ACFX London opening technical report - 26.11.2014

[Atlas CapitalFx]

ACFX London opening technical report - 26.11.2014





What news will drive the markets today

With the USA heading into the Thanks Giving holiday it would not be unexpected to see the markets experience irregular volatility and low liquidity. However there are some important news releases that are coming out today which could have some impact on todays tradng direction.

We start off early in the European market with the UK's release of the Second Estitmate GDP numbers. The market is looking for no change at 0.7% with a number lower than this possibly adding downside pressure once again on the embattled Pound.

Across the Atlantic at 1:30pm we have the latest release from the Census Bureau of the Core Durable goods number. The market is looking for a beat of the prior report of -0.1% with a consensus estimate of 0.5%.

Later in the afternoon we have the important New Home Sales release again frorm the Census Bureau with traders looking for a continuation of the positive trend. The expectations are for an actual of 471K against the prior of 467K.

In the evening Kiwi watches will be monitoring the news wires for the latest release of the New Zealand Trade Balance. The market expects an improvement of the countries trade balance sheet with estimates of tonights release coming in at -645M against a prior of -1350M.