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Thursday December 11, 2008 - 10:33:52 GMT
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FX Blog- GVI Forex Analysis Thread: December 11, 2008 Pre-New York Open
Pre-New York Open
- As expected, the U.S. House of Representatives approved the auto bailout plan late Wednesday. Itâ€™s a much closer call in the Senate and still could go either way. A vote by Friday is hoped for. Passage of the plan would be supportive of equities, and failure could hurt. Far Eastern bourses closed mostly higher. European exchanges are lower at this hour and the early call for the U.S. open is for lower.
- The key focus today will be on U.S. weekly jobless claims. This is about the most up to date barometer of the economy. The trade data should have improved in response to the slowing of the eonomy. The USD is generally weaker vs. Europe and the JPY.
- The SNB cut its target rate for 3mo CHF libor by 50bps to 0.50%, as expected. The SNB recently has been very aggressive in its monetary policy ease.
- The volatile commodity currencies are mostly firmer. Australian November employment fell by -15,600 to 4.4% pretty much as expected. Gold and oil are higher.
- . See the GVI calendar for an updated schedule of data releases in the two weeks ahead.
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Amazing Trader EVENT RISK Calendar:
Mon 18 Dec
10:00 EZ- final HICP
Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account
Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude
Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP
Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes
Mon 25 Dec
00:00 Christmas Holidays
Potential Trading Opportunities
John M. Bland, MBA
- POTENTIAL PRICE RISK: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.
- POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
- POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity
- POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
- POTENTIAL PRICE RISK: Medium- Wed --15:30-- US- EIA Crude
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