Back
15 May 2015
Key events for the end of week - Rabobank
FXStreet (Guatemala) - Analysts at Rabobank noted the end of the week key events ahead.
Key Quotes:
"Today we have trade data from Indonesia, which is likely to continue to see IDR remain soggy (indeed, it has singularly failed to benefit much from the USD weakness to date). In Asia-Pacific we then also have the BOJ’s Kuroda speaking: he still remains remarkably upbeat in his public statements, and seems to be the only one truly convinced that the BOJ is going to hit its 2% CPI inflation target (next year, of course; never this year, as always with central banks of all stripes)."
"Then we are off to the US, where we have a slew of numbers that should help us decide where USD ends the week (if not the month). We have industrial production (consensus 0.0% MoM) and manufacturing production (consensus: 0.2% MoM), where the risks would look to the downside given the lagged impact of the strong USD on exports and the downturn in the shale industry."
"But perhaps more important given the surprising sluggishness in US retail sales this week will be Michigan consumer confidence for May, which is expected to remain unchanged at a strong 95.9."
"It’s ironic that having talked about global/big picture issues we now have to zoom down to what “at least” 500 random individuals across the US (excluding Alaska and Hawaii for some reason) think during a telephone interview – but that’s the magic of financial markets at work."
Key Quotes:
"Today we have trade data from Indonesia, which is likely to continue to see IDR remain soggy (indeed, it has singularly failed to benefit much from the USD weakness to date). In Asia-Pacific we then also have the BOJ’s Kuroda speaking: he still remains remarkably upbeat in his public statements, and seems to be the only one truly convinced that the BOJ is going to hit its 2% CPI inflation target (next year, of course; never this year, as always with central banks of all stripes)."
"Then we are off to the US, where we have a slew of numbers that should help us decide where USD ends the week (if not the month). We have industrial production (consensus 0.0% MoM) and manufacturing production (consensus: 0.2% MoM), where the risks would look to the downside given the lagged impact of the strong USD on exports and the downturn in the shale industry."
"But perhaps more important given the surprising sluggishness in US retail sales this week will be Michigan consumer confidence for May, which is expected to remain unchanged at a strong 95.9."
"It’s ironic that having talked about global/big picture issues we now have to zoom down to what “at least” 500 random individuals across the US (excluding Alaska and Hawaii for some reason) think during a telephone interview – but that’s the magic of financial markets at work."