The dollar lags behind the major currencies basket on the day For bank trade ideas, check out eFX Plus EUR/USD is taking a peek above the 1.1200 level as we get things going, last seen doing so back in 16 March or two-and-a-half months ago. Buyers continue to sit firmly in control and are looking […]
Blogs
FX option expiries for Wednesday June 03 at the 10am NY cut
EUR/USD USD/JPY GBP/USD 1.2560 603m GBP amount For bank trade ideas, check out eFX Plus
Bank of Canada monetary policy meeting on Wednesday 3 June 2020 – preview
Policy announcement and statement due at 1400GMT – There are no accompanying forecasts – There is no accompanying press conference – Tiff Macklem takes over as Governor from Poloz on Wednesday The Bank of Canada is widely expected to leave rates unchanged at 0.25%
PBOC sets USD/ CNY reference rate for today at 7.1074 (vs. yesterday at 7.1167)
People's Bank of China – skip OMOS today – 120bn yuan of RRs mature today For bank trade ideas, check out eFX Plus
RBA – Speech by Michele Bullock, Assistant Governor – nothing on monetary policy nor her outlook for the economy
Maybe in Q&A to follow, stay tuned. For bank trade ideas, check out eFX Plus
Japan press say the BOJ is considering expanding its small business lending program
Jiji press (Japanese media) with the heads up For bank trade ideas, check out eFX Plus
Swiss GDP contracted -2.6% in Q1, worse than expectation
<p>Swiss GDP contracted -2.6% qoq in Q1, worse than expectation of -2.2% qoq. “Due to the coronavirus pandemic and the measures to contain it, economic activity in March was severely restricted. The international economic slump also slowed down exports.” By production approach, manufacturing dropped -1.3% qoq. Construction dropped
Australia GDP contracted -0.3% in Q1, started first recession in 29 years
<p>Australia GDP contracted -0.3% qoq in Q1, matched expectations. That’s the first contraction in 9 years. Also, the recession should have started in Q1, for the first time in 29 years. Annually, growth slowed to 1.4% yoy, lowest since September 2009 when Australia was in the midst of the global financial crisis. Treasurer Josh Frydenb
China Caixin PMI composite rose to 54.5, more time still needed to return to normal
<p>China Caixin PMI Services rose to 55.0 in May, up from April’s 44.4. PMI Composite rose to 54.5, up from 47.6, back in expansion territory. Markit said that business activity and new work rose at quickest pace since late 2010. Pandemic continued to weigh heavily on export orders. Employment fell slightly as firms look to […]
Japan PMI composite rose to 27.8 in May, indicative of -10% annualized GDP contraction
<p>Japan PMI Services improved to 26.5 in May, up from April’s record low of 21.5. PMI Composite also rose slightly to 27.8, up from April’s record low of 25.8. The data signed “historically unparalleled” decline in output. Joe Hayes, Economist at IHS Markit, said: “While the month of May has seen the Japanese go