Zzzz …What Will it Take to Wake up this Market?
My goodness, it has been (yawn) so slow so far this week. We had a good gap on Sunday which seemed to set us up for a motivated market, but here we are (yawn) still waiting.
Market seems to have stuffed its Euros under the mattress while the good news/bad news tug of war goes on there. Big money has put their Pounds in the cookie jar while the election tug of war goes on there. Even the Yen traders seem to be in miser mode. So what’s it going to take?
In looking at the calendar of events for the week it’s hard to find anything that might get the market excited, however we do have something tomorrow (April 14, 2010) that may give us a little more volume than we’ve had so far. The United States will reveal (drumroll please) March’s Consumer Price Index (CPI) numbers. Did you just yawn?! Yeah, me too. BUT… there is hope.
A recent increase in gas prices as well as an increase in March’s US Import prices may nudge the CPI a little higher. This might be good for the USD regardless of how it is perceived, at least in the short term. If it is perceived as a significant indicator of inflation it may spark talks about an increase in US interest rates. If it is perceived as being within the normal range of recent CPI then discussions about why it’s OK may remind investors that the US has positive job growth in recent history as well as in the foreseeable future.
CPI isn’t normally a big market mover, but on a slow news day (week) it may be enough to stir interest – and that, and a nap, is just what the doctor ordered.
I know this is reaching a bit, so what do you think the market is waiting for?
Triffany Hammond helps traders of all levels, gain the tools, resources and guidance necessary to build on their strengths and work around their weaknesses so that they can make the best possible decisions for themselves in the Forex Market. Triffany is a regular speaker and contributor at 
