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Tuesday May 7, 2013 - 09:28:47 GMT
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Australia cuts rates. Quiet U.S. calendar this week
|Australia cuts rates. Quiet U.S. calendar this week|
7 May 2013 10:00 gmt
CALENDAR- North America: US- 2-yr auction, API.
- HIGH IMPACT ITEMS: AU- RBA Decision, DE- Factory Orders
- The Reserve Bank of Australia cut its cash rate target by 25bps earlier today to a record low of 2.75%. Markets had been split on whether they would ease or not. some view it as an "insurance" move. Additional future cuts are possible. AUDUSD is lower on the move.
- ECB President Draghi said Monday the ECB Monday is prepared to act again if data say more help is needed.Odds are the ECB would not be unhappy with a weaker EUR.
- Austerity dead in Europe? It suddenly has become clear in key Eurozone countries that austerity is painful and often counter-productive.
||JGB 0.59% +2bp
||Bund 1.24% 0bp
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
- POTENTIAL PRICE RISK: Medium Wed -- 15:00 GMT US- final University of Michigan Survey
- POTENTIAL PRICE RISK: Medium Wed -- 15:30 GMT US- EIA Crude
- POTENTIAL PRICE RISK: HIGH Wed -- 19:00 GMT US- FOMC Policy Minutes. Key policy release
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