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Tuesday March 5, 2013 - 21:42:43 GMT
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EZ/UK Service PMIs better. Await Bank of Canada decision Wed. U.S. ADP jobs data due Key Central banks meet all week.
|EZ/UK Service PMIs better. Await Bank of Canada decision Wed. U.S. ADP jobs data due Key Central banks meet all week.|
6 March 2013 00:00 gmt
CALENDAR- .Far East: AU- GDP. Europe: EZ- GDP. North America: CA- Ivey PMI, Bank of Canada Decision. US- Weekly Mortgages, ADP, Factory Orders, Weekly Crude, Beige Book. North America: US- SVC PMI, API
- HIGH IMPACT ITEMS: AU- GDP, EZ- GDP, CA- PMI, BOC. US- ADP, Factory Orders, Beige Book US
- The next Canada Policy decision is due Wednesday at15:00 GMT. The Overnight rate target is broadly seen likely to be held steady (1.00%), but a dovish policy bias. A dovish policy statement could be a weight on the CAD.
- Eurozone final Services PMI were revised higher from their flash estimates. The U.K. February Services PMI The U.S. Services PMI was a stronger than expected 56.0 vs. 55.2. More importantly the Employment sub-component of the Services PMI remained at a strong 57.2. At times there can be a close correlation between this figure and non-farm payrolls (due Friday).
- The Bank of England and the European Central Bank make policy announcements Thursday . Minimal risk of more ease from both.
- The next key U.S. budget date is March 27 when the government's current funding authority runs out.
- The Reserve Bank of Australia kept rates steady as expected but maintained its easing bias. Retail sales figures were stronger than forecast and came in at a 7-month high.
USDJPY 20-day average is 93.17. EURJPY 20-day average is 123.51. 10-yr JGB: 0.63%, +1bp. Key Far East bourses: HIGHER.
EURUSD 20-day average:1.2355.10-yr bund is 1.45%, +3bp. European bourses: HIGHER.
U.S. 10-yr 1.89%, +2bp. 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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John M. Bland, MBA
- 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
- POTENTIAL PRICE RISK: HIGH Tue -- 23:30 GMT US- Yellen Speech. Early evening. Looking for anything on policy
- POTENTIAL PRICE RISK: Medium Wed -- 13:30 GMT US- Weekly Jobless, Durable Goods
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