Forex Calendar

FI Eye-Opener: Draghi’s words poison for equities

European equity prices plunged yesterday, as Draghi’s message did not sound as dovish as many were hoping.

The pressure is on for today’s press conference by President Draghi and Friday’s nonfarm payrolls release.

The forint extends its gains despite sell-off in EM’s world The Hungarian forint has continued to strengthen and keeps its bullish sentiment.

FX markets have been all about a USD squeeze. EURUSD popped up to 1.2662,

The main event will be the press conference following the ECB meeting.

A huge bond rally took place yesterday, especially in the US, with curves bull-flattening and equities taking a beating.

Regional PMIs surprise on the upside The Russian ruble hits record low Purchasing Manager’s Indices surprised positively in Hungary

AUDUSD underperformed, dropping to 0.8680 before finding support.

In the US focus turns to ISM manufacturing for September.

German bonds continued to rally yesterday, with the 10-year yield down another 2bp.

The USD rally continues as EUR breaks towards 1.2600 and the DXY index breaks up to a four‐year high and above 86.00.

German retail sales and French consumer spending figures are due for release thismorning.