Forex Daily Outlook – November 23rd 2009


The dollar began the week on the retreat, after making gains last week. Today’s American Existing Home Sales are in the limelight, and there are a few more events around the world. Let’s see what’s up for today:

European purchasing managers’ indices start the day. The first figures are from France, then Germany and finally for all of Europe. All the numbers are expected to remain above 50 points, marking expansion, but some are expected to advance while others are predicted to retreat.

For more on the Euro, check out the EUR/USD forecast.

Later in Europe, a speech from Jean-Claude Trichet is expected. The president of the ECB can move the Euro quite easily.

In Canada, Retail Sales are predicted to rise by 0.6% after a bigger rise last time. Also Core retail sales are predicted to grow, this time by 0.4%. For more on USD/CAD, read the Canadian dollar forecast.

American Existing Home Sales are expected to rise from 5.57 to 5.71 million. Most home sales are of existing houses – what makes this figure quite important.

In Australia, near the end of the day, the CB Leading Index is expected to rise once again. Last month, a rise of 1.8% was recorded in this composite index. For more on the Aussie, read the AUD/USD forecast.

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.

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