Asia:
00:00am - SK BoP Current Account Balance (May) $8680.6m vs Prior $1768.2m
02:30am - BOJ Masai speaks in Matsumoro
04:05am - RBA's Heath Speech in Wollongong
Europe:
05:30am - NE CPI
07:00am - GER Factory Orders
08:00am - SPA Industrial Orders
08:15am - SWI CPI
08:30am - GER Markit Germany Construction PMI
09:10am - ITL Markit Retail PMI
09:10am - FRA Markit Retail PMI
09:10am - GER Markit Retail PMI
09:10am - EUR Markit Retail PMI
11:00am - BOE Governor Carney Speaks in Newcastle
12:15pm - ECB's Mersch Speaks in Linz, Austria
US:
13:15pm - US ADP Employment Change
13:30pm - US Initial Jobless Claims
13:30pm - US Continuing Claims
14:45pm - Markit US Services/Composite PMI's
15:00pm - US ISM Non-Manuf. Composite
19:00pm - FOMC Minutes from 13th June 2018
Market Focus this Morning...
- EUR/USD has erased declines after a report showed some ECB policy makers are uneasy that investors aren't betting on a rate hike until December 2019. The state of market expectations isn't necessarily surprising, given odds the central bank's pre-commitment to holding rates through the summer of 2019.
- Cash USTs to reopen after holiday, futures implied yields ~1bp higher across 2-10y vs early NY cash close on Tuesday. FOMC minutes tonight/NFP tomorrow may dull activity. Aussie bonds open steady, curve modestly steeper. Watching spread vs UST which remains near all time tights. Long-end JGB have been well supported recently on suspected lifer flow which bodes well for today's 30y sale. BPCE may price 5y/10y Samurai issue as early as today, may pressure basis wider
These are key events coming up this week:
- Federal Reserve releases minutes of its June 12-13 meeting, when FOMC policy
makers raised the benchmark rate a quarter point for the second time this year
and lifted the median forecast to four total increases in 2018.
- U.S. payrolls are due Friday.
- Also on Friday, the U.S. is scheduled to impose tariffs on $34 billion of
Chinese goods. Beijing has said it will slap tariffs on an equal value on U.S.
exports including agricultural and auto exports.
No comments:
Post a Comment