Monday January 23, 2017 - 09:29:50 GMT
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Forex Trading Themes For Monday 23 January 2017
Trading Ideas for 23 Jan 2017
WEEKLY Forex Economic Calendar:
24 Jan Tue
09:30 GB- Brexit Court Ruling
15:00 US- Existing Homes Sales
25 Jan Wed
00:30 AU- CPI
09:00 DE- IFO Survey
15:30 US- Crude
26 Jan Thu
09:30 GB- GDP
13:30 US- Weekly Jobless
14:45 US- flash Service PMI
15:00 US- New Homes Sales
23:30 JP- CPI
13:30 US- Durable Goods
13:30 US- GDP
15:00 US- University of Michigan
- The USD is opening the new week with a weak tone as the markets adjust to new U.S. leadership and possibly a new dllar policy. We will be taking this one day, or tweet, at a time.
- Its looking as though the major trend in the EURUSD (down) has lost its way. A key trend indicator that I like to follow is the 20-day moving average. Over the past two weeks it has bottomed and abruptly turned higher for the first time in a half-year. This abrupt change in direction is also visible in the spot market and might explain in part the several bouts of illiquidity in EURUSD as those running longer term positions have been forced to adapt to new realities. At 1.0549, the 20-day average is well below the current spot rate and is well out of synch with current conventional wisdom about where EURUSD should be headed.
- The Inaugural address of Donald Trump Friday surprised many by its lack of broad trends and inspirational themes. Instead it was a populust speech thay sounded a lot like his campaign speech. In so doing, he broke with recent tradition for incoming presidents. While having been elected as a Republican, his policies are very much like a third-Party candidate. Expect him to govern as an anti-establishment chief executive.
- Monday's economic calendar is exceptionally light, but the calendar picks up as of Tuesday. In s speech late Thursday at Stanford University, Fed Chair Yellen comments on the economy and policy remained cautious. She sees little sign that the economy is overheating and indicated a cautious Fed is not behind the curve.
John M. Bland, MBA
CURRENT CONDITIONS: Risk On Profile
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