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U.S. ADP private jobs better than expected. ECB & BOE Thu
|U.S. ADP private jobs better than expected. ECB & BOE Thu|
9 January 2014 00:00 gmt
CALENDAR:Far East: CN- CPI. Europe: GB- Trade, BOE, EZ- Consumer Confidence, ECB. North America: US- Weekly Jobless, Philly Fed, Natural Gas, 30-yr Auction
| EURUSD 1.3568
|| U.S. 3.01% +7bp
|| North America: Higher|
| EURJPY 142.27
|| Bund 1.89% -2bp
|| DAX: Lower|
| GBPUSD 1.6444
|| GILT 2.98% +1bp
|| FTSE: Higher|
| USDJPY 104.87
|| JGB 0.71% -2.bp
|| Far East Close: Mixed|
HIGH IMPACT ITEMS: CN- CPI. GB- Trade, BOE, EZ- Consumer Confidence, ECB, US- Weekly Jobs, Philly Fed, Natural Gas, 30-yr
- The December ADP private jobs improved to +238K however, you never know about the reliability of the ADP numbers. Nevertheless they clearly are pointing to a better NFP reading on Friday. Major forecasters broadly have been increasing their estimates for this release. See the FOREX FORUM for latest key data and charts as they are released.
- The minutes from the December Fed policy meeting contained no major surprises. Most members supported a QE reduction, as most were more confident on jobs outlook. There was also a discussion about lowering its unemployment target.
- With Janet Yellen approved, to be the next head of the central bank as of February 1, better NFP data on Friday would reinforce the Bernanke asset purchases tapering decision made in December. See the FOREX FORUM for latest key data and charts as they are released.
- This week features central bank decisions by the Bank of England and the ECB. No policy changes had been expected before sub-1.00% EZ flash CPI data. The mandate of the ECB is to target inflation on the up and downside.
- Monthly U,S.jobs data are set for Friday..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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14:00 EZ- Draghi Speech
15:00 US- Leading Indicators
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
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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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