Forex Daily Outlook – December 29th 2009
Daily Look

Forex Daily Outlook – December 29th 2009

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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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.