Wednesday December 14, 2016 - 10:26:04 GMT
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Forex Trading Ideas For Wednesday 14 December 2016
Forex Trading Ideas -- Wed 14 Dec 2016
- The U.S. will release November Retail Sales data on the N.Y. open today. A number of other key items are due as well.
- U.S. markets have been set up for a Fed rate hike later today for a couple of months. U.S. rates have been set at a ridiculously low level, for years, and a 25bp rate hike is not likely to matter much. Its the signals about the future course of policy that will produce the headlines. With the U.S. moving to a more expansive fiscal policy, Yellen should be less dovish. Nevertheless, she has had a pattern of cautiousness that we are likely to see again today.
- The FOMC should raise the mid-point of its 0.25%-0.50% target range (0.375%) for Fed Funds by 25bps to 0.625%. News algos often do not know what we humans expect. They mindlessly react to headlines, so the Fed rate hike could trigger price volatility.
- The GBP dominated is trading weaker today following a lackluster unemployment report for October and November. Swings into and out of the EURGBP cross have been having a significant impact on the EURUSD pair this week, as post-Brexit trades are being unwound. No changes in policy are expected from the Bank of England on Thursday.
WEEKLY HIGH IMPACT NEWS:
14-Dec Wed
09:30 GB- Employment
13:30 US- Retail Sales
13:30 US- PPI
14:15 US- Industrial Production
15:30 US- Crude Oil
18:00 US- FOMC Decision
15-Dec Thu
00:00 All-Day- flash PMIs
00:30 AU- Employment
08:30 CH- SNB Decision
09:30 GB- Retail Sales
10:00 DE- ZEW Survey
12:00 GB- Bank of England Decision
13:30 US- CPI
13:30 US- Current Account
13:30 US- Weekly Jobless
16-Dec Fri
10:00 EZ- final HICP
13:30 Housing Starts/Permits
John M. Bland, MBA
co-founder Global-View.com
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