Forex Calendar

Australian Markets Weekly – Q1 GDP likely OK, now re-focus on the consumer

This week the key focus is the RBA, GDP and retail sales. Last week’s Q1 investment partials were uneven, but not as bad as feared.

The Week Ahead in FX

In the week ahead, investors will be looking to Friday’s U.S. nonfarm payrolls report for May for further indications on the strength of the labor market,

Weekly Economic & Financial Commentary

U.S. Review Economy Contracts in Q1, Stronger Growth Ahead • Revised Q1 GDP figures showed that the economy contracted 1.0 percent,

Daily FX Update

Bond markets remain the core focus into the weekend. The U.S. 10‐year yield is trading at 2.47%. Today’s release of the PCE deflator will provide important clues in judging inflation and

The Global Macro Pulse

NZD led rallies in G10 FX, supported by strong building permits. NZDUSD rebounded to 0.850 from a two-month low of 0.845. AUD rose to 0.932 but AUDNZD is still marginally lower at 1.096.

A bunch of US key figures are on the calendar for today. We expect a slight setbackin personal income and personal spending growth in line with the market’sexpectation and unchanged PCE core inflation.

UBS Morning Adviser

Without robust growth, portfolio flows will be stagnant Ongoing Bank of Canada accommodation has driven CAD underperformance this year.

FI Eye-Opener: Bonds still in demand for a while

Core bonds continued to rally hard on Wednesday, and the rally initially continued yesterday, before yields rebounded. The US 10-year yield touched 2.40% yesterday, before rebounding to around 2.47% currently.

Daily FX Update

The bond market is telling an important story. Yesterday the U.S. 10-year yield collapsed and there has been follow through today, with it moving into the open at an 11-month low of 2.42%.

The Global Macro Pulse

AUDUSD rallied to 0.9276 in response to a better-than-expected capex survey. EURUSD traded to a low of 1.3589 before recovering to 1.3607 while USDJPY dipped to 101.69.

UBS Morning Adviser

April’s consumer price data will be released in Japan on Friday This will be the first release of national CPI following the country’s sales tax rise.

Daily FX Update

Globally, bond yields are lower with the U.S. 10‐year entering the NA session at 2.50%, flirting with its May 15th low of 2.47%.