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Wednesday May 22, 2013 - 21:00:48 GMT
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Bernanke punts. UK Retail Sales soft. BOJ unchanged
|Bernanke punts. UK Retail Sales soft. BOJ unchanged|
23 May 2013 00:00 gmt
CALENDAR Far East: JP- Trade.CN- HSBC flash PMI Europe: EZ- Draghi Speech, flash PMIs (including (DE and FR), Consumer Confidence. GB- GDP North America: US- Weekly Jobs, flash Markit PMI, New Homes Sales, Natural Gas
- HIGH IMPACT ITEMS: JP- Trade. CN- HSBC flash PMI. EZ- Draghi Speech, flash PMIs, Consumer Confidence. GB- GDP, US- Weekly Jobs, flash Markit PMI, New Homes Sales
- Testimony by Chairman Bernanke to Congress broke no new ground. The message was that. Fed policy is future data dependent and no tapering of Fed bond purchases has been decided yet. In other words, Bernanke punted. NY Fed President Dudley did send a signal Wednesday not to expect much. Nevertheless, in afternoon trade equity and bond prices sold off.
- A slew of flash PMI reports for May are due on Thursday.
- U.S. key Weekly Jobless claims and New Home Sales are awaited.
- Existing Homes sales data fell short of market expectations.
- U.K. retail sales data were weaker than expected. The GBPUSD is weaker.
- USDJPY gained after the BOJ kept policy steady as expected. the BOJ upgraded its view of the economy.
- The critical German IFO Survey is due on Friday.
||JGB 0.88% +1bp
||Asia:Mixed to Weaker|
||Bund 1.42% +5bp
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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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15:00 US- Existing Homes Sales
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15:30 US- EIA Crude
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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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