UK MPC Minutes, US New Home Sales, FOMC Rate, RBNZ Rate
11:30 UK MPC Minutes 1-0-8(E) 1-0-8(P) 2(S) 50M
17:00 US New Home Sales 300K(E) 290K(P) 70K(S) 50M
21:15 US FOMC Rate Decision N/A
22:00 NZ RBNZ Rate Decision 3.0%(E) 3.0%(P) 0.25%(S) 50M
E = Expected Release Figure
P = Previous Release Figure
S = Deviation or Surprise Factor
M = Expected Movement In Pips (if deviation is hit)
NEWS TRADING
Wed January 26, 2011
[11:30 EU Time]
MPC Meeting Minutes is scheduled to be released today and since it
is customary for BOE (Bank of England) not to release a statement
along with its interest rate decision (2 weeks ago) if there were no
changes in either rate decision or APF (Asset Purchasing Facility,
UK's quantitative easing program), today will be the first time for
a glimpse into what took place during this meeting, here is the
forecast:
11:30 EU Time UK MPC Meeting Minutes Forecast 1-0-8 Previous 1-0-8
ACTION: GBP/USD BUY (2 Vote For Hike) / SELL (2 Vote For QE)
[17:00am EU Time]
U.S. New Home Sales usually follows the trend of Existing Home
Sales, therefore we are likely to see a strong release today. Here
is the forecast:
17:00 EU Time New Home Sales Forecast 300K Previous 290K
ACTION: SELL 370K EURUSD BUY 230K EURUSD
[21:15pm EU Time]
The Federal Reserve will probably not surprise the market today and
keep the current Federal Funds rate unchanged while leaving the 600
Billion Dollar stimulus in place as economy is showing moderate
signs of recovery.
[22:00pm EU Time]
RBNZ (Reserve Bank of New Zealand) will be releasing its interest
rate decision today and it is widely expected that Gov. Bollard will
keep rates unchanged today at 3.00%; here is the forecast:
22:00 (EU Time) RBNZ Rate Decision Forecast 3.00% Previous 3.00%
ACTION: NZD/USD BUY 3.25%
by Forexsoup