Algorithmic Trading One Line News
automated trader rss feed

FX Update: European Outlook

Posted:28/11/2008 8:24 by Peter Burnside
This week's stock market bounce, which in all likelihood is a bear market rally, helped foster a calmer tone in FX markets this week, which looks likely to remain the case into next week. The US markets reopen, but to an abbreviated session and there are no data releases or scheduled events of note. Meanwhile, a batch of data out of Japan earlier, which included production, retail sales, inflation and unemployment, revealed a worrisome drop (with the exception of jobless, which in fact fell due to a shrinkage in the labour force). Also, US 10-year Treasury yields continue to trade near 50-year lows, disconnecting with equity markets currently in reflecting recessionary fears and safe haven demand. The overnight release of UK November GfK consumer confidence showed a surprising improvement to -35 (median -38) from -36, likely aided by the huge BoE rate cut, but it remains close to its series low. The GBP market will look to the CBI distributive trades survey release today, expected to show a decline in realized sales to -30. Other data today include preliminary eurozone inflation data for November and the Swiss KOF indicator. Canada has Q3 current account data and October industrial product prices. click here to return to the top of the page
  • Copyright © Algorithmic Media Ltd 2009
http://www.traderslaboratory.com You need to upgrade your Flash Player