Press review - page 89

Sergey Golubev
Moderator
113476
Sergey Golubev  
USD/CAD weekly outlook: February 10 - 14

The U.S. dollar fell to more than two-week lows against the Canadian dollar on Friday after a stronger-than-forecast Canadian jobs report for January dampened expectations for a rate cut by the Bank of Canada.

Tuesday, February 11

Federal Reserve Chair Janet Yellen is to testify on the bank’s semiannual monetary policy report before the House Financial Services Committee, in Washington.

Later in the day, Canada’s government is to release its annual budget statement.

Thursday, February 13

Canada is to release data on new house price inflation.

The U.S. is to produce data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity. The nation is also to release the weekly report on initial jobless claims.

Federal Reserve Chair Janet Yellen is to testify on the bank’s semiannual monetary policy report before the House Financial Services Committee, in Washington.

Friday, February 14

Canada is to produce data on manufacturing sales.

The U.S. is to wrap up the week with the closely watched preliminary reading of the University of Michigan consumer sentiment index. The U.S. is also to release data on import prices and industrial production.
Sergey Golubev
Moderator
113476
Sergey Golubev  
EUR/USD weekly outlook: February 10 - 14

The euro rose against the dollar on Friday after data showed that the U.S. economy added fewer-than-expected jobs last month, but the data did little to alter expectations that the Federal Reserve will continue to scale back its stimulus program.

Monday, February 10

In the euro zone, France is to release data on industrial production.

Tuesday, February 11


Federal Reserve Chair Janet Yellen is to testify on the bank’s semiannual monetary policy report before the House Financial Services Committee, in Washington.

Wednesday, February 12

The euro zone is to release data on industrial production.

ECB President Mario Draghi is to speak at an event in Brussels.

Thursday, February 13

The ECB is to publish its monthly bulletin.

The U.S. is to produce data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity. The nation is also to release the weekly report on initial jobless claims.

Federal Reserve Chair Janet Yellen is to testify on the bank’s semiannual monetary policy report before the House Financial Services Committee, in Washington.

Friday, February 14

The euro zone is to release preliminary data on fourth quarter gross domestic product, the broadest indicator of economic activity and the leading indicator of economic growth. Germany, France and Italy are also to release preliminary estimates on fourth quarter growth.

The U.S. is to wrap up the week with the closely watched preliminary reading of the University of Michigan consumer sentiment index. The U.S. is also to release data on import prices and industrial production.
Sergey Golubev
Moderator
113476
Sergey Golubev  
GBP/USD weekly outlook: February 10 - 14

The pound was higher against the broadly weaker dollar on Friday after data showed the U.S. economy added jobs at a slower-than-expected pace in January.

Tuesday, February 11

The U.K. is to release private sector data on retail sales.

Federal Reserve Chair Janet Yellen is to testify on the bank’s semiannual monetary policy report before the House Financial Services Committee, in Washington.

Wednesday, February 12

The BoE is to release its quarterly inflation report, which outlines projections for economic growth and inflation. BoE Governor Mark Carney is to hold a press conference to discuss the contents of the report.

Thursday, February 13


The U.S. is to produce data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity. The nation is also to release the weekly report on initial jobless claims.

Federal Reserve Chair Janet Yellen is to testify on the bank’s semiannual monetary policy report before the House Financial Services Committee, in Washington.

Friday, February 14

The U.S. is to wrap up the week with the closely watched preliminary reading of the University of Michigan consumer sentiment index. The U.S. is also to release data on import prices and industrial production.
Sergey Golubev
Moderator
113476
Sergey Golubev  
Despite the majority of stocks being overvalued, you can still find buys. Here are four.
  • Home Depot
  • Verizon (VZ)
  • S&P Sector SPDRs (SPY)
  • PowerShares QQQ (QQQ)
Four Buys Among Dow Stocks
Four Buys Among Dow Stocks
  • Richard Henry Suttmeier
  • www.forbes.com
Despite the majority of stocks being overvalued, you can still find buys. Here are four.
Sergey Golubev
Moderator
113476
Sergey Golubev  

2013-02-11 00:30 GMT (or 01:30 MQ MT5 time) | [AUD - House Price Index]

if actual > forecast = good for currency (for AUD in our case)

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Australia Q4 House Prices Rise 3.4% On Quarter

House prices in Australia climbed 3.4 percent in the fourth quarter of 2013 compared to the previous three months, the Australian Bureau of Statistics said on Tuesday.

That beat forecasts for an increase of 3.0 percent following the upwardly revised gain of 2.4 percent in the third quarter (originally 1.9 percent).

6416.0 - Residential Property Price Indexes: Eight Capital Cities, Dec 2013
  • www.abs.gov.au
WHAT'S NEW From the December quarter 2013, all index numbers are calculated on a new index reference period of 2011-12. This results in the index numbers for each index series being reset to 100.0 for the financial year 2011-12. Period-to-period percentage changes may differ to those previously published due to rounding and the...
Sergey Golubev
Moderator
113476
Sergey Golubev  

2013-02-11 15:00 GMT (or 16:00 MQ MT5 time) | [USD - Fed Chair Yellen Speech]

Due to testify on the Semiannual Monetary Policy Report before the House Financial Services Committee, in Washington DC

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Europe Stocks Rise as Yellen Says Jobs Recovery Not Over

European stocks rose, with the Stoxx Europe 600 Index climbing for a fifth day, as Federal Reserve Chairman Janet Yellen said more work is needed to restore the labor market to health.

