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Monday November 11, 2013 - 19:12:22 GMT
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Subdued Holiday Trade. Back- end weighted data week
|Subdued Holiday Trade. Back- end weighted data week|
12 November 2013 10:00 gmt
| CALENDAR: Far East: No Major Data Europe: GB- CPI/RPI/PPI North America: US- 3-yr Auction, API Energy|
| EURUSD 1.3410
|| U.S. 2.75% 0 bp
|| North America: Higher|
| EURJPY 133.04
|| Bund 1.75% -1bp
|| DE: DAX: Higher|
| GBPUSD 1.5986
|| GILT 2.79% +2bp
|| GB: FTSE: Higher|
| USDJPY 99.22
|| JGB 0.60% +1bp
|| Asia Close Higher|
HIGH IMPACT ITEMS: GB- CPI/RPI
- Trade got off to a sluggish start this week with Holidays Monday is several centers due to the Veterans Day (formerly Armistice Day) observances. Markets were also still digesting the October U.S. employment report (including revisions), which was much stronger than expected. There is no doubt that in the markets that the data put a Fed tapering on the table for consideration at the December FOMC.
- The European Central Bank (ECB) also blindsided the markets last Thursday with an unexpected 25bp cut in its refi rate to 0.25%. The Eurozone has seen rising unemployment and falling (0,70% y/y) flash October HICP inflation. It was the developing deflation in the Eurozone that forced the hand of the ECB to make the token cut in the Refi rate. Its greatest significance was symbolic as it sent a clear message to the markets that the Eurozone economy is in trouble.
- Tuesday starts a period of a number of key U.K. data releases. Otherwise, a the usual weekly U.S. data are due. Key Eurozone inflation data are also slated. Keep in mind, recent very weak inflation data may have been behind the unexpected ECB rate cut last week.
- 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:
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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