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RBA talks down AUD. Equities worry about risk of better US data
|RBA talks down AUD. Equities worry about risk of better US data|
4 December 2013 00:00 gmt
| CALENDAR:. Far East: AU- GDP, Trade. Europe: EZ/DE/FR/UK- Service PMI, EZ- Retail Sales, GDP: US- Weekly Mortgages, ADP Jobs, Trade, SVC PMIs, Weekly Crude, Beige Book. CA- Trade, BOC Decision.|
| EURUSD 1.3564
|| U.S. 2.80% 0bp
|| North America:Lower|
| EURJPY 139.66
|| Bund 1.75% +1bp
|| DE: DAX: Lower|
| GBPUSD 1.6404
|| GILT 2.85% +1bp
|| GB: FTSE: Lower|
| USDJPY 102.96
|| JGB 0.64% +2bp
|| Asia Close Mixed|
HIGH IMPACT ITEMS: AU- GDP, Trade, EZ/DE/FR/UK- Service PMI, EZ- Retail Sales, GDP, US- ADP Jobs, Trade, SVC PMIs, Beige Book. CA- Trade, BOC Decision
- Markets worry that better U.S. data could bring on an early Fed tapering. Wednesday sees a slew of Service PMI data. The yield on the 10-yr note is pivoting the psychological 2.80% line, prices gain when equities fall.. ADP private employment data Wednesday could be a market-mover.
- 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 up, but short term rates do not move for many months..
- As expected. the Reserve Bank of Australia kept policy steady, as expected. The central bank continued to indicate that the AUD remains "uncomfortably high" and that a lower exchange rate will be needed over time..
- The week ahead sees an exceptionally active data calendar. PMI releases will continue all week. Central Bank policy decisions are due from the Bank of Canada (Wed), Bank of England (Thu) and European Central Bank (Thu). 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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