The Fright Subsides, Eyes Back on Japan
After four months of exuberance markets had had a few hours of pure fright on Thursday but the near-panic that gripped Japan never spread beyond its borders. The dollar and yen have drifted lower as fears subside. DRAGHI'S speech hailed the effectiveness of the bond buy program on the market but remained concerned with the macroeconomic weakness in the periphery. There were no refefences to interest rates. BOJ Governor Kuroda speaks in the upcoming session when all eyes will be fixed on Japanese markets. Added 1 USDJPY, 2 New EURJPY, 1 new USDCAD and moved the stops and targets in both of our existing EURUSD trades ahead of tomorrow's release of German Q1 GDP and IFO. All of this and the silver as well as the Aussie trades are in the latest Premium Insights.
Act | Exp | Prev | GMT |
---|---|---|---|
GDP s.a (Q1) (q/q) | |||
0.1% | -0.6% | May 24 6:00 | |
GDP n.s.a (Q1) (y/y) | |||
-1.4% | 0.1% | May 24 6:00 | |
GDP w.d.a (Q1) (y/y) | |||
-0.2% | 0.4% | May 24 6:00 | |
Markit US PMI Preliminary (MAY) | |||
51.9 | 51.2 | 52.1 | May 23 12:58 |
Flash Manufacturing PMI | |||
51.9 | 51.6 | 52.1 | May 23 13:00 |
Flash PMI Manufacturing | |||
49.0 | 48.6 | 48.1 | May 23 7:30 |
Continuing Jobless Claims (MAY 11) | |||
2.912M | 3.000M | 3.024M | May 23 12:30 |
Initial Jobless Claims (MAY 17) | |||
340K | 345K | 363K | May 23 12:30 |
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