Monday March 6, 2017 - 19:37:57 GMT
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Forex Trading Ideas For Tuesday 7 March 2017
Pre-Open Trading Ideas for 7 Mar 2017
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WEEKLY Forex Economic Calendar:
03:30 RBA Decision
10:00 EZ- GDP
13:30 CA/US- Trade
8 Mar Wed
07:15 CH- Trade
13:15 US- ADP
13:00 US- Crude
9 Mar Thu
12:45 EZ- ECB
13:30 US- Weekly Jobs
10 Mar Fri
09:30 GB- Output/Trade
13:30 CA/US- Employment
- This week should become more active as time wears on due to a full calendar starting wiith Tuesday. Forex Markets were trying to adapt to the Yellen speech on Monday. She has the market now believing that the Fed will ACTUALLY be hiking rates this year and this outlook adversely impacted U.S. equities.
- Odds in favor of a rate hike at the March 15 FOMC are now at a near certain 96% after Fed Chair Yellen went as far as anyone could reasonably expect to signal a rate hike at the upcoming Fed meeting. It would take a major shock now for them not follow through with higher rates. Somethung shy of three rate hikes are now priced in for between now and year end.
- This week sees an ECB policy decision Thursday. Many feel that the over-accomodative monetary policy of the central bank is well past its prudent expiration date. Traders are hoping to hear sometime soon that it will soon start to seriously "taper" its asset purchases. This meeting is still probably too soon for a definitive announcement by the ECB Council members.
- Friday sees February U.S. and Canadian Employment data. It is highly improbable, but an unexpectedly very weak U.S. report could theoretically derail the March Fed rate hike, but I will not be betting on this.
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