Forex Daily Outlook – June 11th 2009
Daily Look

Forex Daily Outlook – June 11th 2009

American Retail Sales are the highlight of today, after yesterday’s packed day. And there’s lots more. Let’s see what’s on the menu today.

Australian Unemployment Change fell by only 1.7K, much better than early expectations. Unemployment Rate was inline with expectations, at 5.7%.

In Europe, the ECB Monthly Bulletin will draw attention, and will give us an insight on what ECB members are reading.

For more on the Euro, check out:  EUR/USD – Will it Get on its Feet Again?

In Britain,  Consumer Inflation Expectations are likely to move the British Pound. Also note the  CB Leading Index.

In Canada,  Capacity Utilization Rate is expected to squeeze to 71.6%. Later on, Mark Carney, Governor of the BOC will speak.

For more on the loonie, read:Canadian Dollar Outlook

Retail Sales are expected to turn positive, from a drop of 0.4% to a rise in the same scale. Also Core Retail Sales are predicted to go in the same direction, and rise by 0.2% after falling by 0.5% last time.

Retail Sales, being a key indicator, will overshadow the weekly Unemployment Claims. After last week’s good Non-Farm Payrolls, I’m very curious about this figure.

Also in the US,  Business Inventories are predicted to fall by 1%. A speech by  Federal Reserve Bank of Atlanta President Dennis Lockhart, might also move the greenback.

Just before the day ends, there’s another important figure – Retail Sales in New Zealand are expected to turn positive.

That’s it. Happy forex trading!

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.