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FX Weekly Commentary - Nov 06 - Nov 12 2011
FX Weekly Commentary - Nov 06 - Nov 12 2011
Volume 1, Issue 26
In this issue: Fundamental Outlook AUDUSD GBPUSD USDCAD EURUSD EURAUD Event Risk 4 3 1 2
The Markets look for guidance to start week off and with a quiet start to the week regarding US news the spot light will be on Europe. As markets trade near highs from last weeks lows another move lower is on tap for risk driven assets. A move higher in some of the currency pairs and markets may be where the week starts but not expected to last before the next move to lower support below last weeks lows. With former Greek Prime Minister George Papandreou calling and canceling a referendum concerning further austerity and putting in jeopardy Greeces membership in the EU-17, a G20 meeting bringing Italian government budget woes in the spotlight and ending with a confidence vote confirming Papandreou, markets are nervous about the new political developments from the Mediterranean country. We expect to continue to hear positive and negative news out of Europe giving the markets swings in both directions. We are entering an interesting period of time after the massive swings we have had over the past several months. We are heading into range bound markets that may last for sometime before another move in either direction. With Europe on the brink of disaster, the markets hold their breathe for positive outcomes in all the decisions and plans that need to be executed. The Intercontinental Exchange and CME both decided to lower initial margins for speculative accounts. This easing of liquidity was done as a
Volume 1, Issue 26
Volume 1, Issue 26
Volume 1, Issue 26
Tuesday: EUR: ECOFIN Meetings GBP: Manufacturing Production 4:30am CAD: Housing Starts 8:15am AUD: Home Loans 7:30pm CNY: CPI 9pm
Friday: GBP: PPI Output 4:30am USD: Bank Holiday USD: Prelim UoM Consumer Sentiment
Wednesday: GBP: Trade Balance 4:30am USD: Fed Chairman Bernanke Speaks NZD: RBNZ Financial Stability Report AUD: Employment Change 7:30pm AUD: Unemployment Rate 7:30pm CNY: Trade Balance
Thursday:
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