Developed macro
1. Market found some relief on the lack of specific negative news
2. Today, the Troika is returning to Greece. Meanwhile, EU Commissioner Rehn is addressing the European Parliament committee on Eurobonds.
3. Sharp deceleration is expected in Norwegian CPI inflation
Interest rate strategy
1. Austrian (5Y and 10Y), Dutch (3Y) and US (3Y) auctions today
2. ECB’s usual two-way cash flow operations; with the MRO along with the SMP sterilisation being carried out
FX strategy
1. USD: Reserve characteristics enhanced by recent data.
2. CHF: Replacement of Hildebrand unlikely to deter SNB policy gamble.
3. Technicals: EUR/GBP trending lower, but looking oversold short-term
Emerging markets
1. Narrowing Chinese trade surplus caps short-term upside for CNY
2. Philippines exports to contract at a slower pace, Malaysian industrial production to accelerate and South Korean unemployment to edge up
3. Mexican IGAE to reflect solid growth in Q4 2011
Click here to read the full report:
http://www.easyforexnews.net/wp-content/uploads/2012/01/WMT_2012-01-10.pdf
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