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Yellen Moves to the Center. Draghi Remains Dovish. German IFO Starts the New Week
|Yellen Moves to the Center. Draghi Remains Dovish. German IFO Starts the New Week|
August 25, 2014 00:00 GMT
Daily Risk On/Off Heat Map
Current Market Conditions:
I had low expectations for the speeches today by Fer Chair Yellen in Jackson Hole. ECB President Draghi will speak later. There is no reason for him to make a new policy declaration at this meeting either. Be careful when the market is sucked in by the media hype. The. EURUSD has been holding below 1.3300.
- Monday is a holiday for London. It also sees the release of the closely-followed German IFO Survey. IFO is an important indicator of the German economy. U.S. New Homes Sales are due as well.
- Speeches by Fed Chair Yellen and ECB President Draghi at the Jackson Hole Symposium in Wyoming did not live up to all the media. Notably, Janet Yellen appeared to move more to the center (less dovish) on policy. As for ECB President Draghi, he continued to talk down the EUR and talk up quantitative Ease (QE) for the.3 Eurozone.
- Tuesday sees U.S. Durable Goods, Case-Shiller Index, Richmond Fed, and the Conference Board Survey. Later there will be a 2-yr auction, Fed Discount Rate vote and weekly API data.
- The key event Wednesday is the 5-yr auction.
- Thursday features German employment data, U.S. Weekly jobless, revised GDP, Pending Homes Sales and a slew of Japanese monthend data.
- On Friday German Retail Sales and flash EZ CPI are key. U.S. Personal Income, the Chicago PMI and final University of Michigan Sentiment are slated.
- Be sure to refer daily to the Global-View Economic Calendar and the Forex Forum for the complete list of key items (actual data, selected charts, etc.) as they are released.
Weekly Trading Planner Top Items (GMT):
00:00 GB Holiday
08:00 DE IFO Climate Important sentiment survey
14:00 US New Home Sales Key Housing Statistic
12:30 US Durable Goods Orders Industrial Demand
14:00 US CB Consumer Confidence Important sentiment survey
17:00 TRY 2-yr Auction
17:00 TRY 5-yr Auction
00:30 JP CPI BOJ Target
07:55 DE Unemployment Key ECB metric
12:30 US Initial Claims Employment measure
12:30 US GDP 2Q14 preliminary Broadest measure of economy
14:00 US Pending Homes Existing Homes Predictor
17:00 TRY 7-yr Auction
06:00 DE Retail Sales Consumer demand
09:00 EZ flash HICP ECB Target
12:30 CA GDP Broadest measure of economy
12:30 US PCE deflator Fed Target
13:55 US U Mich Survey final Important sentiment survey
||New Home Sales
||Case-Shil 20 yy
||CB Consumer Conf
||WK Mortgage Stats
||EIA Crude mn
||EIA Gasoline mn
||EIA Distillate mn
||EIA Cap Util
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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Amazing Trader EVENT RISK Calendar:
Mon 20 Nov
14:00 EZ- Draghi Speech
15:00 US- Leading Indicators
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
Thu 23 Nov
All Day flash PMIs
13:30 CA- Retail Sales
Fri 24 Nov
All Day flash PMIs
09:00 DE- IFO Survey
US- Early Closes
Potential Trading Opportunities
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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