Tuesday December 20, 2016 - 10:42:28 GMT
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Forex Trading Themes For Tuesday 20 December 2016
Forex Trading Ideas for 20 Dec 2016
- The EURUSD broke through the psychological 1.0400 line earlier today. People are still digesting the latest terrorist events after the Russian Ambassador assasination in Turkey, The Berlin truck attack and another event in Zurich.
- The Bank of Japan kept policy unchanged as expected, but did upgrade its assessment of the economy. The said the 0% target for JGB yields would be left intact and that the weaker JPY does not pose a problem.
- On Monday The USD improved during the day after a platitude-laden address by Fed Chair Yellen at the University of Baltimore. It appears the news algos took the platitudes in her commentary as policy and drove the USD higher.
- We are in pre-Christmas markets and conditions are thin. The economic calendar is light again today.
- Expect limited trader participation until after the turn of the year. Recall, limited volumes no longer always imply stable prices.
WEEKLY HIGH IMPACT NEWS:
15:00 US- Existing Homes Sales
15:30 US- EIA Crude
13:30 US- Weekly Jobless
13:30 US- Durable Goods
13:30 US- GDP
13:30 US- PCE Deflator
15:00 US- New Homes Sales
15:00 US- University of Michigan Survey
John M. Bland, MBA
CURRENT CONDITIONS: Mixed Risk Profile
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