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27.03.15

USD: Yellen speech today is on monetary policy and she is taking questions (15:45EST). As such, the potential for market sensitive comments in both the speech and Q&A session where she is likely to be asked about the USD strength and the implication of lower NAIRU is high. It is doubtful that a major deviation from the tone of last week’s FOMC meeting will be seen, but this event likely will generate some more volatility. Final Q4 GDP print (2.4% e, 2.2% p, 2.3% Citi) and final U. Michigan (92.0 e, 91.2 p, 91.0 Citi) will also be on the agenda this morning.

EUR: With investors still approaching FX defensively, the improved data flow could see more investors asking if we’re putting in a near-term base. Greece still bubbling away under the surface, but more secondary driver to posiitioning. The next key date will be Monday as a new reform package will be presented by Greece to its Eurozone partners.

GBP: Cameron...

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26.03.15

USD: USD continues consolidation overnight after the soft durable goods .Today we have jobless claims (290k est.), Markit PMI (57 est.) and Kansas Fed (1 est.). Lockhart will speak on economy at 09:00EST, but Yellen tomorrow more in focus. The potential for market sensitive comments in both the speech and Q&A session where she is likely to be asked about the impact of USD strength is...

24.03.15

USD: Fischer comments not as dovish as response suggested, but the bigger issue may be that the market still needs to work through long-USD positioning. Further profit taking and reversal could leave USD vulnerable in the days ahead. This means today’s CPI poses downside risk with disappointment. Consensus is for a pick-up in headline to 0.2%, while core is expected to moderate to 0.1%....

23.03.15

USD: Fed speakers dominate a light data week, with CPI tomorrow a main pivot. Data released this week should continue to be affected by February weakness. Remarks from Vice-Chairman Fischer today the most focus, although Mester and Williams are also speaking. Key Fischer focus will be how much room he leaves open for June. Continued dovishness is likely to be associated with USD-negative...

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Format: 28/03/2015
Format: 28/03/2015

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