Archive for October 20th, 2009

 

Mr. King Comes Clean and the Market Seems to Like It

Oct 20, 2009 in Grow Financially, Investment Protection, Opportunities

There is no indication monetary policy is changing anytime soon i.e. no one expects a hike in interest rates or change to quantitative easing from the Bank of England. Yet the pound surged on Mr. King’s speech. We know Mr. King knows these numbers, thus his urgency. Maybe Mr….

USD Mixed, BOE and RBNZ Signal Possible Rate Hikes

Oct 20, 2009 in Grow Financially, Investment Protection, Opportunities

The USD is trading mixed to firm as equity markets slide, crude prices fall below $79 a barrel and the BOJ’s Nishimura warns that Japan’s economy still faces significant risks, GBP and NDZ rise as the governor of New Zealand’s central bank said that strong NDZ will not be an…

BoE Minutes: Unanimous Vote on Interest Rates Steady at 0.50% and APF

Oct 20, 2009 in Grow Financially, Investment Protection, Opportunities

The Bank of England released its minutes showing that the vote was unanimous for leaving interest rates unchanged at 0.50% while the nine members of the MPC want to continue the APF program of purchasing gilts worth 175 billion pounds which lasts until next month. The program is aimed at…

Forex Economic Calendar

Oct 20, 2009 in Grow Financially, Opportunities

Date Time* Source Description Forecast Previous
10/21/2009 00:00 AUS Westpac Leading Index (MoM) n/a 1.1%
10/21/2009 00:30 AUS New Motor Vehicle Sales YoY n/a -6.2%
10/21/2009 02:00 NZ Credit Card Spending (YoY) n/a 0.1%
10/21/2009 08:30 UK Bank of England Minutes n/a n/a
10/21/2009 10:00 UK U.K. CBI Quarterly Industrial Trends Total Orders n/a n/a
10/21/2009 18:00 US Fed’s Beige Book n/a n/a
10/21/2009 23:50 JPN Merchnds Trade Imports YoY -38.0 -41.3
10/22/2009 00:30 AUS CBAHIA House Affordability n/a 152.5
10/22/2009 04:30 JPN All Industry Activity Index MoM 0.4% 0.5%
10/22/2009 05:00 JPN Supermarket Sales (YoY) n/a -3.4%
10/22/2009 08:00 EU ECB Euro-Zone Current Account n/a 6.6B
10/22/2009 08:30 UK Retail Sales (YoY) 2.8% 2.1%
10/22/2009 09:00 EU Euro-Zone Govt Debt/GDP Ratio n/a 69.3%
10/22/2009 12:30 CA Retail Sales MoM 0.4% -0.6%
10/22/2009 12:30 US Initial Jobless Claims 517K 514K
10/22/2009 12:30 US Continuing Claims 5990K 5992K
10/22/2009 13:00 US RPX Composite 28dy YoY n/a -12.46%
10/22/2009 14:00 US Leading Indicators 0.7% 0.6%
10/22/2009 14:30 CA Bank of Canada Monetary Policy Report n/a n/a
10/23/2009 00:30 AUS Import Price Index (QoQ) -2.8% -6.4%
10/23/2009 07:30 GE PMI Manufacturing 50.1 49.6
10/23/2009 08:00 GE IFO Surveys n/a n/a
10/23/2009 08:30 UK GDP (YoY) -4.6% -5.5%
10/23/2009 09:00 EU Industrial New Orders SA (YoY) -22.5% -24.3%
10/23/2009 14:00 US Existing Home Sales 5.40M 5.10M
10/26/2009 00:01 UK Hometrack Housing Survey (YoY) n/a -5.6%
10/26/2009 00:30 AUS PPI (YoY) n/a 2.1%
10/26/2009 07:00 GE GfK Consumer Confidence Survey n/a 4.3
10/26/2009 12:30 US Chicago Fed Nat Activity Index n/a -0.90
10/26/2009 14:30 US Dallas Fed Manf. Activity n/a -6.4%
10/27/2009 09:00 EU Euro-Zone M3 s.a. (YoY) n/a 2.5%
10/27/2009 11:00 UK U.K. CBI October Distributive Trades n/a n/a
10/27/2009 13:00 US S&P/CS Composite-20 YoY -11.30% -13.30%
10/27/2009 14:00 US Consumer Confidence 54.4 53.1
10/27/2009 21:00 US ABC Consumer Confidence n/a n/a
10/27/2009 23:50 JPN Retail Trade YoY n/a -1.8%
10/28/2009 00:30 AUS Consumer Prices (YoY) n/a n/a
10/28/2009 01:00 AUS DEWR Skilled Vacancies MoM n/a 1.2%
10/28/2009 02:00 NZ NBNZ Business Confidence n/a 49.1
10/28/2009 12:30 US Durable Goods Orders 0.5% -2.4%
10/28/2009 14:00 US New Home Sales 440K 429K
10/28/2009 20:00 NZ RBNZ Official Cash Rate 2.50% 2.50%
10/28/2009 21:45 NZ Trade Balance n/a -725M
10/28/2009 23:50 JPN Industrial Production YoY% n/a -19.0%
10/29/2009 00:00 AUS Conference Board Leading Index n/a 0.7%
10/29/2009 01:00 AUS HIA New Home Sales (MoM) n/a 11.4%
10/29/2009 02:00 NZ Money Supply M3 YoY n/a 3.5%
10/29/2009 04:00 JPN Vehicle Production (YoY) n/a -25.9%
10/29/2009 08:55 GE Unemployment Change (000′s) n/a -12K
10/29/2009 09:30 UK M4 Money Supply (YoY) n/a n/a
10/29/2009 10:00 EU Business Climate Indicator n/a -2.07
10/29/2009 12:30 CA Industrial Product Price MoM n/a 0.5%
10/29/2009 12:30 US Initial Jobless Claims n/a n/a
10/29/2009 12:30 US Continuing Claims n/a n/a
10/29/2009 21:45 NZ Building Permits MoM n/a 1.7%
10/29/2009 23:50 JPN Natl CPI YoY n/a -2.2%
10/30/2009 00:00 JPN BoJ Target Rate n/a 0.10%
10/30/2009 00:01 UK GfK Consumer Confidence Survey n/a -16
10/30/2009 00:30 AUS Private Sector Credit YoY% n/a 2.5%
10/30/2009 05:00 JPN Housing Starts (YoY) n/a -38.3%
10/30/2009 10:00 EU Euro-Zone Unemployment Rate n/a 9.6%
10/30/2009 12:30 CA GDP MoM n/a 0.0%
10/30/2009 12:30 US PCE Core (YoY) 1.3% 1.3%
10/30/2009 13:45 US Chicago Purchasing Manager 48.3 46.1
10/30/2009 14:00 US U. of Michigan Confidence 72.2 69.4
10/30/2009 20:15 US Bloomberg FCI Monthly n/a n/a

