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Wednesday December 10, 2008 - 10:45:58 GMT
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FX Blog- GVI Forex Analysis Thread: December 10, 2008 Pre-New York Open
Pre-New York Open
- Asian equity makets have taken comfort from expectations that a bailout of the U.S. automobile sector might be at hand. This optimism has not carried over into Europe at this hour, but the early call is for a higher U.S. open. Accordingly The USD is softer vs. Europe and the JPY is weaker. Key to the auto deal will be to get some support from Senate Republicans. Equity market linkage to forex prices recently has not been not as tight as before.
- The volatile commodity currencies are firmer. Gold and oil are higher.
- There has beeen a lot made of the one month bill auction result yesterday of 0%. One explanation for the outcome was that many equity fund managers are closing their books for the calendar year and needed a safe place to park their cash into January. The 2-yr U.S. minus E-Z spread stands at -140bps +3bps. U.S. bond prices are weaker while E-Z bond prices are mixed.
- 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 26 Feb 2018
AA: Major, A: High, B: Medium
A 15:00 US- New Homes Sales
Tue 27 Feb 2018
A 08:55 DE- Jobless
B 13:30 US- Durable Goods
A 15:00 US- CB Consumer Confidence
A 15:00 US- Pending Homes Sales
AA 15:00 US- Powell House Testimony
Wed 28 Feb 2018
A 10:00 EZ- flash HICP
AA 13:30 US- GDP
A 15:30 US- EIA Crude
Thu 1 Mar 2018
A All Day final Mfg PMIs
A 13:30 US- Weekly Jobless
AA 13:30 US- Core PCE Deflator
AA 15:00 US- Powell Senate Testimony
A 15:30 US- EIA Crude
Fri 2 Mar 2018
AA 15:00 US- final Univ of Mich
John M. Bland, MBA
co-founding Partner, Global-View.com
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