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Wednesday October 29, 2014 - 08:57:34 GMT -

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Dovish Fed Policy Decision Seen Later Today. Quiet Data Calendar

Dovish Fed Policy Decision Seen Later Today. Quiet Data Calendar
  October 29, 2014 09:00 GMT
Daily Risk On/Off Heat Map

08:45:30 GMT- Current Market Conditions
Markets remain in a RISK-ON posture heading into the FOMC policy decision today. Equity traders have been buying stocks based on expectations for a dovish policy statement later today. The Bank is widely expected to announce an end to its asset purchase program, which it steadily has been phasing out.  In Far East trade, equities ended higher.  European bourses are higher. U.S. share futures are steady at this hour.

U.S. 10-yr yields are lower. 10-yr yields in bunds are steady, while gilts are unchanged as well. Peripheral bond yields are lower.

The heat map color scheme of interest rates reflects yields.

    • The focus today is the latest FOMC decision and late in the U.S. day a RBNZ policy announcement.  Markets are setting up for a dovish policy statement from the Fed  on Wednesday. An end to the Asset Purchase Program is already priced.
    • Key items Thursday include German unemployment data and U.S. GDP.
    • Friday sees Japanese CPI, a BOJ policy decision, Eurozone flash HICP, U.S. Personal Income data and the final October University of Michigan Survey, Over the weekend, North American clocks are turned back one.
    • 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):
    18:00 FRB Fed Rates No Rate Change
    21:00 NZ RBNZ Cash Rates
    23:50 JP Ind Out  Production
    08:55  DE unemployment
    12:30  US Initial Claims
    12:30  US GDP broadest growth measure
    00:30 JP Core CPI BOJ target
    04:30 JP Bank of Japan No Rate change seen
    07:00 DE Ret Sales Consumer demand
    10:00 EZ FL HICP  ECB target
    12:30  US PCE deflator Fed Target
    13:55  US U Mich final Key Sentiment Survey

    Time  Imp Country Title Cons Last
    29/10/14 11:00 C US WK Mortgage Stats n/a n/a
    29/10/14 14:30 A US EIA Distillate mn n/a 7.1
    29/10/14 14:30 B US EIA Crude mn n/a 1.3
    29/10/14 14:30 B US EIA Gasoline mn n/a 1.05
    29/10/14 14:30 B US EIA Cap Util n/a 0.867
    29/10/14 17:00 A TRY TRY 5-yr n/a n/a
    29/10/14 18:00 A FRB Fed Rates 0.25% 0.25%
    29/10/14 21:00 A NZ RBNZ Cash Rate 3.50% 3.50%
    29/10/14 23:50 A JP Ind Out p yy n/a -3.30%
    30/10/14 0:00 A THURSDAY
    30/10/14 8:00 A CH KOF Ind n/a 99.1
    30/10/14 8:55 A DE unem Kchg 4 12
    30/10/14 8:55 A DE unempl rate 6.70% 6.70%
    30/10/14 10:00 B EZ Cons Conf -11.1 -11.1
    30/10/14 12:30 A US Cont Claims n/a n/a
    30/10/14 12:30 A US Initial Claims 281 283
    30/10/14 12:30 A US GDP 3Q14p 3.00% 4.60%
    30/10/14 14:30 C US Nat Gas bcf n/a 94
    30/10/14 17:00 A TRY TRY 7-yr n/a n/a
    31/10/14 0:00 A FRIDAY
    31/10/14 0:30 A JP Core CPI n/a 2.30%
    31/10/14 0:30 A JP CPI yy n/a 3.30%
    31/10/14 4:30 A JP Bank of Japan 0.10% 0.10%
    31/10/14 7:00 A DE Ret Sales mo -0.90% 3.50%
    31/10/14 7:00 A DE Ret Sales yr 1.20% 0.10%
    31/10/14 10:00 A EZ FL HICP yy 0.40% 0.30%
    31/10/14 10:00 A EZ FL HICP core yy 0.80% 0.80%
    31/10/14 10:00 C EZ Unemployment % 11.50% 11.50%
    31/10/14 12:30 A CA GDP mm n/a 0.00%
    31/10/14 12:30 A US PCE defl y 1.50% 1.50%
    31/10/14 12:30 A US Per Inc n/a n/a
    31/10/14 13:45 A US Chicago PMI 59.5 60.5
    31/10/14 13:55 A US U Mich final 86.4 86.4
    31/10/14 19:30 US COT Report n/a n/a
    01/11/14 1:00 A CN NBS PMI n/a n/a

    calendarBe 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. BlandJohn M. Bland is a founding partner of 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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