* Times listed are GMT

FX Thoughts for the Day

Oct 20, 2009 in Grow Financially, Investment Protection, Opportunities

Cable rose during the day as the Resistance at 1.6450 sighted earlier broke. This makes the pair bullish for a further rise over the next few days towards 1.6825. There’s slight Resistance at 1.6638 which may be tested during the day. Possibly, there ought not be any looking back and…

Mixed Currency Market

Oct 20, 2009 in Grow Financially, Investment Protection, Opportunities

Overall, the major pairs traded in a range-bound market during the overnight session, with only some weak attempts to move out of recent ranges. The only pair that managed to post considerable gains was the pound, which surged as much as 200 pips following the BoE minutes. Ahead, the calendar…

Equities and Commodities Lower

Oct 20, 2009 in Grow Financially, Investment Protection, Opportunities

European markets opened the day barely above the break-even line, but started heading lower in quick fashion, with financial shares acting as a major drag on most indexes. The declines in Europe were led by Austria?s ATX, which is down 1.50%, closely followed by the Nordic equity markets, which fell…

Messy Global Charts

Oct 20, 2009 in Grow Financially, Investment Protection, Opportunities

The separation in the major currency pairs, with some going long against the dollar, others going short, and some going sideways, confirms the fact that we are seeing a major global market trend test. Equity and commodity markets have had a long bias, for a long time, and now that…

Pressure For SNB Action

Oct 20, 2009 in Grow Financially, Investment Protection, Opportunities

The Swiss currency has again been able to resist significant losses even when risk appetite is stronger and underlying capital flows still appear generally positive. The National Bank will remain an important focus in the short term, especially with the Euro close to the key 1.51 region, and there remains…

BOE Minutes Showed Unanimous Vote to Keep QE Unchanged, Sound Less Dovish

Oct 20, 2009 in Grow Financially, Investment Protection, Opportunities

The pound rallied to 1-month high against USD before the minutes as an article written by BOE Governor Mervyn King stated that the policy rate will increase ‘at some point’ and ‘it would be wise to take this into account’. This signaled King’s change of view on the economic condition…