Forex Analysis
Central European Daily
NBP’s affair hurts the zloty The Polish zloty has been under pressure in today´s early trading.
Kiwi after the RBNZ
RBNZ’s tightening cycle well underway The RBNZ struck a hawkish note in last week’s monetary policy statement as it raised interest rates by 25 bps.
The Global Macro Pulse
The Nikkei fell 0.7% while S&P futures are off just under 0.4% and the US 10yr Treasury yield is down a bit over 1bp to 2.584%, close to its New York lows.
FI Eye-Opener: Negative overnight rates around the corner
German bonds continued to perform on Friday, and the curve bull-flattened, while US yields edged slightly up. Intra-Euro-zone spreads narrowed mostly, but the moves were not huge.
AUD/USD Analysis
Aussie started at $0.9395 this morning and briefly went up to $0.9405 but the early risk-averse environment then pushed the rate through $0.9400 back to $0.9395.
FX Daily
Focus this week will be on the FOMC meeting on Wednesday. The markets will belooking for signals as to the timing of the first rate hike,
EUR/USD Analysis
The pair opened at $1.3537 this morning in Asia, after a $1.3521 to $1.3547 range on Friday in the US.
Scandi markets ahead: Norges Bank meeting in Focus
The main Swedish event is NIER’s consumer and business confidence surveys. Wedon’t expect any major leaps in the data and some small improvement is even in theoffing (given the main components in PMI).
GBP/USD Analysis
The pair closed in NY Friday at $1.6970, euro-sterling at stg0.7977. Cable found support in the dip from leveraged names as it recovered off pullback lows
USD/JPY Analysis
JPY enjoyed early gains this morning, thanks to worries about deteriorating security conditions in Iraq and Ukraine, while concerns about commodity prices also weighed on yen crosses.
Leveraged Funds’ Bet Against EUR Highest Since May 2013
The following are the key points in ANZ’s analysis for the latest speculative positioning report (positioning data is for the week ending 10 June.
Australian Markets Weekly – Still the same labour market spare capacity
Latest labour market instalment saw job creation stall but the unemployment rate steady at 5.8%; the rate should always be the focus.