Elevate Your Trading With The Amazing Trader!
The Amazing Trader includes:
Sign Up now for a free Trial now using the form below:
- Actionable trading levels delivered to YOUR charts in real-time.
- Live trading strategy sessions.
- Market Updates with Trading Tools.
WEEKLY HIGH IMPACT NEWS:
08:30 GB- GDP
12:30 US- Weekly Jobs
12:30 US- Durable Goods
14:00 US- Pending Homes Sales
23:30 JP- CPI
12:30 US- GDP
14:00 US- University of Michigan
00:00 RZ/GB Clocks turn back one hour
- Today sees the first estimate for 3Q16 UK GDP. This is first broad snapshot of how the economy has performed since the Brexit. The data could have implications for Bank of England policy. U.S. duable Goods Orders and Pending Homes Sales data are due, along with Weekly Jobless Claims.
- Following September Advance Trade data Wednesday, CNBC said its tracking of private GDP estimates (due Friday) have been raised substantially to 3%+ from about 2.5%.
- The GBP picked up support from comments by a junior government Minister who said both U.K. Houses would want to examine any agreement made between the EU and U.K. on Brexit. Parliament leans in favor of a "soft Brexit". Tuesday, Bank of England Governor Carney comments implied that a rate cut is improbable in light of the recent GBP slide.
- Markets continue to try to reconcile the prospects for a Fed policy tightening in December with Yellen's new notion of a high-pressure economy. Odds are the Fed will hike rates before putting policy on hold again for most of 2017. Fed Funds futures have zeroed in on roughly 70% odds (69%) on a rate hike. It looks to me like the hawks and doves have reached a deal. The hawks get a December token rate hike in return for the doves getting a steady monetary policy next year.
John M. Bland, MBA
CURRENT CONDITIONS: Mild Risk-Off
Latest News On U.S. Presidential Election -- Realclearpolitics.com
EXCLUSIVE: Global-View Daily Trading Chart Points Updated
EXCLUSIVE: Global-View Free Forex Database updated
TRADER ADVOCACY ARTICLES
PM May Confronts Brexit
Diary of My Forex Day