Forex Calendar
Central European Daily
Hungarian bond yields fall to record low NBP unlikely to surprise markets A lower than expected Polish PMI did not affect the market.
The Global Macro Pulse
After opening up, most USD-Asia pairs are close to flat today with the exception of the THB which rallied down to 32.72.
UBS Morning Adviser
Should central banks pay more than lip service to domestic rebalancing? The RBA decision overnight probably lacked the suspense of the ECB.
FX Daily
The most interesting data release today is euro-zone inflation in May, which weexpect will decline back to this cycle-low of 0.5% y/y from 0.7% y/y in April.
FI Eye-Opener: The truth is out there – finally
Bond yields rose yesterday and curves steepened, modestly in German yields but more so in the US. The US 10-year yield leaped 5bp, bringing the yield back to above 2.50% (but only to levels seen early last week).
Weekly Commentary
While the New Zealand economy started the year at a rollingboil, it now appears to have slowed to a steady simmer.Even so, we think that markets are overestimating whatrecent developments means for interest rates.
Daily FX Update
An expansionary and stronger than expected Chinese PMI of 50.8 has done little to support currencies; with the USD broadly stronger.
The Global Macro Pulse
Although EURUSD is flat at 1.3627, weak building approvals data helped push AUDUSD down to 0.9265 and USDJPY pushed up to 102.03.
UBS Morning Adviser
Euro weakness or dollar strength? With the ECB likely to ease again on Thursday,
FX Daily
Although the market probably has its eyes on Thursday’s ECB meeting and Friday’sUS job report, the first day of the week is loaded with interesting key figure releases.
FI Eye-Opener: Huge week ahead
The week starts with good news from China, as the official PMI rose to 50.8 in May (from 50.4 in April). The report showed a braod-based recovery in manufacturing activity.
Scandi markets ahead: ECB also takes centre stage in Scandi markets
The week in Sweden kicks off early Monday morning with a speech from theRiksbank’s Jansson and shortly after that, May PMI is set to be released. We estimatethe PMI has slowed somewhat.