Thursday April 13, 2017 - 08:56:27 GMT
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Forex Trading Ideas For 13 April 2017
Trading Ideas for 13 Apr 2017
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Amazing Trader EVENT RISK Calendar:
13 Apr Thu
01:30 AU- Employment
12:30 US- PPI
12:30 US- Weekly Jobless
14:00 US- Univ of Mich (prelim)
14 Apr Fri
00:00 Good Friday Bank Holidays
12:30 US- Retail Sales
12:30 US- CPI
Items likely to drive FX rates:
- Late Wednesday President Trump surprised the markets in a WSJ article when he indicated that the USD is getting too strong. I assume he meant against the EUR? The EURUSD closed up strongly late Wednesday, but since has stabilized. I tend to trust Treasury Scretay Mnuchin's forex comments more than those by Mr. Trump. He tends to be more thoughtful in his public statements.
- He also supported the concept of low interest rates and mused that he is considering reappointing Fed Chair Yellen in early 2018, when she comes up for renomination. It appears that someone must have explained to him that Yellen's dovish pro-growth policies are supportive of his agenda?
- Wednesday was another subdued trading session. One highlight was the meeting between the U.S. and Russian Foreign Secretaries. Based on the exchanges in the post-meeting press conference the two did not found much common ground. Also concerns about Syria and North Korea continue to simmer in the background.
- Australian March employment daya were stronger than expected and have given the AUD lift. Sentiment aroud the currency remains bearish.
- EVENT RISK- Thu Apr 13
12:30 US- PPI part of the inflation picture.
14:00 US- University of Michigan Survey (preliminary).
- EVENT RISK- Fri Apr 14
00:00 Good Friday Bank Holidays.
12:30 US- Retail Sales- Economy driven by consumption.
12:30 US- CPI- Fed targets inflation.
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