Forex Daily Outlook – June 5th 2009
Daily Look

Forex Daily Outlook – June 5th 2009

This wild week reaches the climax today with Non-Farm Payrolls – king of forex indicators. Also note the Canadian unemployment figures and British PPI. Here goes:

Swiss CPI is expected to remain low – After rising by 0.9%, it’s expected to slip to 0.2%. Currently USD/CHF is moved mostly by the dollar and not Swiss data.

In Europe,  ECB President Jean-Claude Trichet will speak again, after yesterday’s ECB Press Conference. Will he say something new?

British  PPI Input is predicted to turn positive, and rise by 0.8%. After falling by 1% last month, only a rise will indicate that Britain remains away from deflation. The accompanying figure, PPI Output, is predicted to rise by 0.4%.

For more on the Pound’s week check out:  Britain’s Got Talent.

Canadian employment figures are published at 11:00 GMT. Expectations have changed during the week.  Employment Change is predicted to fall by 38.4K after rising by 35.9K last time. The Unemployment Rate is predicted to climb up from 8% to 8.2%. Watch for strong moves in the USD/CAD during these hours.

For more on the Canadian dollar’s week, read:  Loonie At Parity? Canadian Dollar Outlook

Non-Farm Payrolls are expected to show a loss of 520,000 jobs in the US. The king of forex drawed attention throughout the week, and it’s published at 12:30 GMT. The market will shake.

Together with the NFP, American Unemployment Rate is expected to become worse, and rise from 8.9% to 9.2%. This figure is quoted by the media and influences politicians.

The last accompanying figure is the  Average Hourly Earnings, which are expected to rise by 0.2%.

Before this exhausting forex trading week ends,  Federal Reserve Governor Donald Kohn will speak. After Bernanke’s pessimistic messages, Kohn might move the markets just before they close, at 18:15 GMT.

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.