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The first estimate of 4Q2008 U.S. gross domestic product will be released by the U.S. Department of Commerce’s Bureau of Economic Analysis on 30 January 2009 at 8:30 AM Eastern time, or 11:30 PM Canberra time. Most economic analysts are expecting a drop of at least −4.5 to −5.0% in the fourth quarter of 2008, [...]
Week ending 23 January 2009: Fear continued to drive forex trading this past week, with JPY and USD appreciating as safe havens, and further weakness in GBP, EUR, and commodity currencies.
January Westpac consumer confidence printed at −2.2 from 7.5 previous. New motor vehicle sales in December rose 1.8%, nevertheless are down −15.7% y/y, while 4Q2008 [...]
Three major releases in the second half of this forex trading week carry the potential to move the pound sterling dramatically. These three fundamental releases are the minutes of the latest Bank of England rate-setting meeting, the unemployment report, and the first estimate of fourth quarter U.K. gross domestic product.
At the 8 January 2009 Monetary [...]
Week ending 16 January 2009, another round of risk aversion as corporate earnings season emphasizes the undercapitalization still dogging many international banks and more government bailouts were required in the U.S. The disconnect between fundamental data and currency pair behaviour became sharper as fear dominated forex trading.
The Australian economy shed −1.2K jobs in December, significantly [...]
The ECB rate decision will be announced 15 January at 12:45 PM GMT (11:45 PM in Canberra), and at this time the forex trading market has priced into the Euro currency crosses a 50bps reduction in refi rates to 2.0% from the current level of 2.5%.
The Eurozone-wide consumer price index printed 1.6% y/y in December, [...]
Week ending 9 January 2009: The first full week of trading for the year found many currency pairs seeking new balances as liquidity normalises, with ranges remaining generous.
Australia’s November retail trade grew by 0.4% m/m with trend registering 0.1%, while dwelling approvals fell −12.8%, 34.7% y/y, and the trade surplus narrowed to AU$1.45Bn, significantly below [...]
It’s said that markets always overreact, with prices rising or falling beyond defensible levels in bouts of irrational exuberance as traders trade for the sake of trading rather than offering or asking reasonable prices for their wares. Nowhere is this truism more telling than the forex trading market. When a currency pair initiates a trend, [...]
Week ending 2 January 2009, 2008 came to an end with a trading week abbreviated by holidays, light data calendars, and thin trading. Many currency pairs remained in narrow ranges despite the amplification effect of low volatility, while the VIX index eased below 40 and the TED spread fell below 150bps for the first time [...]
