The Ukraine and Yellen Dominate HeadlinesFebruary 27, 2014 Posted by: Joe O'Leary
The situation in the Ukraine ramped up risk aversion again this morning after a pro- Russian group took control of the government building in the Crimea region. There are reports Russia put fighter jets on alert. The Ukraine’s currency responded by tumbling to a record low. The safe haven Yen traded stronger, the Swiss Franc rallied vs. the Euro and stocks in Europe sold off as Russia put fighter jets on alert. The AUD is weaker as data showed business investment declined more than expected. Fed Chair Yellen testifies to the Senate Banking Committee this morning and may provide some interesting comments.
• US Jan Durables Goods improved to -1.0% from -5.3% revised lower from -4.2% in Dec and Ex Transportation rose to 1.1% from -1.3% revised lower to -1.9%.
• Swiss Q4 GDP rose 0.2% q/q after 0.5% in Q3 and declined to 1.7% y/y from 2.1%.
• US Initial jobless claims rose 14k to 348k (median 335k) for the week-ended February 22.
• Canada's current account deficit widened to -C$16.0 bln in Q4, better than expected.
• Eurozone economic confidence stronger than expected at 101.2, while January was revised up to 101.0 from 100.0 reported initially.
02/28 EUR: Consumer Price Index (Feb.)
02/28 USD: GDP, 2nd release (Q4)
02/28 CAD: GDP YOY (Dec.)
02/28 USD: University of Michigan confidence. (Feb.)
03/03 GBP: PMI Manufacturing (Feb)
03/03 USD: ISM Manufacturing (Jan)
03/05 EUR: GDP (Q4)
03/05 USD: MBA Mortgage Applications (Feb 28)
03/05 USD: ISM Non-Manufacturing Composite
2 Year 0.32
5 Year 1.49
10 Year 2.65
30 Year 3.60Read More