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Yellen Takes a Less Positive view on Economy. German Jobless in line with estimates
|Yellen Takes a Less Positive view on Economy. German Jobless in line with estimates|
28 February 2014 00:00 gmt
CALENDAR: JP- Unemployment, CPI, Retail Sales, Industrial Output. DE- Retail Sales, EZ- HICP (CPI), Unemployment, CA- GDP, US- GDP, Chicago PMI, University of Michigan, Pending Homes Sales, COT Report
| EURUSD 1.3705
|| U.S. 2.65% -2bp
|| North America:Higher|
| EURJPY 140.00
|| Bund 1.56% -6bp
|| DAX: Lower|
| GBPUSD 1.6685
|| GILT 2.68% -5bp
|| FTSE: Higher|
| USDJPY 102.12
|| JGB 0.59% 0bp
|| Far East Close:Mixed|
HIGH IMPACT ITEMS: JP- CPI, Retail Sales, Industrial Output, DE- Retail Sales, EZ- HICP (CPI), CA- GDP, US- GDP, Chicago PMI, University of Michigan, Pending Homes Sales
- Comments by Fed Chair Yellen Thursday focused on the weakness of the U.S. jobs market suggesting that the extended period Fed short-term policy ease will continue. She took the unusual step of revising her earlier prepared text to cite the recent turn softer in U.S. economic data. ON the other hand, it appears the Fed tapering policy will remain in place with asset purchases likely to finish later this year.
- 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.
- 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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