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Tuesday April 30, 2013 - 21:35:12 GMT
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Waiting for the Fed Wednesday. May Day holiday could slow trade
|Waiting for the Fed Wednesday. May Day holiday could slow trade|
1 May 2013 00:00 gmt
CALENDAR- Far East: CN- Holiday, PMIs, JP- Unemployment. Europe: Many holidays, GB- Mfg PMI. North America: US- Weekly Mortgages, ADP Private Jobs, Markit PMI, ISM PMI, Construction Spending, Crude, FOMC
- HIGH IMPACT ITEMS: CN- PMIs, GB- Mfg PMI, ADP Jobs, FOMC
- Focus on the FOMC. Their decision should be cautious Wednesday deferring any trimming of Quantitative Ease (QE).
- The ECB decision Thursday is key. So far the Draghi has not tipped his hand.. Professional forecasters seem to expect a psychological -25bp cut in the 0.75% refi rate. This would have little impact on the economy but send a support message.Look out. there is a lot of room for a disappointment (no ECB action).
- Wednesday is the May Day holiday in many countries. Japanese Golden Week holidays continue off and on all week..
- The first week of the month sees the release of PMI data from a slew of countries.
||JGB 0.61% +2bp
||Bund 1.20% -2bp
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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