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Thursday October 29, 2009 - 18:32:46 GMT
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FX Blog- Market Snapshot N.Y. Close for 29 October 2009GVI Forex Discussion Points
As expected, the main focus for trading Thursday was advance 3Q09 GDP data, which showed growth of 3.5%. This was stronger than most street forecasts which ranged between +3.0% and +3.5%. A top Wall Street firm weighed in Wednesday with a +2.7% forecast. We never like GDP because swings in inventories can distort the results. In the end, equities rallied on the news and gave the EURUSD a lift.Â The end of October is the close of the fiscal year for many retail equity mutual funds, and it is possible that their activities have been influencing trade. Presumably they will be buyers of equities in early November.
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Amazing Trader EVENT RISK Calendar:
Mon 18 Dec
10:00 EZ- final HICP
Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account
Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude
Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP
Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes
Mon 25 Dec
00:00 Christmas Holidays
Potential Trading Opportunities
John M. Bland, MBA
- POTENTIAL PRICE RISK: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.
- POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
- POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity
- POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
- POTENTIAL PRICE RISK: Medium- Wed --15:30-- US- EIA Crude
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