Market sentiment improved drastically during the Asian session today, following comments by Dallas Fed president Robert Kaplan, who said that he does not expect interest rates to rise until next year. In the FX world, the pound was one of the main gainers among the G10 currencies, with its traders perhaps locking their gaze on tomorrow’s UK inflation numbers.

OVERNIGHT COMMENTS BY FED’S KAPLAN LIFT MARKET SENTIMENT

The US dollar was found lower against all the other G10 currencies in the early European morning Tuesday. It underperformed the most versus CAD, GBP, and AUD, while it lost the least against CHF and NOK.

The weakening of the US…


Esta semana teremos outra decisão de um banco central na agenda, mas temos também as atas das últimas reuniões do RBA e do FOMC. Com os bancos centrais de todo o mundo sugerindo que qualquer aumento da inflação de curto prazo provavelmente será temporário, os IPCs do Reino Unido e do Canadá também podem atrair atenção especial.

Segunda-feira parece ser um dia relativamente leve em termos de publicações econômicas, com o único que vale a pena mencionar é o índice de manufatura do estado do Império de Nova York para maio, que deverá ter caído ligeiramente, de 26,30 para 23,90.


Esta semana será otra sin una decisión del banco central en la agenda, pero tenemos las actas de las últimas reuniones del RBA y del FOMC. Dado que los bancos centrales de todo el mundo sugieren que es probable que cualquier aumento a corto plazo de la inflación sea temporal, los IPC del Reino Unido y Canadá también pueden atraer una atención especial.

El lunes parece ser un día relativamente ligero en términos de publicaciones económicas, y el único que vale la pena mencionar es el índice manufacturero del estado del Imperio de Nueva York para mayo, que se pronostica…


This week will be another one with no central bank decision on the agenda, but we do have the minutes from the latest RBA and FOMC meetings. With central bankers around the globe suggesting that any short-term surge in inflation is likely to prove to be temporary, CPIs from the UK and Canada may also attract special attention.

Monday appears to be a relatively light day in terms of economic releases, with the only one worth mentioning being the New York Empire state manufacturing index for May, which is forecast to have declined slightly, to 23.90 from 26.30.

On Tuesday


Yesterday, investor morale was boosted by the Fed officials and by better-than-expected US initial jobless claims. Oil took a deep dive and the Europen Commission upgraded its economic growth forecast for the EU economy.

RISK SENTIMENT IMPROVED

Yesterday, most of the EU indices managed to close in positive territory, boosted by reports that the EU economy could grow faster than expected in 2021 and 2022. This is due to an increase in vaccinations and the removal of lockdowns. The European Commission have upgraded their forecasts in relation to the EU economy. …


Although EU equities traded slightly higher yesterday, Wall Street and Asian stocks tumbled after the US CPIs for April came in higher than expected, intensifying speculation that the Fed may indeed have to start normalizing its monetary policy earlier than previously thought. With that in mind, moving forwards, we will closely monitor comments by Fed officials to see whether they still believe that the inflation surge will be temporary.

USD GAINES, EQUITIES PULL FURTHER BACK ON INFLATION SURGE

The US dollar continued outperforming all but one of the other G10 currencies on Wednesday and during the Asian session Thursday. …


Equities were a sea of red and the US dollar gained yesterday, with risk aversion rolling somewhat into the Asian session today. It seems that investors remained nervous ahead of today’s inflation data for April from the US. Expectations are for strong advances in both the headline and core rates, which may raise speculation that the Fed should start normalizing its policy earlier.

RISK AVERSION CONTINUES IN LIGHT OF THE US CPIS

The US dollar traded higher against all but one of the other G10 currencies on Tuesday and during the Asian session Wednesday. It advanced the most versus CHF, NZD, and AUD, while eked out the least gains…


Im Vergleich zu den vergangenen Handelswochen erscheint in dieser Woche relativ wenig an wichtigen Wirtschaftskennzahlen. Wir haben keine Entscheidungen von Zentralbanken auf der Tagesordnung wobei wichtige Ereignisse die US-VPIs für April und das britische BIP für das erste Quartal sein könnten. Die Inflation in den USA dürfte weiter angestiegen sein und Fragen aufwerfen, ob die Fed anfangen sollte, eine Verringerung der QE in Betracht zu ziehen. Das britische BIP dürfte im ersten Quartal des Jahres geschrumpft sein, sich aber im März wieder sehr gut entwickelt haben.

Der Montag sollte ein relativ entspannter Tag sein, da keine wichtigen Indikatoren oder Veröffentlichungen…


Equities turned south during the US trading yesterday and today in Asia. It seems that investors may have started getting nervous ahead of tomorrow’s US inflation data as a further surge may raise questions over the Fed’s plan to keep its policy extra loose for long.

Equities Pull Back as Participants Become More Worried on Inflation

The US dollar traded mixed against the other G10 currencies on Monday and during the Asian session Tuesday. It gained against NOK, SEK, AUD, NZD, and EUR in that order, while it lost ground versus GBP, CAD, and CHF. The greenback was found virtually unchanged against JPY.

Although the performance in the FX sphere…


Esta semana parece relativamente leve em comparação com as anteriores. Não temos nenhuma decisão do banco central na agenda, enquanto os eventos mais importantes podem ser os CPIs dos EUA para abril e o PIB do Reino Unido para o primeiro trimestre. A inflação nos EUA deverá ter aumentado ainda mais, levantando questões sobre se o Fed deve começar a considerar a redução do QE. Espera-se que o PIB do Reino Unido tenha contraído no primeiro trimestre do ano, mas tenha apresentado um desempenho muito bom durante o mês de março.

Segunda-feira parece um dia relativamente leve, sem indicadores importantes…

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