Monday January 9, 2017 - 20:42:36 GMT
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Forex Trading Ideas For Tuesday 10 January 2017
Pre-Market Forex Trading Ideas for 10 Jan 2017
WEEKLY HIGH IMPACT NEWS:
09:30 GB- Industrial & Manufacturing Output
09:30 GB- Trade
15:30 US- Crude
13:30 US- Retail Sales
13:30 US- PPI
15:00 US- preliminary University of Michigan
- Activity was slow to start the new week with no major data released. Traders did react negatively in the GBP to a weekend interview of PM May who indicated that the U.K. would have full control of immigration after Brexit. Markets took her comments to mean she is pursuing a "hard" Brexit and that saw the GBPUSD weaken.
- On Tuesday, the U.S. will see a number of typically low-impact trading items, although the JOLTS Survey is said to be closely followed by the Fed.
- The December U.S. Employment report on Friday was mixed and will have no impact on the expected future path of Fed policy. One 25bp Fed rate hike is still fully priced-in by mid-year.
- The current focus of trading is more on the incoming Trump administration than the Fed. Donald Trump will be inaugurated one week for Friday, on January 20.
John M. Bland, MBA
CURRENT CONDITIONS: Mild Risk-Off Profile
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