Forex Analysis
GBP Mid-day Analysis
The inability to forge a higher high in the Pound hints at a loss of upside momentum.
Central European Daily
Polish political crisis drags on While the koruna and the zloty barely moved on Friday,
Chinese PMI Breaks 50
The Chinese HSBC flash PMI staged a stronger-than-expected pickup to 50.8, the highest in six months and exceeding 50 for the first time in 2014, notes BNP Paribas.
FX Daily
The main focus today is euro PMIs. We expect the manufacturing PMI to declinefurther due to the lagged effect of the global slowdown in Q1.
FI Eye-Opener: Good news from China
German bond yields edged higher on Friday, while longer US yields ended the day slightly down.
AUD/USD Analysis
Aussie spent a quiet first few hours of the session holding between $0.9375 and $0.9392 after it had opened at $0.9373 this morning.
GBP/USD Analysis
The pair closed in NY Friday at $1.7013 after rate had seen extended recovery highs of $1.7061 (Thu Jun19 high $1.7064) before rate squeezed back to $1.7003 on end of week profit take covering.
EUR/USD Analysis
It’s been a relatively muted start to the week for the euro this morning as it opened at $1.3592 after Friday’s $1.3565 to $1.3598 US trading range.
USD/JPY Analysis
The pair opened at Y102.11 after it ended on Friday at Y102.08 and then extended the early highs to Y102.14.
Weekly Leveraged Funds Positioning Data
Net EUR position stayed relatively constant for the first time since the start of May when the ECB President hinted of a rate cut that materialised in the 5 June ECB meeting.
Weekly Forex & Interest Rate Outlook
NZD/USD Outlook: Up this week This month’s hawkish surprise from the RBNZ should keep the market in
Where are we?
A light period for new data is an appropriate time to take stock of where the economy is at. Short answer is that the pace appears to be coming out of the interest rate sensitive consumer.