Thursday January 5, 2017 - 10:09:21 GMT
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Forex Trading Ideas For Thursday 5 January 2017
Forex Trading Ideas for 5 Jan 2017
- Heavy forex intervention by the PBOC in the Chinese yuan to combat large capital outflows and to strengthen the currency generated havoc in overseas markets. The activity saw the USD weaken sharply vs. the EUR and JPY weaken as well. Markets have since stabilized. As in the case of the SNB fiasco, governments are likely to have words with the PBOC about being a source of market instability.
- Fed Policy Minutes Wednesday sent mixed messages. The two most salient items seemed to be that increased fiscal stimulus should cause the FOMC to raise its economic growth forecasts, but that a resultant higher USD could be a restraint on inflation. As the dust settled, the markets seemingly were reading the statement as mildly hawkish.
- Today sees more PMI data and the ADP Report. On Friday key employment reports from the U.S. and Canada are due.
WEEKLY HIGH IMPACT NEWS:
Various Service PMIs
13:15 US- ADP Payrolls
13:30 US- Jobless Claims
16:00 EIA Crude
07:00 DE Retail Sales
13:30 US/CA- Employment/Trade
John M. Bland, MBA
CURRENT CONDITIONS: Mixed Risk Profile
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