Yep, RBA day – it’ll be an ‘on hold’ decision …. again! Here is what’s coming up: 2200 GMT New Zealand government financial statements (surplus etc.) 2230 GMT Australia services PMI for May
2-year yields continue to fall on the day Italy’s bond market is still picking up the pieces after the dramatic last two weeks of May, and that recovery is still ongoing as we head into trading this week. 2-year yields are now down to under 0.70% to a low of 0.68% today, after going back…
The bond market is responding in due kind after the positive data Positive and (which will feed into this week’s GDP reading) is helping to provide a strong tailwind to the aussie so far today, as AUD/USD trades near the highs for the day currently.
The greenback is losing further ground as the session gets going AUD/USD is now touching session highs of 0.7646, with NZD/USD also dragged higher to a high of 0.7032. The aussie is now 1.02% higher than the dollar on the day, with the dollar slipping to the worst performing major currency – as the Japanese…
Latest data released by Eurostat – 4 June 2018 Flat reading on the month, and slightly lower on the yearly estimate than expected. Nonetheless, it’s a minor data point as it acts as a rough gauge of inflationary pressures – but a poor gauge considering that the fact the data is a lagging one.
Latest data released by Sentix – 4 June 2018 A general sentiment indicator of investors’ outlook of the Eurozone economy over the next six months. A bad print there as both current situation and expectations fall. The headline reading is the weakest since October 2016. Sentix is attributing the fall mainly to Italy and trade…
IMF comments on France – “France has now become a reform leader in Europe” – French gov’t has yet to fully specify how its ambitious fiscal targets will be achieved The consensus for French GDP this year is 2.0%, down from 2.2% in 2017.
Trump is busy on twitter today Trump has tweeted on just about everything today, including trade. “China already charges a tax of 16% on soybeans. Canada has all sorts of trade barriers on our Agricultural products. Not acceptable!”
Economic data coming up Happy Monday everyone. The euro is near the best levels of the day as worries about Italy and Spain fade. The US dollar is the weakest performer as it starts .
According to Bloomberg Expect this to be a bunch of hooblah in which the UK government throws a handful of things at the EU and hoping at least one of it sticks. My guess is that none would.