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Risk-Off Trading Heading into the ECB Decision. BOE Awaited Also. U.S. ADP Data Slated
|Risk-Off Trading Heading into the ECB Decision. BOE Awaited Also. U.S. ADP Data Slated|
September 5, 2014 00:00 GMT
Daily Risk On/Off Heat Map
Current Market Conditions:
Today has been a watershed day for Europe with the ECB finally taking aggressive action, both in terms of interest rate cuts and in terms of providing liquidity to halt the decline in European inflation. EURUSD has fallen through the 1.3000 barrier.
- On Friday, U.S. and Canadian August payroll data are due.
- The European Central Bank was the headline event of the day with the central Bank surprising markets with interest rate cuts and liquidity additions. The aggressive ECB ease saw EURUSD tumble.
- The Bank of England kept policy steady as expected. Meeting notes are due in just under two weeks time.
- In the U.S., ADP jobs data were in line with estimates an increase in NFP on the order of +200K.
- U.S.Service PMI surveys were stronger than expected. Weekly Jobless Claims were steady.
- The BOJ kept policy steady, as expected today, although some concerns were expressed about the lasting impact of the sales tax increase.
- Be sure to refer daily to the Global-View Economic Calendar and the Forex Forum for the complete list of key items (actual data, selected charts, etc.) as they are released.
Weekly Trading Planner Top Items (GMT):FRIDAY
09:00 EZ GDP Broadest growth measure
12:30 CA Payrolls Key employment metric
12:30 US Payrolls Key employment metric
||Ind Output yy
||2Q14 GDP qq
Be sure to refer daily to the Global-View Economic Calendar For key items (actual data, selected charts, etc.) as they are released.
See the FOREX FORUM. for actual data, selected charts, etc.) and comments from experienced traders to events as they happen.
John M. Bland is a founding partner of Global-View.com. He was a FX consultant to major corporations. He has also been a institutional forex trader, FX analyst for a blue chip Fed watching service and an author. John has an MBA in Finance and a BA in Economics from the University of California, Berkeley.
|Copyright 2014, GlobalViewpoint, Inc All rights reserved|
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Amazing Trader EVENT RISK Calendar:
Thu 16 Nov
01:30 AU- Employment
09:30 GB- Retail Sales
10:00 EZ- final HICP
14:15 US- Industrial Production
Fri 17 Nov
13:30 CA- Retail Sales, CPI
13:30 US- Housing Starts and Permits
Potential Trading Opportunities
John M. Bland, MBA
- POTENTIAL PRICE RISK: HIGH to Medium Wed -- 20:30 GMT AU- Employment data.
- POTENTIAL PRICE RISK: HIGH Thu -- 09:30 GMT GB- Retail Sales.
- POTENTIAL PRICE RISK: Mediun Thu -- 10:00 GMT EZ- final HICP. ECB targets inflation.
- POTENTIAL PRICE RISK: Medium Thu -- NY Morning US- Import Prices, Philly Fed, Industrial, Production, NAHB. Usually not major movers.
- POTENTIAL PRICE RISK: HIGH to Medium Fri -- 13:30 GMT CA- Retail Sales and CPI.
- POTENTIAL PRICE RISK: HIGH to Medium Fri -- 13:30 GMT US- Housing Starts and Permits.
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