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Sell GBP, Buy CAD

Today we have a lot of important economic reports - from UK - Retail sales for JAN at 09:30h GMT. From Canada also Retail sales but for DEC and Consumer Price Index for JAN at at 13:30. From US at 15:00 GMT - Existing Home Sales.
With the bad weather in UK, the recent fall of inflation and increase of unemployment I expect the Retail Sales to be under the expectation and I'll try to sell the GBP.
From Canada I expect the Retail Sales to exceed the expectation - we are talking about December wit…
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Convallium avatar
Convallium 21 2月

thank you for your report)

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GBPUSD Time to go deep down?

The inflation in UK for January has fallen under the 2% target of the BOE for the first time since November 2009. The Consumer Price Index has increased with 1.9% y/y with comparison to December of 2% y/y and an expectation of the economist of 2%. The report also showed that the prices has fallen with 0.6% compared to December, which is also the biggest monthly fall since January 2009. The BOE expect the inflation to be close to the target of 2% and will keep the interest rate of 0.5 to stimulat…
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Time to pause the tapering and shorting the USD?

For the last months the US economy seemed to be recovering. With the positive economics data FED did a tapering in with 10b and then with 10b more. But after the December weak US job data with only 75k new jobs and expectation of around 195k, today we saw a second month in a row that the expectation is not met with actual 113k and expectation 185k. Is it time for the FED to pause the tapering? The next FOMC meeting is in March, so we'll have a lot of economics data till then, but I'll have a clo…
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Trading on New Zealand reports tonight

There are 3 reports from New Zealand tonight at 21:45 GMT:
1. The Private Wages Excluding Overtime for Q4, which helps to asses inflation pressure. The expected target is 0.5% q/q and the previous was 0.4% q/q.
2. The Employment Change for Q4 with expected target ~0.6% q/q and previous data 1.2% q/q;
3. Unemployment Rate Q4 with expected target 6.0% and previous data 6.2%;
With this reports I expect a big move, but I have no idea in which direction. For that reason I'll try to catch some pips in…
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GBPUSD

Last week the US dollar was supported by the new tapering of stimulus. The USDX raised to 81.31. The US economy seems to be recovering and the dollar may become even stronger.
On the other hand on a daily chart the GBPUSD is in strong up-trend and the current fall seems to be a correction as it hasn't broke the EMA50 which serves as a support level since August 2013. But if we have a quick look on the weekly chart we'll see that the pair is consolidating since 2009 and currently is almost at the…
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AUDCAD

Australian and Canadian dollar are both weak currencies, but if we have a quick look at the fundamentals and technicals there may be a good trading opportunity.
The Canadian Manufacturing Shipments from Tuesday exceeded the expectations: 0.3 vs 1.0 m/m and the Retail Sales from yesterday also: 0.3 vs 0.6 m/m. On the other hand we have the Australian dollar which is the currency that reacts the most from the economics data from China. Yesterday the manufacturing data from China was weak.
So the C…
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