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17 Feb 2014
Flash: Quiet before the storm - TDS
FXStreet (Guatemala) - Research teams at TD Securities noted that it has been a very quiet overnight session, with UK markets a little lighter than usual during the half-term holiday, and Canada and US closed for holidays. Equities took their cues from North American market action on Friday, as stock markets in Asia and Europe gained further ground, while the USD erased most of its losses from the Asian session. The rest of the day is expected to be very quiet.
The data calendar picks up later this week though.
Key Quotes:
"...particularly in the UK with CPI on Tues (expected to remain unchanged on top of the BoE’s target at 2.0% Y/Y) , unemployment data on Wed (we look for a 7.0% u-rate, slightly better than mkt 7.1%), and retail sales on Fri (we look for a smaller pullback than mkt –1.2%, but will finalize our forecast after CPI)".
" In the rest of the world we have Eurozone Flash PMIs on Thursday (we look for Germany to pull further ahead of France), the Chinese HSBC PMI also on Thursday, as well as FOMC minutes on Wed".
The data calendar picks up later this week though.
Key Quotes:
"...particularly in the UK with CPI on Tues (expected to remain unchanged on top of the BoE’s target at 2.0% Y/Y) , unemployment data on Wed (we look for a 7.0% u-rate, slightly better than mkt 7.1%), and retail sales on Fri (we look for a smaller pullback than mkt –1.2%, but will finalize our forecast after CPI)".
" In the rest of the world we have Eurozone Flash PMIs on Thursday (we look for Germany to pull further ahead of France), the Chinese HSBC PMI also on Thursday, as well as FOMC minutes on Wed".