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Wednesday December 4, 2013 - 09:45:29 GMT
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Mixed Service PMI reports. Focus ADP and U.S. PMI data.
|Mixed Service PMI reports. Focus ADP and U.S. PMI data.|
4 December 2013 10:00 gmt
| CALENDAR:: US- Weekly Mortgages, ADP Jobs, Trade, SVC PMIs, Weekly Crude, Beige Book. CA- Trade, BOC Decision.|
| EURUSD 1.3586
|| U.S. 2.79% +2bp
|| North America: Higher|
| EURJPY 139.43
|| Bund 1.75% +2bp
|| DE: DAX: Higher|
| GBPUSD 1.6350
|| GILT 2.84% +2bp
|| GB: FTSE: Higher|
| USDJPY 102.65
|| JGB 0.63% 0bp
|| Asia Close Mixed|
HIGH IMPACT ITEMS: 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. The major focus today is what the volatile ADP private jobs date and the employment sub-component of the Service PMI suggest about the Friday Employment report. The yield on the 10-yr note is pivoting the psychological 2.80% line, prices fall when equities rise.
- 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..
- Revisions to the Service PMIs within the Eurozone continue to display divergent growth patterns.The U.K. November Services PMI came off its October peak. Its hard to hold a PMI above the 60 line. The GBPUSD fell on the news.See the FOREX FORUM for latest key data and charts as they are released.
- 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.
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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
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Fri 24 Nov
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US- Early Closes
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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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