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Sunday June 9, 2013 - 11:32:59 GMT
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No major data Monday. Big Bank of Japan decision Tuesday
|No major data Monday. Big Bank of Japan decision Tuesday|
10 June 2013 00:00 gmt
CALENDAR Far East: No Major Data. Europe: CH- Unemployment, Retail Sales. North America: No Major Data
- HIGH IMPACT ITEMS: None
- We posted on GVI Forex early Friday before the data that you should never base a trade on something as unreliable as an ADP jobs estimate or a PMI number. Both are notoriously volatile.
- Traders should also be wary of pre-data hype in the financial press which tries to hype viewership by generating excitement around the data before it is released. The frenzy before the May data was for a weaker than expected report for the second month in a row. Of course, they were wrong about the April data a month ago. Then the May data surprised the amateur pundits again. Basic economic trends don't change fast. The time frame for changes in basic economic data is e more like months or quarters, not weeks.
- The major event this week may be the Bank of Japan meeting on Monday and Tuesday. The BOJ has a lot on its plate after the late-week volatility in the Nikkei, JPY and 10-yr JGBs.
- U.K. production and employment data Tuesday could impact the GBP.
- Early Thursday sees a Reserve Bank of New Zealand policy decision.
- Key Australian employment data are due.
- Friday sees EZ CPI data and several pieces of key U.s. data, including the University of Michigan Survey.
||JGB 0.85% +3bp
||Asia Close Lower|
||Bund 1.54% -1bp
||U.S. 2.16% +8bp
||U.S. 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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