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Thursday February 27, 2014 - 09:55:29 GMT
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German Employment in line with estimates. Yellen Testimony a key focus today.
|German Employment in line with estimates. Yellen Testimony a key focus today.|
27 February 2014 10:00 gmt
CALENDAR: CA- Current Account. US- Durable Goods, Weekly Jobless, Yellen, Natl Gas, 7-yr
| EURUSD 1.3650
|| U.S. 2.66% -1bp
|| North America: Steady|
| EURJPY 139.17
|| Bund 1.58% -4bp
|| DAX: Lower|
| GBPUSD 1.6635
|| GILT 2.68% -5bp
|| FTSE: Lower|
| USDJPY 101.96
|| JGB 0.59% 0bp
|| Far East Close:Mixed|
HIGH IMPACT ITEMS: CA- Current Account. US- Durable Goods, Weekly Jobless, Yellen, Natural Gas, 7-yr Auction
- February German unemployment declined in line with estimates, The lead Eurozone economy remains on a solid footing.Yesterday, unnamed ECB sources said an interest rate cut at next Thursday's meeting (one week from tomorrow) is unlikely. That view is in line with our perspective.
- Today sees the second round of (postponed by weather) testimony by Fed Chair Yellen before the Senate Banking Committee. Her prepared testimony should not be changed from two weeks ago, but we wonder if in light of recent data she could temper her economic outlook. After its March meeting, 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. Policy is data-dependent.
- German Retail Sales and Eurozone HICP (CPI) data will be closely scrutinized on Friday. Eurozone HICP have been a high impact item recently and certainly will be watched for any sign of ongoing disinflationary pressures. More U.S. Housing data are due Friday. Also U.S, and Canadian GDP figures are due.
- 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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