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Tuesday March 11, 2014 - 19:03:48 GMT
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Wednesday is shaping up to be another quiet session with many sidelined
|Wednesday is shaping up to be another quiet session with many sidelined|
March 12, 2014 :00:00 gmt
CALENDAR Far East: NZ- RBNZ Decision. Europe: No Major Data North America: US- Weekly Mortgages, Weekly Crude, 10-yr auction.
| EURUSD 1.3865
|| U.S. 2.78% bp
|| North America:Lower|
| EURJPY 142.74
|| Bund 1.64% +1bp
|| DAX: Higher|
| GBPUSD 1.6620
|| GILT 2.78% -1bp
|| FTSE: Steady|
| USDJPY 102.96
|| JGB 0.63% 0bp
|| Far East Close: Higher|
HIGH IMPACT NEWS ITEMS: NZ- RBNZ Decision, US- 10-yr auction
- Tuesday has seen a mixed performance in major markets as traders seemed to be looking for a new trading theme. The Fed taper theme is no longer an issue, the ECB has clarified its policy stance and Ukraine seems to be fading as a source of uncertainty.
- A light data news calendar leaves the fate of the markets in the hands of algo systems who typically revert to correlation trades. One new correlation trade that has surfaced recently is copper to the CNY because the Chinese manufacturing economy is heavily dependent on copper for production.
- For what its worth, everything is correlated to everything. We feel that the principal driving force for the markets is equities. Risk-on when equities are rising and risk-off when they are falling.
- The data for the week ahead seems to be relatively quiet. It sees central bank decisions by the Reserve Bank of New Zealand. Thursday sees key February employment data from Australia and and U.S. retail Sales 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.
|Copyright 2013, GlobalViewpoint, Inc All rights reserved|
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John M. Bland, MBA
co-founding Partner, Global-View.com
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