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Tuesday November 12, 2013 - 10:04:47 GMT
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U.K. price data softer than seen. Data week picks up later
|U.K. price data softer than seen. Data week picks up later|
12 November 2013 10:00 gmt
| CALENDAR: North America: US- 3-yr Auction, API Energy|
| EURUSD 1.3371
|| U.S. 2.78% +3 bp
|| North America: Lower|
| EURJPY 133.25
|| Bund 1.78% +3bp
|| DE: DAX: Lower|
| GBPUSD 1.5863
|| GILT 2.81% +2bp
|| GB: FTSE: Lower|
| USDJPY 99.66
|| JGB 0.60% 0bp
|| Asia Close Higher|
HIGH IMPACT ITEMS: No Major Data
- Trade got off to a sluggish start Monday with holidays in several centers due to the Veterans Day (formerly Armistice Day) observances. Markets are also still digesting the October U.S. employment report (including revisions), which was much stronger than expected. Traders now are trying to figure out how the Fed MIGHT react to mixed economic data 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. The debate on Europe now is whether ECB policy should target the German economy or the Eurozone as a whole. developing deflation in the Eurozone that forced the hand of the ECB to make its token cut in the Refi rate. The greatest significance of the cut was symbolic as it sent a clear message to the markets that the Eurozone economy is in trouble.
- Today has started a period of key U.K. data releases. Otherwise, a the usual weekly U.S. data are due this week. 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:
Thu 16 Nov
01:30 AU- Employment
09:30 GB- Retail Sales
10:00 EZ- final HICP
14:15 US- Industrial Production
Fri 17 Nov
13:30 CA- Retail Sales, CPI
13:30 US- Housing Starts and Permits
Potential Trading Opportunities
John M. Bland, MBA
- POTENTIAL PRICE RISK: HIGH to Medium Wed -- 20:30 GMT AU- Employment data.
- POTENTIAL PRICE RISK: HIGH Thu -- 09:30 GMT GB- Retail Sales.
- POTENTIAL PRICE RISK: Mediun Thu -- 10:00 GMT EZ- final HICP. ECB targets inflation.
- POTENTIAL PRICE RISK: Medium Thu -- NY Morning US- Import Prices, Philly Fed, Industrial, Production, NAHB. Usually not major movers.
- POTENTIAL PRICE RISK: HIGH to Medium Fri -- 13:30 GMT CA- Retail Sales and CPI.
- POTENTIAL PRICE RISK: HIGH to Medium Fri -- 13:30 GMT US- Housing Starts and Permits.
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