Quick Technical Overview - Brent Crude Oil: daily bearish reversal or bullish trend to be resumed

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Press review

Sergey Golubev, 2016.11.17 14:57

• past data is 0.3%
• forecast data is 0.4%
• actual data is 0.4% according to the latest press release

if actual > forecast (or previous one) = good for currency (for USD in our case)

[USD - CPI] = Change in the price of goods and services purchased by consumers.

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2016-11-17 13:30 GMT | [USD - Building Permits]

• past data is 1.23M
• forecast data is 1.19M
• actual data is 1.23M according to the latest press release

if actual > forecast (or previous one) = good for currency (for USD in our case)

[USD - Building Permits] = Annualized number of new residential building permits issued during the previous month.

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From official reports:

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EUR/USD M5: 38 pips range price movement by CPI and Building Permits news events

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S&P 500 M5: range price movement by CPI and Building Permits news events

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Dax Index M5: range price movement by CPI and Building Permits news events

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2016.11.19 07:40

Weekly Outlook: 2016, November 20 - November 27 (based on the article)

The US dollar continued marching forward, accompanied by clear hints of a rate hike. US Durable Goods Orders, UK GDP and the all-important FOMC Meeting Minutes stand out in the week of Thanksgiving. These are the major events on forex calendar.

1. Mario Draghi speaks: Monday, 16:00. ECB President Mario Draghi will testify before the European Parliament, in Strasbourg.
2. US Durable Goods Orders: Wednesday, 13:30. Economists expect durable goods to rise 1.2% in September, while core goods to rise 0.2%.
3. US Unemployment Claims: Wednesday, 13:30. The number of jobless claims is expected to reach 241,000 this time.
4. US Crude Oil Inventories: Wednesday, 15:30.
5. US FOMC Meeting Minutes: Wednesday, 19:00. These are the minutes from the November meeting, in which the Fed left rates unchanged but argued that the case for raising rates has “continued to strengthen”.
6. German Ifo Business Climate: Thursday, 9:00. German business climate is expected to register 110.6 in November.
7. UK GDP data: Friday, 9:30. The second estimate is expected to confirm the first one, but changes are not uncommon.