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Friday November 1, 2013 - 09:12:36 GMT
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Chinese PMIs improve. EURUSD lower

Chinese PMIs improve. EURUSD lower
1 November 2013 10:00 gmt
  CALENDAR: GB- PMI  North America: US- PMIs

Spot
20d avg
10-yr
Equities
 EURUSD  1.3535
 1.3649
 U.S. 2.56% +1bp
  North America:Higher
 EURJPY 132.93
 133.60
 Bund 1.67% -3bp
 DE: DAX: Lower
 GBPUSD 1.6003
 1.6078
 GILT 2.61% -2bp
 GB: FTSE: Lower
 USDJPY 98.23   97.88
  JGB 0.60% +1bp  Asia Close Mixed

HIGH IMPACT ITEMS: EZ- Holiday, GB- PMI, US- PMIs
  • The tone of the USD has decisively improved after the EURUSD traded below its 20-day moving average (1.3649)  yesterday. Prices in prime fixed income markets are mostly higher. Weaker U.S. prices are notable on a revised Fed outlook.  Share markets are mixed to weaker. Peripheral bond prices are stronger, this all follows the more hawkish than expected Fed policy statement Wednesday. The big surprise Thursday were much stronger than expected Chicago and Milwaukee regional PMIs.
  • Some are now revising higher their forecasts for national U.S. PMIs today.  Market observers still do not expect a Fed tapering before the March 2014 Fed meeting.

  • The EURUSD is lower also following German September retail sales data which were weaker than expected. They came on the heels of mildly weaker than expected employment data and a softer than expected IFO survey. A slowing German economy would be a EURUSD negative.
  • Chinese October PMI data remained on an improving path and gave the AUD a lift  See the  FOREX FORUM  for latest key data and charts as they are released.  

  • Friday is a  holiday in the Eurozone. U.K. and U.S. October PMI reports are scheduled for release..
  • 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. BlandJohn 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.
    Copyright 2013, GlobalViewpoint, Inc All rights reserved

     

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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
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    Thu 23 Nov
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    Fri 24 Nov
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    09:00 DE- IFO Survey
    US- Early Closes

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    • 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


    John M. Bland, MBA
    co-founding Partner, Global-View.com

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