Forex Daily Outlook – February 23rd 2009

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The beginning of the Forex week doesn’t feature too many events in the economic calendar but bank nationalization fears in Europe and in the US are looming over the forex markets.

After supplying some headlines yesterday, Jean Claude Trichet will speak again today, this time in Paris.

Core Retail Sales in Canada will be closely watched by traders of the loonie. It’s expected to fall by 2%. Also Retails Sales are expected to fall – by 2.7%.

Also in Canada, a speech by BOC Senior Deputy Governor Paul Jenkins might indicate the direction of interest rates, that still have room to move towards the zero mark, contrary to its neighbor from the south.

In America, the only notable event is a speech by Federal Reserve Bank of Atlanta President Dennis Lockhart, that is expected to face tough questions from the audience.

And to close the day, Japan’s Monetary Policy Meeting Minutes will be published at 23:50 GMT. They should shed some light on the state of the Japanese economy, after the GDP figure was devastating.

Have a great week!

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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.

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