Forex Daily Outlook – July 19 2010

We start the week with interesting news in Australia – Monetary Policy Meeting Minutes and RBA Governor Glenn Stevens speech, German PPI is dropping and more news. let’s see what awaits us toddy.

In the US, Federal Open Market Committee (FOMC) Governor Elizabeth delivers opening remarks at a hearing on the Community Reinvestment Act, in Virginia.

Later in the US, National Association of Home Builders (NAHB) Housing Market Index droops down again from by 1 point.

In Canada, Foreign Securities Purchases decrease from 12.3 Billion to 8.05 Billion and e and affects the nation’s securities.

For more on USD/CAD, read the  Canadian dollar forecast.

In Europe, Current Account rise up from -5.18 points to -3.08 a monthly report that measures the difference in value between imported and exported goods and It’s directly linked to currency demand – a rising surplus indicates that foreigners are buying more of the domestic currency to execute transactions in the country.

Later in Europ, German PPI decrease by 0.1%, a monthly report that measures the change in the price of goods sold by manufacturers; and affects the consumer inflation. Note the Prelim M4 Money Supply tomorrow.

For more on the Euro, read the  EUR/USD forecast and Casey Stubbs’  latest analysis.

In Great Britain, Rightmove HPI More in Great Britain, has stabilized on 0.3% on the last 2 months, it’s a leading indicator that measures the change in the asking price of homes for sale. And affects the housing industry’s health.

Read more about the Pound in the  GBP/USD forecast.

In Switzerland, Trade Balance has rise up from 0.82 billion to 1.05 Billion monthly report that measures the difference in value between imported and exported goods and Export demand and directly linked to the currency demand.

Moving on to Australia, Monetary Policy Meeting Minutes It’s a detailed record of the RBA Reserve Bank Board’s most recent meeting, providing in-depth insights

Later on Australia, Reserve Bank of Australia (RBA) Governor Glenn Stevens deliver a speech titled “Some Long-Run Effects of the Financial Crisis” at the Anika Foundation Luncheon, in Sydney; and as head of the central bank, has influence over the nation’s currency.

For more on the Aussie, read the  AUD/USD forecast.

That’s it for today. Happy forex trading!

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