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Forex Trading Ideas for 18 Jan 2017
WEEKLY HIGH IMPACT NEWS:
00:30 AU- Employment
12:45 EZ- ECB Decision
13:30 US- Philly Fed
13:30 US- Housing Starts/Permits
16:00 US- EIA Crude
01:00 US Yellen Speech
13:30 CA- CPI/ Retail Sales
16:30 US- Trump Inauguration
John M. Bland, MBA
- The key event Thursday will be the latest ECB policy meeting. At the last meeting, President Draghi announced that the central bank would extend its bond purchase program to the end of 2017. The central bank will continue to purchase bonds at the current monthly pace of EUR 80 billion until the end of March. From April 2017, net asset purchases will continue at a reduced monthly pace of EUR 60 billion until the end of December 2017. One question some have is will the ECB speed up the tapering of its bond purchases later this year. With the ECB still not having even STARTED to taper, it is premature to expect a new announcement as early as this meeting.
- The rest of this week sees a calendar chock full of potentially market-moving events. See calendar above. On Friday, January 20 starting at 11:00 ET, Donald Trump will be inaugurated as U.S. President. His inaugural address will be carefully combed for any items related to economic policy.
- The Trump comment that he would use forex as a policy tool would be a new element for the markets. The Trump comments rattled the markets.
- The Tuesday Brexit speech by U.K. PM May continues to impact trade.on her plans for Brexit. May said she wanted no "half-in or half-out" agreements. Her goal remains complete political independence from the EU. The GBP remains vulnerable.
CURRENT CONDITIONS: Mild Risk-Off Profile
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