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Thursday July 24, 2014 - 09:19:19 GMT
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PMI Data So Far Mostly Better than Expected. Active Data Day for U.S.
|PMI Data So Far Mostly Better than Expected. Active Data Day for U.S.|
July 24, 2014 09:30 gmt
Daily Risk On/Off Heat Map
Early Thursday in Europe, traders are digesting generally stronger than expected EZ and German flash PMI data. As a result markets seem to be moving into a risk-on posture. The EURUSD is up modestly.
- The U.S. sees a full data calendar that features Weekly Jobless data, flash Manufacturing PMI and New Homes Sales.
- The Reserve Bank of New Zealand raised rates by +25bp to 3.50% as widely expected but also talked the kiwi down strongly and signaled a pause in policy tightening.
- Today is July flash PMI day. PMIs generally have been positive . The China HSBC PMI was better than expected. Japan remained above the 50 expansion line but slightly missed street estimates.
- Germany saw better than expected PMI data and the EZ improved. French data were mixed. .K? Retail Sales figures for June were weaker than forecast.
- On Friday, the German IFO Survey, U.K. GDP and U.S. Durable Goods are slated.
- See the FOREX FORUM. for actual data, selected charts, etc.) and comments from experienced traders to events as they are released.
||Mfg MKt PMI flash
||New Home Sales
||Nat Gas bcf
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. He was a FX consultant to major corporations. He has also been a institutional forex trader, FX analyst for a blue chip Fed watching service and an author. John has an MBA in Finance and a BA in Economics from the University of California, Berkeley.
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