Forex Market
Behavioral Finance: Daily Forex Outlook: Will US be another headwind for global growth?
EUR/USD (1.3760) The formation of technocratic governments in Italy and Greece, and the improved prospect of the financial stability law being passed in Italy have more or less given the impression to the market that near-term the European crisis may still be contained.
Behavioral Finance: Daily Forex Outlook: How to stop the vicious cycle?
EUR/USD (1.3545) Scores of economic commentators including Krugman, Nouriel and Wolf are thinking aloud about what the latter calls the ‘unthinkable’: the break-up of the eurozone.
Behavioral Finance: Daily Forex Outlook: Italy’s perception problem
EUR/USD (1.3545) The above seven per cent yields on the Italian 10 year bonds are essentially being seen as the main gauge by the markets for the eurozone crisis.
Behavioral Finance: Daily Forex Outlook: Contrasting views on the eurozone
EUR/USD (1.3825) The Italian PM Berlusconi has agreed to resign as soon as the Parliament passes the austerity measures pledged to the EU.
UniCredit EEMEA Daily
News CZ: Negative – Sept retail sales dip 0.5% yoy (p2) LT: Positive – Govt launches 10Y Eurobonds tap / Oct CPI comes in at 4.2% yoy (p2) LV: Neutral – IMF and Government hold talks on fiscal consolidation in 2012 / Oct CPI comes in at 4.4% yoy (p2)
FX DAILY STRATEGIST: Asia – 09 November 2011
Berlusconi promise to resign; markets give one cheer but pressure unlikely to come off BTPs In the wake of the approval of the 2010 Italian budget report but without a majority of Italian MPs supporting the motion due to the number of abstentions, the euro bounced after President Napolitano announced that PM Berlusconi has offered […]
What matters today (Asia edition)
Developed macro 1. French government announced additional austerity measures aimed at bringing EUR17.4Bn in the period until 2016, from which EUR7Bn as soon as in 2012. 2. Italian government faces an important technical vote on 2010 Budget today.
“Bits” Mon: Unity Govt for Greece, Another 2011 G20 Meeting?, European and US Views, German Tax Cut, Wen on Property and More…
Last (%ch) S&P Fut: 1249.2 (-.15%) O:1255 H:1259 L:1246.8 Fri S&P: 1253.1 (-.6%) O:1260.8 H:1260.8 L:1238.9 UST yld (12hr bps ch): 2y 0.22% (0.00) 10y 2.06% (0.03) 30y 3.12% (-0.03)
What matters today (Asia edition)
Developed macro 1. Eurozone politics continue to dominate. The new coalition government will buy Greece more time, but political risks are still running high. 2. The other focal point is Italy where the shaky government faces bond issuance and a new vote on the 2010 budget this week – according to most observers, it may […]
UniCredit EEMEA Daily
News CZ: Neutral – CNB keeps monetary policy unchanged, forecasts lower GDP growth (p2) PL: Positive – MinFin says it financed 101% of 2011 financing needs in Jan-Oct (p2) RO: Positive – MinFin sells RON 0.5bn 2Y GBs: avg yield at 7.23%, bid-to-cover at 3.7 9 (p2) / Negative – banking system returns to losses […]
Behavioral Finance: Daily Forex Outlook: Economics trumps public relations at the ECB
EUR/USD (1.3815) Forecasters largely failed to predict an ECB rate cut yesterday, but not for economic reasons.
Australia: RBA Statement on Monetary Policy (SoMP) – Growth forecasts appear optimistic if commodity prices continue their decline
Background: Given the change in policy direction delivered on Tuesday, today’s SoMP from the Reserve Bank of Australia is likely to attract a greater than normal level of attention.