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27 Jun 2013
Flash: Currency markets eye US jobs data later today – NAB
FXstreet.com (New York) - According to the NAB Research Team, “JPY FX traders will take some note of latest weekly Japanese portfolio flow data released by the MoF, with Yen bears searching for evidence that Japanese investors are showing increased appetite for overseas bonds.”
Indeed, plenty of US data interest later today though, the highlight of which could be the May readings on personal income, spending and the ‘PCE deflator’. The core PCE deflator reading in April at 1.05% was the lowest in recorded history, and is the key reason for St. Louis Fed President James Bullard’s dissent against the FOMC consensus last week to signal the intention to begin dialing back on QE bond buying if the economy performs in line with FOMC central forecast in coming months. Further slippage here - consensus is 1.1% (rounded) - would give his protestations added credibility.
Also of interest will be latest weekly jobless claims (last at 354k, expected 345k) and pending home sales (seen +1.0% on the month after 0.3% in April). Highlight of the European calendar should be the June Eurozone business climate and industrial, services and consumer sentiment surveys.
Indeed, plenty of US data interest later today though, the highlight of which could be the May readings on personal income, spending and the ‘PCE deflator’. The core PCE deflator reading in April at 1.05% was the lowest in recorded history, and is the key reason for St. Louis Fed President James Bullard’s dissent against the FOMC consensus last week to signal the intention to begin dialing back on QE bond buying if the economy performs in line with FOMC central forecast in coming months. Further slippage here - consensus is 1.1% (rounded) - would give his protestations added credibility.
Also of interest will be latest weekly jobless claims (last at 354k, expected 345k) and pending home sales (seen +1.0% on the month after 0.3% in April). Highlight of the European calendar should be the June Eurozone business climate and industrial, services and consumer sentiment surveys.