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Sunday February 16, 2014 - 14:18:19 GMT
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Monday Holidays to subdue Trade. Active Period Starts Tues
|Monday Holidays to subdue Trade. Active Period Starts Tues|
17 February 2014 00:00 gmt
CALENDAR: JP- GDP, US/CA- Holiday
| EURUSD 1.3696
|| U.S. 2.75% +1bp
|| North America:Higher|
| EURJPY 139.46
|| Bund 1.68% +1bp
|| DAX: Higher|
| GBPUSD 1.6734
|| GILT 2.80% +1bp
|| FTSE: Higher|
| USDJPY 101.83
|| JGB 0.59% -1bp
|| Far East Close:Higher|
HIGH IMPACT ITEMS: US/CA- Holiday, JP- GDP
- Last week, Fed Chair Yellen On the policy side, she indicated that the FOMC would run a policy consistent with her predecessor,Ben Bernanke. . In general, the Fed is expected to remain on its USD 10bln per meeting taper schedule, but will continue to pursue an ultra-easy short-term monetary policy well into the future.
- As for the ultra-easy monetary policy, from where we sit today, there appears to be a major structural problem that most of the major economies face with a lack of job creation. This cannot be cured by monetary policy, but higher interest rates certainly will not help. We expect to see low short-term interest rates globally well into the future until somehow excess productive capacity in the system is somehow absorbed. Expect excessive volatility in the financial markets if cheap money continues to slosh around globally.
- The highlights of the week ahead include a heavy data calendar after Monday holidays in the United States and Canada.
- Tuesday sees the latest monetary policy decision by the Bank of Japan and the start of the mid-month slew of U.K. data, which commences with inflation figures and the closely followed German ZEW Survey. Wednesday sees the start of a number of U.S. housing reports, then flash PMI data are released on Thursday. Canadian Inflation data come out on Friday along with Existing U.S. Homes Sales. data today are unlikely to be market-moving releases. 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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