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Wednesday February 5, 2014 - 21:15:37 GMT
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Waiting for ECB and BOE. Mixed Service PMIs. U.S. Jobs Friday
|Waiting for ECB and BOE. Mixed Service PMIs. U.S. Jobs Friday|
6 February 2014 00:00 gmt
CALENDAR. CN/NZ- Holiday, AU- trade -- DE- Trade, Factory Orders, GB- BOE Rates, EZ- ECB Rates -- US/CA- Trade, US- Productivity, Weekly Jobs, Natural Gas, CA- Ivey PMI
| EURUSD 1.3533
|| U.S. 2.67% +5bp
|| North America: Steady|
| EURJPY 136.18
|| Bund 1.64% -1bp
|| DAX: Lower|
| GBPUSD 1.6311
|| GILT 2.70% -2bp
|| FTSE: Higher|
| USDJPY 101.36
|| JGB 0.60% -2bp
|| Far East Close:Lower|
HIGH IMPACT ITEMS: CN/NZ- Holiday, AU- trade, DE- Trade, Factory Orders, GB- BOE Rates, EZ- ECB Rates, US/CA- Trade, US- Productivity, Weekly Jobs
- January ADP Private Jobs report data were as expected. They point to a NFP reading of around +180K on Friday.. We still feel that might be a bit optimistic after the severe weather seen that month.
- Service PMI data from the U.K. data were weaker than seen and Eurozone readings were mixed. U.S data were stronger than forecast.
- Thursday sees a major ECB meeting. ECB President Draghi faces a major dilemma with disinflationary pressures mounting and economic growth in the Eurozone lagging. There is chatter the central bank may wait another month for new economic forecasts before taking any action. This sounds silly to us. The German Bundesbank last Friday appeared to give a green light to ECB Quantitative Ease (QE).
- The Bank of England meets on Thursday also. Latest data have been turning mixed. No policy changes are expected. The end of the week sees January employment data from the U.S. Be sure to refer daily to the Global-View Economic Calendar For key items (actual data, selected charts, etc.) as they are released, see the FOREX FORUM .
FX Trade Talk: What's moving markets-- Expert 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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15:00 US- Existing Homes Sales
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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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