Global Macro Overview for 06/04/2016 (Crude Oil) The American Petroleum Institute reported yesterday a decrease in the US oil inventories by the level of -4300K. This number was way below the market expectations of 2900K, which would be another increase from 2600K a week ago...
German Bunds Slump on Firm Economic Data, Rising Oil Prices The German 10-year bond tumbled on Wednesday amid strong Markit retail sales PMI figure and better than expected industrial production data. The benchmark 10-year bonds yield, which is inversely proportional to bond price rose 6...
Russian Bonds Rally on Strong Oil Prices The Russian 10-year bonds jumped on Wednesday, following strong cues emerging from crude oil prices, pushing the yield on 10-year bonds down 5 bps...
Japan PM Abe: We Should Refrain from Arbitrary Intervention in Currency Markets In an interview with the Wall Street Journal on Wednesday, Japanese PM Abe ruled out stepping into foreign exchange markets to reverse the yen's rise...
RBA’s Kent - Large Exchange-Rate Movement May Be Big Shock to Economy Reserve Bank of Australia’s (RBA) Kent was on the wires calling large exchange rate movement could result in a big shock to the economy...
FOMC: Expect a Very Dovish Set of Minutes - Rabobank Stefan Koopman, Market Economist at Rabobank, suggests that the minutes of the FOMC’s March meeting should provide more insight into why the Fed’s now projecting a shallower path of interest rates...
US: Jobs Market Not So Strong - ING James Knightley, Senior Economist at ING, suggests that the latest Federal Reserve’s Labour Market Conditions index posted a third consecutive drop, hinting that the jobs market may not be as strong as Friday’s payrolls report had suggested...
US: Trade Deficit Getting Wider and Wider - Rabobank Stefan Koopman, Market Economist at Rabobank, notes that according to the latest US trade figures, the deficit in February was even wider than projected in last week’s advanced estimate. Key Quotes “Imports of goods exceeded exports by USD 47...
BOJ May Hit Bond Purchase Limit in 2017 – Ex-BOJ Deputy Governor Iwata Former BOJ deputy governor Kazumasa Iwata said in a Bloomberg interview published on Wednesday, that the central bank will reach its bond buying limit by mid next year, which will make negative interest rates policy a key tool...
Japanese Bond Yields Drop on Speculation of BOJ Easing Japanese bond prices rallied, pushing the yields lower especially at the short-end of the curve as strong Yen and weak inflation expectations triggered speculation of fresh BOJ easing. The 10-yr benchmark government bond yield fell to -0.07...
Australian Bonds Rally on Global Growth Concerns The Australian bonds rallied on Wednesday as Western investors pour into safe-haven assets amid deepening global growth fears. The benchmark 10-year bonds yield, which is inversely proportional to bond price fell 0.81 pct to 2...
Risk Off Despite Stronger US Service Sector Surveys in March – Deutsche Bank Darren Gibbs, Chief Economist at Deutsche Bank, notes that the US non-manufacturing ISM beat market expectations, rising 1.1pts to 54...
Oil Rebounds from 5-Week Low, WTI Jumps +2.5% Oil benchmarks on both sides of Atlantic extend the recovery mode from multi-week lows on Wednesday, on mounting expectations of out freeze and drawdown in crude reserves...
FOMC Minutes in the Limelight Today – Danske Bank Research Team at Danske Bank, suggests that this afternoon, the minutes from the 15-16 March FOMC meeting are due for release...
Germany: Lost in Stagnation - ING Carsten Brzeski, Chief Economist at ING, suggests that disappointing new orders add to latest evidence that the German industry is currently caught in stagnation...
Commodities: Major Role in the FX Arena - FXStreet Ross Burland, Editor and Analyst at FXStreet.com, explains the major role of commodities in the FX space...
Eurozone: Unemployment Continues to Decline, but Price Pressures Missing - ING Bert Colijn, Senior Economist at ING, suggests that Eurozone’s inflation last week, turned out to have remained in negative territory at -0.1% in March, while the unemployment rate showed another decline in February...
AUD and Yellen’s Curse - Rabobank Jane Foley, Research Analyst at Rabobank, sees greater likelihood that US officials may have pressured other central bankers to step back from currency wars rather than attempt to secure an agreement specifically targeting the value of the USD...
Currency market strategists are predicting greater weakness in the U.S. dollar over the next few months, as the Federal Reserve seems to have closed the door on interest rate hikes through the spring and left the greenback alone with a destructive bedfellow: rising inflation...
