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Wednesday January 29, 2014 - 20:08:01 GMT
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Fed announces another USD 10bln taper. Turkey hikes rates.
|Fed announces another USD 10bln taper. Turkey hikes rates.|
30 January 2014 00:00 gmt
CALENDAR: NZ- RBNZ Decision. DE- Unemployment, EZ- Consumer Confidence. US- GDP, Weekly Jobless, Pending Home Sales, Natural Gas, 5- & 7-yr Auctions
| EURUSD 1.3651
|| U.S. 2.68% -7bp
|| North America: Higher|
| EURJPY 139.41
|| Bund 1.64% -4bp
|| DAX: Lower|
| GBPUSD 1.6566
|| GILT 2.75% -6bp
|| FTSE: Lower|
| USDJPY 102.13
|| JGB 0.64% +1bp
|| Far East Close: Higher|
HIGH IMPACT ITEMS: NZ- RBNZ Decision, DE- Unemployment, EZ- Consumer Confidence, US- GDP, Weekly Jobless, Pending Home Sales, 5- & 7-yr Auctions, US- GDP, Weekly Jobless, Pending Home Sales, 5- & 7-yr Auctions
- The FOMC did not surprise markets on Wednesday at it kept interest rates steady, and announced a USD 10bln tapering of its asset purchases. Some were wondering if the central bank would not taper by a full USD 10bln on concern about the budding EM crisis. On the other hand, long term rates remain at depressed levels and under those circumstances, a tapering made sense. See the FOREX FORUM for latest key data and charts as they are released. .
- 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.
- Friday 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
- 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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