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Wednesday January 29, 2014 - 10:26:39 GMT
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Turkey hikes rates.Risk-off trade eases. Fed decision due
|Turkey hikes rates.Risk-off trade eases. Fed decision due|
29 January 2014 11:00 gmt
CALENDAR: North America: US- Weekly Mortgages, Weekly Crude, Fed Decision
| EURUSD 1.3670
|| U.S. 2.77% +2bp
|| North America: Higher|
| EURJPY 140.74
|| Bund 1.68% +0bp
|| DAX: Higher|
| GBPUSD 1.6595
|| GILT 2.82% +1bp
|| FTSE: Higher|
| USDJPY 102.90
|| JGB 0.64% +1bp
|| Far East Close: Higher|
HIGH IMPACT ITEMS: US- Fed Decision
- Today 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. See the FOREX FORUM for latest key data and charts as they are released. .
- 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.
- Turkey hiked interest rates to 12.00% from 7.75% to support the sagging Turkish lira. this has helped ease the EM crisis somewhat.
- This week sees GDP data from the U.S. .The. sentiment surveys are always closely watched. The end of this week sees the start of the Lunar New Year observances. 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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John M. Bland, MBA
co-founding Partner, Global-View.com
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