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Tweet above said it all about reaction to ECB announcement on Thursday, although QE seem to be inevitable at this point for Eurozone, some steps have to be taken prior to actually starting it. EUR/USD bounced towards 1.245 on those news, before much better than expected NFP numbers took this pair to pre-ECB meeting levels.Going into coming week the only major central bank decision will come from RBNZ on Wednesday, the currency board below reflects bearish bias towards NZD currency.

Weekly Currency Board



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Prime Risk Events (UTC time) Monday 8 Dec German industrial production (October), 7am: The MoM figure is expected to fall by 0.2%, from last month’s 1.4% rise, while the YoY picture improves with an unchanged reading after last month’s 0.1% decline. Market to watch: EUR/USD   EUR/GBP Tuesday9 Dec China trade balance (November), 1.30am: An important measure, this number indicates how much the Chinese economy is exporting versus how much it is importing. This month the figure is expected to be $44.6 billion in surplus, a slight decline from October’s $45.4 billion surplus. Market to watch: China A50   Hang Seng   USD/JPY   Copper

UK industrial and manufacturing production (October), 9.30am: Industrial production is expected to weaken slightly in October, to 1.46% from September’s 1.5%, while manufacturing production is forecast to improve, growing by 4.2% from 2.9% in September. Market to watch: GBP/USD   EUR/GBP

US JOLTS job openings (November), 3pm: After September’s 4.74 million, the number of new job positions still open is forecast to rise to 4.82 million. Market to watch: US indices, dollar crosses

Wednesday 10 Dec China CPI (November), 1.30am: Price growth in November is expected to be 0.1% MoM and 1.47% YoY. Market to watch: China A50   Hang Seng   USD/JPY   Copper

UK trade balance (October), 9.30am: The UK’s position is expected to improve, with the deficit falling to £2.3 billion from £2.84 billion in October. Market to watch: GBP/USD   EUR/GBP

US EIA crude inventories, 3.30pm: Expectations are for stockpiles to drop sharply, falling by 10.2 million last week from the previous decline of 3.7 million. Market to watch: US light crude

Thursday 11 Dec Australian unemployment (November), 12.30am: The unemployment rate is forecast to hold steady at 6.2%, while the number of Australians in work is expected to rise by 4200, down from the 24,100 that found work in October. Market to watch: S&P/ASX 200   AUD/USD

German CPI (November, final), 7am: The final revision on German price growth is expected to show YoY growth of 0.6% and no change MoM. Market to watch: EUR/USD   EUR/GBP

ECB monthly report (December), 9am: The report unveils the data used by the European Central Bank in their latest interest rate decision, and provides further analysis of economic conditions in the eurozone. Market to watch: EUR/USD   EUR/GBP

US retail sales (November), initial jobless claims, 1.30pm: Jobless claims are expected to be 277K for the week, continuing the improving trend after the previous week’s drop to 297K. Market to watch: US indices, dollar crosses

Friday 12 Dec China retail sales, industrial production (October), 5.30am: YoY growth in retail sales is forecast to be 12.9% from 11.5%, while industrial production is forecast to rise by 7.9% from 7.7%. Market to watch: China A50   Hang Seng   USD/JPY   Copper

Eurozone industrial production (October), employment (Q3), 10am: These data are expected to show further deterioration, with industrial production falling 0.3% MoM and 0.7% YoY, while markets will be hoping the employment picture improves from the 0.2% QoQ growth and 0.4% YoY growth of the previous quarter. Market to watch: EUR/USD   EUR/GBP

University of Michigan consumer confidence (December, preliminary), 2.55pm: The first reading for December is expected to be 89.1, an improvement on the final November reading of 88.8. Market to watch: US indices, dollar crosses

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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