Major overnight headlines:
– German ZEW Investor Confidence rises to 36.4 in May versus expectations of a rise to 40.0
– EMU industrial output falls 1.7% y/y in March versus a fall of 2.0% expected
– Swedish CPI falls 0.5% y/y in April versus a fall of 0.2% expected
– Japan’s Amari says BoJ to lower JGB volatility, spike in yields could affect budget
– UK RICS house price balance rises to first positive reading since mid-2010, Reuters says
– ECB borrowings of Spanish banks falls to 257.2 billion in April from 260 billion in March
– ECB’s Asmussen says wants “bail-in” instruments available in 2015, Bloomberg reports
– Spanish 1-year bills sold at auction at yield below 1.0% for the first time since 2010, Bloomberg says
– ZEW’s Schroeder says doesn’t see further ECB cuts as helpful, Bloomberg says
Click here to read the full report: FX Daily
BMO