German IFO Survey Monday. Active data week into quarter-end

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German IFO Survey Monday. Active data week into quarter-end

German IFO Survey Monday. Active data week into quarter-end
24 June 2013 00:00 gmt

CALENDAR Far East: No Major Data. Europe: DE- IFO Survey. North America: No Major Data

HIGH IMPACT ITEMS: DE- IFO Survey

Last week was a watershed week after the Fed Chairman was exceptionally clear in laying out the separate paths for a wind down of its Asset Purchase program and the path for higher official interest rates.

Chairman Bernanke solidified the path to a tapering of asset purchases indicating that he expected a reduction in asset purchases to start in the second half of this year and for the program to have ended by mid-2014. He gave the markets a benchmark unemployment rate to watch for, which is 7.0%, but warned that the tapering will be subject to economic conditions. The Fed would like to exit the emergency Asset Purchase Program as early as possible due to the market distortions it creates.

As for interest rates, Bernanke seemed to soften his earlier guidance, saying that the old 6.50% target for the start of hiking interest rates is not a "target" any more. It is now the "threshold" for starting to consider a tightening.

Fixed income and equity markets have reacted immediately and violently to the prospect of a future loss of Fed support for financial asset prices. The 10-yr note yield rose from 2.20% pre-Bernanke to the mid-2.50% levels by the Friday close.early Thursday as the bond markets immediately and preemptively tightened for the Fed.

Monday sees the closely-followed German IFO Survey, This number is seen as a key indicator of the Eurozone economy

20d avg
10-yr
Equities

EURUSD 1.3175
JGB 0.87% +2bp
Asia Close Lower

USDJPY 98.00
Bund 1.73% +7bp
Europe: Lower

EURJPY 129.09
U.S. 2.51% +15bp
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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GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 23 Apr 2018
A All Day- Flash PMIs
AA 14:00 US- Existing Homes Sales
Tue 24 Apr 2018
AA 01:30 AU- CPI
A 08:00 DE- IFO Survey
A 14:00 US- CB Confidence
A 14:00 US- New Homes Sales
Wed 25 Apr 2018
AA 14:30 US- EIA Crude
Thu 26 Apr 2018
AA 11:45 EZ- ECB Decision
A 12:30 US- Durable Goods
A 12:30 US- Weekly Jobless
Fri 27 Apr 2018
AA 03:00 JP- Bank of Japan
A 08:00 DE- Employment
A 08:30 GB- GDP
A 14:00 US- University of Michigan

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co-founding Partner, Global-View.com

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