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Thursday January 9, 2014 - 09:59:18 GMT
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ECB and BOE the major focus today. U.S. Weekly Jobless due
|ECB and BOE the major focus today. U.S. Weekly Jobless due|
9 January 2014 10:00 gmt
CALENDAR North America: US- Weekly Jobless, Philly Fed, Natural Gas, 30-yr Auction
| EURUSD 1.3607
|| U.S. 2.99% -1bp
|| North America: Higher|
| EURJPY 142.89
|| Bund 1.91% +2bp
|| DAX: Higher|
| GBPUSD 1.6459
|| GILT 2.99% +1bp
|| FTSE: Higher|
| USDJPY 105.01
|| JGB 0.70% -1.bp
|| Far East Close: Lower|
HIGH IMPACT ITEMS: BOE, ECB, US- Weekly Jobs, Philly Fed,, 30-yr
- The immediate focus today will be on the BOE and ECB policy decisions today. Dealers wonder if the BOE will lower its unemployment threshold and if the ECB will take actions to combat deflation.
- 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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