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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:
Wed 18 Oct /ul>
12:30 US- Housing Starts & Permits
14:30 US- EIA Crude
Thu 19 Oct
01:30 AU- Employment
08:30 GB- Retail Sales
12:30 US- Weekly Jobless
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales
John M. Bland, MBA
- POTENTIAL PRICE RISK: HIGH Tue-- 08:30 GMT GB- CPI top tier confirmation of Inflation.
- POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT DE- ZEW Survey second most important German monthly Survey.
- POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT EZ- final HICP revision to flash report. Revisions are usually minor.
- POTENTIAL PRICE RISK: Medium Tue-- 13:15 GMT US- Industrial Production. Top output indicator.
- POTENTIAL PRICE RISK: Medium Wed-- 12:30 GMT US- Housing Starts and Permits revision to flash report. Useful housing leading indicator.
- POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top WTI inventory measure.
- POTENTIAL PRICE RISK: Medium Thu-- 01:30 GMT AU- Employment. Top economic indicator.
- POTENTIAL PRICE RISK: Medium Thu-- 02:00 GMT CN- GDP. Top economic indicator.
- POTENTIAL PRICE RISK: HIGH Thu-- 08:30 GMT GB- Retail Sales. Top consumption indicator.
- POTENTIAL PRICE RISK: Medium Thu-- 12:30 GMT US- Weekly Jobless. Employment Indicator.
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