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Fed chair Janet Yellen promises 'continuity,' further stimuls reduction

U.S. Federal Reserve Chair Janet Yellen says that if the economy keeps improving, the U.S. central bank will take "further measured steps" to reduce the support it's providing through monthly bond purchases.

In her first public comments since taking over the top Fed job last week, Yellen said Tuesday that she expects a "great deal of continuity" with her predecessor, Ben Bernanke. She signalled that she supports his view that the economy is strengthening enough to withstand a pullback in stimulus but that interest rates should stay low to fuel further growth.

FRB: 2014 Speeches
  • www.federalreserve.gov
The Federal Reserve Board of Governors in Washington DC.
Sergey Golubev
Moderator
113476
Sergey Golubev  

USDCAD Technical Analysis (based on dailyfx article)



  • Measured objectives from the breakout above the 2011 high range from 1.1680 to 1.1910. The Jul 2009 high rests in this zone at 1.1724 and the 2007 high is near the top of the zone at 1.1875.
  • The rate has responded to support (1.0990). This is a good place for the larger rally to resume although Tuesday’s outside day warns that the drop isn’t complete.
  • LEVELS: 1.0904 1.0953 1.0999 | 1.1076 1.1132 1.1216



Sergey Golubev
Moderator
113476
Sergey Golubev  
Trading the News: Bank of England Inflation Report (based on this article)

The Bank of England’s (BoE) Inflation Report may produce fresh highs in the British Pound should the central bank retain the 7% unemployment threshold, while preserving a positive outlook for the U.K. economy.

What’s Expected:


Time of release: 02/12/2014 10:30 GMT, 5:30 EST
Primary Pair Impact: GBPUSD
Expected: --
Previous: --
Forecast: --

Why Is This Event Important:

However, the BoE to talk down bets for a rate hike in 2014 as inflation falls back to the 2% target, and the Monetary Policy Committee (MPC) may lay out an interest rate forecast similar to the Federal Reserve in an effort to better-manage market expectations.

How To Trade This Event Risk

Bullish GBP Trade: BoE Shows Greater Willingness to Normalize Sooner Rather Than Later
  • Need green, five-minute candle following the statement to favor a long GBP trade
  • If reaction favors buying British Pound, long GBPUSD with two separate position
  • Set stop at the near-by swing low/reasonable distance from entry; need at least 1:1 risk-to-reward
  • Move stop to entry on remaining position once initial target is hit, set reasonable limit
Bearish GBP Trade: BoE Pushes Back Rate Hike Expectations
  • Need red, five-minute candle to consider a short GBPUSD trade
  • Implement same setup as the bullish British Pound trade, just in the opposite direction
Potential Price Targets For The Release
  • Appears to Have Carved Higher Low as RSI Retains Bullish Trend
  • Interim Resistance: 1.6700 Pivot to 1.6730 (100.0 expansion)
  • Interim Support: 1.6300 Pivot to 1.6310 (50.0 expansion)- Close Basis
Impact that the BoE Inflation report has had on GBP during the last release

Period Data Released Estimate Actual
Pips Change
(1 Hour post event )
Pips Change
(End of Day post event)
NOV 2013 11/13/2013 10:30 GMT -- -- +36 +132
British Pound to Target Fresh Highs as BoE Preserves Forward-Guidance
British Pound to Target Fresh Highs as BoE Preserves Forward-Guidance
  • David Song
  • www.dailyfx.com
The Bank of England’s (BoE) Inflation Report may produce fresh highs in the British Pound should the central bank retain the 7% unemployment threshold, while preserving a positive outlook for the U.K. economy. However, the BoE to talk down bets for a rate hike in 2014 as inflation falls back to the 2% target, and the Monetary Policy Committee...
Sergey Golubev
Moderator
113476
Sergey Golubev  

2013-02-12 02:00 GMT (or 03:00 MQ MT5 time) | [CNY - Trade Balance]

if actual > forecast = good for currency (for CNY in our case)

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AUD buyers cheer up 'unbelievable' Chinese trade numbers

The Australian and New Zealand currencies were the main beneficiary of an astonishingly strong China trade balance, catching most of the players by surprise.

Home
  • ENGLISH
  • english.customs.gov.cn
Officers of Jinhua Customs House(affiliated to Hangzhou Customs District) said they had found 2,400 infringing watches from a consignment of goods declared as “plastic ornaments” on December 25, 2013. Customs officers said the items seized were suspected of infringing upon the intellectual property rights of “ICE-WATCH. Gongbei...
Sergey Golubev
Moderator
113476
Sergey Golubev  

Yellen's Testimony, Chinese Data Upbeat As BoE Hints At Future Rate Hike (based on Forbes article)

Considering the news flow, which has been generally positive for risk, the foreign exchange (forex) market remains tightly contained. This is nothing new; currency ranges have been controlled and handcuffed by central bank monetary policy for the past 18-months. Until there is a clear, distinct break in global interest rates, central banks will continue to play the same tune. Investors lean heavily on guidance, and with Federal Reserve Chair Janet Yellen's debut grilling at the hands of the House of Representatives yesterday, the market was looking for any 'chinks in the armor' on the handover from one Fed head to the next. Alas, it was a non-event. This morning, the spotlight falls on the Old Lady across the pond. Will the Bank of England (BoE) disappoint? Since assuming the BoE’s top job on July 1, 2013, Governor Mark Carney has yet to disappoint capital markets.