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Sunday July 21, 2013 - 16:29:56 GMT
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PM Abe's ruling coalition wins Upper House election as expected
|PM Abe's ruling coalition wins Upper House election as expected |
22 July 2013 00:00 gmt
CALENDAR: North America: US- Existing Homes Sales
- HIGH IMPACT ITEMS: US- Existing Homes Sales
- PM Abe' s LDP has won a decisive victory in Upper House elections, which has resulted in giving PM Abe majority control of both houses. This election victory breaks a decade long dead-lock by taking the Upper House. This victory should open the door to additional economic reforms. We feel the JPY should weaken on this
- Testimony by Fed Chairman Bernanke in the past week has done nothing to clear the air on when the Fed Asset Purchase program (QE) will come to an end. If anything, the Fed Chair managed to blur the ending date. We are as convinced as ever that the central bank wants to bring the purchase of additional government debt to an end as soon as possible, but they also are nervous about what the lack of Fed purchases will do to long term interest rates.
- Recent mixed data from the U.S. clearly has Bernanke worried. We still expect the Fed to start to taper its debt purchase program as early as September, but no later than December barring unforeseen events.
- The week ahead features: the first look at July PMI data with a number of flash reports due. This will give the markets a fresh look at the current state of the global economy.
- The critical IFO Survey is scheduled as well. A number of U.S. housing statistics are due starting Monday.
- For additional key items and more detail (dates, times, data estimates), be sure to reference our Economic Calendar and the Forex Forum as key items are released.
||JGB 0.80% 0bp
||Asia Close Mixed|
||Bund 1.51% -2bp
||U.S. 2.52% +3bp
||North America: Mixed|
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
Mon 26 Feb 2018
AA: Major, A: High, B: Medium
A 15:00 US- New Homes Sales
Tue 27 Feb 2018
A 08:55 DE- Jobless
B 13:30 US- Durable Goods
A 15:00 US- CB Consumer Confidence
A 15:00 US- Pending Homes Sales
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Fri 2 Mar 2018
AA 15:00 US- final Univ of Mich
John M. Bland, MBA
co-founding Partner, Global-View.com
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