Wednesday February 15, 2017 - 20:53:15 GMT
Share This Story
Global-View - www.global-view.com
Forex Trading Ideas For Thursday 16 February 2017
Pre-Open Trading Ideas for 16 Feb 2017
WEEKLY Forex Economic Calendar:
15:30 US- EIA Crude
16 Feb Thu
03:00 AU- Employment
13:30 US- Weekly Jobless
13:30 US- Housing Starts/Permits
17 Feb Fri
09:30 GB- Retail Sales
- On Tuesday, There were no major surprises from Chair Yellen's testimony Wednesday. She did not retreat from the bullish tone of her Tuesday comments. On Tuesday she opened the door wider for a possible rate hike at the March 15 meeting. She also said that the Fed would consider rate hikes at future meetings. Over the day, several Fed officials spoke in favor of ealy rate hikes.
- As for trading, I continue to feel the implications are that the February employment data due in early March could tip the scale either way on the March 15 Fed policy decision. She is keeping all options open for that meeting. One argument in favor of a March hike is that it would solidify the Fed track for three rate hikes this year.
- U.K. Employment data disappointed the markets as it missed street estimates. Jobless data improved, but average earnings missed. Yesterday, U.K. CPI data missed as well. Aside from the U.S., U.K. forex markets are the most sensitive to economic data. U.S. CPI and Retail Sales beat expectations and helped raise market expectations for a March hike.
- As for trading, I feel the implications are that the February employment data due in early March could tip the scale either way on the March 15 Fed policy decision. She is keeping all options open for that meeting. One argument in favor of a March hike is that it would keep the Fed on track for three rate hikes this year. The central bank has recently fallen into a pattern of rate changes at the Four Fed meetings that fall just before the end of each quarter.
- Fed Funds futures odds for a March Fed rate hike are now 42% (36%). Markets now place the odds for rate hikes by June at 122% (110%). That is 100% for one hike (March?) plus 22% for a second move.
Equities In Risk-On Posture After Yellen and Data on 15 February 2017
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."