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Monday December 15, 2008 - 20:31:04 GMT
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FX Blog- GVI Forex Analysis: Far East Open for December 15, 2008
Pre-Far East Open
- End of year trade continues to see the USD tumble against European currencies. USD weakness is often expected as a seasonal pattern by traders. Gold and oil are mixed. Dealers are looking ahead to a Fed policy easing Tuesday.
- Another focus remains on the auto bailout plan. The world did not end after an accord was not reached over the weekend, but yearend apparently is the dropdead date. The last thing the U.S. needs is another financial shock.
- The extent of the exposure to the Madoff fraud continues to be investigated. 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 bourses ended modestly lower. The current call for the U.S. close is for weaker. U.S. Bond prices are stronger.
- Key data U.S. Tuesday include: November CPI, Housing Starts and the FOMC policy decision. A cut in the Fed Funds rate of either -50bps or -75bps is expected. See the GVI calendar for an updated schedule of data releases in the two weeks ahead.
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Mon 15 Jan 2018
00:00 US- Holiday
Tue 16 Jan 2018
09:00 GB- CPI
20:00 US- Beige Book
Wed 17 Jan 2018
00:30 AU- Employment
02:00 CN- GDP
10:00 EZ- final HICP
14:15 US- Industrial Production
15:00 CA- Bank of Canada Decision
Thu 17 Jan 2018
13:30 US- Weekly Jobless
13:30 US- Housing Starts/Permits
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Fri 18 Jan 2018
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15:00 US- University of Michigan (prelim) Survey
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