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Friday March 1, 2013 - 10:45:57 GMT
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Data today increases odds of more European (ECB & BOE) ease next week. U.S. sequester today? Does anyone care?
|Data today increases odds of more European (ECB & BOE) ease next week. U.S. sequester today? Does anyone care?|
1 March 2013 11:00 gmt
CALENDAR- North America: CA- GDP, US- Pers Income, PCE Deflator, Markit PMI, University of Michigan Survey, ISM PMI, Construction Spending, COT Report
- HIGH IMPACT ITEMS: US- Personal Income, PCE Deflator, Markit PMI, University of Michigan, ISM PMI
- Start of the month PMI data have been flowing in and the reports generally have disappointed with many readings weaker than expected, . notably in th U.K., China and Switzerland. Australian data were much stronger than expected. U.S. data comes later.
- Softer than expected Eurozone flash February HICP (CPI) data increasing the odds for an ECB rate cut on Thursday..
- U.S. budget sequester is scheduled to come into effect later today midnight deadline), This is more theater than something catastrophic. Both sides are hoping to use it to their political advantage. Most citizens will not even be aware of the shut down, although the administration will be trying to create as much disruption as it can to make political gains. A last minute face-saving compromise is always possible.
- Italian political uncertainty persists, and is unlikely to be resolved immediately as the various parties jockey for position amid effort to form a new government.
USDJPY 20-day average is 93.09. EURJPY 20-day average is 124.18. 10-yr JGB: 0.66%, 0bp. Key Far East bourses: MIXED.
EURUSD 20-day average:1.3338.10-yr bund is 1.43%, -2bp. European bourses: DOWN
U.S. 10-yr 1.86%, -3bp. U.S. shares: DOWN.
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
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