Forex Daily Outlook – March 8th 2010
Daily Look

Forex Daily Outlook – March 8th 2010

The week starts without major releases. German industrial production and Swiss retail sales will stand out. Here’s the daily outlook.

Note that the weak, yet expected Non-Farm Payrolls will still echo in the markets. The dollar enjoyed some strength against the majors last week but lost ground to the commodity currencies. OK, let’s see the events:

Japan starts the day with a few figures: Current Account is expected to rise to a surplus of 1.25 trillion yens. The Economy Watchers Sentiment is predicted to edge up from 38.8 to 40.2 points.

In Switzerland, the unemployment rate is expected to remain unchanged at 4.1%. This figure rarely surprises. The more important release is Retail Sales – after a leap of 4.7%, a strong rise of 2.4% is expected this time.

In Europe, the Sentix Investor Confidence is expected to tick up from -8.2 to -7.6, still in the negative zone, showing pessimism. German Industrial Production is expected to rise by 1.1% after sliding by 2.6% last month. This event usually rocks the Euro.

For more on the Euro’s week, read the EUR/USD forecast. I also recommend catching up with Casey Stubbs’ analyses.

In Britain, MPC member Kate Barker will speak in a conference. Barker is about to step down from position soon, so she might feel more free to speak.

The Pound has seen better days than these. For the events and a technical analysis, check out GBP/USD forecast.

For those of you trading the loonie, an important indicator is due today: Housing Starts are expected to remain unchanged at 186K.

Will USD/CAD continue towards parity? There are technical barriers on the way. Check out the USD/CAD forecast for more.

That’s it for today. Happy forex trading!

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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.