Forex Daily Outlook – May 24 2010

In the US a rise in the Existing Home Sales, and Sandra Pianalts (US) and Speaks at the Ohio Northern University, in Great Britain Adam Posen speeches are affecting the nation’s key interest rates. Let’s see the other interesting news up for today

In the US, Existing Home Sales, date about home resales that released monthly and measures the annualized number of residential buildings that were sold during the previous month, is about to rise from 5.35 Million to 5.61 Million an leading indicator of economic health, triggers a wide-reaching ripple effect.

Later in the US, Federal Reserve Bank of Cleveland, President Sandra Pianalto deliver opening remarks at the Ohio Northern University, in Ada;  affects the future monetary policy with the FOMC members votes on where to set the nation’s key interest rates.

For more on USD/CAD, read the  Canadian dollar forecast.

In Great Britain, Bank of England (BOE), Monetary Policy Committee (MPC); Member Adam Posen speaks at the School of Economics, in London and affects the monetary policy by setting nation’s key interest rates.

Read more about the Pound in the  GBP/USD forecast.

In Australia, New Motor Vehicle Sales, released monthly and measures the change in the number of new cars and trucks sold domestically. Affecting the future financial position and encouraging consumers to spend money.

For more on the Aussie, read the  AUD/USD forecast.

In Japan, The Bank of Japan (BOJ) Monthly Report, recent economic and financial developments and contains the statistical data that the BOJ Policy Board members evaluated when making the latest interest rate decision.

Later in Japan, All Industries Activity, that measures the change in the total value of goods and services purchased by businesses is about to rise up to -0.6% from -2.3%, a leading indicator – businesses are quickly affected by market conditions, and changes in their spending can be an early signal of future economic activity.

That’s it for today. Happy forex trading!

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