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ECB Decision Due. Eurozone Final PMIs Soft. U.K. Mfg PMI Weak. PMIs Elsewhere Lackluster
|ECB Decision Due. Eurozone Final PMIs Soft. U.K. Mfg PMI Weak. PMIs Elsewhere Lackluster|
October 2, 2014 0:00 GMT
Daily Risk On/Off Heat Map
Current Market Conditions:
Markets have moved from an early MIXED RISK posture to a RISK-OFF positioning. I am seeing prime bond yields falling as equities sell-off As of the European close U.S. shares are trying to stabilize. The EURUSD has been trading lower on the day.
- Yields in prime Eurozone fixed income markets are sharply lower. The 10-yr bund is 0.906%, -4.3% bp. Peripheral bond yields are lower.
- The U.K.10-yr gilt yield is 2.368% -5.9 bp. BOE Gov Carney has continued to signal a Spring 2015 rate hike.
- U.S.10-yr yield is 2.429%, -7.7bp.The Psychological focus remains on 2.50%.
- Far East equities were mixed. China was closed for a holiday. Bourses in Europe are closing lower. U.S. shares futures are lower..
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: AU- Trade, GB- Construction PMI, EZ- ECB, US- Weekly Jobs, Factory Orders
- Thursday sees the latest ECB Po;icy decision. No major changes in policy are expected. The surprise outcome would be a strong easing of policy.
- ADP Private Payroll data showed a gain of +213K in August vs. +202K in July. The data should have no impact on street expectations for a gain in non-farm payrolls of about that figure on Friday.
- Eurozone final manufacturing PMIs remained mostly soft . German production has moved into contraction. Swiss PMI remained soft.
- The U.K. Manufacturing PMI continued its strong negative divergence with the service sector.
- The Japanese Tankan Survey gained modestly to 13 from 12. The Japanese final Manufacturing PMI was flat while Chinese data were steady. The Australian PMI fell further.
- 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. .
- On Friday, a slew of Service PMIs are set for release along with the September U.S jobs report.
- 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):
01:30 AU Trade Important Trade measure
08:28 GB Construction PMI Closely-followed production index
11:45 EZ Europe Cntl Bank More ease to be signaled?
12:30 US Initial Claims +300 expected
14:00 US Factory Orders Future production predictor
07:55 DE SVC PMI final Key Service Sector index
07:58 EZ SVC PMI final Key Service Sector index
08:28 GB SVC PMI Key Service Sector index
12:30 CA Trade External sector measure
12:30 US Payrolls Major Fed Target
12:30 US Trade Impacts GDP calculation
13:45 US Markit SVC PM Key Service Sector index
14:00 US ISM SVC PMI Key Service Sector index
||Europe Cntl Bank
||Nat Gas bcf
||SVC PMI final
||SVC PMI final
||SVC PMI final
||Retail Sls mm
||Retail Sls yy
||Markit SVC PMI
||ISM SVC 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.
|Copyright 2014, GlobalViewpoint, Inc All rights reserved|
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Amazing Trader EVENT RISK Calendar:
Thu 16 Nov
01:30 AU- Employment
09:30 GB- Retail Sales
10:00 EZ- final HICP
14:15 US- Industrial Production
Fri 17 Nov
13:30 CA- Retail Sales, CPI
13:30 US- Housing Starts and Permits
Potential Trading Opportunities
John M. Bland, MBA
- POTENTIAL PRICE RISK: HIGH to Medium Wed -- 20:30 GMT AU- Employment data.
- POTENTIAL PRICE RISK: HIGH Thu -- 09:30 GMT GB- Retail Sales.
- POTENTIAL PRICE RISK: Mediun Thu -- 10:00 GMT EZ- final HICP. ECB targets inflation.
- POTENTIAL PRICE RISK: Medium Thu -- NY Morning US- Import Prices, Philly Fed, Industrial, Production, NAHB. Usually not major movers.
- POTENTIAL PRICE RISK: HIGH to Medium Fri -- 13:30 GMT CA- Retail Sales and CPI.
- POTENTIAL PRICE RISK: HIGH to Medium Fri -- 13:30 GMT US- Housing Starts and Permits.
co-founding Partner, Global-View.com
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