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Tuesday February 19, 2013 - 10:32:21 GMT
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North America (U.S. and Canada) return from long weekend. German ZEW stronger than forecast. General view Japan still wants weaker JPY.
|North America (U.S. and Canada) return from long weekend. German ZEW stronger than forecast. General view Japan still wants weaker JPY.|
19 February 2013 11:00 gmt
CALENDAR- North America: US- NAHB Index, CA- Mfg Sales
- HIGH IMPACT ITEMS: NAHB Index, CA- MFG Sales
- CURRENCY WARS: NOW that the dust has settled on the G20 meeting, it is pretty clear that the group has given Japan an implicit green light to weaken its currency. Japan FinMIn Aso indicated today that there are no plans to buy foreign bonds. Tokyo has been successful at weakening the currency recently.
- In Europe, ECB President Draghi late last week repeated that the EUR has been trading around its average levels recently and that forex policy is not in the mandate.of the ECB. TRANSLATION: the ECB is not worried about the present value of EURUSD.
- The Gernan ZEW survey was considerably stronger than expected today
- Today U.S. markets will get their first full opportunity to react to the internal memo from a Walmart executive late Friday which expressed serious concerns about the weakness of sales in the past month. Walmart is sometimes seen as a proxy measure for the U.S. economy.
USDJPY 20-day average is 92.11. EURJPY 20-day average is 123.88. 10-yr JGB: 0.74%, -1bp. Key Far East bourses mostly down.
EURUSD 20-day average:1.3447.10-yr bund is 1.63%, 0 bp. European bourses: mostly higher.
U.S. 10-yr 2.00%, 0bp. U.S. shares up.
FX Trade Talk: What's moving markets-- Commentary, data. and data charts posted continuously on FOREX FORUM
John M. Bland, an author and a founding partner of Global-View.com, has been a corporate FX consultant for a major N.Y. bank, a forex trader for a major N.Y. institution, and an FX analyst for a blue chip Fed watching service.. John has an MBA in International Finance and an A.B. in Economics from the University of California at Berkeley.
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- POTENTIAL PRICE RISK: HIGH Mon -- 14:00 GMT EZ- Draghi speaks in Brussels. Looking for any policy hints or bias
- POTENTIAL PRICE RISK: HIGH Tue -- 13:30 GMT US- Existing Homes Sales. Top Housing Statistic
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