Comments made by New York Fed President William Dudley to the effect that bond purchases may be sped up in the event of an economic slowdown were well received on markets, leading observers to believe that the reaction by bond markets in recent weeks has been overblown. Comments from several other Fed officials will have to be carefully scrutinized today, and will have a significant impact on markets.
Positive manufacturing output figures, strong retail sales and higher-than-anticipated inflation in Japan lead us to believe that the hyper-aggressive economic stimulus program adopted by Prime Minister Shinzo Abe is bearing fruit. This is weighing down the yen, which has dipped slightly today and has lost 27% since September 30.
In economic news, Canadian GDP numbers, the University of Michigan Consumer Sentiment Index and the Chicago Purchasing Managers Index will be released this morning. It's shaping up to be a volatile day. Enjoy the long weekend. Emmanuel Tessier-Fleury
Range of the day: 1.0440 – 1.0535
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NBC Daily Forex : June 28, 2013
Published 06/30/2013, 04:50 AM
Updated 05/14/2017, 06:45 AM
NBC Daily Forex : June 28, 2013
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