Tuesday February 28, 2017 - 19:46:09 GMT
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Forex Trading Ideas For Wednesday 1 March 2017
Pre-Opning Trading Ideas for 1 Mar 2017
WEEKLY Forex Economic Calendar:
1 Mar Wed
All Day- final Mfg PMIs
08:55 DE- Jobless
13:30 US- PCE Deflator
15:00 CA- Bank of Canada Decision
15:30 US- EIA Crude
19:00 US- Beige Book
2 Mar Thu
13:30 US- Weekly Jobless
23:30 JP- CPI
3 Mar Fri
All-Day SVC PMIs
- The major focus now is on ther major policy speech this evening in Washington at 02:00 GMT (21:00 ET) by President Trump to a joint session of Congress. For a President who already has been in office, this would be called the State of the Union Speech. Since he has only been on the job for a month, the speech has no formal name.
- In the address, he is expected lay out his agenda (Wish List) for the economy and for governing for the next year. Of major interest will be any details for his tax program and how he plans to make needed fixes to Obamacare. On the other hand, Trump's OMB Director seemed to be trying to down play exprctations for Trump's speech in a press briefing Monday. Marekets could be disappointed if he is short on details.
- Equity markets traded mixed to lower Tuesday, due to month end and as dealers looked for direction. Worries about European elections over the next several months persist. On the other hand, flight-to-safety demand for key sovereign debt issues might be abating.
- Another key focus this week will be a speech on the economic outlook Friday by Fed Chair Yellen in Chicago at 13:00 GMT. This will be coming ahead of the key Fed meeting on March 15. This could be one of her last opportunities before the decision to influence market sentiment. Fed Funds futures odds for a March Fed rate hike are now 54% (52%). This reflects some some reduced skepticism today. Markets now place the odds for rate hike(s) by June at 122% (120%).
Cautious Trade Ahead Of The Trump Policy Speech Later
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