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  1. #511
    Master Member Bogdan G's Avatar
    Quote Originally Posted by Kolyo View Post
    Seems Draghi speech is influencing the markets in the moment
    Fortunately I was bullish on the Euro
    Insanity: doing the same thing over and over again and expecting different results. Albert Einstein (attributed)

  2. #512
    Master Member Bogdan G's Avatar
    A really bad week for the US Dollar has just ended. This week we have 2 potential market movers for the USD so be prepared
    Wednesday July 5 at 6:00 pm GMT the Fed will release the FOMC Meeting Minutes, a document that contains details of the reasons that determined the latest rate vote. The impact of the release is greater if the Minutes show hints about future monetary policy direction. So basically if they say they'll increase rates at a fast pace, the USD will strengthen but if they dont offer any clues, the release may go unnoticed.
    Insanity: doing the same thing over and over again and expecting different results. Albert Einstein (attributed)

  3. #513
    Master Member Bogdan G's Avatar
    Friday July 7 at 12:30 pm GMT be ready for some USD action because the Non-Farm Payrolls come out. This is widely considered the most important US jobs indicator and strengthens the greenback if it posts higher than expected numbers. The forecast is 175K, while the previous was 138K.
    At the same time, pay attention to the Average Hourly Earnings, an indicator that shows changes in the price that businesses pay for labor. If people are paid more, they tend to spend more (thus boosting consumer spending levels), so usually a change higher than the anticipated 0.3% strengthens the greenback.
    Insanity: doing the same thing over and over again and expecting different results. Albert Einstein (attributed)

  4. #514
    Master Member Bogdan G's Avatar
    Fed Chair Yellen will testify twice this week, so i expect to see some movement on the USD
    First testimony is scheduled Wednesday July 12 at 2:00 pm GMT, before the House Financial Services Committee on the topic of the Semiannual Monetary Policy Report (text of the testimony is released 90 min earlier)

    Second testimony is scheduled Thursday July 13 at 2:00 pm GMT but this time it's before the Senate Banking Committee (same topic as before).
    Insanity: doing the same thing over and over again and expecting different results. Albert Einstein (attributed)

  5. #515
    Master Member Bogdan G's Avatar
    The week ends Friday with the release of the US Consumer Price Index, which is one of the main gauges of inflation and the US Retail Sales. Both indicators come out at 12:30 pm GMT (July 14). Usually higher than anticipated numbers strengthen the US Dollar.
    CPI forecast: 0.1%
    Retail Sales forecast: 0.2%
    Insanity: doing the same thing over and over again and expecting different results. Albert Einstein (attributed)

  6. #516
    Master Member Bogdan G's Avatar
    The Pound has been on a tear lately and I believe the next move will be decided by teh British Consumer Price Index, released Tuesday July 18 at 8:30 am GMT. This is the main gauge of inflation and usually a higher than predicted change strengthens the currency because eventually high inflation pushes the Central Bank to raise interest rates. Tuesday's forecast is 2.9%, same as previous.
    Insanity: doing the same thing over and over again and expecting different results. Albert Einstein (attributed)

  7. #517
    Master Member Bogdan G's Avatar
    The highlight for the Euro this week will be the ECB Rate Decision, scheduled Thursday July 20 at 11:45 am GMT. Currently teh rate is set at 0.00% and no change is anticipated but ECB President Mario Draghi will hold a press conference shortly after, at 12:30 pm GMT and usually this triggers very high volatility, with erratic movement sometimes. I'll be very careful at that time and probably won't trade until the conference is over.
    Insanity: doing the same thing over and over again and expecting different results. Albert Einstein (attributed)

  8. #518
    Master Member Bogdan G's Avatar
    The Fed is in the spotlight again this week: on Wednesday July 26 at 6:00 pm GMT they will announce the interest rate (no change expected from the current <1.25%) and the FOMC will release a Rate Statement outlining the reasons behind the rate decision. I dont expect the rate announcement to create major movement (unless they actually change it of course) but if the Rate Statement contains any hints about the future pace of rate hikes, then we will see some USD action.
    Insanity: doing the same thing over and over again and expecting different results. Albert Einstein (attributed)

  9. #519
    Master Member Bogdan G's Avatar
    Friday July 28 at 12:30 pm GMT the US Advance Gross Domestic Product is released, with an expected change of 2.5%, which is a huge increase from the previous 1.4%. The GDP is the main gauge of economic performance and the Advance version is the most important, so buckle up for some strong movement if the actual numbers differs from market consensus. Higher numbers strengthen the USD and lower numbers weaken it.
    Insanity: doing the same thing over and over again and expecting different results. Albert Einstein (attributed)

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