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Friday December 12, 2008 - 10:18:24 GMT
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FX Blog- GVI Forex Analysis Thread: December 12, 2008 Pre-New York Open
Pre-New York Open
- The U.S. auto bailout plan fell apart late Thursday when Senate Republicans refused to support the bill. Their primary objection to the bill was that they felt that the plan would not have restructured the industry to the point where it would have been viable. This means that their ongoing cash burn rate was such that the firms would have been back evey few months asking for billions more. The other side of the issue is that the last thing the U.S. needs is another financial shock.
- There is still an outside chance that a bridge loan could come from some other direction. Politics is the business of brinksmanship.
- Far Eastern bourses closed sharply lower on the news. European exchanges are lower and the current call for the U.S. open is for weaker. Bond prices are up sharply.
- The volatile commodity currencies are sharply lower. Gold and oil are lower.
- Key data Friday include U.S. PPI data, retail sales and the university of Michigan sentiment index. One worry about the PPI data is that it could signal a deflationary period. 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:
Tue 12 Dec
09:30 GB- CPI
10:00 GB- ZEW Survey
13:30 US- PPI
Wed 13 Dec
00:30 AU- Employment
09:30 GB- Unemployment
13:30 US- CPI
15:30 US- EIA Crude
19:00 US- Fed Decision
Thu 14 Dec
07:30 CH- SNB Decision
All Day- Global- flash PMIs
12:00 GB- Bank of England Decision
12:45 EZ- ECB Decision
13:30 US- Retail Sales
13:30 US- Weekly Jobless
14:45 US- Industrial Production
Potential Trading Opportunities
John M. Bland, MBA
- POTENTIAL PRICE RISK: Mediun Tue--10:00 GMT-- DE- ZEW. Second Tier Sentiment Survey
- POTENTIAL PRICE RISK: HIGH-Medium Tue--13:30 GMT-- US- PPI
- POTENTIAL PRICE RISK: HIGH-Medium Wed--09:30 GMT-- GB- Employment
- POTENTIAL PRICE RISK: HIGH Wed--13:30 GMT-- US- CPI
- POTENTIAL PRICE RISK: Medium Wed--15:30 GMT-- US- EIA Crude
- POTENTIAL PRICE RISK: High Wed--19:00 GMT-- US- Fed Decision
- POTENTIAL PRICE RISK: HIGH- Thu --00:30 GMT-- AU- Employment
- POTENTIAL PRICE RISK: Medium- Thu --All day-- global- flash PMIs
- POTENTIAL PRICE RISK: HIGH-Medium- Thu --07:30-- CH- Swiss National Bank Decision
- POTENTIAL PRICE RISK: HIGH-Medium- Thu --09:30-- GB- Retail Sales
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