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Final Eurozone and U.K. Service PMIs Better than Expected. RBA Keeps Policy Steady as Expected
|Final Eurozone and U.K. Service PMIs Better than Expected. RBA Keeps Policy Steady as Expected|
May 6, 2014 09:00 gmt
US/CA- Trade. CA- Ivey PMI, US- 3-yr API Energy
| EURUSD 1.3925
|| U.S. 2.62% +1bp
|| North America:Higher|
| EURJPY 142.05
|| Bund 1.47% +1bp
|| DAX: Lower|
| GBPUSD 1.6935
|| GILT 2.67% +3bp
|| FTSE: Lower|
| USDJPY 102.00
|| JGB 0.61% 0bp
|| Far East Close: Mixed|
HIGH IMPACT NEWS ITEMS: US/CA- Trade, CA- Ivey PMI
- Final Services PMI's from Europe and the U.K. have generally been stronger than expected with the exception of Germany. The EURUSD has moved into range of its 1.40 psychological target . The same is true for GBPUSD 1.70.
- As expected, the Reserve Bank of Australia kept rates steady today saying the most prudent course is a period of stable rates.The RBA said the AUD remains historically high and its decline from a year ago will assist an economic transition
- 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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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
Thu 23 Nov
All Day flash PMIs
13:30 CA- Retail Sales
Fri 24 Nov
All Day flash PMIs
09:00 DE- IFO Survey
US- Early Closes
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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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