Forex Daily Outlook – February 2nd 2010
Topics: aud/usd, aussie, british pound, construction pmi, daily forex forecast, euro/dollar, forex trading, ForexCrunch, gbp/usd, glenn stevens, nab business confidence, pending home sales, ppi, seco consumer climate
The greenback took a break from rises yesterday, on risk appetite trading. Today’s highlights are a rate decision in Australia and American Pending Home Sales. Let’s see what’s up: Australia starts the day with the NAB Business Confidence, which is finally released. This will be overshadowed by a much more important event: the rate decision in Australia. Glenn Stevens is expected to raise the interest rate once again – to 4%, the fourth consecutive rate hike. This move is doubted by some economists. If the RBA leaves the Cash Rate unchanged, this could seriously hurt the Aussie. For gains, the Aussie will need a boost from future prospects. The accompanying RBA Rate Statement might supply clues. Read the AUD/USD forecast for more. In Switzerland, the SECO Consumer Climate is…

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