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Friday June 6, 2014 - 08:45:55 GMT
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May U.S. and Canada Jobs Data Markets Still Digesting ECB
|May U.S. and Canada Jobs Data Markets Still Digesting ECB.|
June 6, 2014 09:30 gmt
Daily Risk On/Off Heat Map
- Yields in prime fixed income markets are starting to diverge with German and French yields falling in the wake of the ECB yesterday while recent increases in U.K. and U.S. yields are holding. Yields on bonds on the periphery of the Eurozone are sharply lower again as the ECB is specifically targeted those economies for growth.
- Equities closed mixed to lower in the Far East earlier. European bourses are mixed. U.S. equities are slightly higher in futures trading.
- The U.S.10-yr is 2.58%, 0bp.
The heat map color scheme of interest rates reflects yields. This aligns all the colors in the chart to reflect risk-on (green) and risk-off(red).
HIGH IMPACT NEWS ITEMS: CA-
Employment. US- Employment
- The street view on May U.S. employment data are for a gain on the order of 220K in the month. ADP private employment data Wednesday were weaker than forecast. The problem is the ADP report is not a reliable predictor of NFP. Other data from the U.S. are pointing to a strong report.
- The May Swiss CPI finally broke into positive territory as deflationary pressures abated. See the FOREX FORUM. for actual data, selected charts, etc.) and comments from experienced traders to events as they happen.
- The ECB delivered all that was expected. It cut interest rates with the bank deposit rate at the ECB going negative (0-10%). implemented a Targeted Long-Term Repo Operation (TLTRO), and indicated that the bank was prepared to do Quantitative Ease (QE) if required. We feel the decision will weigh on the EUR over time, but this market tends to move on its own time schedule.
- See the FOREX FORUM. for actual data, selected charts, etc.) and comments from experienced traders to events as they happen.
June 6, 2014
- United Kingdom
Trade- GBP Sensitive to this statistic
- United States
Employment - Most important statistic of the month
9 June 2014
No Major Data TUESDAY
10 June 2014
||PPI mm Apr
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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14:00 EZ- Draghi Speech
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Tue 21 Nov
15:00 US- Existing Homes Sales
23:00 US- Yellen Speech
Wed 22 Nov
13:30 US- Weekly Jobless
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15:30 US- EIA Crude
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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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