Tuesday January 24, 2017 - 20:44:59 GMT
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Forex Trading Ideas For Wednesday 25 January 2017
Pre-Market Trading Ideas for 25 Jan 2017
WEEKLY Forex Economic Calendar:
25 Jan Wed
00:30 AU- CPI
09:00 DE- IFO Survey
15:30 US- Crude
26 Jan Thu
09:30 GB- GDP
13:30 US- Weekly Jobless
14:45 US- flash Service PMI
15:00 US- New Homes Sales
23:30 JP- CPI
13:30 US- Durable Goods
13:30 US- GDP
15:00 US- University of Michigan
- Actions on moving ahead on infrastructure spending (approving pipelines the Obama administration had been stalling for years) gave equities a lift Tuesday afternoon. Continued progress on this front could continue to fuel equity prices in the immediate future.
- The U.K. Supreme Court upheld High Court ruling affirming that Parlimentary approval is needed for PM May to invoke Article 50, which puts Brexit into motion. The Court also ruled that approval of the devolved Parliaments (Scotland, Wales and Northern Ireland) is not required. A bill invoking Aticle 50 will be presented on Thursday. There are no worries this will slow the March-end Brexit deadline.
- If approval of the devolved parliaments had been required, this could have become a messy proceess with Scotland opposing Brexit.
- Late Monday U.S. Treasury Secretary-designate Mnuchin muddied the waters when he said that an excessively strong US dollar may be negative in the short term. This report sent the USD lower. Details of the Trump dollar policy are awaited. Use the EURUSD 1.0700 line as a key benchmark of USD strength or weakness.
- The U.S. economic calendar Wednesday includes: Australian CPI, German IFO Survey and EIA Crude inventories.
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