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Thursday March 7, 2013 - 10:16:36 GMT
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As expected Bank of Japan on hold. Bank of England and European Central Bank decisions due. U.S. and Canadian Trade figures due
|As expected Bank of Japan on hold. Bank of England and European Central Bank decisions due. U.S. and Canadian Trade figures due|
7 March 2013 11:00 gmt
CALENDAR- GB- BOE, EZ- ECB.North America: US- Challenger Layoffs, Productivity, Trade (US+CA), Weekly Jobs, Natural Gas.
- HIGH IMPACT ITEMS: GB- BOE, EZ- ECB, US- Productivity, Trade (US+CA), Weekly Jobs
- The final Bank of Japan policy meeting with outgoing Governor Shirakawa ended with no policy changes as expected. The next Governor (Kuroda) is expected to be approved next week. Odds favored Shirakawa making no major policy decisions at his final meeting.
- The Bank of England and the European Central Bank make policy announcements today.
- No rate moves are expected from either central bank. Some are expecting the Bank of England to expand its Quantitative Easing Program by GBP 25 bln. The highlight of the ECB will be the Draghi press conference starting at 13:30 GMT.
- The ADP private employment report on Wednesday saw jobs rise by just shy of 200K in the February. The ADP report recently has been more optimistic than government figures. February non-farm payroll figures are due on Friday.
- The next key U.S. budget date is March 27 when the government's current funding authority runs out.
USDJPY 20-day average is 93.20. EURJPY 20-day average is 123.30. 10-yr JGB: 0.68%, +3bp. Key Far East bourses: MIXED.
EURUSD 20-day average:1.3229.10-yr bund is 1.46%, +1bp. European bourses: MIXED.
U.S. 10-yr 1.93%, -1bp. U.S. shares: HIGHER.
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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