Forex Weekly Outlook for July 11th – 15th

ForexNewsNow | Published on July 10, 2011 at 5:04 am

Last Friday, the euro lost ground vis-a-vis the US dollar, trading at 1.4263 at the end of the day.

The single currency was down 0.68% on the day and had reached a session high of 1.4369 with a low of 1.4207 so far.

More on the latest EURUSD trading news

Top Economic Events to Watch for This Week:


The Bank of Japan (BOJ) Interest Rate Decision – The Bank of Japan is set to announce its interest rate decision on Monday. The rate is currently at 0.10% and most analysts predict that rate will remain unchanged.

US Trade Balance – The Bureau of Economic Analysis is set to release the US Trade Balance report on Tuesday at 13:30 GMT. Experts anticipate a slight deterioration in the trade balance from -43.7B last month to -44.0B.

UK Claimant Count Change – The Office for National Statistics will announce the Claimant Count Change on Wednesday at 09:30 GMT, which measures the change in the number of unemployed people in the UK in the last month. Forecasts are quite positive with a fall anticipated from 19.6K last month to 15.0K this month.

US Retail Sales – In the US, the Census Bureau will publish the monthly Retail Sales figures at 13:30 GMT on Thursday. Analysts forecast a slight rise from -0.2% to 0.0%.

US CPI – The Consumer Price Index in the US which measures the variation in the price of goods and services in June, is set to be released on Friday at 13:30 GMT.

Chart of the EURUSD last week:

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