Forex News
The RBI announces further measures to support the INR
– Antipodeans and INR lead rally vs the USD, Asian equities mixed – RBI announces further measures to support the INR – A weaker German Ifo likely to weigh on the EUR
UniCredit EEMEA Daily
News KZ: Positive – Fitch Ratings has upgraded Kazakhstan’s long-term foreign and local currency issuer default ratings (p2) LN: Neutral – IMF publishes the Staff Report for Article IV Consultation (p2) PL: Negative – Oct IP growth decelerates to 6.5% yoy / Oct PPI accelerates to 8.5% yoy (p2) RO: Negative – Govt. sells 9M […]
The Central Bank is around the corner
EUR-PLN continues to climb along the 50 DMA trend line. The cross is now approaching the key level of 4.50. The central bank is probably around the corner. MPC member Andrzej Kazmierczak created some confusion yesterday by saying that the PLN is more likely to depreciate than appreciate.
US Super committee and its super failure
After a few months of negotiations the debt super committee delivered its own turkey for the upcoming holiday season. The committee failed in its efforts to agree to reduce the deficit by at least $1.2tn. As a result, $1.2tn in automatic spending cuts kick in starting in 2013 through 2021.
What matters today (Asia edition)
Developed macro 1. Investors’ sentiment towards European assets remains fragile, with peripheral bonds dynamics still dictated by ECB interventions, or lack thereof 2. Norwegian GDP to reveal a further healthy expansion in Q3
Russia flows and eod
Russian assets trade weak given the performance of the global markets and hammered by Urals oil at 106 (down from 112 last week).
Russia flows and eod
Basket trades very range-bound for the 2nd day within 35.72/80, while rates slide down on better local RUB supply. Looks like the street getting long the currency now after a period of being flat since the end of October.
SG FX – Who will buy all the bonds?
Foreign investors are selling European sovereign debt, (mostly German) politicians assert that stepping into that breach is ‘not the ECB’s job’ and the EC will put forward possible scenarios for the creation of a Euro Bond in a discussion paper later this week.
UniCredit EEMEA Daily
News HU: Positive – EconMin Matolcsy announces new cooperation with the IMF / Positive – HGB auctions attract strong demand (p2) LT: Neutral – IMF published Article IV Consultation (p2) RO: Negative – MinFin to postpone a USD MTN issue planned for late November / Mixed – MinFin sold RON 296mn 3Y GBs: avg yield […]
UniCredit EEMEA Daily
News CZ: Neutral – Govt sold CZK 6.7bn of CZGB 3.85/21: bid/cover 2.3, avg yield 3.864% (p2) LT: Negative – Govt nationalizes Snoras Bank – the country’s fifth largest bank (p2) TK: Negative – Oct Consumer Confidence Index dropped to 89.7 (p2)
What matters today (Asia edition)
Developed macro 1. Contagion from the eurozone debt crisis is spreading quickly, threatening to turn a regional crisis into a global crisis 2. UK retail sales expected to contract in October 3. US housing starts in October likely retraced 7.3% to 610K .
Barclays FX Desk Wrap-up – 16 Nov 2011
Apart from the development tick by tick in Italy and the formation of the new government, today was a UK day.