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Thursday October 2, 2014 - 09:13:24 GMT
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Focus on ECB Decision Shortly. Expectations Are Mixed. U.K. Construction PMI Outperforms
|Focus on ECB Decision Shortly. Expectations Are Mixed. U.K. Construction PMI Outperforms|
October 2, 2014 09:15 GMT
Daily Risk On/Off Heat Map
Current Market Conditions:
Markets have appear to remain in a RISK-OFF posture. I see prime bond yields are higher today, perhaps because they overshot yesterday on the downside as equities sold-off I will be watching U.S. shares again closely today. The ECB could also impact trade today. The EURUSD has been trading higher.
- Today sees the latest ECB Po;icy decision. No major changes in policy are expected. The surprise outcome would be a strong easing of policy.
- The UK Construction PMI was better than forecast and should be viewed as an "internal" rather than an external" economic indicator.
- On Friday, a slew of Service PMIs are set for release along with the September U.S jobs report. ADP Private Payroll data showed a gain of +213K in August vs. +202K in July. The data had no impact on street expectations for a gain in non-farm payrolls of about that amount...
- 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):
01:30 AU Trade Important Trade measure
08:28 GB Construction PMI Closely-followed production index
11:45 EZ Europe Cntl Bank More ease to be signaled?
12:30 US Initial Claims +300 expected
14:00 US Factory Orders Future production predictor
07:55 DE SVC PMI final Key Service Sector index
07:58 EZ SVC PMI final Key Service Sector index
08:28 GB SVC PMI Key Service Sector index
12:30 CA Trade External sector measure
12:30 US Payrolls Major Fed Target
12:30 US Trade Impacts GDP calculation
13:45 US Markit SVC PM Key Service Sector index
14:00 US ISM SVC PMI Key Service Sector index
||Europe Cntl Bank
||Nat Gas bcf
||SVC PMI final
||SVC PMI final
||SVC PMI final
||Retail Sls mm
||Retail Sls yy
||Markit SVC PMI
||ISM SVC PMI
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.
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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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