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Mixed flash Eurozone PMIs, China flash PMI Improves, U.K. GDP Data Unrevised
|Mixed flash Eurozone PMIs, China flash PMI Improves, U.K. GDP Data Unrevised|
May 22, 2014 010:00 gmt
Daily Risk On/Off Heat Map
- Early European trading markets are holding onto the general "risk-on" posture from late Wednesday.
- Yields in prime fixed income markets are steady to higher as equities rise. Yields on bonds on the periphery of the Eurozone have fallen sharply again.
- Equities mostly rallied in the Far East earlier. European bourses are now higher. U.S. equity futures are currently trading higher.
- The U.S. 10-yr is 2.55%, +1bp.
The heat map color scheme of interest rates reflect yields. This aligns all the colors in the chart to reflect risk-on (green) and risk-off (red)
HIGH IMPACT NEWS ITEMS: CA- Retail Sales, US- Weekly Jobs, flash Mfg PMI, Existing Homes Sales, Lead Indicators, Nat Gas
The flash HSBC China PMI recovered in May to just below the "50" expansion level, and the report gave Far East markets a lift.
Flash PMI data from Europe were missed with Manufacturing data falling and Service data mixed, but on balance higher. In general they support the case for ECB ease in two weeks time.
See the FOREX FORUM. for actual data, selected charts, etc.) and comments from experienced traders to events as they happen. .
Five Day Trading Planner
THURSDAY 22 May 2014
.- - GDP. The second revision to 1Q14 is not likely to be changed much. Unlikely to be a market mover.
- - flash May PMI's. Always closely followed, but we have not been seeing a reliable pass through of the PMI sentiment recently to hard data.
- - Existing Homes Sales the most important U.S. housing statistics. It is seen improving.
- - Retail Sales Key Canadian statistic, but it tend to be rather old. Seen weaker,
FRIDAY 23 May 2014
- - IFO survey. Most important German sentiment survey and usually a market mover. Consensus: mixed to weaker
- - CPI Seen within the Bank of Canada target range. Such an outcome would dampen speculation for a rate cut.
- - New Homes Sales. Another piece of the housing picture. It is seen improving. This is usually not a market mover.
MONDAY 26 May 2014
UK & U.S
.- - Holidays
TUESDAY 27 May 2014
United States- Durable Goods/ Capacity Utilization, Case Shiller, Markit Service PMI, Richmond Fed Survey, Conference Board Survey, 2-yr Auction, Fed Minutes
WEDNESDAY 28 May 2014
United States- 5-yr Auction.
THURSDAY 29 May 2014
United States- GDP, Weekly Jobless Claims. Pending Homes Sales
FRIDAY 30 May 2014
United States- University of Michigan survey
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.
John M. Bland, is a founding partner of Global-View.com, and an author. He has been an FX consultant for a money center. bank, a forex trader for a N.Y. institution, and a FX analyst for a top 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:
Mon 20 Nov
14:00 EZ- Draghi Speech
15:00 US- Leading Indicators
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
Potential Trading Opportunities
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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