Risk off worries abating? Solid U.K. GDP as expected

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Tuesday January 28, 2014 - 10:09:02 GMT
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Risk off worries abating? Solid U.K. GDP as expected

Risk off worries abating? Solid U.K. GDP as expected
28 January 2014 11:00 gmt

CALENDAR:US- Durable Goods, Case Shiller, CB Consumer Confidence, Richmond Fed, 2-yr Auction, API Energy.

Spot
20d avg
10-yr
Equities

EURUSD 1.3652
1.3618
U.S. 2.78% +4bp
North America: Higher

EURJPY 140.75
141.83
Bund 1.70% +3bp
DAX: Higher

GBPUSD 1.6584
1.6456
GILT 2.82% +3bp
FTSE: Higher

USDJPY 103.10
104.15
JGB 0.63% -1bp Far East Close: Lower

HIGH IMPACT ITEMS: US- Durable Goods, Case Shiller, CB Consumer Confidence

The U.K. saw solid advance 4Q13 GDP today which were up +2.80% y/y. The GBPUSD eased initially on the data because they were in line with street estimates. See the FOREX FORUM for latest key data and charts as they are released.

The "risk off" trade led by equities seen in recent sessions appears to be easing somewhat. All are keeping a close eyes on shares, especially in the States. The end of this week sees the start of the Lunar New Year observances.

Wednesday sees the final FOMC meeting before Ben Bernanke's term as Chairman runs out. We expect no surprises from the meeting. It has been made fairly clear that the central bank will announce another tapering of its asset purchases.

The central bank will continue to hit home the theme that a tapering does not mean policy is not being tightened. The Fed will continue its ultra-easy short-term interest rate policy well into the future. Janet Yellen will replace Bernanke when he steps down and provide policy continuity.

This week sees GDP data from the U.S.. A major highlight will be the Fed decision on Wednesday. U.S. sentiment surveys are always closely watched. Be sure to refer daily to the Global-View Economic Calendar and the Forex Forum for key items (actual data, selected charts, etc.) as they are released. 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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Mon 23 Apr 2018
A All Day- Flash PMIs
AA 14:00 US- Existing Homes Sales
Tue 24 Apr 2018
AA 01:30 AU- CPI
A 08:00 DE- IFO Survey
A 14:00 US- CB Confidence
A 14:00 US- New Homes Sales
Wed 25 Apr 2018
AA 14:30 US- EIA Crude
Thu 26 Apr 2018
AA 11:45 EZ- ECB Decision
A 12:30 US- Durable Goods
A 12:30 US- Weekly Jobless
Fri 27 Apr 2018
AA 03:00 JP- Bank of Japan
A 08:00 DE- Employment
A 08:30 GB- GDP
A 14:00 US- University of Michigan

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Tuesday January 28, 2014 - 10:09:02 GMT global-view.com - www.global-view.com