Forex Calendar

FI Eye-Opener: Higher yields but only for a while

Core bond yields continued to head higher yesterday, modestly in the Euro area, more so in the US.

Markets are mixed into the open with higher equity markets, lower bond yields and a generally strong USD.

Better than expected PMI supported CEE currencies. Russian ruble hit new all time low.

AUDUSD has bounced slightly from 0.8480 to 0.8520 following the RBA meeting.

In Europe the only notable releases are Construction PMI for November in the UK and

Core bond yields finally rebounded higher yesterday, as did the oil price.

Markets are entering December on a cautious tone. China’s PMI provided little comfort,

Regional PMIs stay surprisingly strong in November Fitch affirms Hungary’s sovereign ratings.

With the exception of the EUR, the USD has appreciated across the board.

In Europe focus will be on the manufacturing PMIs for November.

German bond yields ended Friday largely flat, but US Treasuries rallied in earnest.

The past two weeks have seen NZD/USD rangebound with a slight downward drift.