Gaza, Obama, Recession and Rate Cuts to kick start the year.
Nexum Capital Markets | Jan 05, 2009 07:00PM ET
And just like that! We’re on the verge of a new year, a new opportunity to prove to ourselves and our clients that we are capable of getting great profits on this market EVEN during tough financial times… “Tough? Better said… the THOUGHEST we’ve all had in the last 70 years!!, But anyways, who’s counting right?” We begin the first full trading week with fundamentals rolling the market to place. Gaza is up on the news and any release about UN or US trying to intervene to help could spike the EUR/USD in any direction. Also we have Obama getting ready to step into the White House, this has everybody exited as most Americans continue to see him as their savior. Let’s hope he lives up to expectations and gets the country out of the current turmoil. IF this happens, we might see the US rule/reign get out of proportion, as they might be the first and ONLY country to dig out of their problems in a ‘split of a second’; while others still try to get out of the quick-sand by Kicking and Screaming (Things you are NOT supposed to do while in quick-sand turf).
Tuesday will bring EZ CPI followed by ISM, and the FOMC minutes later on the day. Its going to be interesting to see what Fed Heads thought as they decided to cut the interest rate close to Zero. Wednesday will give us numbers for EZ PMI. Thursday will be important as we get EZ GDP, expected to continue in the negative side, Unemployment for the US and the Rate decision by the BOE, expected to cut rates further. Finally on Friday we will see the Non-Farm Payrolls on the US. The week is filled with negative releases on both sides of the pond, lets try to see the good things within the bad news. FOMC minutes could give us a peek into what the Fed is expecting on the upcoming months so keep a close eye on Tuesday’s release.
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