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Fed Policy Steady; Forward Guidance Benchmarks Change. Active News Calendar Thursday
|Fed Policy Steady; Forward Guidance Benchmarks Change. Active News Calendar Thursday|
March 20, 2014 00:00 gmt
CALENDAR: JP- Holiday. Europe: CH- Swiss National Bank Decision, GB- Retail Sales, US- Weekly Jobless, Philly Fed, LEI, Existing Homes Sales, Natural Gas
| EURUSD 1.3850
|| U.S. 2.75% +9bp
|| North America:Lower|
| EURJPY 141.89
|| Bund 1.60% +3bp
|| DAX: Higher|
| GBPUSD 1.655
|| GILT 2.71% +2 bp
|| FTSE: Lower|
| USDJPY 102.43
|| JGB 0.61% -1bp
|| Far East Close:Mixed|
HIGH IMPACT NEWS ITEMS: CH- Swiss National Bank, GB- Retail Sales, US- Weekly Jobless, Philly Fed, LEI, Existing Homes Sales
- Thursday highlights include the latest Swiss National Bank policy decision and U.K. Retail Sales. The U.S. highlights include: weekly Jobless Claims, the Philly Fed Index and Existing Homes Sales.
- The latest Fed rates decision saw no changes in the present course of policy, as expected. Nevertheless, the markets reacted negatively in light of changes is the outlook for interest rates by Fed members. Long-term rates rose and equity prices fell on the decision.Yellen downplayed these changes.
- Also as expected, the Fed reduced asset purchase plans by another $10bln to $55bln/mo. Also the Fed changed its forward guidance to qualitative from quantitative.
- Earlier U.K. Claimant Count Unemployment was about steady (after previous month revision). 7% Unemployment Carney target to consider raising rates.See the FOREX FORUM. for comments from experienced traders to events as they happen.
- On Friday, Canadian Retail Sales and CPI data 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. for comments from experienced traders to events as they happen.
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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Amazing Trader EVENT RISK Calendar:
Tue 21 Nov
15:00 US- Existing Homes Sales
23:00 US- Yellen Speech
Wed 22 Nov
13:30 US- Weekly Jobless
13:30 US- Durable Goods
15:00 US- final University of Michigan Survey
15:30 US- EIA Crude
19:00 US- FOMC Minutes
Thu 23 Nov
All Day flash PMIs
13:30 CA- Retail Sales
Fri 24 Nov
All Day flash PMIs
09:00 DE- IFO Survey
US- Early Closes
Potential Trading Opportunities
John M. Bland, MBA
- POTENTIAL PRICE RISK: HIGH Mon -- 14:00 GMT EZ- Draghi speaks in Brussels. Looking for any policy hints or bias
- POTENTIAL PRICE RISK: HIGH Tue -- 13:30 GMT US- Existing Homes Sales. Top Housing Statistic
- POTENTIAL PRICE RISK: HIGH Tue -- 23:30 GMT US- Yellen Speech. Early evening. Looking for anything on policy
- POTENTIAL PRICE RISK: Medium Wed -- 13:30 GMT US- Weekly Jobless, Durable Goods
- POTENTIAL PRICE RISK: Medium Wed -- 15:00 GMT US- final University of Michigan Survey
- POTENTIAL PRICE RISK: Medium Wed -- 15:30 GMT US- EIA Crude
- POTENTIAL PRICE RISK: HIGH Wed -- 19:00 GMT US- FOMC Policy Minutes. Key policy release
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