Monday, September 7, 2009

Forex Crunch

Forex Crunch

Forex Daily Outlook - September 7th 2009

Posted: 06 Sep 2009 02:00 PM PDT

Labor Day in North America means very few indicators today. Low volume may contribute to some strange moves. Let’s see what’s up for today.

Australian AIG Construction Index and ANZ Job Advertisements start the day. The latter indicator has been following for quite some time, with a 1.7% drop last time. The big question is: Will the breakout be confirmed?

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

In Europe, Sentix Investor Confidence is expected to be negative again, and stand on 13.5 points. German Factory Orders, which have shown great strength, are expected to continue rising, with a 2% rise this time. For more on the Euro’s week, read the EUR/USD Outlook.

Near the end of the day, two British indicators are released: BRC Retail Sales Monitor and RICS House Price Balance - which is expected to drop by 0.1%, less than last month’s 8.1% free fall. British figures are more interesting later in the week - check out the GBP/USD Outlook for details.

That’s it for a very calm day. For the week’s major events, here’s the Forex Weekly Outlook.
Posted by at 5:55 AM

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