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Tuesday December 17, 2013 - 10:23:40 GMT
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Strong German ZEW data. IFO and Fed Wednesday
|Strong German ZEW data. IFO and Fed Wednesday |
17 December 2013 10:00 gmt
CALENDAR: US- Current Account, CPI, NAHB, 2-yr API.
| EURUSD 1.3765
|| U.S. 2.87% -1bp
|| North America: Lower|
| EURJPY 141.65
|| Bund 1.84% +1bp
|| DAX: Lower|
| GBPUSD 1.6305
|| GILT 2.90% +2bp
|| FTSE: Lower|
| USDJPY 102.90
|| JGB 0.67% -2bp
|| Far East Close: Mixed|
HIGH IMPACT ITEMS: US- Current Account, CPI, 2-yr
- The German ZEW Survey was much stronger than forecast for December. The EURUSD responded positively to the report. EZ HICP ( CPI) was in line with flash estimates. See the FOREX FORUM for latest key data and charts as they are released.
- U.K. CPI and RPI data today remained tame and should not be a concern for the BOE as they come into line with their targets. See the FOREX FORUM for latest key data and charts as they are released.
- Wednesday (December 18). sees the Fed taper decision. The central bank would like to exit from its $85 bln/mo asset purchase program. the Fed wants out, the only real question is timing. We feel it is most logical to assume that they will provide forward guidance that a tapering is coming.
- A Senate confirmation vote on Janet Yellen for Fed Chair is set for Friday, December 20. We hear Chairman Bernanke feels it is a bad idea for the central bank to have both a Chair and a Chairman-elect at the same time,. Some say he will step down once Yellen is confirmed. So it is possible that there could be a new Fed Chair before year-end. Everyone expects a continuity of current policies under the new regime.
- This week sees a "data dump" before the year-end holiday period. The key German ZEW and IFO Surveys, and inflation data from a number of economies and a slew of other releases. 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.
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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