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Wednesday November 20, 2013 - 19:22:15 GMT
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Bernanke dovish. BOE supporting growth. Fed mixed message.
|Bernanke dovish. BOE supporting growth. Fed mixed message.|
21 November 2013 00:00 gmt
| CALENDAR: CN- HSBC flash PMI, BOJ. EZ/DE/FR flash PMIs, Draghi, Consumer Confidence, GB- CBI Output: US- PPI, Weekly Jobless, flash Markit PMI, Yellen Committee Vote, Philly Fed. Natural Gas|
| EURUSD 1.3430
|| U.S. 2.77% +6bp
|| North America: Higher|
| EURJPY 134.50
|| Bund 1.74% +2bp
|| DE: DAX: Lower|
| GBPUSD 1.6110
|| GILT 2.74% +1bp
|| GB: FTSE: Lower|
| USDJPY 100.16
|| JGB 0.62% 0bp
|| Asia Close Mixed|
HIGH IMPACT ITEMS: CN- HSBC flash PMI, BOJ. EZ/DE/FR flash PMIs, Draghi, Consumer Confidence, US- PPI, Weekly Jobless, flash Markit PMI, Yellen Committee Vote, Philly Fed
- Comments by Fed Chairman Bernanke late Tuesday were in line with the Yellen testimony last week. A tapering of asset purchases will be data-dependent and require a solid improvement in jobs. Fed Minutes report chatter about lowering unemployment trigger level to raise rates. There were discussions about tapering, but no conclusions were reached.
- We are now in the Yellen era at the Fed. Senate Panel to vote on Yellen nomination Thursday. If approved, her nomination would move on to the full Senate.
- Bank of England policy board minutes maintained a dovish tone and supportive of growth. The BOE warned that rates might not rise when jobless rate target has been reached. The GBPUSD has fallen. See the FOREX FORUM for latest key data and charts as they are released.
- A BOJ decision is due Thursday. Sentiment around Japan and the yen remains shaky. The pivotal USDJPY level is the psychological 100 line. Some say "Abenomics" are a failure. Often key in the JPY are the times when BOJ and Fed policies are on opposite tracks.
- A major focus this week is the key German IFO sentiment Survey Friday. Also the Eurozone and European flash PMI surveys will be released. U.S. and Canadian retail sales data are due 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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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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