Forex Daily Outlook – July 28th 2009
Daily Look

Forex Daily Outlook – July 28th 2009

American  CB Consumer Confidence and British  CBI Realized Sales are  the major events for today. And there’s more…Let’s see what’s up for today.

Australian CB Leading Index starts the day. It’s followed by the  NAB Quarterly Business Confidence. At 3:00, RBA Governor Glenn Stevens will speak about the Australian economy.

In Switzerland, the  UBS Consumption Indicator has fallen in the past two months. It might get up on it’s feet.

British  CBI Realized Sales are a major indicator in the UK. This figure is expected to rise from -17 to -12, but still remain in negative territory. For more on GBP/USD, check out the British Pound Outlook.

In the US, the  S&P/CS Composite-20 HPI is predicted to show a fall of 17.8%. The more interesting American figure is  CB Consumer Confidence which is predicted to fall again, after last month’s big disappointment. Only a surprise with a score above 50 will move the markets.

In the late afternoon, FOMC member  Janet Yellen will speak. Late at night,  US Treasury Secretary Timothy Geithner will speak. He has his way of moving the markets.

In New Zealand,  Building Consents are a major gauge for the economy. They’re expected to fall by 4.8% after rising last month. For more on the kiwi, check out the NZD/USD Outlook.

Japanese Retail Sales will close the day with an expected drop of 2.5%, after falling last time by 2.7%.

I’m still closely following the USD/CAD in its attempts to break downwards. Will it happen this week? For more on the loonie, check out the Canadian Dollar Outlook.

Yohay Elam

Yohay Elam

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.