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Monday October 21, 2013 - 09:34:00 GMT
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Active data week in store
|Active data week in store|
21 October 2013 10:00 gmt
| CALENDAR:North America: US- Existing Homes Sales, Weekly Crude (delayed data)|
||U.S. 2.59% 0bp
||North America: Higher|
||Bund 1.84% +1bp
||JGB 0.63% +1 bp
||Asia Close Higher|
HIGH IMPACT ITEMS: US- Existing Homes Sales
- Parties to the U.S. budget/debt limit minute agreement deiced to extend the budget deadline to January 15 and the debt limit "soft" deadline to February 7. With no major agreements reached as part of the accord, so one asks if we will have to go through this nonsense again in less than three months time. This stunt by the "Tea Party" members of the Republican Party has been a fiasco and to try is again would only further undermine their political support.
- The government shutdown has been another fiscal drag on a soft economy. Furthermore, key data needed for Fed policy decisions have been delayed. Even the more hawkish Fed members say it will be difficult to make any major policy decisions at the upcoming October 30 FOMC. So Fed "tapering" is on hold for a while longer.
- In response to this new expectation, 10yr bond yields tumbled to as low as 2.55% on Friday from 2.84% before the budget/debt limit decision. Tumbling U.S. bond yields have undermined confidence in the USD.
- Government agencies closed by the shutdown will now be releasing stonewashed data due during the shutdown period along with new data.
- Tuesday will see the release of the delayed September Employment data. Other major data highlights of the week include U.S. Existing Homes sales Monday, Australian CPI, BOE Minutes and a Bank of Canada decision Wednesday, assorted Flash PMI reports and U.S. weekly Jobless claims Thursday. Friday sees German IFo data, UK preliminary GDP, and final University of Michigan data.
- 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.
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:
Mon 20 Nov
14:00 EZ- Draghi Speech
15:00 US- Leading Indicators
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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