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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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