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Forex Forecast for the September 14, 2009 - September 18, 2009

That week is expected to be a very active one on the Forex market, because there’s quite an amount of economic news in different regions to be announced. Bank’s of Japan announcement of rates of interest can influence the Yen. And Swiss Central Bank is also going to announce its rates of interests this week.

From Forex-important data on an eurozone it is possible to point out change of Industrial Production, a consumer price index (CPI) and Current Account. In Germany the publication of an economic expectations index from institute ZEW is expected. For the British pound the most important are the following indicators: a consumer price index, change of Retail Sales, and also data on change of volume of unit M4 of monetary weight and a labour market. And much extremely important news are to be announced in the USA. Maybe they will be a start of the recovery of the American currency on the Forex market against EUR and JPY.

Thus, at an available abundance of data, the tendencies of the basic currency pairs moving are likely to be somehow different. The American currency has quite good chances to play back on the Forex. However, being simultaneously under the pressure of the main competitors and own share markets, the dollar risks to continue movement downwards, which is also expected on Forex market. That week EUR/USD is expected to be moving between 1.445 and 1.480, and GBP/USD between 1.645 and 1.690.

by Jonathan Halprid
September 14, 2009
See Forex Analysis and Forex Forecasts for the previous days there:
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