US Dollar To Take Data Over Date At Mid-Point

It's a "green" day and it's not even for St Patrick. Global bourses are ending this month, this quarter and half-year in the green after some soft US data and comforting comments from a few Fed officials. Policy maker's rhetoric have helped calm the markets a tad, allowing local currency yields to back off from their highs and the dollar to retreat against some of its major and emerging rivals. However, the perseverance of this calm will be data dependent. Market focus is now turning towards next weeks US job numbers - a strong US payrolls number next Friday could easily send markets back into panicked position reduction, in other words another tailspin.

The Fed has been telling us and we have just not heard or worse, chosen not to hear. Prior, during and now amongst the re-leveling or calibration of domestic and global interest rates, Fed officials continue to caution capital markets that "tapering is still data-dependent" and that it "does not affect the more distant...