Forex Daily Outlook – June 25th 2009
Daily Look

Forex Daily Outlook – June 25th 2009

After yesterday’s FOMC Statement, the markets start the day with a stronger dollar. American figures continue to dominate the scene today, with Unemployment Claims. A speech by Ben Bernanke can clarify yesterday’s cautious statement.

Australia’s CB Leading Index rose by 0.7%, and last month’s fiugre was revised upwards. The Australian economy is doing better than the currency…

European Industrial New Orders are expected to be left unchanged after falling last month. The EUR/USD is flirting with the 1.40 line.

Unemployment Claims are predicted to get slightly better, but still remain above 600K. Obama said that the unemployment rate will pass the 10%. No big surprises are expected here.

Final GDP for the first quarter of 2009 is predicted to remain at the same level as the initial release: a contraction of 5.7%. The economy did very bad in the first quarter…

At 14:00 GMT, Ben Bernanke will begin his testament in Washington DC. Will he shed new light on the situation?

It isn’t over yet. GDP in New Zealand is published at 22:45. Gross Domestic Product is predicted to fall by 0.7% in the land of the kiwi. This continues a long recession. A surprise will shake the NZD/USD.

And the last notable indicator for today comes from Japan: Tokyo Core CPI will show the strength of deflation in the land of the rising sun. t’s expected to fall by 1%.

That’s it for today. 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.