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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|
| EURUSD 1.3535
|| U.S. 2.56% +1bp
|| North America:Higher|
| EURJPY 132.93
|| Bund 1.67% -3bp
|| DE: DAX: Lower|
| GBPUSD 1.6003
|| GILT 2.61% -2bp
|| GB: FTSE: Lower|
| USDJPY 98.23
|| 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. 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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