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Thursday June 20, 2013 - 09:10:56 GMT
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China HSBC flash PMI Report weak. Eurozone PMIs better, Active U.S. calendar
|China HSBC flash PMI Report weak. Eurozone PMIs better, Active U.S. calendar|
20 June 2013 10:00 gmt
CALENDAR Consumer Confidence. North America: CA- Retail Sales. US- Weekly Jobless, Markit PMI, Philly Fed, LEI, Existing Homes Sales. Natural Gas.
- HIGH IMPACT ITEMS: CA- Retail Sales, US- Weekly Jobs, PMI, Philly Fed, Existing Homes Sales
- The Fed policy guidance continues to reverberate. Bernanke said that an unemployment rate of 7.00% is its target level for tapering off its asset purchase program, and if Fed forecasts are correct that a "tapering" will start later this year and be completed by mid-2014. On the other hand, its 6.50% unemployment rate "target" for starting to raise interest rates has been softened to a "threshold" and to 6.50% or lower for starting to consider raising rates.
- June Chinese flash HSBC PMI data were surprisingly weak. Eurozone flash PMI data were mostly better than expected, but still in a contraction zone.
- In the U.K. the latest Retail Sales data were broadly stronger than expected.
- Thursday sees an active U.S, calendar.
||JGB 0.84% +3bp
||Asia Close Lower|
||Bund 1.67% 12bp
||U.S. 2.38% +7bp
||U.S. Lower |
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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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