ECB (European Central Bank) will be rendering its rate decision today, and it will have a pivotal short term impact in the Euro dollar. However, it is widely believed that ECB will keep rate unchanged at 1.00%… Here´s the forecast:
7:45am (NY Time) EU ECB Rate Decision Forecast 1.00% Previous 1.00%
ACTION: EUR/USD SELL 0.75%
BOE (Bank of England) will be rendering its interest rate decision today, and it would provide strong volatility in the market if BOE´s final decision turns out to be a surprise, here´s the forecast:
7:00am (NY Time) UK Official Bank Rate Forecast 0.50% Previous 0.50%
APT (Asset Purchasing Target) Forecast 325B Previous 275B
ACTION: GBP/USD BUY 0.75% (Rate) / SELL 350B (APT)
Today’s Trade Result: No trades
February 2012: -30 pips
January 2012: +80.5 pips
December 2011: +67.5 pips
November 2011: +12.5 pips
October 2011: +965.5 pips
September 2011: +289.5 pips
Let’s analyze the market and review the events that took place overnight during the Asian and European market hours. We’ll analyze these news as we start today’s trading after the US market open.
Today’s Trade Result: -10 pips
February 2012: -30 pips
January 2012: +80.5 pips
December 2011: +67.5 pips
November 2011: +12.5 pips
October 2011: +965.5 pips
September 2011: +289.5 pips
Let’s analyze the market and review the events that took place over the weekend during the Asian and European market open. We’ll analyze these news as we start this week’s trading.
RBA (Reserve Bank of Australia) is expected to cut the borrowing costs to 4.00%, as per general market consensus…
Here´s the forecast for this news release:
10:30pm (NY Time) AU RBA Rate Decision Forecast 4.00% Previous 4.25%
ACTION: AUD/USD SELL 4.00% / BUY 4.25%
The Trade Plan
If RBA decides to keep rates unchanged, we will BUY AUDUSD as today’s decision is not based on unanimous consensus… If RBA cuts rates, we should also see a possibility to SELL as the market will be equally surprised.
The Canada IVEY PMI will be released today. This release is considered a leading indicator that receives much attention from traders; especially when its released early in the week before the Employment report. Here’s the forecast:
10:00am (NY Time) CA IVEY PMI Forecast 58.5 Previous 63.5
ACTION: USD/CAD BUY 55.0 / SELL 61.5
This week was driven by risk appetite sentiment as traders took advantage of the improved economic data including the exceptional US January employment report, China’s January manufacturing PMI reading, better European PMI reports, and strong Empire and Dallas Fed manufacturing surveys… Not mentioning Tuesday’s informal EU leaders’ summit, where 25 EU member states (ex the UK and the Czech Republic) further refined their commitment to the new fiscal pact and the €500B ESM permanent bailout fund, which in turn boosted the risk sentiment further.
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Upcoming Forex News Calendar For January 16 ~ 20, 2012
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Forex News Trading US Advanced GDP 01/27/12 Here is the forecast for the US Advanced GDP q/q :
8:30am (NY Time) US Advance GDP q/q
Forecast 3.0% Previous 1.8%
ACTION: SELL ... (2176)
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