Forex News Blog
Back to The Headlines
Saturday May 3, 2014 - 15:04:43 GMT
Share This Story
global-view.com - www.global-view.com
All Eyes on U.S. Credit Markets. Monday Holiday in Tokyo and London
|All Eyes on U.S. Credit Markets. Monday Holiday in Tokyo and London|
May 5, 2014 00:00 gmt
JP- Holiday, HSBC PMI. GB- Holiday, EZ- PPI.
US- Markit & ISM Service PMIs
| EURUSD 1.3874
|| U.S. 2.59% -2bp
|| North America:Lower|
| EURJPY 141.85
|| Bund 1.45% -2bp
|| DAX: Lower|
| GBPUSD 1.6872
|| GILT 2.64% 0bp
|| FTSE: Higher|
| USDJPY 102.24
|| JGB 0.62% 0bp
|| Far East Close: Mixed|
HIGH IMPACT NEWS ITEMS: JP/GB- Holiday, HSBC PMI, US- Markit & ISM Service PMI's
- The week ahead sees a couple of holidays on Monday, but U.S. Service PMIs are due.
- A key focus over the weekend has been the conflict in Ukraine. Apparently there had been talk at one point on Friday that Russian President Putin was going to use expected inaction at a UN Security Council meeting as pretext for moving into Ukraine to establish order. Fer of military action was the reason why yields on U.S. Treasuries went into a free fall on a flight-to- safety bid.
- Jay has come up with an interesting theory about where EUR demand ahas been coming from recently. We KNOW that China has been actively driving the CNY weaker to stimulate economic growth via their export sector. That means the central bank has been BUYING USD and SELLING CNY in the forex markets to drive the CNY weaker. That means the central bank has been accumulating excess USD that it needs to do something with.
- These USD initially go into their forex reserves. We KNOW also that the PBOC has a forex Reserve diversification policy, which means that a number of those dollars are going to be switched into EUR, GBP, AUD, JPY, etc. Presumably they also have been buying U.S. treasuries with the dollars they continue to hold.
- I don't know if Jay's theory is correct, but it sounds logical to me, especially as we KNOW that the European Central Bank has been trying to jawbone the EUR weaker in recent weeks. One thing interesting about forex is that the policy decisions of one country can directly impact the economic well-being of another.
- We will be closely monitoring the ECB commentaries on Thursday to see what is said about the value of their common currency. We are not expecting any ECB policy changes. From a trading point of view keep a close eye on USDCNY because that will tell you in real-time what the PBOC is up to.
- On Tuesday the second wave of PMIs (Service) will be released. The week also features Central Bank meetings (Australia, England and Eurozone) and then Canadian Employment data on Friday.
- 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 actual data, selected charts, etc.) and 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.
|Copyright 2013, GlobalViewpoint, Inc All rights reserved|
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."
Elevate Your Trading With The Amazing Trader!
The Amazing Trader includes:
Register To Test Your Amazing Trader
- Actionable trading levels delivered to YOUR charts in real-time.
- Live trading strategy sessions.
- Market Updates with Trading Tools.
Trading Ideas for 15 November 2017
Register for the Amazing Trader
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
EXCLUSIVE: Global-View Daily Trading Chart Points Updated
EXCLUSIVE: Global-View Free Forex Database updated
TRADER ADVOCACY ARTICLES
Trader's Advocate Articles..