Forex Daily Outlook – August 11th 2009
Daily Look

Forex Daily Outlook – August 11th 2009

The calendar begins warming up, with a rate decision in Japan standing out. Let’s see what’s up for today:

Australia starts the day with the NAB Business Confidence, a good indicator for the economy. For more on the Australian dollar, check out the AUD/USD Outlook.

In Japan, the  Overnight Call Rate is predicted to remain unchanged, at 0.1% – rock bottom. The focus moves to the  Monetary Policy Statement, which will detail on the state of the Japanese economy. More answers will be given at the BOJ Press Conference.

In Europe,  German Final CPI is predicted to remain at a fall of 0.1%. The WPI (Wholesale Price Index) is expected to rise by 0.1%. For more on the European scene, check out the EUR/USD Outlook.

British  Trade Balance is expected to show a deficit of 6.3 billion, exactly like last month. For GBP/USD, read the British Pound Outlook.

In the US, two quarterly release are expected today:  Prelim Non-farm Productivity which is expected to rise by 5.2%, and the  Prelim Unit Labor Costs, which are expected to fall by 2.3%.

For those of you trading the loonie, note the Canadian Housing Starts. No change is expected from last month’s 141K. A surprise can sure help the Canadian dollar. More on the North American pair is in the USD/CAD Outlook.

That’s it for today. Happy forex trading!

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.