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Forex Traders Daily
4:30 AM EST UK CPI y/y – Change in the price of goods and services purchased by consumers. GBP/USD In August the deviation was .1 but I don’t have any other info about the movement. In September we saw -.1 with a 10 pip spike. Looks like it spiked down slightly and then retraced way…Details
Nothing again last week, though at least we got the election over with. The futures markets really crashed when it started to become apparent that Trump might actually win, falling 850 or so on the Dow. In my infinite wisdom I had shorted the S&P as a hedge against all the stocks and options. Went…Details
3:00 PM EST NZD Official Cash Rate – Interest rate at which banks lend balances held at the RBNZ to other banks overnight. NZD/USD Note the time of this trade is 3 PM and not 5 PM like I said in the weekly post. Of the 15 economists weighing in, all 15 think the rate…Details
I was hoping for a decent NFP, but the deviation was small and the pre-news movement was much more muted than on the typical NFP, primarily due to the election on Tuesday. Also Friday is a bank holiday for the US, Canada, and Europe. It looks like most of the trades have been pushed into…Details
8:30 AM EDT US Non-Farm Employment Change – Change in the number of employed people for the prior month. EUR/USD or USD/JPY The currency pair to choose on this is really a tough call. None of them are ideal. The Euro has its own economic issues and the Yen gains strength in times of market…Details
8:00 AM EDT UK Official Bank Rate – Interest rate at which the BOE lends to financial institutions overnight. GBP/USD Of the 60 economists weighing in, 56 think the rate will remain at 0.25%, 3 think it will fall to 0.10%, and 1 thinks it will fall to 0.05%. The odds are strong it will…Details
2:00 PM EDT US Federal Funds Rate – Interest rate at which depository institutions lend balances held at the Federal Reserve to other depository institutions overnight. USD/JPY Of the 90 economists weighing in, all 90 think the rate will remain at 0.50%. I’d trade only in the buy direction on the USD/JPY. ORACLE TRADER –…Details
8:30 AM EDT CAD GDP – Change in the inflation-adjusted value of all goods and services produced by the economy. USD/CAD In July we saw -.1 and .5 with an 8 pip spike. This analysis is for the CAD/JPY. The deviation was low and the second row came out against the first. The orders went…Details
11:30 PM EDT AUD Cash Rate – Interest rate charged on overnight loans between financial intermediaries. AUD/USD Of the 27 economists weighing in, 21 think the rate will remain at 1.50% and 6 think it will drop to 1.25%. For what it’s worth, given the data available today, all the economists think it will either…Details