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Slow Calendar starts the week. All eyes on Fed
|Slow Calendar starts the week. All eyes on Fed|
19 August 2013 00:00 gmt
CALENDAR: Far East: JP- Trade.
- HIGH IMPACT ITEMS: JP- Trade
- The USD has become highly sensitive to how economic data is impacting the fixed income markets. An important aspect of activity is how U.S. economic activity is affecting the outlook for a Fed tapering of its asset purchase program.
- Its pretty clear that the FOMC has become uncomfortable with all the paper it has been adding to its balance sheet and would like to exit the program as early as possible for that reason alone. Chairman Bernanke has been going to great pains to reassure the markets that a tapering of asset purchases does not imply a policy tightening.
- Markets are seeing a tapering of asset purchases as a policy tightening, and when the odds of such a move increase in response to data, the USD rises.
- The GBP has been improving on a fairly stady flow of positive U.K. data which have been driving Gilt yields higher.
- The week ahead starts off pretty slowly, but the second half of the period sees a number of flash PMI reports which are often used as an early short-hand indication of how various economies are performing.
- Some significant U.S. housing data are due. Key Canadian data are slated at the end of the period.
- For additional key items and more detail (dates, times, data estimates), be sure to reference our Economic Calendar and see the FOREX FORUM for latest key data and charts as they are released.
||JGB 0.76% +1bp
||Asia Close Lower|
||Bund 1.89% 0bp
||U.S. 2.83% +4bp
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
Potential Trading Opportunities
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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