Blanks of the trader
Going into last part of the year, coming week may be not the busiest one in terms of number of risk events on the horizon due to thanksgiving holidays in US. Despite that many pairs are firing signals particularly EUR shorts and NZD longs look very promising on the balance for the week.Weekly Currency Board
Shorts EUR/AUD, GBP/AUD
Shorts EUR/AUD, EUR/JPY, EUR/NZD, EUR/CAD
Long NZD/CHF; Shorts EUR/NZD, GBP/NZD
Shorts GBP/AUD, GBP/NZD, GBP/CAD
Shorts CHF/JPY, CAD/CHF; Long NZD/CHF
Shorts CHF/JPY, EUR/JPY
Long CAD/CHF; Shorts GBP/CAD, EUR/CAD
Chicago Fed Index (October), 1.30pm: This is expected to weaken to 0.23 from the previous 0.47. Market to watch: US indices, dollar crosses
US services PMI (November, preliminary), 2.45pm: Further bad news is forecast here, with the number expected to drop to 56.9 from 57.1. Market to watch: US indices, dollar crossesTuesday 25 Nov German GDP (Q3, final), 7am: With all the data now available, the forecast is for quarter-to-quarter growth to move from -0.1% to 0.1%, while the year-on-year number rises to 1.2% from 1%. Market to watch: DAX Spot FX EUR/USD Spot FX EUR/GBP
US GDP (Q3, second reading), 1.30pm: The second QoQ estimate is expected to move down to 3.3% from 3.5%. Market to watch: US indices, dollar crosses
Case-Shiller home price index (September), 2pm: YoY growth is forecast to be 5.6%, as the rebound in home prices continues. Market to watch: US indices, dollar crosses
US consumer confidence (November), 3pm: The November figure is expected to rise to 94.9 from 94.5. Market to watch: US indices, dollar crossesWednesday 26 Nov UK GDP (Q3, second reading), 9.30am: Forecasts are for the number to hold steady at 0.7% QoQ and 3% YoY. Market to watch: Spot FX GBP/USD Spot FX EUR/GBP
US durable goods orders (Oct), initial jobless claims, 1.30pm: Durable goods orders are estimated to have shrunk by 0.5%, although excluding transportation are forecast to have risen by 0.4%, after September figures of -1.3% and -0.2% respectively. Meanwhile jobless claims were 291,000 last week. Market to watch: US indices, dollar crosses
Chicago PMI (November), Michigan confidence index (November, final), pending home sales, 2.45-3pm: The US data barrage continues, with the Chicago PMI expected to fall to 63 from 66.2, while the final confidence reading for November is revised up to 90 from 89.4, with pending home sales expected to increase 0.5% MoM from 0.3% in September. Market to watch: US indices, dollar crosses
EIA crude inventories, 3.30pm: Stocks of WTI are expected to rise to 3.1 million from 2.61 million. Market to watch: US light crudeThursday 27 Nov German unemployment (November), 8.55am: The number is expected to fall by 5,000, from a 22,000 drop last month, while the rate stays unchanged at 6.7%. Market to watch: DAX Spot FX EUR/USD Spot FX EUR/GBP
German CPI (November, preliminary), 1pm: Price growth in Germany is expected to be 0.0% MoM (from -0.3%) and 0.6% YoY (from 0.8%). Market to watch: DAX Spot FX EUR/USD Spot FX EUR/GBP
Japanese CPI (October), 11.30pm: Price growth YoY is expected to be 3% for nation as a whole, from 3.2% last month. Market to watch: Spot FX USD/JPYFriday 28 Nov Eurozone CPI (November), unemployment (October), 10am: The first estimate of price growth is expected to be 0.3% for the month, while the unemployment rate stays at 11.5%. Market to watch: Estoxx 50 Spot FX EUR/USD Spot FX EUR/GBP
Canadian GDP (Q3), 1.30pm: The Q2 figure was 2.2% YoY, with any improvement likely to be bullish for the Canadian dollar. Market to watch: Spot FX USD/CADCAD/CHF
This pair made moderate gains in recent week and seem to be setting up for bullish acceleration. Bullish pattern below may be good place for long entry if anticipated move will persist.
Have a good one traders and click the button below if you choose to contribute to further development of this blog.
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