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5 Mar 2014
Flash: The day ahead is packed - Rabobank
FXStreet (Guatemala) - Analysts at Rabobank noted the events to watch for the day ahead in the FX space.
Key Quotes:
“We will see the HSBC/Markit Services PMI for China for February: the official measure is now at 55.0, whereas this series was at 50.7 last month – the key questions are “will we see a rise today?” and “which one of the two is capturing the real economy better”?”
“Later on we also see Eurozone final services PMIs – the Eurozone measure is seen unchanged at 51.7. That is followed by Eurozone retail sales (seen up 0.8% MoM but -0.2% YoY) and the first reading of Q4 Eurozone GDP, where consensus is 0.3% QoQ and 0.5% YoY – a recovery, yes, but a weak one.”
“The UK also has its own services PMI for February, expected to edge down slightly from 58.3 to 58.0”.
“In the US we get ADP employment, the warm up act for payrolls on Friday. We also get the Fed’s Beige Book and the ISM non-manufacturing survey to complete the set: it is seen slightly lower at 53.5. Additionally we hear from Bernanke again twice. (How much he is being paid for those two further speeches - at a leadership conference and a global financial markets forum, respectively - is not being disclosed)”.
Key Quotes:
“We will see the HSBC/Markit Services PMI for China for February: the official measure is now at 55.0, whereas this series was at 50.7 last month – the key questions are “will we see a rise today?” and “which one of the two is capturing the real economy better”?”
“Later on we also see Eurozone final services PMIs – the Eurozone measure is seen unchanged at 51.7. That is followed by Eurozone retail sales (seen up 0.8% MoM but -0.2% YoY) and the first reading of Q4 Eurozone GDP, where consensus is 0.3% QoQ and 0.5% YoY – a recovery, yes, but a weak one.”
“The UK also has its own services PMI for February, expected to edge down slightly from 58.3 to 58.0”.
“In the US we get ADP employment, the warm up act for payrolls on Friday. We also get the Fed’s Beige Book and the ISM non-manufacturing survey to complete the set: it is seen slightly lower at 53.5. Additionally we hear from Bernanke again twice. (How much he is being paid for those two further speeches - at a leadership conference and a global financial markets forum, respectively - is not being disclosed)”.