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Monday August 26, 2013 - 20:45:04 GMT
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U.S. Durable Goods weak. Tues sees German IFO data
|U.S. Durable Goods weak. Tues sees German IFO data|
27 August 2013 00:00 gmt
CALENDAR: Far East: No Major Data. Europe: DE- IFO Survey. North America: US- Case-Shiller, Richmond Fed, CB Consumer Confidence, 2-yr, API Energy
- HIGH IMPACT ITEMS: DE- IFO Survey, US- Case-Shiller, CB Consumer Confidence, 2-yr
- Comments by U.S. Secretary of State Kerry that were taken as a threat against Syria in mid-afternoon trade weighed on equities and gave the EURUSD a boost in a quiet market.
- The U.S. Treasury announced that it expects the U.S. to hit its debt ceiling by mid-October. this could set up a major budget battle with Congress at that time.
- U.S. Durable Goods orders were substantially weaker than expected on the U.S. open. The data include a lot of very big ticket items, as a result, the data tend to be very volatile.
- We a looking ahead to Pending Home Sales on Wednesday after the shockingly weak New Homes Sales last Friday.
- The Fed strategy is to keep short-term rates low and hope the phase out its support of the long end of the maturity spectrum (QE Asset purchases) has no adverse consequences. Keep an eye on long-term (10 and 30 yr bond yields) to see what the bond vigilantes are telling us.
- Key German IFO data are due on Tuesday. U.S, Consumer Confidence data are set for that day as well. Month end also sees the usual slew of Japanese data.
- 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 0.77% 0bp
||Asia Close Mixed|
||Bund 1.93% -1bp
||U.S. 2.81% -1bp
||North America: Lower|
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