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Tuesday April 9, 2013 - 10:08:21 GMT
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JPY rebounds after Monday weakness. China and Swiss CPI eases. Light data week.
|JPY rebounds after Monday weakness. China and Swiss CPI eases. Light data week.|
9 April 2013 10:00 gmt
CALENDAR- North America: US- Wholesale Inventories, 3-yr Auction, API Energy.
- HIGH IMPACT ITEMS: No Major Data
- The JPY has been a big mover again on Tuesday as the currency corrected its sharp weakening seen Monday. The key questions are how far the currency will weaken and on what time schedule that will transpire..Many are expecting a thriugh the USDJPY 100 level in the very near future.
- Chinese CPI data overnight were better than expected. This could open the door to additional government stimulus.
- Swiss CI (y/y) fell by -0.6%. Deflation persists. It would be reasonable to assume the SNB will continue to pursue a weak Swiss franc policy against the EUR.
- The market now is calling into question a perception that the Fed may start to be tapering off its quantitative ease in the very near future. The latest Fed policy meeting Minutes will be released on Wednesday. They should provide some useful insight into what the central bank was thinking at that time. We wonder if they will have tempered their views after lat Friday's data.
- This is a relatively light week.on the data front. Key U.S. data will be retail sales statistics on Friday.
||JGB 0.53% +1bp
||Bund 127% +3bp
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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
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