Forex Calendar
Central European Daily
CE currencies strengthen ahead of ECB meeting Macroeconomic fundamentals remain supportive Yesterday Hungarian and Czech data confirmed that the CE region is recovering.
The Global Macro Pulse
EURUSD and EUR crosses came under moderate pressures. EURUSD traded just below 1.36; EURGBP, EURSEK and EURNOK were also slightly lower.
FI Eye-Opener: You better not be bluffing, ECB
Longer German bond yields continued to rise yesterday and the curve steepened some more.
UBS Morning Adviser
Draghi’s words always do the damage, so position accordingly The ECB decision today is perhaps the most-scrutinised in nearly two years as negative rates are expected.
FX Daily
Today’s ECB meeting will be the main attraction. We expect the ECB to deliver anaggressive easing move by cutting the refi and deposit rates, taking the latter intonegative territory.
ECB has the potential to surprise
Market movers ahead • Lower inflation in the euro area has also strengthened our expectations that the ECB will deliver an aggressive easing move at Thursday’s meeting.
Daily FX Update
Entering the second half of the week, FX markets are trading in narrow ranges as looming risk of central bank meetings and nonfarm payrolls looms.
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.
UBS Morning Adviser
Is additional US outperformance needed for CAD shorts to work? Having passed up multiple opportunities to talk down the Canadian dollar in statements and
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,
Daily FX Update
Building disinflationary pressures in Europe, confusing data releases from the U.S., climbing house prices in the UK,