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Spotlight on the UK again this week. Several key items due.
|Spotlight on the UK again this week. Several key items due.|
12 August 2013 00:00 gmt
CALENDAR: Far East: No major data. Europe: CH- Retail Sales, EZ- Industrial Production. North America: no major data
- HIGH IMPACT ITEMS: No major data
- A major event last week was the first Bank of England quarterly Inflation Report by new BOE Governor Carney. Governor Carney took a page out of the playbooks of Fed Governor Bernanke and ECB President Draghi. All three have an agenda to provide forward monetary policy guidance to the markets, and Governor Carney provided the markets with the road map of the BOE. This week sees a number of key pieces of data from the U.K., especially the latest employment report.
- Even though it is not its mandate, subject to several caveats, Carney said the central bank will wait until the U.K. unemployment rate falls to 7.0% (now 7.8%) before CONSIDERING raising interest rates.
- All three major central banks appear to be doing all they can to nurture the economic recoveries in their respective monetary areas. From a traders perspective, expect forex prices to be very data sensitive
- .Economic data is a key influence on short term interest rates, and capital flows that drive forex markets. A key driver of short-term interest rates is interest rate differentials.
- This week sees key U.K. data, inflation, Jobs, Retail Sales and the most recent BOE Meeting Minutes. The German ZEW survey is slated as well. The U.S. will see Retail Sales data, CPI reports and Housing Starts and Permits.
- 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 as they are released.
||JGB 0.75% 0bp
||Asia Close Mixed|
||Bund 1.68% -1bp
||U.S. 2.58% -4bp
||North America: Lower|
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 12 Dec
09:30 GB- CPI
10:00 GB- ZEW Survey
13:30 US- PPI
Wed 13 Dec
00:30 AU- Employment
09:30 GB- Unemployment
13:30 US- CPI
15:30 US- EIA Crude
19:00 US- Fed Decision
Thu 14 Dec
07:30 CH- SNB Decision
All Day- Global- flash PMIs
12:00 GB- Bank of England Decision
12:45 EZ- ECB Decision
13:30 US- Retail Sales
13:30 US- Weekly Jobless
14:45 US- Industrial Production
Potential Trading Opportunities
John M. Bland, MBA
- POTENTIAL PRICE RISK: Mediun Tue--10:00 GMT-- DE- ZEW. Second Tier Sentiment Survey
- POTENTIAL PRICE RISK: HIGH-Medium Tue--13:30 GMT-- US- PPI
- POTENTIAL PRICE RISK: HIGH-Medium Wed--09:30 GMT-- GB- Employment
- POTENTIAL PRICE RISK: HIGH Wed--13:30 GMT-- US- CPI
- POTENTIAL PRICE RISK: Medium Wed--15:30 GMT-- US- EIA Crude
- POTENTIAL PRICE RISK: High Wed--19:00 GMT-- US- Fed Decision
- POTENTIAL PRICE RISK: HIGH- Thu --00:30 GMT-- AU- Employment
- POTENTIAL PRICE RISK: Medium- Thu --All day-- global- flash PMIs
- POTENTIAL PRICE RISK: HIGH-Medium- Thu --07:30-- CH- Swiss National Bank Decision
- POTENTIAL PRICE RISK: HIGH-Medium- Thu --09:30-- GB- Retail Sales
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