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Fed announces a $10 bln taper decision. German IFO better. U.K. data improves
|Fed announces a $10 bln taper decision. German IFO better. U.K. data improves |
19 December 2013 00:00 gmt
CALENDAR: Far East: JP- Lead Indicators. Europe: GB- Retail Sales. North America: US- Weekly Jobless, Existing Homes Sales, Philly Fed, LEI, Natural Gas, 7-yr Auction
| EURUSD 1.3740
|| U.S. 2.88% +4bp
|| North America: Higher|
| EURJPY 142.45
|| Bund 1.83% +1bp
|| DAX: Higher|
| GBPUSD 1.6410
|| GILT 2.91% +6bp
|| FTSE: Higher|
| USDJPY 103.70
|| JGB 0.66% 0bp
|| Far East Close: Mixed|
HIGH IMPACT ITEMS: GB- Retail Sales, US- Weekly Jobless, Existing Homes Sales, Philly Fed, Natural Gas, 7-yr Auction
- The Fed finally made taper a decision today, announcing that it would reduce its monthly asset purchases as of January by $10bln to $75 bln. At the same time, the central bank reiterated that short term monetary policy would be kept accommodative for an extended time period. As expected markets were extremely volatile on the news.
- A Senate confirmation vote on Janet Yellen for Fed Chair is set for Friday, December 20. It is possible Chairman Bernanke may step down once Yellen is confirmed. There could be a new Fed Chair before year-end.
- The latest German IFO data were mixed to higher We see their trend as basically flat. See the FOREX FORUM for latest key data and charts as they are released. EURUSD turned lower after the data.
- U.K. unemployment data improved substantially. The most recent Bank of England policy minutes saw no changes in policy. The GBPUSD is up on the jobs report Retail Sales are due Thursday. See the FOREX FORUM for latest key data and charts as they are released.
- This week sees key events all week ahead of the end of year holidays. before the year-end holiday period. 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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AA: Major, A: High, B: Medium
Mon 15 Oct 2018
AA 12:30 US- Retail Sales
Tue 16 Oct 2018
AA 08:30 GB- Employment
A 09:00 DE- ZEW Survey
A 13:15 US- Industrial Production
Wed 17 Oct 2018
AA 08:30 GB- CPI
A 09:00 EZ- Final HICP
A 12:30 US- Housing Starts/Permits
A 14:00 US- Existing Homes Sales
A 14:30 US- EIA Crude
AA 18:00 US- Fed Policy Minutes
Thu 18 Oct 2018
A 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 12:30 US- Weekly Jobless
Fri 19 OCt 2018
AA 12:30 CA- CPI/ Retail Sales
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