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Thursday November 7, 2013 - 19:08:50 GMT
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ECB surprise rate cut. BOE unch. U.S. employment due
|ECB surprise rate cut. BOE unch. U.S. employment due|
8 November 2013 00:00 gmt
| CALENDAR: Far East: CN- Trade Europe: DE- Trade, GB- Trade North America: CA- Employment, US- Productivity, Personal income, PCE Deflator, Employment, University of Mich Survey, COT|
| EURUSD 1.3517
|| U.S. 2.61% -3bp
|| North America: Lower|
| EURJPY 133.40
|| Bund 1.69% -6bp
|| DE: DAX: Higher|
| GBPUSD 1.6073
|| GILT 2.68% -4bp
|| GB: FTSE: Lower|
| USDJPY 98.69
|| JGB 0.60% -2bp
|| Asia Close Lower|
HIGH IMPACT ITEMS: CN- Trade, DE- Trade, GB- Trade,CA- Employment, US- Productivity, Trade, Personal income, PCE Deflator, Employment, University of Michigan Survey
- The European Central Bank surprised the markets Thursday with a cut in interest rates in response to a sluggish economy and declining inflation levels. The rate reduction was completely unexpected by the markets and saw the EURUSD immediately tumble vs. the USD. The Bank of England kept policy steady as expected.
- Australian October employment data were virtually flat, but they masked underlying weakness in the economy. The AUDUSD is weaker. See the FOREX FORUM for latest key data and charts as they are released.
- Headline advance 3Q13 U.S. GDP data were stronger than expected, although analysts indicated that the underlying data were not as strong as hoped.
- The major event Friday will be the release of October U.S. Employment data. Canadian October Employment data are due for release on that session as well.
- 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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