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Service PMI data Monday. Australia and Canada Holidays
|Service PMI data Monday. Australia and Canada Holidays|
5 August 2013 00:00 gmt
CALENDAR: AU/CA- Holiday, AU- Retail Sales. Europe: EZ/GE/FR/GB- Service PMI. EZ- Retail Sales North America: US- Service PMI
- HIGH IMPACT ITEMS: AU/CA- Holiday, EZ/GE/FR/GB- Service PMI. EZ- Retail Sales, US- Service PMI
- Monday will get off to an unusually active start with a slew of Final Service PMI releases featured. The rest of the week is not as active but features several major items, such as Australian and Canadian employment data, a Reserve Bank of Australia Rate decision and a number of other items.We have found that for some reason major economic data tends to run on an every other week schedule.
- As for the device PMI data, It seems that the PMI data has been running a little ahead of economic statistics, so we have started to take these reports with a grain of salt.
- Hard data have been mixed recently with key German Retail Sales data lackluster, but U.K. data suggest that economy is a lot further down the road towards a strong economic expansion.
- Recent U.S. data still suggest that a tapering of the Fed Asset Purchase program is could come as early as September U.S. July employment data were disappointing, as they raised some doubt about the strength of the economic recovery.
- Under these circumstances, we typically could see the USD remain in choppy trade for the balance of the summer and then gain against most major currencies in the fall, but we would need a sustained improvement in the data first.
- For additional key items and more detail (dates, times, data estimates), be sure to reference our Economic Calendar and see the FOREX FORUM for key data and charts.
||JGB 0.81% 0bp
||Asia Close Higher|
||Bund 1.69% +3bp
||U.S. 2.73% -13bp
||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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15:00 CA- Bank of Canada Decision
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