24 Jun 2013
Flash: The week ahead is quieter – TD Securities
FXstreet.com (London) - Richard Kelly, Head of European Research said that, thankfully, the week ahead looks quieter on the data front.
He noted that the IFO was close to expectations, with mild disappointment on the current sentiment but better expectations, while the Hungarian rate decision on Tuesday remains 50/50 between cut or on hold due to the market volatility. He explains that the US durable goods and Conference Board Consumer Confidence are the US data highlights this week, where we see the risks skewed to the downside overall, though headline durable goods will likely beat expectations on aircraft orders. Likely more importantly, he say’s, will be the slew of Fed speakers on tap to explain their message, starting with Fisher today at 1pm EST. If the market got the message wrong, and assuming the markets wants to get the message right, he say’s FOMC members will have plenty of time to explain themselves more fully this week without pesky data releases getting in the way.
He noted that the IFO was close to expectations, with mild disappointment on the current sentiment but better expectations, while the Hungarian rate decision on Tuesday remains 50/50 between cut or on hold due to the market volatility. He explains that the US durable goods and Conference Board Consumer Confidence are the US data highlights this week, where we see the risks skewed to the downside overall, though headline durable goods will likely beat expectations on aircraft orders. Likely more importantly, he say’s, will be the slew of Fed speakers on tap to explain their message, starting with Fisher today at 1pm EST. If the market got the message wrong, and assuming the markets wants to get the message right, he say’s FOMC members will have plenty of time to explain themselves more fully this week without pesky data releases getting in the way.