3-16 Economic Calendar
RBA Meeting Minutes
The RBA Meeting Minutes have moved the AUD/USD pair lower by ~ 20 pips as the market remains in a tight range to start the new trading day, early in the Asian session. The details of the minutes are as follows:
- Global growth at ‘reasonable pace’ is the most likely result.
- “Appropriate for rates to gradually move to normal.
- Australia growth may now be ‘at or close to trend.’
- March Minutes show the RBA is ready to respond to other outcomes.
- Mining industry to provide ’significant’ growth boost.
- Europe debt concerns unlikely to impact global growth.
- Europe remains ‘weakest area’ in global economy.
- March increase a ‘timely’ step toward normal rates.
- Main risk from Greek debt problems is contagion.
- Recent economic figures ‘quite firm.’
- Established home market is very ‘buoyant.’
- Underlying inflation falling further in near term.
- Discussed sovereign risk issues associated with Greece.
- Policy decision based on ‘most likely’ outcome.’
Forex Evening Report - March 15
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Forex Midday Report - March 15
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Forex Morning Report - March 15
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Bobbys Corner-Open Market-March.15.2010
Good Morning:
GBP was the main driver in overnight markets as Moody’s warned the UK (and US) of losing their AAA rating, The UK’s political problems and poor UK housing data also contributed to sterling’s woes.
In the Euro Zone, no political decisions have been made regarding an aid package for Greece. Greece has not asked for any direct aid as of yet. The Greek government insists it will work out it’s debt problems themselves. EU ministers begin a 2 day meeting in Brussels today to discuss the Greek debt issue.
World equity markets were mostly lower-and US futures are also pointing to a lower opening this morning.
Commodities were mostly lower-lead by metals. Concerns that China and India may restrict economic growth to curb inflation, lead to the drop.
Oil:$80.79 Gold:$1106.20
| TIME | FOR | EST | PRIOR | |||
| 8:30A.M. | EMPIRE MANUFACTURING | MARCH | 20.OO | 24.9I | ||
| 9:00A.M. | NET LONG TERM TIC FLOWS | JAN. | $63.3B | |||
| 9:00A.M. | TOTAL NET TIC FLOWS | JAN. | $60.9B | |||
| 9:15A.M. | INDUSTRIAL PRODUCTION | FEB. | 0.00% | 0.90% | ||
| 9:15A.M. | CAPACITY UTILIZATION | FEB. | 72.60% | 72.60% | ||
| 1:00P.M. | NAHB HOUSING MARKET INDEX | MARCH | 17.O | 17.O | ||
HAVE A GREAT DAY & GOOD LUCK
Eurozone Employment Change
The eurozone m/m employment change was -0.3% for February; worse than the survey of 0.2% and prior reading of 0.3%. The market had no reaction.
Swiss PPI
Swiss PPI for February came in at -0.3%; worse than it’s forecast of 0.2% and prior reading of 0.3%. The market showed a very limited reaction to the release.
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