Forex Daily Outlook – January 11th 2010

In the wake of the Non-Farm Payrolls, the week starts without any American releases, but with many other indicators around the world, with a big bunch in Canada. Let’s see what expects traders at the beginning of the new week:

No American indicators are released today, but a speech by FOMC member James Bullard might shake the dollar across the board.

Australia starts the day with the MI Inflation Gauge which is predicted to be stable and the ANZ Job Advertisements which may give a hint about the official employment numbers later on this week.

For more on the Aussie, including technical levels, read the AUD/USD Forecast.

In Switzerland, Retail Sales are expected to continue rising, but at a weaker pace than last month – only 1.9% on a yearly level.

French Industrial Production is predicted to rise by 0.4% after dropping last month. A serious jump is necessary for the Euro, that didn’t make a break on Friday. For more on the Euro, read the EUR/USD forecast.

Canada receives many indicators today: Housing Starts are predicted to edge up once again and reach 161K, up from 159K last month. Building Permits which skyrocketed last month by 18%, are expected to drop by 1.1% this time.

Later in Canada, the BOC Business Outlook Survey will give an insight on the whole economy, and is expected to rock the loonie. Another hint about future policy will be heard from BOC Deputy Governor Timothy Lane, which will make a public appearance and will talk especially about the housing sector, a few hours after fresh data is released.

For technical levels of USD/CAD, check out the Canadian dollar forecast.

The NZIER will release its Business Confidence indicator which usually moves the kiwi. NZD/USD has been doing well in the past weeks.

Japanese Current Account will close the day, with an expected drop in the surplus.

That’s it for today. Happy forex trading!