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U.S. Service PMIs Outperform. Final Eurozone Service PMIs Due. U.K. as Well
|U.S. Service PMIs Outperform. Final Eurozone Service PMIs Due. U.K. as Well|
May 6, 2014 00:00 gmt
JP- Holiday, AU- Trade, RBA Decision. EZ/DE/FR/GB- Final Service PMIs, EZ- Retail Sales. US/CA- Trade. CA- Ivey PMI, US- 3-yr API Energy
| EURUSD 1.3877
|| U.S. 2.61% +2bp
|| North America:Mixed|
| EURJPY 141.69
|| Bund 1.46% +1bp
|| DAX: Lower|
| GBPUSD 1.6867
|| GILT 2.64% 0bp
|| FTSE: Closed|
| USDJPY 102.10
|| JGB 0.61% 0bp
|| Far East Close: Mixed|
HIGH IMPACT NEWS ITEMS: JP- Holiday, AU- Trade, RBA Decision, EZ/DE/FR/GB- Final Service PMIs, EZ- Retail Sales, US/CA- Trade, CA-PMI
- On Tuesday the second wave of PMIs (Service) will be released. It also features a monetary policy decision by the Reserve Bank of Australia. No rate changes are expected.
- On Monday, The HSBC flash PMI was about as expected and U.S. Service PMIs were better than forecast on a day restrained by holidays in ket centers. A key focus over the weekend has been the conflict in Ukraine.Fear of military action was the reason why yields on U.S. Treasuries went into a freefall on a flight-to-safety bid lasr Friday.
- 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
- This week also features Central Bank meetings 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.
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