Forex Forum Archive for 09/07/2013

Mtl JP 21:53 GMT September 7, 2013
Forex Trading Theme for the Week

so I wonder,

1) with the allegedly war-prodding Saudis causing crude to climb to $110 (more if bombs start to fly in all n every direction) why is it that they are NOT announcing a loosening of their crude's valves to help ordinary folks getting to and from work ?

2) 0 must be seeing the crude price increases as well which go up as he beats the war drum. Why is he not putting honey on his lips (regardless of what may or not be in his heart) and talk about releasing crude from the strategic stockpile to lower prices to Americans ?

Is it too wild to suspect the Saudis are actually cutting output in an effort to try to put some heat on 0 to try to keep him in line singing war war in harmony w/them ?

GVI Forex john -- Inner Circle 20:26 GMT September 7, 2013
Australian Elections

more from Reuters...

"...With Abbott's convincing victory, much of the interest remains on the Senate, where the Greens, independents and fringe parties might still hold the balance of power and frustrate Abbott's legislative agenda.Final results in the Senate could take more than a week to determine, due to the complicated system of preferential voting and proportional representation..."

GVI Forex john -- Inner Circle 20:24 GMT September 7, 2013
Australian Elections
Reply   
(Reuters) - Australia's conservative leader Tony Abbott swept into office in national elections on Saturday as voters punished the outgoing Labor government for six years of turbulent rule and for failing to maximize the benefits of a now fading mining boom....

Conservative leader Abbott sweeps into power in Australian elections

GVI Forex john -- Inner Circle 20:18 GMT September 7, 2013
Forex Trading Theme for the Week
Reply   

Whew! quite a week. The penultimate event of the week was the August U.S. employment report on Friday. We have lost track of the number of times in the last five years or so that the market has gotten into a frenzy ahead of time about a stronger than expected non-farm payroll number only to have those hopes dashed. Well it happened once again. The 169K gain in jobs was virtually dead on the 180K market consensus forecast, however, downward revisions to June and July data undermined confidence in the data. The major focus going into the data was whether they would be strong enough to trigger the announcement of a tapering of Fed asset purchases on September 18.

I feel Bernanke and most of the Fed Board have been looking forany chance to "taper"asset purchases and these data could still justify a token tapering. We are convinced that the majority opinion on the Board is that the time has come to draw this program to a close. The September FOMC already has a press conference scheduled so it would be the ideal meeting to taper so Bernanke can explain the decision afterwards. Bernanke is a short-timer so his chance to start to end the program are fast narrowing. Furthermore, bond markets have already priced in an early start to a phasing out of the Fed asset purchase program.

The week is not very full of major items, although it does start off on Saturday (September 7) with national elections in Australia. Some key Chinese data are due early in the week. Friday then features a top-tier piece of U.S. data in the form of retail sales data.For additional key items and more detail (dates, times, data estimates), be sure to reference our href="http://www.global-view.com/forex-trading-tools/weekly.html">Economic Calendar and the Forex Forum as key items are released.

-- John M. Bland, www.global-view.com

Mtl JP 11:27 GMT September 7, 2013
Global Markets News

Fed tapering still on track, hawk and dove agree - rtrs

George Calls for Fed QE Taper to $70 Billion Pace bbrg

HK RF@ 02:55 GMT September 7, 2013
AUD



Yes one must be an Australian to know and understand these things.
Thanks for the info.