Forex News
European Sunrise – No calm before the storm
The hardened positions between the ECB and the German government about the private sector involvement in a rescue deal for Greece favours a risk off bias which supports Bunds, even though the ECB will continue to hike rates next month.
China trade data
MAY TRADE BALANCE $13.1 BLN (FORECAST $18.6 BLN): DANIEL HUI : on the headlines a strong set of trade numbers from China. Imports much stronger than expected. We still have yet to see the details, but this likely means that domestic demand remained quite solid – this will counteract some concerns of overtightening or hard […]
We are expecting soft UK data today
IP Data UK industrial production has weakened noticeably since the start of the year and, although this has mainly reflected trends in extraction industries, manufacturing production has also grown little since January.
Overnight FX Wrap, Orderbook and Asia Run
HK Overnight Wrap: Started the day with risk on and equities bid, BOK raising interest rates and the market going long, looking to target the stops higher in AUDUSD and EURUSD. We failed and everyone ran for the door at the same time. USDJPY likewise was trading bid heading into the Tokyo fix, only to […]
Daily Currency Briefing: Uncertainty beats credibility
G10 Currencies EUR: Why did the euro ease following the ECB press conference despite the fact that Jean-Claude Trichet gave a de-facto announcement of a rate rise in July?
Short AUD/CAD and a little EUR/USD too…
AUD trader sitting short AUD/CAD at mom…tgt 1.0100 (100 DMA) And eyeing up the 0.9730 support in USD/CAD….. Tgt 1.0380 in AUD$ Feels AUD was supported by EUR/AUD selling yday post Trichet
Daily Forex Outlook : Waiting for the words.
EUR USD (1.4615) Fitch warned yesterday that the US risks losing its AAA bond rating if the Treasury does not repay a bill maturing on August 4th.
Macrobullets – Thursday 9th June.
TOP New Zealand’s central bank held interest rates steady as expected and said it would keep them there for now, but signalled it may tighten policy as soon as the end of the year as the economy gathers steam, sending the currency higher {http://reut.rs/kn7vj7}
HSBC FI – ECB & MPC decisions, rift on Greece.
ECB to signal a hike in July (13:45CET) By using the expression ‘strongly vigilant’ the ECB is likely to indicate that a 25bp increase will come in July (HSBC Economics & Bloomberg consensus).
AUD employment data weaker than expected…
Don’t be alarmed. Yes, today’s employment numbers were weaker than expected (+8000 vs. mkt +25,000) and confirm the labour market has stabilised. But stabilised, not weakened.
UniCredit EEMEA Daily.
News BG: Neutral – 1Q GDP grows 3.4% yoy (p2) CZ: Neutral – Wages expand 2.1% yoy in 1Q; Govt auctions CZGB 2014 CZK5.7bn: bid/cover ratio – 2.21, yield – 3.848% (p2)
Westpac AustralAsian Daily.
Market themes & issues RBNZ boosts NZD, AUD thumped by jobs data. The more hawkish than expected RBNZ statement saw NZD/USD jump from 0.8150 to around 0.8220.