Thursday January 19, 2017 - 20:58:32 GMT
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Forex Trading Ideas For Friday 20 January 2017
Pre-Open Forex Trading Ideas for 20 Jan 2017
WEEKLY HIGH IMPACT NEWS:
01:00 US Yellen Speech
13:30 CA- CPI/ Retail Sales
16:30 US- Trump Inauguration
- Late today will see another speech by Fed Chair Yellen on the economy. Otherwise, key Canadian inflation and Retail Sales data are scheduled for release. On Friday at 12:00 ET, Donald Trump will be inaugurated as U.S. President. His inaugural address will be carefully combed for any items related to economic policy.
- The latest ECB meeting saw no basic changes in policy. Nevertheless, the aftermath of the policy announcement saw considerable price volatility. There was no new word of the "tapering" of bond purchases other than to confirm that the central bank has extended its bond purchase program to the end of 2017. The central bank will continue to purchase bonds at the current monthly pace of EUR 80 billion until the end of March. From April 2017, net asset purchases will continue at a reduced monthly pace of EUR 60 billion until the end of December 2017.
- The Trump comment that he would use forex as a policy tool is a new element for the markets. The Trump comments rattled the markets. This topic was discussed several times by Treasury Secretary designate Mnuchin in his confirmation hearing. He repeatedly dodged the question.
CURRENT CONDITIONS: Mixed Risk-Off Profile
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