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Wednesday October 28, 2009 - 19:03:28 GMT
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GVI Forex Discussion Points 28 October 2009 EveningGVI Forex Discussion Points
The forex market correction that started late Monday has continued through Wednesday trading in NYC. The market had to decide if the EURUSD pair was headed higher or lower, and it took a while for the market to decide what to do. We had thought the lower USDJPY might influence its direction, but it didnâ€™t. The pervasive supporting argument for the unit seems to be that it was oversold. That view is paired with a perception that equities are overbought and are in need of consolidation. U.S. economic data released over the day was not supportive of higher stocks.
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Amazing Trader EVENT RISK Calendar:
Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan
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