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Tuesday December 9, 2008 - 10:36:16 GMT
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FX Blog- GVI Forex Analysis:Pre-New York Open for December 9, 2008
Pre-New York Open
- This week sees little in the way of key U.S. economic data, so the price action should be dominated by flows.
- On Monday, forex markets followed the lead of equities, mainly because it is working. By this point we have to assume that the risk profile of the bulk of funds has been mostly trimmed.
- Asian equity indices were mixed today and European bourses are better at this hour. U.S. equities look to be opening about steady later. A partial bailout deal for the auto industry is about completed and is been constructive for stocks.
- This year saw the seasonal October equity selloff, and now the ‚ÄúSanta Claus rally‚ÄĚ could be underway. This would be bad news for the USD into yearend. A weak USD at yearend is another typical seasonal pattern.
- Today, the USD is higher vs. Europe. The JPY is firmer. The volatile commodity currencies are weaker. Gold and oil are about steady.
- The 2-yr U.S. minus E-Z spread stands at -134bps +1bps. U.S. bond prices are higher and E-Z bond prices are about steady.
- See the GVI calendar for an updated schedule of data releases in the two weeks ahead.
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Trading Ideas for 12 March 2018
GVI Trading. Potential Price Risk Scale
Mon 12 Mar 2018
AA: Major, A: High, B: Medium
A 17:00 US- 3-Yr Auction
Tue 13 Mar 2018
A 10:00 DE- ZEW Survey
AA 12:30 US- CPI
A 17:00 US- 10-Yr Auction
Wed 14 Feb 2018
AA 12:30 US- Retail Sales
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 17:00 US- 30-Yr Auction
Thu 15 Mar 2018
A 12:30 US- Weekly Jobless
A 12:30 US- Philly Fed, Empire PMI
A 12:15 US- Industrial Production
Fri 16 Mar 2018
A 10:00 EZ- final HICP
A 12:30 US- Housing Starts/Permits
A 14:00 US- prelim Univ of Mich
John M. Bland, MBA
co-founding Partner, Global-View.com
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