Thursday February 9, 2017 - 09:20:35 GMT
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Forex Trading Ideas For Thursday 9 February 2017
Trading Ideas for 9 Feb 2017
WEEKLY Forex Economic Calendar:
9 Feb Thu
13:30 US- Weekly Jobless
18:00 US- 30-yr Auction
3 Feb Fri
09:30 GB- Output/Trade
13:30 CA- Employment
15:00 US- Univ of Mich Survey (prelim)
- Markets are off to a cautious start on Thursday with the EURUSD pivoting the psychological 1.0700 line. The focus of activity this week has turned towards upcoming elections in Europe. They could result in a change in the social and economic status quo on the Continent and this is causing worry in the financial markets. Generally, we have found over the years that political factors tend to have a short half-life.
- Some attribute the rise in fixed income prices (lower yields) in the period to a flight to safety due to European political uncertainty. Otherwise the EU economy has been on what appears to be an improving path.
- The final U.K. Brexit Bill has been passed resoundingly in Commons by 494-122, as expected. It now goes onto the House of Lords where it is expected to be approved easily. This was a "clean" bill with no amendments.
- Fed Funds futures have reduced the odds of a March Fed rate hike to only 26% (26%). Markets now place the odds for a single rate hike by June at 88% (88%).
Mild Risk-On Posture Early on February 9, 2017
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