Trade Talk: What's Moving Markets continuous on Forex Forum
Key Items: CA- CPI. US- University of Michigan Survey, LEI.
U.K. July Retail Sales data were much stronger than expected and gave the GBP a lift on Thursday while U.S. data were mixed.
Those hoping for stronger U.S. data are now looking ahead to the Bernanke at Jackson Hole later this month. Some were saying that QE3 is now more likely. We doubt it unless future data unexpectedly fall off the table.
The key EURUSD 20-day average is 1.2275. The 10-yr bund is 1.53%,
-3 bp Key European bourses closed up. The U.S.10-yr is 1.83%, 2 bp. U.S. shares are up.
Key Asian bourses ended mixed. The 10-yr JGB was 0.86%, +4 bp. The key USDJPY 20-day average is 78.45. EURJPY 20-day average is 96.30. Japanese officials continue to threaten JPY intervention. Japan should will see a leadership change now that the hike in the national consumption tax was approved.
Check the Forex Forum over the day for an updated and ongoing discussion of current trading themes in the MARKET CHATTER continuous discussion thread.
See ECONOMIC CALENDAR for a complete list of future forex market events and consensus data estimates. Go to the forex forum for up-to-date market developments and technical trading ideas.
John M. Bland is an author and co-founder and partner of Global-View.com. Prior to Global-View.com, he was a forex trader and a private-label forex analyst for a top Fed watching service in NYC. He has been a corporate forex advisor and also worked in international liability management for a major N.Y. money center bank. John holds an MBA from the University of California at Berkeley and a B.A. in International Economics from that school.
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