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Forex Forum Archive for 12/1/2012
Pick a date from the header above to view forum postings for that day.
Cambridge Joe 21:46 GMT December 1, 2012
The politicians in Washington (and elsewhere) never fail to disappoint. Now that they are back from the Thanksgiving break, they are back to their old tricks. So what we see every day has been political posturing by all parties, and whenever they speak, forex, equity, bond, etc markets react to their headlines. We cannot speak for voters, but it is our perception that they must be disgusted with this spectacle and just want reasonable decisions made quickly to resolve the budget issues. They are not going to earn popularity points by dragging out the discussions until the last minute at the end of the year. There can be no constituency for reckless behavior by this bunch. It would be unrealistic to expect any changes in the week ahead.
The first week of each new month sees the release globally of PMI data. These Purchasing Manager Indices are the earliest read we get on how economies are performing in absolute and relative terms and are always closely watched. In addition to the PMI data, the first week of the month tends to see key central bank decisions. The Reserve Bank of Australia is expected to cut its key cash rate target by 25bp to 3.00%. Its unclear what the RBNZ will do on Thursday (in New Zealand), but the Bank of England and European Central Bank are expected to keep rates steady on Thursday. This week also sees key employment data from Australia Canada and the United States. For additional detail (dates, times, data estimates) visit the Global-View Economic Calendar and the Forex Forum as key items are released.
-- John M. Bland, www.global-view.com
Mtl JP 16:59 GMT December 1, 2012
China PMI Novemeber 2012
NBS: 50.6 vs. 50.9 exp. vs. 50.2 prev.
TTN: Live News Special Offer
PAR 08:30 GMT December 1, 2012