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Poor U.S. Data.BOJ Surprise. UK CPI Soft. German ZEW mixed
|Poor U.S. Data.BOJ Surprise. UK CPI Soft. German ZEW mixed|
19 February 2014 00:00 gmt
CALENDAR: Europe: GB- Employment, BOE Minutes. US- Weekly Mortgages, PPI, Housing Starts/Permits, Fed Minutes, API Data.
| EURUSD 1.3755
|| U.S. 2.72% -3bp
|| North America: Mixed |
| EURJPY 140.71
|| Bund 1.67% -2bp
|| DAX: Steady|
| GBPUSD 1.6688
|| GILT 2.75% -4bp
|| FTSE: Higher|
| USDJPY 102.28
|| JGB 0.61% +0bp
|| Far East Close:Higher|
HIGH IMPACT ITEMS: GB- Employment, BOE Minutes, PPI, Housing Starts/Permits, Fed Minutes
- Two pieces of U.S. data released on Tuesday fell well short of expectations. The Empire State PMI and National Association of Homebuilders Index were both very weak. Both were blamed on the severe winter weather in the U.S. It will taker a few months until "cleaner data will be seen. The EUR is benefiting at the expense of the USD and JPY.
- Overnight the BOJ surprised markets by announcing a new lending scheme to promote corporate lending. the USDJPY gained on the news.
- U.K. inflation data were mixed, but key target figures were soft. This suggests there will be no pressure on the Bank of England to tighten policy anytime soon. The GBP fell on the news but has since been rebounding. Be sure to refer daily to the Global-View Economic Calendar For key items (actual data, selected charts, etc.) as they are released.
- The German ZEW Expectations Survey was weaker than expected but the Current Conditions index gained The EURUSD has had a mixed response to the report.
- The rest of the week will see the usual mid-month slew of U.K. data, 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. 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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13:30 US- Weekly Jobless
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15:00 US- final University of Michigan Survey
15:30 US- EIA Crude
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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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