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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.
HIROSE News
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