Forex Daily Outlook – May 11th 2009
Daily Look

Forex Daily Outlook – May 11th 2009

The week starts without too many indicators. Do note  French Industrial Production and a speech by Ben Bernanke. Let’s see what’s up.

Australia starts the forex week with the  NAB Business Confidence, a good indicator for Australia’s strong economy.  In Japan,  Prelim Machine Tool Orders might recover from the deep falls last time.

In Europe,  French Industrial Production is expected to fall by 0.4%, after falling last time by 0.5%. Also the Italian Industrial Production is expected to fall – by 1.7%. At least that will be half than last time… European economies are still suffering.

In Canada, the  New Housing Price Index (NHPI) is predicted to fall by 0.5%, after falling last month by 0.7%. Despite the Canadian dollar’s strength, the economy isn’t strong.

In Britain,  BRC Retail Sales Monitor is a good indicator of the British mood. The  RICS House Price Balance is predicted to get a little bit better, reading -70.2% instead of 73.1%.

Just before the day ends, Ben Bernanke will speak at Atlanta, Georgia, and will be exposed to questions from the audience. His words move markets…

Happy forex trading!

Check out major events for the rest of the week at the Forex Weekly 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.