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U.S. PMI data beat, Mixed flash Eurozone PMIs, China flash PMI Improves
|U.S. PMI data beat, Mixed flash Eurozone PMIs, China flash PMI Improves.|
May 23, 2014 00:00 gmt
Daily Risk On/Off Heat Map
- Late in European trading, markets have been drifting away from a"risk-on" posture to greater neutrality.
- Yields in prime fixed income markets are steady to mixed as equities stabilizw. Yields on bonds on the periphery of the Eurozone have turned higher after falling sharply early.
- Equities mostly rallied in the Far East earlier. European bourses are closing higher. U.S. equies 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: DE- IFO Survey, CA- CPI, US- New Homes Sales
U.S. Weekly Jobless Claims increased modestly, but had little market impact. The flash Markit PMI was stronger than expected. Canadian Retail Sales data were mixed. U.S. and UK markets are likely to wind down early Friday ahead of Monday holidays.
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
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
||BOC CPI Apr y
||New Home Sales
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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John M. Bland, MBA
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