Forex Analysis
JPY Mid-day Analysis
A decline below a critical moving average and an additional downside extension overnight leaves the bearcamp in firm control.
USD Mid-day Analysis
The Dollar enters the Wednesday trade sitting just under its recent highs and poised to encounter asignificant wave of economic information.
CAD Mid-day Analysis
Apparently record high Canadian auto sales in May were of little interest to the Canadiantrade, as the June Canadian initially forged a fresh lower low for the move overnight.
GBP Mid-day Analysis
The Pound initially ranged downward overnight and managed that slide in the face of data that mighthave been considered supportive.
Credit Agricole: We Stay AUD Long
The AUD has been stable of late, mainly due to the RBA keeping investors’ rate expectations stable.
Don’t Fret About SNB Floor
What can the SNB do if the ECB cuts rates on Thursday? Assuming the floor stays inplace there are three possibilities:
The Global Macro Pulse
The USD gathered strength in Asia trading, supported by higher US yields overnight. The 10y US Treasury yield retraced very marginally to 2.586% but still net 6.5bps higher than yesterday’s open.
AUD/USD Analysis
Aussie had a mixed day Wednesday with much of the positive coming from the stronger than expected Q1 GDP data, which came in at +1.1% qoq and +3.5% yoy.
FX Daily
The Spanish and Italian May service PMIs are due for release. The Spanish figureincreased to 56.5 in April, which is the highest print since the beginning of 2007.
FI Eye-Opener: Increasingly hard to dismiss deflation risks
Bonds continued to take a hit yesterday on both sides of the Atlantic and curves bear-steepened. The German 10-year yield leaped by some 4bp,
EUR/USD Analysis
The pair started at $1.3628 in Asia Wednesday, the rate slid to an initial low of $1.3618 from an early daily high of $1.3630 while dollar-yen takes centre stage during Asia session.