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Canada IVEY PMI 03/04/2010

March 3, 2010 By Henry Liu 3 Comments
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10:00am (NY Time) CA IVEY PMI      Forecast 56.0    Previous 50.8
ACTION:  USD/CAD    SELL 55.5    BUY 49.0

We’ll be trading the IVEY PMI from Canada today, it is the equivalent of both ISM PMI’s out of US where purchasing managers of all sectors of the economy participate in this survey.  And as with PMIs, they are all considered as leading indicators with the medium point at 50, therefore a reading of  above 50 would be considered as expansion in the economy whereas a reading below 50 would be considered as contraction in the economy.

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Filed Under: CAD Ivey PMI, Canada, Forex News Trade Tagged With: , , , , , , , , , , , , , , ,

FOREX ECB Trichet Press Conference 03/04/2010

March 3, 2010 By Henry Liu Leave a Comment
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8:30am NY Time ECB Chairman Trichet Press Conference
ACTION: N/A

We’ll be focusing on the ECB (European Central Bank) Chairman Jean-Claude Trichet press conference today as he releases an official statement from ECB regarding the official Interest Decision, followed with a brief Q&A Session… Here is an overview of the situation

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Filed Under: EUR ECB Press Conference, Europe, Forex News Trade Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , ,

ECB Minimum Bid Rate Decision 03/04/2010

March 3, 2010 By Henry Liu Leave a Comment
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7:45am (NY Time) EU ECB Rate Decision  Forecast 1.00%  Previous 1.00%
ACTION: EUR/USD       N/A

ECB (European Central Bank) is likely to once again leave its minimum bid rate at 1.00% or unchanged this month.  The majority of analysts agree to this sentiment as  according to ECB, it is will keep rates unchaged until 2011. 

Euro Zone is still plagued with the imbalanced economic recovery of its member countries, especially Greece, Spain, Portugal, and Italy… As a matter of fact, even with the Austerity Measures issued by Greece yesterday, the risk of a sovereign default is still possible.

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Filed Under: EUR ECB Interest Rate, Europe, Forex News Trade Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

UK BOE Official Bank Rate Decision 03/04/2010

March 3, 2010 By Henry Liu Leave a Comment
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7:00am (NY Time) UK Offcial Bank Rate Decision  Forecast 0.50%   Previous 0.50%
ACTION: GBP/USD      N/A

UK’s BOE, Bank of England’s Monetary Policy Committee (MPC) is once again scheduled to release their interest rate decision today and the expectations are to keep both their official rates at 0.50% and APF (Asset Purchasing Facility) at 200 Billion Pound (at least for the time being). The important focus as usual today will be the accompanying BOE Statement if they decide to release one.

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Filed Under: Forex News Trade, Great Britain, UK Interest Rate Tagged With: , , , , , , , , , , , , , , , , , , ,