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Monday July 22, 2013 - 20:27:03 GMT
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U.S. Existing Homes Sales fall. JPY Volatile post-Abe victory
|U.S. Existing Homes Sales fall. JPY Volatile post-Abe victory|
23 July 2013 00:00 gmt
CALENDAR: AU- CPI. Europe: EZ- Consumer Confidence, North America: CA- Retail Sales. US- Richmond Fed, 2-yr Auction. API Survey
- HIGH IMPACT ITEMS: AU- CPI, EZ- Consumer Confidence, CA- Retail Sales
- Trade got off to a sluggish start for the new week, slowed no doubt, by the summer holidays.
- Over the weekend. PM Abe' s LDP won a decisive victory in Upper House elections. They resulted in giving Abe majority control of both houses. The victory broke a decade long dead-lock. This chould open the door to additional economic reforms.
- The JPY has traded a volatile range in the wake of the Abe Upper House victory over the weekend. His victory had been expected and some point out that the ruling LDP Party contains a range of factions.
- On Monday, the U.S. released June Existing Homes Sales, which were weaker than expected, but remained at elevated levels. July will see the first data after Fed Chairman Bernanke pushed long term interest rates higher after warning the markets about an end to QE.
- This week ahead features: the first look at July PMI data with a number of flash reports due. This will give the markets a 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 today.
- 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 0.78% -2bp
||Asia Close Higher|
||Bund 1.51% 0bp
||U.S. 2.48% -4bp
||North America: 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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Amazing Trader EVENT RISK Calendar:
Tue 21 Nov
15:00 US- Existing Homes Sales
23:00 US- Yellen Speech
Wed 22 Nov
13:30 US- Weekly Jobless
13:30 US- Durable Goods
15:00 US- final University of Michigan Survey
15:30 US- EIA Crude
19:00 US- FOMC Minutes
Thu 23 Nov
All Day flash PMIs
13:30 CA- Retail Sales
Fri 24 Nov
All Day flash PMIs
09:00 DE- IFO Survey
US- Early Closes
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John M. Bland, MBA
- POTENTIAL PRICE RISK: HIGH Mon -- 14:00 GMT EZ- Draghi speaks in Brussels. Looking for any policy hints or bias
- POTENTIAL PRICE RISK: HIGH Tue -- 13:30 GMT US- Existing Homes Sales. Top Housing Statistic
- POTENTIAL PRICE RISK: HIGH Tue -- 23:30 GMT US- Yellen Speech. Early evening. Looking for anything on policy
- POTENTIAL PRICE RISK: Medium Wed -- 13:30 GMT US- Weekly Jobless, Durable Goods
- POTENTIAL PRICE RISK: Medium Wed -- 15:00 GMT US- final University of Michigan Survey
- POTENTIAL PRICE RISK: Medium Wed -- 15:30 GMT US- EIA Crude
- POTENTIAL PRICE RISK: HIGH Wed -- 19:00 GMT US- FOMC Policy Minutes. Key policy release
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