Forex Crunch Forex Daily Outlook – July 27 2010

Forex Daily Outlook – July 27 2010

Posted: 26 Jul 2010 02:00 PM PDT

U.S. CB Consumer Confidence and U.S. Composite-20 House Price Index are the main events today. Here is an outlook on the activities at hand.

In the US, CB Consumer Confidence forecasted to continue decreasing from 52.9 to 51.5 points following 63.3 points in May.

More in the US, S&P/CS Composite-20 HPI measuring change in the selling price of single-family homes in 20 metropolitan areas and a leading indicator of the housing industry’s health is expected a 3.8% rise, similar to the previous month.

Finally in the US, Richmond Manufacturing Index based on a survey of about 100 manufacturers in the Richmond area which asks respondents to rate the relative level of business conditions including shipments, new orders, and employment is predicted a 3 point drop to 20 points.

For more on USD/CAD, read the Canadian dollar forecast.

In Europe, GfK German Consumer Climate expected a 0.1 point rise following two months halt at 3.5 points

More in Europe, M3 Money Supply measuring change in the total quantity of domestic currency in circulation and deposited in banks forecasted to return to -0.1% following -0.2% in May.

Later in Europe, German Import Prices expected to continue rising by 0.4% following 0.6% rise in May.

Finally in Europe, Private loans measuring change in the total value of new loans issued to consumers and businesses in the private sector forecasted 0.1% rise to 0.3%.

For more on the Euro, read the EUR/USD forecast and Casey Stubbs' latest analysis.

In Great Britain, CBI Realized Sales based on a survey of about 160 retail and wholesale companies which asks respondents to rate the relative level of current sales volume predicted to reach -3 points a nice recovery from -18 points in May but still requires a further rise above 0.

Read more about the Pound in the GBP/USD forecast.

In Australia, CB Leading Index measuring the change in the level of a composite index based on 7 economic indicators is expected a small rise from 0.1% in April.

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

In New Zealand, UBS Consumption Indicator index is likely to remain around 1.74 points following the small drop in May.

That’s it for today. Happy forex trading!

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