Huge data week competes with trade.

by | March 10th, 2019, 22:32:24 | News

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Sunday 10.03.2019 FX retail opening

Good evening dear forex friends. I’m a bit late, apols, but I had to clean up my PC’s a bit tonight.
Hopefully you had a peaceful and fun weekend.

The weekend news was relatively subdued in FX terms. Yes UK’s not happy with EU’s “new” or not so new proposals. Theres’ uncertainty over the votes and what EU is going to charge the UK for a delay ok. GBP opens a tad lower. But of course for GBP traders the 12-14 votes will be the main focus of the week.
Chinese data saw a lower than expected money supply in the M2, lower new loans, a bit surprising after the several injections they gave. We might expect a smalls lower CNY/CNH but really “trade” is all that will matter again. Xi’s plans to spend some frequent travellers points to fly to Mar-a-Lago or keep them on his account will give us a clue on the 15. or maybe already before.

Powell’s interview with “60 minutes” is to be released in a few hours. I reckon he’ll be cautious enough to steer away from any bombshells and just repeat the Fed’s cautious approach. The opposite would surprise me.

The coming week is big on data. Big enough to challenge “trade” around the globe in my opinion. In short we will start to have a clearer view on how Q1 2019 could shape up in the world. And it starts right away tomorrow with German IP and trade balance and US retail sales and will go on non stop for the whole week.
For non-GBP investor books, there may be enough food in there to finally start to get involved after months of range trading. Still, I reckon in the end “trade” will be what decide on the BIG move.

For scandie lovers enough food as well with tomorrow’s NOK CPI and Tuesday’s Sweden CPI. Watch out, these babies move pretty sharply on these data.

In the meantime I’m going to try and relax a few more hours before the rollercoaster starts. Here are the rates, be careful, the early hour is very illiquid and sudden moves are never far away.
Stay safe and happy hunting.

 

K-man
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