Forex Daily Outlook – December 29th 2009

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After a day in which many countries were on holiday, today most markets are open, and there are a few notable indicators, with American consumer confidence being the most important one. Let’s see what’s up for today:

In Switzerland, the UBS Consumption Indicator is predicted to edge higher from last month’s 0.87 points. USD/CHF seems stable at the moment.

In Europe, the German Prelim CPI will be of interest to traders of EUR/USD. After many months around 0, the continent’s largest economy is expected to show a rise of 0.6% in prices.

For more on the Euro, read the EUR/USD forecast.

In the US, house prices will be reflected via the S&P/CS Composite-20 HPI. The year-over-year index is expected to show a smaller drop this time – only 7% compared to 9.4% last time.

Later in the US, the CB Consumer Confidence is predicted to rise above the 50 mark after scoring below in recent months. Two months ago, this indicator sent the Euro down. It’s now expected to rise to 53.3 points.

That’s it for today. Happy forex trading!

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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.

5 Comments

  1. Pingback: Forex Daily Outlook – December 29th 2009 « CLC4x's Blog for Forex Trading

  2. Please i hope this is not a joke because i made a wrong trade for the EUR/USD last week, the trade is still on & my only hope is for a sell for this pair at 4;00PM today currently the pair is a big buy and i’m losing heavily.Please if you can send me a mail as regards the consumer confidence will it really favour USD? will EUR/USD Sell that’s my only hope.Thanks

  3. Well Ebere based on predictions the pair may go bearish…but generally its a bad habit to trade on hope and wish.
    Once u’ve discovered u’re on the wrong side of the trade, the best thing to do is to take your loss and preserve your capital for future trades..
    Wish you goodluck in your future trades.

  4. ebere u dont want to trade on hopes and wishes seriously cos i lost so very much from the same inculcate the habit of taking ur first losses cos the really are the best losses u can get.

  5. Well isn’t this “the name of the game”? For someone to win someone else has to loose or it all will grow into a bubble of “nothing”! It’s simply the clean cruelty with which the nature balance things and forex is no exception to this “natures law”.