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Forex Trading StrategiesAfter a heavy fall in the USD, it now looks to consolidate
The impressive and long awaited JPY strength may continue. EUR/JPY close to very important support.
MAJOR HEADLINES PREVIOUS SESSION
UK Retail Sales MoM (Nov) out at 0.7% vs. 0.3% expected.
New Zealand Business Confidence figures generally improving.
US CPI MoM (Nov) out at 0.6% vs. 0.4% exp. Ex Food & Energy at 0.2%.
US Empire Manufacturing (Dec) out at 28.7 vs. 18.2 expected.
US Initial Jobless Claims out at 329K vs. 320K expected.
US TICS Data (Oct) out at $106.8B vs. $75.0B expected.
US Industrial Production (Nov) out at 0.7% vs. 0.5% expected.
US Capacity Utilization (Nov) out at 80.2% vs. 79.8% expected.
US Philadelphia Fed (Dec) out at 12.6 vs. 15.0 expected.
BoJ's Fukui says that rates will be maintained at current, low levels, until YoY CPI changes are stable above zero.
THEMES TO WATCH UPCOMING SESSION
The German IFO today could be strong like the positively surprising ZEW on Wednesday.
The US Current Account Balance is expected at a new, record deficit. This might drag the US "imbalance problems" - i.e. the "twin deficits" back into focus in major market.
Note: the support/resistance levels used in the matrixs of this document are levels derived from yesterday high, low and close. Reference in the text to other support/resistance levels will occur.
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