Forex Daily Outlook – November 19th 2009

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Currencies continue to trade in narrow ranges. Today, British retail sales and American unemployment claims stand out. Let’s see what’s up for today.

In Australia, Guy Debelle, the RBA Assistant Governor, will be making a public appearance, and might give some more hints about the upcoming rate decision in December. Also note the RBA Monthly Bulletin.

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

Swiss Trade Balance is predicted to enjoy a growing surplus. USD/CHF is still above parity.

British Retail Sales are predicted to grow by 0.6% after disappointing and remaining unchanged last month. At the same time, Public Sector Net Borrowing is expected to drop to less than half of last month’s size, to 6.7 billion pounds. Also in Britain, a speech by Paul Fisher, a member of the MPC is due.

For more on the British Pound, read the GBP/USD Forecast.

A day after Canadian prices went up, with a symbolic 0.1% rise, the Leading Index is expected to rise by 0.8%, less than last month. At the same time, Foreign Securities Purchases, which represent cash flow into Canada, are expected to stand at 3.2 billion, less than last month.

Wholesale Sales, are predicted to rise by 0.6%, after a drop of 1.4% last time. The BOC Review, the is expected to give another look at the Canadian economy. Near the end of  For more on the loonie, read the Canadian dollar forecast.

In the US, the weekly unemployment claims are showing a slight improvement in jobs, with the number moving to 502K last time. This number isn’t expected to change according to economists, but learning from the past weeks, we could have a good surprise.

Also in the US, the Philly Fed Manufacturing is predicted to rise from 11.5 to 12.3 points. The CB Leading Index is expected to rise by 0.5%, half of last month’s rise.

Another notable event is a public appearance by Timothy Geithner, which sometimes moves the markets.

That’s it for today. Happy forex trading!

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About Author

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.

1 Comment

  1. Rob Matysiak on

    I’m thinking about opening a GBP/PLN. What do you think? Thank you.