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Tuesday March 4, 2014 - 10:49:56 GMT
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Ukraine tensions ease. The RBA keeps policy steady and talks down the AUD again
|Ukraine tensions ease. The RBA keeps policy steady and talks down the AUD again|
March 4, 2014 11:00 gmt
CALENDAR US- API Data
| EURUSD 1.3755
|| U.S. 2.64% +4bp
|| North America: Higher|
| EURJPY 140.02
|| Bund 1.59% +3 bp
|| DAX: Higher|
| GBPUSD 1.6675
|| GILT 2.69% +3bp
|| FTSE: Higher|
| USDJPY 101.80
|| JGB 0.59% +1bp
|| Far East Close:Lower|
HIGH IMPACT ITEMS: No major data
- Tensions in Ukraine today have eased today and the easing of tensions has been reflected in the financial markets. The flight to safety bid has eased from bond markets and equity prices generally are higher.
- No change in policy by the RBA was as expected. Governor Stevens suggested that policy is unlikely to be changed in the medium term, although governor reinserted some concern about the level of the AUD into his statement. It said "The exchange rate remains high by historical standards. "Stevens noted, while saying previous falls were helping the economy to rebalance.
- We expect no change in European Central Bank policy this Thursday. Flash Eurozone HICP (CPI) data ticked up in January. The final data usually do not change much from the flash release. Furthermore, the German Bundesbank clearly is not in favor of a rate cut. As far as I can tell, ECB policy is geared more to the needs and desires of Germany than the rest of the bloc. German data in the latest week generally came in stronger than anticipated.
- This week also sees central bank policy meetings for Canada, the U.K. The tail end of the week features key U.S. and Canadian employment data.
- 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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