1 May 2014
Ears on Yellen – Rabobank
FXStreet (Guatemala) - Strategists at Rabobank give us the key events coming up which for today and Yellen is going to be of much interest.
Key Quotes:
“Today has UK consumer borrowing data for March. Consensus is that net consumer credit will increase GBP0.6bn, as it did the previous month, while mortgage approvals will increase from 70.3K to 72.0K – though this is ahead of tighter regulations on the mortgage market that are due to come into force soon. We also get the UK manufacturing PMI, which is seen little changed at 55.4 in the month”.
“Much of Europe is closed for the May Day holiday, which may well see the usual protests in some city centres”.
“In the US the first point of focus is Fed Chair Yellen, speaking in Washington. There have been a few slight missteps from her on the communications front in the very early part of her term, and the market will be keen to hear what she has to say”.
“Following that we the March reading of personal income and spending, with the former seen up 0.4% MoM and the latter 0.6%. Furthermore, there are the final US Markit manufacturing PMI (consensus 55.4) and then the actual ISM manufacturing survey (consensus 54.3) back-to-back”.
Key Quotes:
“Today has UK consumer borrowing data for March. Consensus is that net consumer credit will increase GBP0.6bn, as it did the previous month, while mortgage approvals will increase from 70.3K to 72.0K – though this is ahead of tighter regulations on the mortgage market that are due to come into force soon. We also get the UK manufacturing PMI, which is seen little changed at 55.4 in the month”.
“Much of Europe is closed for the May Day holiday, which may well see the usual protests in some city centres”.
“In the US the first point of focus is Fed Chair Yellen, speaking in Washington. There have been a few slight missteps from her on the communications front in the very early part of her term, and the market will be keen to hear what she has to say”.
“Following that we the March reading of personal income and spending, with the former seen up 0.4% MoM and the latter 0.6%. Furthermore, there are the final US Markit manufacturing PMI (consensus 55.4) and then the actual ISM manufacturing survey (consensus 54.3) back-to-back”.