Forex Daily Outlook – December 14th 2009

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The new forex week starts with the Euro at crossroads, after tumbling down on Friday. European industrial production stands out today, among other events. Let’s see what’s up for today:

Japan provides a strong start to the day, with the release of the Tankan Manufacturing Index. This important indicator is expected to advance to -26 points, following -33 last quarter. This is still in the negative zone. Te complementary figure, Tankan Non-Manufacturing Index is expected to advance from -24 to -23.

In Britain, the Rightmove HPI is predicted to show a small rise in prices, after falling b 1.6% last month. GBP/USD is at crossroads, and its moves are closely watched.

For more on the Pound, read the GBP/USD forecast.

In Switzerland, Producer price index is predicted to rise by 0.2% after a fall of 0.4% last month. USD/CHF is already quite far from parity.

In Europe, Industrial Production is expected to drop by 0.6%, after the disappointing rise of only 0.3% last month. Quarterly Employment Change will probably drop as well, but a more modest scale than last quarter’s 0.5%.

For more on the Euro, also on the verge of a drop, read the EUR/USD Forecast.

Canada’s dollar has shown strength against the greenback. Capacity Utilization Rate is expected to remain almost unchanged at 67.7%. Check out the Canadian dollar forecast for more.


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About Author

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.

2 Comments

  1. Jonathan Hackman on

    Forecast for Dec 12 and week was usefull. However how about adding NZD? Last forecast was a while ago. Just a wish..

  2. Thanks for you comment Jonathan. I don’t always have time, but I’ll try to push the NZD/USD outlook next week.