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Friday September 13, 2013 - 09:38:45 GMT
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Nikkei: Obama naming Summers Fed Chair next week. Key data up
|Nikkei: Obama naming Summers Fed Chair next week. Key data up|
13 September 2013 10:00 gmt
CALENDAR: North America: US- Retail Sales, PPI, University of Michigan Survey, Business Inventories, COT Report
- HIGH IMPACT ITEMS: JP- Industrial Output. US- Retail Sales, University of Michigan Survey
- The big story overnight has been a report in the Nikkei that Obama could name Summers a the next Fed Chairman as early as next week. Keep in mind the Fed Chairman needs approval by the Senate. There is little doubt that he would be approved. He would take office early in 2014. .
- Tokay sees key U.S. Retail Sales data and September preliminary University of Michigan Sentiment figures.
- We feel the Fed plans to announce a "taper" of its asset purchases next week. Most see a USD 10-15 bln cut. The September 18 FOMC includes a press conference so it is the ideal time to explain a policy change.
- For additional key items and more detail (dates, times, data estimates), be sure to reference our Economic Calendar . See the FOREX FORUM for latest key data and charts as they are released.
||JGB 0.73% 0bp
||Asia Close Lower|
||Bund 2.03% +9bp
||U.S. 2.93% +2bp
||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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