Forex Daily Outlook – August 28th 2009

The last day of the week is highlighted by Britain’s GDP. And there are various releases from all the world. Let’s see what’s up for today:

The first figure for today is bid: Britain posts its Revised GDP for the second quarter of 2009. Economists don’t expect a change from the initial read of a 0.8% contraction. A better result will help the beaten Pound. Read more here about the British Pound.

For those trading on the Swissy, the  KOF Economic Barometer is a very important release to watch out for. It’s predicted to rise from -0.99 to -0.59 points, indicating recovery in Switzerland.

In Europe, Consumer Confidence is expected to improve from -23 to -21. After the recent surprises from Europe, this figure could be better. For more the Euro, check out the EUR/USD Outlook.

In the US,  Core PCE Price Index is predicted to rise by 0.2%, exactly like last month. Personal Spending is expected to rise by 0.3%. Both figures aren’t expected to cause inflation fears.

Later in the US, the  Revised UoM Consumer Sentiment is expected to show a small improvement: from 63.2 to 64.6 points.

Canada also has a nice share of figures today:  Current Account is predicted to show a widening deficit – 11.9 billion. The Raw Materials Price Index is predicted to fall by 4.9% after rising by 6.2% last time.

For more on the loonie, read the Canadian Dollar Outlook.

That’s it. Happy forex trading!