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The week starts with a strong note, with Japanese GDP. And there are a few more events to watch out for. Here’s the daily outlook.

EUR/USD made a swing move downwards on Friday but closed above 1.3580. Where will it go this week? Check out my EUR/USD forecast for the events that will move the Euro, and follow Casey Stubbs for fresh technical analysis. Le’s start the review:

The day starts early, actually on Sunday at 23:50 GMT, with the initial Japanese GDP report for Q4. After seeing weak growth of 0.3% in Q3, the Japanese economy is predicted to expand by 1% in Q4. This will have an impact on other markets as well.

In Britain, the Rightmove HPI has shown a modest rise in house prices last month (0.4%) and it’s predicted show similar performance this time.

For technical levels on GBP/USD, check out the British Pound forecast.

In Switzerland, PPI is expected to remain stable with a rise of 0.1%. Note that this currency is tricky, as the SNB likes intervening on Fridays.

No indicators are released in the US, but we’ll have a speech by ┬áTreasury Secretary Timothy Geithner will testifying in front of the House Budget Committee and might shake the markets.

In New Zealand, quarterly PPI is predicted to rise by 0.5% after dropping by 1.1% in the previous quarter. The importance of this indicator comes from it’s frequency – only once a quarter.

That’s it for today. Happy forex trading!

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