Forex Daily Outlook – May 4th 2009
Daily Look

Forex Daily Outlook – May 4th 2009

Forex trading starts slowly this week, with holidays in Britain and Japan. Yet, Pending Home Sales will draw much attention. Let’s see what’s up at the start of the new week:

Australia starts the week with the monthly  ANZ Job Advertisements. Australian housing is expected to be left unchanged, with quarterly HPI at 0%.

In Europe,  German Retail Sales are predicted to stabilize, after last month’s drop of 0.4%. Later in Europe,  Final Manufacturing PMI and  Sentix Investor Confidence are published.

In Switzerland,  SVME PMI is expected to rise to 34 points. PMI is improving everywhere…

American  Pending Home Sales will be watched closely. They are expected to rise by 0.1%, after soaring 2.1% last time. A related figure,  Construction Spending, is predicted to fall.

In the evening,  Federal Reserve Bank of Richmond President Jeffrey Lacker will speak, and might say something interesting in a reaction to audience questions.

That’s it for today. The week becomes much more exciting later this week. Check out the Forex Weekly Outlook.

Tension will build up towards Friday’s king of indicators: Non Farm Payrolls. Here are 8 reasons why NFP should be better.

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.