Forex Daily Outlook – December 4th 2009

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Forex trading comes to a climax with American Non-Farm Payrolls, which are expected to fall once again. Also note Canadian employment data. Let’s see what’s awaiting us.

Swiss CPI is predicted to rise by 0.1% after a 0.6%. Swiss prices aren’t putting any pressure for a rate hike.

Canadian employment figures are expected to be OK: a positive 15.6 employment change number, that follows a big 43.6K drop, which in turn followed a good surprise.

The Canadian unemployment isn’t expected to move from 8.6%. Any surprise will shake USD/CAD, especially as these figures are published 90 minutes before the American NFP.

Later in Canada, Ivey PMI is predicted to drop from 61.2 to 60.6 points. For more on the loonie, read the Canadian dollar forecast.

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American Non-Farm Payrolls are predicted to drop by 111K according to updated estimations. Last month’s drop of 190K was somewhat worse than expectations.

The worse part of last month’s employment figures was the unemployment rate: 10.2%. The jump to a double-digit unemployment rate is expected to remain – 10.2% is expected this time as well.

Also in the US, Average Hourly Earnings are predicted to rise by 0.2% while Factory Order are expected to rise by 0.2%, after a 0.9% advance last month.

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 the 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.

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