2013-10-23 00:30 GMT (or 02:30 MQ MT5 time) | [AUD - CPI]
if actual > forecast = good for currency (for AUD in our case)
Australia Q3 Inflation +1.2% On Quarter
Consumer prices in Australia climbed 1.2 percent in the third
quarter of 2013 compared to the previous three months, the Australian
Bureau of Statistics said on Wednesday.
That was higher than forecasts for an increase of 0.8 percent following the 0.4 percent gain in the second quarter.
most significant price rises this quarter were for automotive fuel (up
7.6 percent), international holiday travel and accommodation (6.1
percent), electricity (4.4 percent), property rates and charges (7.9
percent), water and sewerage (9.9 percent) and domestic holiday travel
and accommodation (3.5 percent).
The most significant offsetting price fall this quarter was for vegetables (down 4.5 percent).
individual component, prices for transportation were up 2.4 percent on
quarter, followed by housing (2.0 percent), recreation (1.9 percent),
clothing (1.1 percent), alcohol (0.9 percent) and insurance (0.4
On a yearly basis, consumer prices were up 2.2 percent -
also exceeding expectations for 1.8 percent after gaining 2.4 percent
in the previous three months.
By individual component, prices for education jumped 5.6 percent on year, followed by health (4.1 percent), housing and alcohol (4.0 percent each), transportation (2.7 percent) and communications (1.8 percent).
Reserve Bank of Australia's trimmed mean was up 0.7 percent on quarter -
topping forecasts for 0.6 percent, which would have been unchanged from
the previous quarter following a revision from 0.5 percent.
year, the trimmed mean was up 2.3 percent - beating expectations for 2.1
percent and unchanged from Q2 following an upward revision from 2.2
Where Are The Stops? Tuesday, October 22: Gold And Silver
Below are today's likely price locations of buy and sell stop orders
for the active Comex gold and silver futures markets. The asterisks
(**) denote the most critical stop order placement level of the day (or
likely where the heaviest concentration of stop orders are placed on
See below a detailed explanation of stop orders
and why knowing, beforehand, where they are likely located can be
beneficial to a trader.
Stop Orders Defined
Stop orders in trading markets can be used for
three purposes: One: To minimize a loss on a long or short position
(protective stop). Two: To protect a profit on an existing long or
short position (protective stop). Three: To initiate a new long or short
position. A buy stop order is placed above the market and a sell stop
order is placed below the market. Once the stop price is touched, the
order is treated like a "market order" and will be filled at the best
Most stop orders are located and placed based upon
key technical support or resistance levels on the daily chart, which
if breached, would significantly change the near-term technical posture
of that market.
Having a good idea, beforehand, where the buy and
sell stops are located can give an active trader a better idea
regarding at what price level buying or selling pressure will become
intensified in that market.
The major advantage of using protective stops is
that, before a trade is initiated, you have a pretty good idea of where
you will be getting out of the trade if it's a loser. If the trade
becomes a winner and profits begin to accrue, you may want to employ
"trailing stops," whereby protective stops are adjusted to help lock in
a profit should the market turn against your position.
2013-10-23 14:00 GMT (or 16:00 MQ MT5 time) | [CAD - Overnight Rate Target]
if actual > forecast = good for currency (for CAD in our case)
The Bank of Canada today announced that it is maintaining its target
for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1
1/4 per cent and the deposit rate is 3/4 per cent.
The global economy is expected to expand modestly in 2013, although
its near-term dynamic has changed and the composition of growth is now
slightly less favourable for Canada. The U.S. economy is softer than
expected but as fiscal headwinds dissipate and household deleveraging
ends, growth should accelerate through 2014 and 2015. The nascent
recovery in Europe, while modest, has surprised on the upside. China’s
economy is showing renewed momentum, while growth in a number of other
emerging market economies has slowed as their financial conditions have
tightened. Overall, the global economy is projected to grow by 2.8 per
cent in 2013 and accelerate to 3.4 per cent in 2014 and 3.6 per cent in
In Canada, uncertain global and domestic economic conditions are
delaying the pick-up in exports and business investment, leaving the
level of economic activity lower than the Bank had been expecting. While
household spending remains solid, slower growth of household credit and
higher mortgage interest rates point to a gradual unwinding of
household imbalances. The Bank expects that a better balance between
domestic and foreign demand will be achieved over time and that growth
will become more self-sustaining. Real GDP growth is projected to
increase from 1.6 per cent in 2013 to 2.3 per cent in 2014 and 2.6 per
cent in 2015. The Bank expects that the economy will return gradually to
full production capacity, around the end of 2015.
Gold Prices Finding Interim Resistance Below $1350/oz Level
2013-10-24 12:30 GMT (or 14:30 MQ MT5 time) | [USD - Trade Balance]
if actual > forecast = good for currency (for USD in our case)
U.S. Trade Deficit Widens Less Than Expected In August
With the value of imports and exports showing little change in the
month of August, the Commerce Department released a report on Thursday
showing that the U.S. trade deficit for the month widened only slightly.
report said the trade deficit ticked up to $38.8 billion in August from
a revised $38.6 billion in July. Economists had expected the deficit to
widen to $40.0 billion from the $39.1 billion originally reported for
the previous month.
The Commerce Department said the value of
imports was virtually unchanged at $228.0 billion, while the value of
exports edged down to $189.2 billion from $189.3 billion.
2013-10-24 13:00 GMT (or 15:00 MQ MT5 time) | [USD - Markit Manufacturing PMI]
US: Markit Manufacturing PMI fell to 51.1 in October
The advanced gauge of the manufacturing PMI sponsored by Markit dropped
to 51.1 for the month of October, missing the median at 52.5 and down
from September’s 52.8
US Dollar Stalls at Chart Support, SPX 500 May Turn Lower
S&P 500 TECHNICAL ANALYSIS – Prices recovered as expected after
showing a Spinning Top candlestick at support marked by a rising trend
line set from late February. Buyers are now testing resistance at
1754.40, the 100% Fibonacci expansion, with a Harami candlestick pattern
warning a pullback may be ahead. Near-term support is at 1729.00, the
76.4% Fib.Alternatively, a push above resistance aims for the 123.6%
level at 1779.80.
Expectations: Bullish Argument/Scenario
The larger-than-expected decline in unemployment along with the rise in
private sector consumption may prompt an upbeat GDP report, and a faster
rate of growth may heighten the bullish sentiment surrounding the
sterling as the BoE moves away from its easing cycle.
Risk: Bearish Argument/Scenario
However, the deterioration in global trade paired with the slowdown in
business outputs may limit the scope of seeing a strong GDP print, and a
dismal result may spark a more meaningful correction in the GBPUSD as
the pair continues to hold below key resistance.
How To Trade This Event Risk
Bullish GBP Trade: 3Q GDP Expands 0.8% or Greater
Potential Price Targets For The Release
U.K. GDP increased another 0.6% in the second-quarter after climbing
0.3% during the first three-months of the year, and it seems as though a
British economy is getting on a more sustainable path as it skirts a
triple-dip recession. Despite the in-line print, the bearish reaction in
the GBPUSD pushed the exchange rate below the 1.5300 handle, but the
sterling regained its footing during the North American trade to end the
day at 1.5387.
Just about New Home Sales news event which we should get yesterday at 14:00 GMT (or 16:00 MQ MT5 time) :
US new home sales date delayed
2013-10-24 12:30 GMT (or 14:30 MQ MT5 time) | [GBP - GDP]
if actual > forecast = good for currency (for GBP in our case)