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U.S. and German Data Mixed. Focus on U.S. Jobs Report on Friday
|U.S. and German Data Mixed. Focus on U.S. Jobs Report on Friday|
August 1, 2014 00:00 gmt
Daily Risk On/Off Heat Map
Equity markets remain in a mixed risk-off posture following a larger than expected increase in the U.S. Employment Cost Index. There is an increased focus on U.S. wage rates. They could be pivotal in the jobs figures on Friday. EURUSD is trading just below 1.3400.
- Yields in prime Eurozone fixed income markets are steady to higher. Yields on the European periphery are mixed. EZ 10-yr 1.18%, 0bp.
- The U.K.10-yr gilt yield is 2.62% -2bp. A +25bp BOE rate hike is still expected by yearend.
- U.S.10-yr yield is 2.56%, 0bp. The psychological pivot remains 2.50%
- Far East equities closed mixed. Bourses in Europe are ending lower . U.S. shares are weaker.
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: JP, CN, EZ, GB, US, CA- PMIs, US- NFP, Personal Income
- On Friday, a slew of final PMI reports, month U.S. employment data and the final University of Michigan survey for July are featured.
- U.S. data on Thursday were mixed, but generally supported the notion of a policy tightening earlier rather than later.
- Flash EZ HICP (CPI) the headline data, which the CB targets, was on the low side of expectations. German Employment data were generally as expected and have had no market impact German June Retail Sales data were mixed.
- The July ADP Private Payrolls Survey saw Private payrolls rise only +218K in the month after a +281K increase in June. The data should not have much impact on street estimates for a 235mln increase in NFP in July.
- See the FOREX FORUM. for actual data, selected charts, etc.) and comments from experienced traders to events as they are released.
||HSBC final PMI
||MFG PMI final
||MFG PMI final
||MFG PMI final
||PCE defl y
||MKT MFG PMI final
||U Mich final
||ISM MFG PMI
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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Amazing Trader EVENT RISK Calendar:
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
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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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