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Thursday October 29, 2009 - 09:33:32 GMT
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GVI Forex Discussion Points 29 October 2009 Morningfrom GVI Forex Discussion Points
The main focus for trade today will be the advance 3Q09 GDP estimate. Most street forecasts range between +3.0% and +3.5%. Much of the advance is being attributed to the â€ścash for clunkersâ€ť program, which has since been discontinued. We never like the GDP figure because swings in inventories can often have a distorting influence on the results. The key EURUSD pair might be in a bottoming phase. We continue to feel that there are a lot of USD on the sidelines waiting to be sold. Sellers are just waiting for the best time to move. When they move it will be sudden and sharp. One fly in the ointment is that recent U.S. economic data have not been supportive of higher stocks. Thus todayâ€™s GDP data is more important than usual.
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Amazing Trader EVENT RISK Calendar:
Wed 18 Oct /ul>
12:30 US- Housing Starts & Permits
14:30 US- EIA Crude
Thu 19 Oct
01:30 AU- Employment
08:30 GB- Retail Sales
12:30 US- Weekly Jobless
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales
John M. Bland, MBA
- POTENTIAL PRICE RISK: HIGH Tue-- 08:30 GMT GB- CPI top tier confirmation of Inflation.
- POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT DE- ZEW Survey second most important German monthly Survey.
- POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT EZ- final HICP revision to flash report. Revisions are usually minor.
- POTENTIAL PRICE RISK: Medium Tue-- 13:15 GMT US- Industrial Production. Top output indicator.
- POTENTIAL PRICE RISK: Medium Wed-- 12:30 GMT US- Housing Starts and Permits revision to flash report. Useful housing leading indicator.
- POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top WTI inventory measure.
- POTENTIAL PRICE RISK: Medium Thu-- 01:30 GMT AU- Employment. Top economic indicator.
- POTENTIAL PRICE RISK: Medium Thu-- 02:00 GMT CN- GDP. Top economic indicator.
- POTENTIAL PRICE RISK: HIGH Thu-- 08:30 GMT GB- Retail Sales. Top consumption indicator.
- POTENTIAL PRICE RISK: Medium Thu-- 12:30 GMT US- Weekly Jobless. Employment Indicator.
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