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ECB Sends Dovish Message, But Short on Action. No BOE Changes as Expected. German Data Miss
|ECB Sends Dovish Message, But Short on Action. No BOE Changes as Expected. German Data Miss|
November 7, 2014 00:00 GMT
Daily Risk On/Off Heat Map
17:00 GMT- Current Market Conditions:
Late in European trade, markets have moved int0 in a RISK-ON posture after Mario Draghi at the ECB promised additional measures if needed to boost the Eurozone economy. The gloomy ECB view on its economy persists. The promise of additional ease undermined the EUR and gave markets a lift.
In the Far East, equities ended mixed to lower European bourses are higher. U.S. shares are higher at this hour. U.S. 10-yr yields are higher ahead of payrolls on Friday roughly. 10-yr bund and gilt yields are up. European peripheral bond yields are mostly lower.
The heat map color scheme of interest rates reflects yields.
HIGH IMPACT NEWS: DE- Industrial Output, CH- CPI, GB-
Trade, US- Employment, Yellen, CA- Employment
- Friday highlights are U.S. and Canadian Employment data, plus several items from Europe and the U.K.
- ECB President Draghi did not disappoint the markets on Thursday when he made it clear that the central bank was prepared to do whatever is needed to support the Eurozone economy. Observers said he appeared to be irritable following the council meeting.
- The Bank of England kept policy steady as expected and released no policy statement as usual.
- The volatile Australian Employment report came in line with street estimates. German Factory Orders missed.
- UK Manufacturing and Industrial Output data beat street estimates.
- 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):FRIDAY
09:15 CH CPI SNB targets inflation
09:30 GB Trade External accounts
13:30 CA Jobless Key growth measure
13:30 US Jobless Top U.s. indicator
15:15 FRB Yellen Paris key speech
||Trade eur bn
||Ind Output yy
||Retail Sls mm
||Retail Sls yy
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:
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
co-founding Partner, Global-View.com
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