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Tuesday December 16, 2008 - 10:43:47 GMT
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FX Blog- GVI Forex Analysis: Pre-Far New York Open for December 16, 2008
Pre-New York Open
- The U.S. will see a slew of data on the open of trade today (13:30 GMT). CPI data will be watched as concern about DE-flation is a growing concern. Economists say that there are known monetary policy cures for inflation but that deflation can be difficult to combat. Housing data will be watched as well, because any broad recovery would require a recovery of the housing sector.
- End of year trade continues to see the USD vulnerable against the European currencies. USD weakness is often expected as a seasonal pattern by traders. The USD has mostly recovered today. Gold and oil are mixed.
- Dealers are expecting a Fed policy easing later today of -50bp to -75bp. More important might be the tone of the policy statement.
- Far Eastern bourses closed easier. European bourses are now higher. The current call for the U.S. open is for firmer. U.S. Bond prices are stronger. The recent close correlation between forex and equities seems to have broken down.
See the GVI calendar for an updated schedule of data releases in the two weeks ahead.
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Tue 17 July 2018
AA: Major, A: High, B: Medium
AA 08:30 GB- Employment
A 13:15 US- Industrial Production
AA 14:00 US-Powell Testimony
Wed 18 July 2018
AA 08:30 GB- CPI
A 12:30 US- Housing Starts/Permits
AA 14:00 US-Powell Testimony
Thu 19 July 2018
AA 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 14:30 US- EIA Crude
A 12:30 US- Weekly Jobless
Fri 20 Jun 2018
A 12:30 CA- CPI/Retail Sales
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