Tuesday January 10, 2017 - 10:10:50 GMT
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Forex Trading Ideas For Tuesday 10 January 2017
Forex Trading Ideas for 10 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
- The USD is trading soft once again as it tested above the EURUSD 1.0600 level in Far East trading. The U.S. will see today a number of typically low-impact trading items, although the JOLTS Survey is said to be closely followed by the Fed.
- The GBP remains on the back foot after a weekend interview of PM May who indicated the U.K. would have full control of immigration after Brexit. Markets took her comments to mean she is pursuing a "hard" Brexit and that has seen the GBPUSD weaken.
- The December U.S. Employment report on Friday was mixed and should have no impact on the projected future path of Fed policy. One 25bp Fed rate hike by mid-year is priced in.
- One current focus of trading is a Wednesday press conference by President-elect Trump. Donald Trump will be inaugurated one week from Friday, on January 20.
John M. Bland, MBA
CURRENT CONDITIONS: Mixed Risk Profile
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