Tag Archives: S&P
FI Eye-Opener: You better not be bluffing, ECB
Longer German bond yields continued to rise yesterday and the curve steepened some more.
FX Daily
Today’s ECB meeting will be the main attraction. We expect the ECB to deliver anaggressive easing move by cutting the refi and deposit rates, taking the latter intonegative territory.
USD/JPY & AUD/USD sellers should be tempted to step back in
EURUSD: Buyers responded at a marginally fresh low yesterday, butalso showed resistance respect.
FX Daily
The Spanish and Italian May service PMIs are due for release. The Spanish figureincreased to 56.5 in April, which is the highest print since the beginning of 2007.
FI Eye-Opener: Increasingly hard to dismiss deflation risks
Bonds continued to take a hit yesterday on both sides of the Atlantic and curves bear-steepened. The German 10-year yield leaped by some 4bp,
Dollar strength!
EURUSD: A bearish candle as a continuation pattern was added yesterday. It also persistent dynamic resistance with the 8day “Tenkan-Sen” (blue line in the chart).
FX Daily
The most interesting data release today is euro-zone inflation in May, which weexpect will decline back to this cycle-low of 0.5% y/y from 0.7% y/y in April.
AUD turning lower. SEK weakness takes a short pause
EURUSD: On a grander scale May probably became the turning pointfor the common currency given that the monthly candlebecame a very bearish key month reversal one arguing formore losses on a 3-4 months horizon.
FX Daily
Although the market probably has its eyes on Thursday’s ECB meeting and Friday’sUS job report, the first day of the week is loaded with interesting key figure releases.
Weekly Report
Markets have priced in rate cuts Looking forward the key event will be the European central bank policy meeting.
FX Daily
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.
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.