Thursday December 15, 2016 - 09:48:00 GMT
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Forex Trading Ideas For Thursday 15 December 2016
Forex Trading Ideas for Thu 15 Dec 2016
- The USD is putting in a strong performance in the wake of the Fed policy decision on Wednesday. Thursday sees a slew of data pushed forward due to holidays next week. U.K. retail sales data will likely be another market-moving release (data beat). A BOE policy decision is due as well. U.S. featured releases are: CPI and Weekly Jobless Claims.
- Australian November employment data were stronger than forecast, with both headline and underlying figures improved. The SNB kept policy steady as expected. The bank pledged to remain active in Swiss Franc intervention. Flash PMIs out of Japan and the EZ have improved.
- U.S. markets should have been set up for the Fed policy decision. but apparently they were not. As expected, the FOMC raised the mid-point of its 0.25%-0.50% target range (0.375%) for Fed Funds by 25bps to 0.50% to 0.75% (0.625%). The Fed "Dot-Plot" forecasts for interest rates were raised in response to recent economic developments. Chair Yellen was less dovish, but remained cautious.
- Fed "dot-plot" forecasts by individual policy board members increased to three from two the number of expected Fed fund rate hikes next year. Since their inception, the "dot plot" forecasts have been notoriously overly-optimistic.
WEEKLY HIGH IMPACT NEWS:
00:00 All-Day- flash PMIs
00:30 AU- Employment
08:30 CH- SNB Decision
09:30 GB- Retail Sales
12:00 GB- Bank of England Decision
13:30 US- CPI
13:30 US- Current Account
13:30 US- Weekly Jobless
10:00 EZ- final HICP
13:30 Housing Starts/Permits
John M. Bland, MBA
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