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Monday December 2, 2013 - 10:04:52 GMT
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Initial PMI data mostly better. US jobs Friday the highlight
|Initial PMI data mostly better. US jobs Friday the highlight|
2 December 2013 10:00 gmt
| CALENDAR:. North America: US- PMI's, Construction Spending, COT Report|
| EURUSD 1.3585
|| U.S. 2.79% +3bp
|| North America:Higher|
| EURJPY 139.19
|| Bund 1.73% +4bp
|| DE: DAX: Higher|
| GBPUSD 1.6364
|| GILT 2.84% +7bp
|| GB: FTSE: Lower|
| USDJPY 102.40
|| JGB 0.62% +1bp
|| Asia Close Mixed|
HIGH IMPACT ITEMS: US- PMI's
- Today is seeing the first wave of final November manufacturing PMI releases. In general, the data are in line with our observation that the global economy is in a modest expansion phase with data to a greater or lesser extent improving. See the FOREX FORUM for latest key data and charts as they are released. The U.S. data are due later.
- The Fed remains uncomfortable with its current asset purchase program. Most members of the board do not like its ballooning balance sheet and would like to "taper" its bond purchases as soon as possible. Markets are highly sensitive to any economic release that might move forward the date when they can start to cut back.
- The Fed has gone to great pains to distinguish between monetary policy and a tapering of asset purchases. So it is likely that at some time soon long term interest rates could start to move higher while short term rates do not move. We have already elaborated here at length why technical factors could postpone a tapering until March 2014. We feel Fed tapering would be a USD positive.
- The week ahead sees an exceptionally active data calendar. PMI releases will continue all week. Central Bank policy decisions are due from the Reserve Bank of Australia, Bank of England, Bank of England and European Central Bank. The end of the week then sees key employment data from the United States and Canada.
- See the FOREX FORUM for latest key data and charts as they are released.. 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.
|Copyright 2013, GlobalViewpoint, Inc All rights reserved|
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GVI Trading. Potential Price Risk Scale
Mon 19 Feb 2018
AA: Major, A: High, B: Medium
00:00 CN, US- Holiday
Tue 20 Feb 2018
00:00 CN- Holiday
A 10:00 US- ZEW Survey
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A All Day flash PMIs
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John M. Bland, MBA
co-founding Partner, Global-View.com
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