Forex Daily Outlook – July 23rd 2009

Busy day today with American Existing Home Sales and Unemployment Claims dominating the scene. Also note the British Retail Sales. And there’s lots more. Let’s see what’s on the menu:

In Australia,  RBA Assistant Governor  Dr. Guy Debelle will speak also today, and might move the Aussie.

European Current Account is predicted to remain negative, but with a smaller deficit – 2.7 billion. Later in Europe, the  Belgium NBB Business Climate is expected to show a small improvement, rising from -23.6 to -21.3. Still negative.

In Britain, all eyes will look at the monthly Retail Sales. They’re expected to rise by 0.4% after falling last month. This figure is quite volatile. Also in Britain, the important  BBA Mortgage Approvals is predicted to keep on the good momentum and rise from 31.2K to 32.3K.

For more on GBP/USD, check out the British Pound Outlook.

In the US, finally there’s a significant figure and not only words…  Unemployment Claims are predicted to rise again, from 522K to 548K, after improving recently.

Existing Home Sales are expected to continue rising, as American Housing is off the bottom – from 4.77 million to 4.80 million. Also in the US,  Federal Reserve Governor Daniel Tarullo will speak.

In Canada, the qaurterly  BOC Monetary Policy Report is published today and will give some insight on the Canadian economy and for future interest rate changes. After the release, BOC Governor Mark Carney will hold a press conference, and might receive tough questions.

For more on USD/CAD, read the Canadian Dollar Outlook.

Happy forex trading!