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Markets Adjust to a Faster Fed Timeline for Policy Normalization
|Markets Adjust to a Faster Fed Timeline for Policy Normalization|
March 21, 2014 00:00 gmt
CALENDAR:Far East: No Major Data. EZ- Consumer Confidence. CA- Retail Sales, CPI, US- COT Report
| EURUSD 1.3777
|| U.S. 2.77% +2bp
|| North America:Higher|
| EURJPY 141.23
|| Bund 1.65% +5bp
|| DAX: Higher|
| GBPUSD 1.6497
|| GILT 2.77% +6bp
|| FTSE: Lower|
| USDJPY 102.51
|| JGB 0.60% -1bp
|| Far East Close:Lower|
HIGH IMPACT NEWS ITEMS:EZ- Consumer Confidence, CA- Retail Sales, CPI
- Thursday saw the markets adjusting to comments made by Fed chair Yellen at her press conference Wednesday after the FOMC. We saw her providing the current most likely likely time line for the start of a normalization of U.S. monetary policy. Her tentative schedule was faster than the markets were expecting. She suggested a tightening in the Spring of 2015, depending on future data. By the end of the day in the U.S. equity markets were up strongly on the day.
- There were no surprises in the Swiss National Bank policy decision today. It kept its 0.0% target for 3 mo Euro-Swiss interest rates and will maintain its 1.20 floor on the EURCHF exchange rate.
- 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:
Thu 16 Nov
01:30 AU- Employment
09:30 GB- Retail Sales
10:00 EZ- final HICP
14:15 US- Industrial Production
Fri 17 Nov
13:30 CA- Retail Sales, CPI
13:30 US- Housing Starts and Permits
Potential Trading Opportunities
John M. Bland, MBA
- POTENTIAL PRICE RISK: HIGH to Medium Wed -- 20:30 GMT AU- Employment data.
- POTENTIAL PRICE RISK: HIGH Thu -- 09:30 GMT GB- Retail Sales.
- POTENTIAL PRICE RISK: Mediun Thu -- 10:00 GMT EZ- final HICP. ECB targets inflation.
- POTENTIAL PRICE RISK: Medium Thu -- NY Morning US- Import Prices, Philly Fed, Industrial, Production, NAHB. Usually not major movers.
- POTENTIAL PRICE RISK: HIGH to Medium Fri -- 13:30 GMT CA- Retail Sales and CPI.
- POTENTIAL PRICE RISK: HIGH to Medium Fri -- 13:30 GMT US- Housing Starts and Permits.
co-founding Partner, Global-View.com
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