Forex Daily Outlook – November 9th

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The week begins with renewed risk appetite. The dollar loses ground across the board on optimism from China. Let’s review the events that will impact forex trading in the wake of the new week:

In Australia, Home Loans rose significantly more than expected – by 5.1%. On the other hand, ANZ Job Advertisements disappointed by falling by 1.7% after two months of gains.

AUD/USD looked at the bright side, and rose to 0.9250, under the resistance line. For more on the Aussie’s week + technical analysis, read the AUD/USD Forecast.

In Europe, German Trade Balance is expected to show a higher surplus, rising from 10.6 billion to 11.8 billion Euros. The all-European Sentix Investor Confidence is expected to edge up, but still remain in the negative zone – 11.2 points.

New: A daily outlook  from my partners:

The more important release in Europe is the German Industrial Production. It’s predicted to post a second month of growth and rise by 1.2%. The publication at 11:00 GMT will move the Euro. EUR/USD is currently at 1.4937, higher than last week’s highs.

For more on the Euro’s week + technical analysis of EUR/USD, read the EUR/USD Forecast. I also suggest looking into Casey Stubbs’ latest EUR/USD analysis.

In Canada, Housing Starts are an important release for the Canadian dollar. They’re expected to rise up to 157K, after a slow cautious upwards move in previous months. Also the loonie enjoys the greenback’s weakness, with USD/CAD under 1.07.

For more on the Canadian dollar’s week, and a technical analysis for USD/CAD, check out the USD/CAD Forecast.

That’s if for today. The next days are more interesting, especially from Britain. Check out the GBP/USD Forecast for the events in Britain and a GBP/USD technical analysis.

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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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