Forex News
UniCredit EEMEA Daily
News CZ: Neutral – MinFin auctions CZK 6.04bn of 3.85/21: bid/cover 1.5, yield 3.16% (p2) KZ: Negative – The net international reserves decreased by USD 3.5bn to USD 32.5bn in September (p2) PL: Mixed – MPC keeps policy rates unchanged at 4.50% issues some hawkish comments to support the PLN (p2) RO: Positive – The […]
HSBS Macrobullets – Thursday
TOP ECB rate decision today. Over the past week, analysts have scaled back rate expectations after Trichet has on a number of occasions noted that they can keep standard and non-standard measures separate, raising expectations for additional non-standard measures. These could include resuming the covered bond purchases, introducing a 12m LTRO or cutting the deposit […]
David Bloom: Why I’m bullish
But just for today, tomorrow normal service resumes. Why….firstly market sentiment seems to have turned. The market (only equities matter) chose to ignore the Italian downgrade which could have easily fed the bear. The Bernanke “we stand ready to act” was taken as bull food.
UK services PMI stronger than expected in September
The services PMI was stronger than expected in September, rising to 52.9 from 51.1 previously (consensus: 50.5, BarCap: 51.0). The new business index rose by 0.8 points to 54.1 and the employment index was up by 1.3 points to 50.2, indicating rising employment after two months of consecutive falls.
HSBC Macrobullets – Wednesday 05 October 2011
TOP Moody’s downgraded Italy to A2 from Aa2, and warned that further downgrades were possible because of a “material increase” in funding risks for EZ countries. {http://reut.rs/qp1qub} EU fin mins are examining ways to co-ordinate bank recapitalisations after they agreed that additional measures were urgently needed to shore up institutions, the FT reports. {http://on.ft.com/mRshk6}
UniCredit EEMEA Daily
News HU: Neutral – 3m t-bill auctions sees 2.65 bid/cover on limited supply RU: Positive – Sept CPI falls to 7.2%yoy from 8.2%yoy Today’s Events CZ: CZK 7bn 2021 GB auction / HU: NBH minutes / KZ: KZT 15bn 2013GB auction / PL: NBP rate decision / RO: August Wages / RU: September Services PMI […]
Japan considers additional EFSF bond purchase, but timing is not very helpful for EUR
Today’s Nikkei daily newspaper reports the Japanese government has begun to consider purchasing additional EFSF bonds, and Chief Cabinet Officer Fujimura (the PM’s spokesperson) confirmed the general idea.
Emerging Markets Economics Daily
Latin America Brazil: Industrial production decline of 0.2% mom in August was in line with market forecast Colombia: CPI data for September will be published today; we expect the data to show that headline inflation was 0.03% mom last month
European FX Daily – Focus on Bernanke testimony
– Eurogroup cancels 13 October meeting about Greece – The AUD and KRW lead sell-offs, Asian equities down 0.4%-5% – RBA opens door for policy rate cuts – Bernanke to testify to the Joint Economic Committee
Emerging Markets Economics Daily
Latin America Brazil: We expect a slight decline in industrial output in August (data due to be released today, 8am EDT) Mexico: Real GDP growth expectations worsened slightly and inflation projections improved in the latest central bank survey of private sector expectations
GAVIN STACEY : Today the RBA left the cash rate unchanged at 4.75%
Today the RBA left the cash rate unchanged at 4.75%. While uncertainty about global growth remains high, sitting on the sidelines is most likely to be the RBA strategy. The RBA continues to remain caught between the longer term positive fundamentals (ToT and mining capex) and the near-term growth risks originating in EU. Th
UniCredit EEMEA Daily
News BG: Neutral – Cumulative budget deficit flat at 1.0% of GDP in August, Minfin sells 10?Y bonds at 5.28% (p2) CZ: Mixed – September manufacturing PMI slips to 52.3 (p2) RO: Neutral – MinFin places yesterday RON 297mn in 6M t-bills: yield at 6.69%, bid / cover ratio 2.42 (p2)