Thursday March 23, 2017 - 08:41:44 GMT
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Forex Trading Ideas For Thursday 23 March 2017
Trading Ideas for 23 Mar 2017
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WEEKLY Forex Economic Calendar:
23 Mar Thu
09:30 GB- Retail Sales
12:30 US- Weekly Jobless
14:00 US- New Homes Sales
24 Mar Fri
All Day flash PMIs
12:30 CA- CPI
26 Mar Sun
00:00 EZ/GB Clocks + One hour
Forex Market: items driving the market in the mid-week period:
- Event Risk today. Markets are mixed ahead of a key vote this evening in Washington on the Trump healthcare plan. The Administration must get past this issue before it can address key economic ussues such as tax reform and its major infrastructure program. The schedule is not by their chosing but is dictated by the rules of the Senate. The Trump agenda is being stalled by his own party's right wing and opposition Democrats.
- U.K. retail sales are due today. The May goverment U.K. is scheduled to invoke Article 50 next Wednesday (March 29). Higher CPI data in February will make the BOE more vigilant. The BOE targets inflation but will not be hiking rates soon. Odds are the terrorist episode Thursday will strengthen her hand.
- There is a growing perception that the ECB in the very early stages of stepping back from its excessive policy ease. This could take a while.
- While Wednesday featured flows INTO Japan from Europe, we had been seeing funds recently flowing from Japan to Europe as part of a new round of "carry trades"? Carry trades appear to be on hold while equity prices adjust.
Lots to consider. Please comment...
John M. Bland, MBA
co-founding Partner, Global-View.com
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