« Bloomberg Forecasters Agree with my EUR/CHF position! | Home | Buy EUR/CHF in newly established uptrend with “blessing” of the Swiss central bank, while earning daily interest too! »
Canadian Interest Rate Decision, Bernanke Testimony & Australian CPI…all important today!
By Sean Hyman | July 21, 2009
The Canadian rate decision will be out at 9am EST today. It shouldn’t be anything “earth shaking” with such low rates already. However, what could be…are any comments that they make. So have your ear atune to that.
Bernanke will testify at 10am EST today. Oh, he’s going to tell us how he’s going to be able to “reign in inflation” before it gets out of hand…and that’s his job to do so. However, I’ve never seen the U.S. Fed be “proactive” and “preemptive” yet.
They always “react”. So once again, they will be too late and inflation will get much higher than it should before they can get it under control. Nonetheless, if his “talk” is convincing, it could move the dollar today.
Then at 9:30pm EST tonight, you’ll want to pay attention to Australia’s CPI number. This will tell you a lot about the future direction of interest rates there, in my opinion. Also, their Assistant Governor of the RBA will speak at 10pm EST. So see if there’s anything “enlightening” that could move the Aussie dollar.
Lots to watch for today. Should be interesting. I’m still generally bullish on EUR/CHF and bullish (a buyer of) AUD/USD at this point.
Sean Hyman
www.forextradingblog.com
Tags: AUD, Aussie, Australia, Bernanke, blog, CHF, comments, decision, dollar, EUR, fed, forex, forextrading, Hyman, interest, interest rate, interest rates, lot, rate decision, Sean, Sean Hyman, ssi, U.S., USD
Topics: What To Look At In The Market | No Comments »