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ECB and BOE Policy Unchanged. Disappointing German Output and Australia Jobs Figures
|ECB and BOE Policy Unchanged. Disappointing German Output and Australia Jobs Figures|
August 8, 2014 00.00 gmt
Daily Risk On/Off Heat Map
Markets in Europe remain in a risk-off posture into the European close on worry about developments related to Ukraine. Also President Draghi painted a gloomy picture about the European economy today. Draghi talked down the EUR again .
- Yields in prime Eurozone fixed income markets are lower on weak German production data. Yields on the European periphery are higher. The.EZ 10-yr is 1.07%, -4bp. Test of 1.00% possible?
- The U.K.10-yr gilt yield is 2.50% -2bp. A +25bp BOE rate hike is seen by end-2014.
- U.S.10-yr yield is 2.45%, -1bp. The psychological pivot remains 2.50%
- Far East equities closed mostly lower. Bourses in Europe are moistly lower. U.S. share futures are down modestly.
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: CN- Trade, JP- BOJ, DE- Trade, GB- Trade, CA- Employment, US- Productivity
- Friday sees trade reports from China, Germany and the U.K. Key July Canadian jobs data are also due.
- The BOE kept policy steady as expected. Its policy rationale is released two weeks following the policy decision announcement.
- The ECB made no policy changes but President Draghi made it clear once again that the ECB would like to see the EUR trade lower.
- Germany saw another soft key production figure. The ECB should be considering closely recent disappointing data closely today.
- Key Australian employment data were weaker than expected and have opened speculation about a Reserve Bank rate cut. the AUDUSD ts weaker.
- See the FOREX FORUM. for actual data, selected charts, etc.) and comments from experienced traders to events as they are released.
FRIDAY AUGUST 8, 2014
JP Bank of Japan
US Productivity 2Q14p
|Weekly Trading Planner Top Items:|
||Bank of Japan
||Trade eur bn
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.
|Copyright 2014, GlobalViewpoint, Inc All rights reserved|
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14:00 EZ- Draghi Speech
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Wed 22 Nov
13:30 US- Weekly Jobless
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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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