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Focus on Iraq Instability. Data on Thursday Mostly Disappoints
|Focus on Iraq Instability. Data on Thursday Mostly Disappoints|
June 13, 2014 00:00 gmt
Daily Risk On/Off Heat Map
- Markets are in an increasingly risk-off posture. A possible disintegration of Iraq is a major worry. U.S. data Thursday were not stellar.
- Yields in prime Eurozone fixed income markets are mostly a touch lower,. while yields on the periphery are higher.
- U.K. yields are steady while U.S. yields have eased. The U.S. 10-yr is 2.62%, -1 bp.
- Equities closed lower in the Far East earlier. Bourses in Europe are closing lower. U.S. share futures are down.
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: JP- Industrial Output, Bank of Japan, US- PPI, University of Michigan
- U.S. weekly Jobless and the latest Retail Sales data were lackluster. worries continue to mount over Iraq.
- Australian Employment data fell short of expectations in May with net employment falling, rather than increasing as expected, Recent job growth has been disappointing. The AUD was not impacted adversely by the report. See the FOREX FORUM. for actual data, selected charts, etc.) and comments from experienced traders to events as they happen.
- Friday's economic calendar features a Bank of Japan policy Board meeting, US PPI and the preliminary monthly University of Michigan Survey. See the FOREX FORUM. for actual data, selected charts, etc.) and comments from experienced traders to events as they are released.
13 June 2014
- JP- BOJ - No rate change
- US- PPI- Part of the picture
- US- Univ of Mich Survey prelim- Key data
16 June 2014
- EZ- CPI- ECB targets Inflation
- US- TIC Flows- Watched closely by some
- US- Industrial Production- Key cyclical indicator
- GB- CPI, RPIX etc.- BOE targets inflation
- DE- ZEW Survey- key sentiment index
- US- Housing Starts & Permits- Key housing Statistic
- US- CPI- Price metric for Fed
18 June 2014
- GB- BOE Policy Minutes- latest policy decision
- US- Current Account- broadest measure of trade
- US- Fed Decision + Presser- policy outlook key
19 June 2014
- CH- Swiss National Bank Decision
- UK- Retail Sales- top economic metric
- US- Weekly Jobless- most current read on jobs
20 June 2014
- CA- Retail Sales- dated but key data
- CA- CPI- BOC policy metric
||Ind Out Aprf yy
||Bank of Japan
||U Mich prelim
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.
|Copyright 2014, GlobalViewpoint, Inc All rights reserved|
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15:00 US- Existing Homes Sales
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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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