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Major Mfg PMI Mixed to Weaker than Expected. ADP Jobs on Wednesday
|Major Mfg PMI Mixed to Weaker |
than Expected. ADP Jobs on Wednesday
April 2, 2014 00:00 gmt
CALENDAR: Europe: EZ- PPI. North America: US- Mortgages, ADP Jobs, Factory Orders, Weekly Crude
| EURUSD 1.3790
|| U.S. 2.75% +1bp
|| North America: Higher|
| EURJPY 143.00
|| Bund 1.58% +1bp
|| DAX: Higher|
| GBPUSD 1.6630
|| GILT 2.73% -1bp
| USDJPY 103.58
|| JGB 0.62% -3bp
|| Far East Close: Mixed|
HIGH IMPACT NEWS ITEMS: US- ADP Jobs, Factory Orders
- The major focus on Wednesday will be March ADP Private Jobs report which can provide an inkling on how the Friday Non-Farm payrolls data will turn out.
- Flash EZ March HICP (CPI) released early Monday saw the headline reading fall to 0.50% yy and that data could be decisive in terms of causing the ECB to consider a policy easing at its meeting on Thursday. German unemployment data for March improved modestly.Manufacturing PMI data appear to have peaked out mostly in 4Q13 and to a lesser extent early 1Q14. Service PMI data are due on Thursday. See the FOREX FORUM. for data releases, charts and comments from experienced traders to events as they happen.
- In general, North America looks stronger than Europe, which is stronger than the Far East. If the data are representative of current economic activity, the pace of acceleration in economic growth may be slowing. The Quarterly Tankan Survey slowed modestly as well. .
- As expected, the Reserve Bank of Australia kept rates steady today. The Australia PMI eased and remains in contraction
- Final Service PMI data are due on Thursday. Key U.S. jobs data are released on Wednesday and Friday. Canadian March employment data are slated for Friday as well
- 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
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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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