Monday January 9, 2017 - 09:46:02 GMT
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Forex Trading Ideas For Monday 9 January 2017
Forex Trading Ideas for 9 Jan 2017
WEEKLY HIGH IMPACT NEWS:
09:30 GB- Industrial & Manufacturing Output
09:30 GB- Trade
15:30 US- Crude
13:30 US- Retail Sales
13:30 US- PPI
15:00 US- preliminary University of Michigan
- Downward pressue on the Chinese yuan eased Monday and this reduced pressure on the the Chinese central bank, PBOC, to coduct aggressive intervention to combat capital outflows.
- No data which are likely to impact the major currency pairs are set for release on tonday. Tokyo was closed for a holiday. The U.S. will see a number of typically low-impact trading items on Tuesday, although the JOLTS Survey is said to be closely followed by the Fed.
- The December U.S. Employment report on Friday was mixed and should have no impact on the expected future path of Fed policy. Nevertheless, it did generate the typical price volatility with the USD ending broadly higher on the day. One 25bp Fed rate hike is still priced-in by mid-year.
- The current focus of trading is more on the incoming Trump administration than the Fed. Donald Trump will be inaugurated one week for Friday, on January 20. Although a lame duck, President Obama remains active in trying to shape his "legacy" with a slew of executive orders.
John M. Bland, MBA
CURRENT CONDITIONS: Mixed Risk Profile
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