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China CPI due. Focus on U.S. markets after jobs data
|China CPI due. Focus on U.S. markets after jobs data|
8 July 2013 00:00 gmt
CALENDAR Far East: CN- CPI. Europe: DE- Trade, Industrial Output. North America: No Major Data.
- HIGH IMPACT ITEMS: CN- CPI, DE- Trade, Industrial Output
- U.S. June employment data Friday were a much stronger than expected gain of +195K. The data should keep the pressure on the Fed to taper QE in the very near future.
- Last week saw the Bank of England (BOE) and the European Central Bank (ECB) both made unexpected announcements in what appeared to be concerted action. Bank of England rate decision was for no rate change as widely expected. The surprise came when new Gov. Carney released a policy statement which expressed concern about the impact of recent rate increases on the economy.
- The European Central Bank kept policy steady as well,surprised traders by taking the unprecedented step of giving forward rate guidance for the first time.The ECB expects key interest rates to remain at present or lower levels for an extended period of time.
- We say the announcements came in response to globally higher yields after Fed Gov Bernanke laid the groundwork for an exit from Fed Quantitative Ease (QE) later this year.
- This week is a relatively quiet one for data. Forex markets are starting to open up for the first some since 2008.
||JGB 0.85% 0bp
||Asia Close Higher|
||Bund 1.73% +6bp
||U.S. 2.72% +22bp
||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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John M. Bland, MBA
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