The traders are back at their desks with a triple espresso, the politicians are back from their hols, and the children are at school: big sighs of relief all round and let normal service resume… um, no, not quite.
September is a special month with a rare triple witching near the end of the month, the G20 summit and tonnes of other headline stuff for our players to trade on.
To start the week we will be riding the effects of the G20 summit in China as markets digest what the political heavyweights decided. And then there is Thursday. This week Thursday is a big day and here’s why.
- CHY trade balance
- AUD trade balance
- Crude oil inventories
- EUR central bank minimum bid rate and press conference
- US unemployment claims
Well, well, well, it puts a twinkle in our eyes to see such a wealth of opportunity. That’s a lot of action for one day and we mean to make the most of it.
Starting off, the close trade relationship between Australia and China means the 2.30am GMT AUD trade balance will affect both currencies. We expect the Chinese figures to arrive within a few hours of the AUD announcement, though the time is not yet fixed. It could be a real rollercoaster for the CHY as well.
Later in Europe, the central bank minimum bid rate at 12.45pm GMT is important for interest rates but it’s been stable at 0.0% for months. The press conference 45 minutes later could be a lot juicier if some interesting questions get asked when they open the floor. Set up your position on the EUR going in and you could make a killing.
A busy day is one thing but chaps (and chapettes – TIQL is very equal opportunity) when you have two big events at the same time you need to be a very special player indeed. Or at least have set up your strategy in advance: so we advise you do that. Look at the charts, listen to the pundits, and make your punt. It could be a good plan to stay tuned to the EUR central bank press conference at 1.30pm GMT but the release of the US Unemployment Claims another massive hitter in the field, is at the same time. We’re getting a buzz on already. Two screens. Two big waves to ride.
But it doesn’t end there. Keep riding the wave in the US as the Crude Oil Inventories are released at 4.00pm on Thursday this week, not the usual Wednesday of recent weeks.
Woohoo – get through all that and you deserve your favourite tipple in that little place you know. Get to it.