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Tuesday December 17, 2013 - 19:45:51 GMT
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Strong German ZEW data. IFO and Fed Wednesday
|Strong German ZEW data. IFO and Fed Wednesday |
18 December 2013 00:00 gmt
CALENDAR:JP- Trade. DE- IFO GB- Unemployment, BOE Minutes, CBI Distributive Trades.: US- Weekly Mortgages, Housing Starts/Permits, Weekly Crude, 5-yr Auction, Fed Rate Decision/Press Conference
| EURUSD 1.3770
|| U.S. 2.84% -4bp
|| North America: Mixed|
| EURJPY 141.29
|| Bund 1.82% -1bp
|| DAX: Lower|
| GBPUSD 1.6270
|| GILT 2.85% -3bp
|| FTSE: Lower|
| USDJPY 102.61
|| JGB 0.66% -3bp
|| Far East Close: Mixed|
HIGH IMPACT ITEMS: JP- Trade, DE- IFO, GB- Unemployment, BOE Minutes, US- Housing Starts, 5-yr Auction, Fed Rate Decision/Press Conference
- At long last, Wednesday will see some sort of 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 only provide forward guidance that tapering is on the way.
- Latest U.S. CPI data remained tame, but we were skeptical about the strength of the string NAHB Index. The German ZEW Survey was much stronger than forecast for December. EZ HICP ( CPI) was in line with flash estimates.
- U.K. CPI and RPI data 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.
- 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.
- This week sees a "data dump" before the year-end holiday period. The key German IFO Survey is released Wednesday. 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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