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Thursday October 9, 2014 - 09:54:00 GMT
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Tentative RISK-ON Trade Heading Into U.S. Economic Calendar Has Picked Up
|Tentative RISK-ON Trade Heading Into U.S. Economic Calendar Has Picked Up|
October 9, 2014 09:45 GMT
Daily Risk On/Off Heat Map
09:30 GMT- Current Market Conditions:
Early in Europe, markets are in a mixed RISK-ON posture heading into the U.S. session. Our focus again is on equity markets following the trend reversal yesterday afternoon following the much more dovish than expected Fed Minutes The EURUSD is holding above 1.2700. A higher EURUSD is usually RISK-OFF, so something has got to give.
- The tone of the Fed's latest meeting Minutes was more dovish than the markets were expecting and turned the tone of stock market2. Equities spiked higher on the release.
- Australia employment data saw an outsized gain in jobs in August revised out and then the remaining advance negated by a September fall.
- Today sees the latest Bank of England policy decision and weekly U.S. jobless claims.
- The EURUSD recently has developed into s RISK-OFF play. When stocks fall the EURUSD tends to rally.
- On Friday, U.K. trade and Canadian employment data will be the featured releases.
- 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):
00:50 A JP BOJ Minutes
01:30 A AU Employment major economic metric
11:00 A GB Bank of England no rate change
12:30 A US Initial Claims near frictional lows
17:00 TRY 30-yr
08:30 A GB Trade key industrial measure
12:30 A CA Employment key economic metric
||Bank of England
||QE GBP bn
||Nat Gas bcf
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:
Mon 20 Nov
14:00 EZ- Draghi Speech
15:00 US- Leading Indicators
Tue 21 Nov
15:00 US- Existing Homes Sales
23:00 US- Yellen Speech
Wed 22 Nov
13:30 US- Weekly Jobless
13:30 US- Durable Goods
15:00 US- final University of Michigan Survey
15:30 US- EIA Crude
19:00 US- FOMC Minutes
Thu 23 Nov
All Day flash PMIs
13:30 CA- Retail Sales
Fri 24 Nov
All Day flash PMIs
09:00 DE- IFO Survey
US- Early Closes
Potential Trading Opportunities
John M. Bland, MBA
- POTENTIAL PRICE RISK: HIGH Mon -- 14:00 GMT EZ- Draghi speaks in Brussels. Looking for any policy hints or bias
- POTENTIAL PRICE RISK: HIGH Tue -- 13:30 GMT US- Existing Homes Sales. Top Housing Statistic
- POTENTIAL PRICE RISK: HIGH Tue -- 23:30 GMT US- Yellen Speech. Early evening. Looking for anything on policy
- POTENTIAL PRICE RISK: Medium Wed -- 13:30 GMT US- Weekly Jobless, Durable Goods
- POTENTIAL PRICE RISK: Medium Wed -- 15:00 GMT US- final University of Michigan Survey
- POTENTIAL PRICE RISK: Medium Wed -- 15:30 GMT US- EIA Crude
- POTENTIAL PRICE RISK: HIGH Wed -- 19:00 GMT US- FOMC Policy Minutes. Key policy release
co-founding Partner, Global-View.com
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