Bank of Canada Policy Decision and ADP Data awaited. European PMIs Mixed

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Wednesday March 5, 2014 - 10:12:42 GMT
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Bank of Canada Policy Decision and ADP Data awaited. European PMIs Mixed

Bank of Canada Policy Decision and ADP Data awaited. European PMIs Mixed
March 5, 2014 11:00 gmt

CALENDAR .US- Weekly Mortgages, ADP Jobs, final Markit PMI, ISM Service PMI, Weekly Crude, Beige Book, Bank of Canada Decision

Spot
20d avg
10-yr
Equities

EURUSD 1.3725 1.3690
U.S. 2.68% 0bp
North America:Steady

EURJPY 140.56
139.84
Bund 1.62% +2bp
DAX: Lower

GBPUSD 1.6685
1.6598
GILT 2.72% +2bp
FTSE: Higher

USDJPY 102.40
102.14
JGB 0.61% 0bp Far East Close:Mixed

HIGH IMPACT ITEMS: GDP, US- ADP Jobs, final Markit PMI, ISM Service PMI, Weekly Crude, Beige Book, Bank of Canada

PMI Service data from Europe today generally has been mixed. Eurozone January retail sales were stronger than expected while GDP was unrevised. U.S. Service readings are due later in the day. Also the ADP Private Jobs report is scheduled for the open. These data always shape expectations foe the Non-Farm Payroll Data on Friday.

Later, the latest Bank of Canada policy decisions due. No rate changes are seen, but a less dovish policy statement should be anticipated. .

Tensions in Ukraine continue to ease after Russian President Putin ordered troops to step back in Ukraine. We have no doubt that he still plans to control the nation from behind the scenes. .

No rate change by the ECB is seen Thursday, although there is chatter about a reduction in the sterilization of asset purchases. Flash Eurozone HICP data ticked up in January. Also, the German Bundesbank is not in favor of a rate cut. We feel ECB policy is geared more to the needs of Germany than the rest of the bloc. German data recently has been mostly better than seen.A BOE decision is also due Thursday.

The end of the week features key U.S. and Canadian jobs 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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GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Tue 31 July 2018
AA JP- Bank of Japan
A 06:00 DE- Retail Sales
A 09:00 EZ- flash HICP/GDP
AA 12:30 US- Core PCE Deflator
A 14:00 US- CB Consumer Confidence
Wed 1 Aug 2018
A Final Mfg PMIs
AA 12:15 US- ADP Private Payrolls
A 15:00 US- EIA Crude
AA 18:00 US- Federal Reserve Decision
Thu 2 Aug 2018
AA 11:00 GB- Bank of England Decision
A 13:30 US- Weekly Jobless
Fri 3 Aug 2018
A Final Services PMIs
AA 12:30 US- Employment
A 12:30 US/CA- Trade

John M. Bland, MBA
co-founding Partner, Global-View.com

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Wednesday March 5, 2014 - 10:12:42 GMT global-view.com - www.global-view.com