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Monday November 10, 2008 - 10:33:11 GMT
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FX Blog- GVI Forex Analysis: N.Y. Open for November 11, 2008
New York Open
- China has announced a nearly USD 600bln domestic economic stimulus program. Some of the items had been previously announced, but the bulk of the spending is new. The announcement gave Far East bourses a lift. In the U.S., the government has made the terms of the AIG bailout less onerous and made more funds available. Both developments take a bit more financial risk off the table.
- European bourses are higher in the wake of the news, while U.S. bourses are seen opening higher. U.S. treasury markets will close early today ahead of the Veteranâ€™s Day holiday on Tuesday. U.S. stock markets will be operational.
- Dealers are already starting to speculate what will come out of the G20 meeting this weekend. The markets could be disappointed if no coordinated economic stimulus plan is launched.
- The 2-yr U.S. minus E-Z spread is -111 bps -4 bps. U.S. bond prices are weaker. E-Z bond prices have fallen as well.
- The USD is lower vs. the EUR, GBP and CHF. The JPY is weaker on diminished risk aversion. The AUD, CAD and NZD are sharply higher after the China news. Gold and oil are up. See the GVI calendar for an updated schedule of data releases in the two weeks ahead.
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GVI Trading. Potential Price Risk Scale
Mon 19 Mar 2018
AA: Major, A: High, B: Medium
Tue 20 Mar 2018
AA 9:30 GB- CPI
A 10:00 DE- ZEW Survey
Wed 21 Mar 2018
AA 03:00 AU- Employment
AA 9:30 GB- Employment
A 12:30 US- Current Account
AA 14:00 US- Existing Homes Sales
A 14:30 US- EIA Crude
A A 18:00 US- Fed Rate Decision
A 21:00 NZ- RBNZ Rate Decision
Thu 22 Mar 2018
AA All Day flash PMIs
AA 9:30 GB- Retail Sales
AA 12:00 GB- Bank Of England Decision
A 13:30 US- Weekly Jobless
Fri 23 Mar 2018
AA 12:30 CA- CPI/Retail Sales
A 12:30 US- Durable Goods
A 14:00 US- New Homes Sales
John M. Bland, MBA
co-founding Partner, Global-View.com
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