supertrader05
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Hello All,
News and fundamentals are pretty important for trading - especially I have found with currencies. This is my take on the "currents" within the market at present... (for what its worth!)
This week there are 2 “big event” risks – we have the FOMC meeting minutes on Tuesday (14:00 EST), and CPI with Retail sales figures for the USA on Friday (08:30 EST).
Last time the FOMC meeting minutes confirmed the quantitative easing program mark 2, and the USD has been reeling ever since. But has it reached bottom, or is there more to go? Whichever way the dollar moves, the FOMC meeting minutes are likely to be crucial. It could be a huge impulse move – so I'm going to position myself to catch the wave! I shall look to trade a breakout at the FOMC meeting, if price sets up. Probably on my favourite GBP/USD.
The market has priced in QE2 already – so if there is any news to suggest that the FED do not need to keep their foot on the accelarator, or even that they can back off a bit, then expect a good sized correction in equity markets and currencies. News to this effect would be the FOMC minutes, or CPI figures on Friday, or even a gaff from some of the officials speaking this week.
With the USA and Japan on a Bank holiday, the markets on Monday are likely to be unusually quiet and range bound. There isn’t really much news all day – EXCEPT that trichett is speaking at 12:00 (EST). Trichett is normally pretty calculated – but he is speaking about the financial system.
Does anyone have any other ideas as to what could change sentiment and kick off a reversal? I hope that this post proves useful...
Any comments or posts would be appreciated!!![Smile :) :)](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
News and fundamentals are pretty important for trading - especially I have found with currencies. This is my take on the "currents" within the market at present... (for what its worth!)
This week there are 2 “big event” risks – we have the FOMC meeting minutes on Tuesday (14:00 EST), and CPI with Retail sales figures for the USA on Friday (08:30 EST).
Last time the FOMC meeting minutes confirmed the quantitative easing program mark 2, and the USD has been reeling ever since. But has it reached bottom, or is there more to go? Whichever way the dollar moves, the FOMC meeting minutes are likely to be crucial. It could be a huge impulse move – so I'm going to position myself to catch the wave! I shall look to trade a breakout at the FOMC meeting, if price sets up. Probably on my favourite GBP/USD.
The market has priced in QE2 already – so if there is any news to suggest that the FED do not need to keep their foot on the accelarator, or even that they can back off a bit, then expect a good sized correction in equity markets and currencies. News to this effect would be the FOMC minutes, or CPI figures on Friday, or even a gaff from some of the officials speaking this week.
With the USA and Japan on a Bank holiday, the markets on Monday are likely to be unusually quiet and range bound. There isn’t really much news all day – EXCEPT that trichett is speaking at 12:00 (EST). Trichett is normally pretty calculated – but he is speaking about the financial system.
Does anyone have any other ideas as to what could change sentiment and kick off a reversal? I hope that this post proves useful...
Any comments or posts would be appreciated!!