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U.S. Housing Flat. Flash Global PMIs Releases Wednesday
|U.S. Housing Flat. Flash Global PMIs Releases Wednesday|
April 23 2014 00:00 gmt
CALENDAR: AU- CPI, CN- flash HSBC PMI. FR/DE/EZ- flash Mfg and SVC PMIs, BOE Minutes. US- Weekly Mortgages, New Homes Sales, flash Markit PMI, Weekly Crude, 5-yr. EZ- Consumer Confidence, US- Existing Homes Sales. Richmond Fed index, API Energy
| EURUSD 1.3807
|| U.S. 2.74% +5bp
|| North America: Higher|
| EURJPY 141.57
|| Bund 1.53% +3bp
|| DAX: Higher|
| GBPUSD 1.6820
|| GILT 2.72% +2bp
|| FTSE: Higher|
| USDJPY 102.54
|| JGB 0.61% 0bp
|| Far East Close: Mixed|
HIGH IMPACT NEWS ITEMS: AU- CPI, CN- flash HSBC PMI, FR/DE/EZ- flash Mfg and SVC PMIs, BOE Minutes. US- New Homes Sales, flash Markit PMI, 5-yr
- Tuesday turned into a "risk-on" session and this was favorable for the USD. Furthermore, early in the day, a ECB official explicitly talked down the EURUSD. This reinforces the view that the strength of the EUR is a major concern at the central bank. So far the USD gains vs. the EUR have been modest .
- March U.S. Existing Homes Sales data were in line with estimates. Existing Homes were more or less steady vs. month ago levels and thus remain depressed. The Richmond Fed Survey was stronger than expected.
- Wednesday sees an avalanche of key data releases. One highlight of the day is the release of April flash PMI data from various parts of the globe. Flash PMI data estimates generally tend to wind up close to the final reading. Canadian (Wednesday) and U.K. (Friday) Retail Sales data are always key releases. Thursday sees the major German IFO Survey results. The final April University of Michigan Survey is released on Friday. Next week will see a FOMC decision and the critical monthly U.S. employment reports..
- 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
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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.
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