What’s coming up in the week ahead The second week of the month is always a let-down from the excitement of Week 1 on the economic calendar but there are still a few highlights before start in two weeks.
Seemed like only yesterday… Although it seems like only yesterday, the buzz about earnings will start soon with the banks leading the way next week. Of course the earnings can cause some volatility in stocks which can run over into the flights into and out of safety of the USD and/or bonds.
Drill baby drill Shale activity continues to ramp up but it has hardly dented oil. WTI was lower earlier today at $72.14 but has rebounded to $73.77.
Where markets are headed next I spoke with Dale Pinkert at Forex Analytix today about seasonals and where markets are headed. ForexLive
The long end sinks lower Barring a big turnaround today, the close in the 30-year bond will mark the lowest yield since January. It’s a message to the Fed that the inflation it’s worried about isn’t coming. It’s a sign that the Fed doesn’t need to worry about raising rates quickly and that it might…
Back into the neutral area… The EURUSD has backed off a bit as London/European traders head for the exits. France advanced. There is enough time to get home, head to the pub and watch Brazil vs Belgium in the 2nd game of today’s quarterfinal double header.
Brazil vs Belgium is the next match today. Brazil vs. Belgium will be the 2nd quarterfinal game today. It will start at 2PM ET/1800 GMT.
Closing changes for the main European bourses On the week: German stocks would still need to gain more than 8% to recover to the highs from the start of the year.
Still 1% below the Atlanta Fed The NY Fed is out with their weekly model estimate,and for the current week, they show no change. They continue to see 2Q GDP at 2.8% (2.79% rounded higher).
NZD/USD was the top performer this week The New Zealand dollar tumbled to a two year low on Monday but followed that with a four-day rally. It made NZD/USD the best-performing trade this week, with a 0.98% gain.