Hirose News|February 9, 2015 9:02 AM

Announcements that may impact the markets this week

Big news for this week!

Below are some announcements that may impact the markets this week:

(All Times are in GMT)

News Event Analysis

The Tertiary Industry Index in Japan(Feb 09 23:50 GMT) indicates how well the domestic service sector (IT, utilities, wholesale and retail trade, finance and welfare).  Because the Japanese economy relies upon exports this news event does not generally have a major impact on JPY.  A high reading is bullish for the JPY and a negative reading is seen as negative.


Market News 

After an initial positive response to the recent meetings between Greek and European officials there is now a certain heaviness to the talks after Yanis Varoufakis got a colder response from Germany.  It was also reported that the ECB will not allow Athens to use the central bank's balance sheet as a bridging loan.  The clock is ticking!

The Non Farm Payroll numbers came out today at 257,000, much better than expected, which saw the USD rally across the board.  The USDJPY spiked up significantly and trading at 118.80 at the time of writing.  Both EURUSD and GBPUSD fell significantly, wrong footing many pundits.

There is likely to be more volatility with the Euro and leaders meet President Putin to thrash out the Ukraine situation.  Strong rumblings from the USA have heightened the potential risks for escalating the conflict.There was some interesting data coming out of Japan last night with unemployment falling to 3.4% (not seen since 1997) and CPI coming in at better or consensus levels.  The general feeling is that the economy still seems to be struggling with the consumption tax hike, with consumer spending and inflation coming in under target.

Meanwhile in Athens there has been a capital fight and bank stocks have been hit hard after the election.  Hugely significant meetings are taking place as the Greek government prepares to renegotiate its debt. The will be volatility in the Euro until major decisions are made.




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The Hirose UK Team