Markets are digesting several important developments, including a cease fire in Ukraine, the breakdown of talks over Greece, the introduction of negative interest rates and QE in Sweden, a more hawkish than expected BoE Inflation report in the U.K. and XXXX. In this environment, risk measures have dritied lower, equities are higher, the U.S. 10-year yield is stable at 2% and the USD is mixed. Today there are no Fed speakers with retail sales the focus, expected to drop to –0.4%m/m and –0.5%m/m ex auto, dragged lower by gasoline sales.
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