Wednesday December 28, 2016 - 21:05:10 GMT
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ForexPre- Open Trading Ideas For Thursday 29 December 2016
Pre-Open Forex Trading Ideas for 29 Dec 2016
- The Return of London Wednesday saw the USD trading generally higher. The GBP put in another disappointing session.
- An unexpected decline in equity prices might be end of year related. Thursday sees weekly Jobless Claims and EIA Crude Oil inventories. Expecte dealers to focus on equity prices again. While major centers were mostly were reopened on Wednesday, many institutions were working with reduced staffing. Expect activity to start to wind down again for the New Years holidays.
- November U.S. Pending Homes Sales fell unexpectdly by 2.50%. The weakness in housing was blamed on rising home prices, a thin inventory of properties offered for sale and rising mortgage interest rates. Pending Homes Sales are a useful indicator of futture Existing Homes Sales.
- Many early-bird traders like to establish positions in the period between Christmas and New Years for the start pf the new year. I think it is safe to assume that many will be looking to buy USD into the new Year.
WEEKLY HIGH IMPACT NEWS:
13:30 US- Weekly Jobless
16:00 US- EIA Crude
14:45 US- Chicago PMI
John M. Bland, MBA
CURRENT CONDITIONS: Risk-Off Profile
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