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Monday December 15, 2008 - 10:52:06 GMT
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FX Blog- GVI Forex Analysis: Pre-Far New York Open for December 15, 2008
Pre-New York Open
- Trade is still active as the markets head into the end of year period. The fundamental focus remains on the auto bailout plan. The world did not end after an accord was not reached over the weekend, but the fuse on some of the firms is very short. The last thing the U.S. needs is another financial shock.
- The extent of the exposure to the Madoff fraud continues to be uncovered. The losses were large enough that institutions around the globe have been impacted by the mess.
- Far Eastern bourses closed sharply higher despite a poor quarterly Tankan survey from Japan. European exchanges are higher and the current call for the U.S. open is for modestly weaker. U.S. Bond prices are a bit weaker. Many are looking ahead to additional Fed ease tomorrow. It will be hard to react to additional Fed ease.
- The USD continues to fall vs. Europe. The JPY has gained. The volatile commodity currencies are higher in response to the lower USD. Gold and oil are higher.
- Key data U.S. Monday include: the Empire PMI, TIC data and Industrial Production. 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
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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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