HIGH
IMPACT ITEMS: US- PPI, Empire PMI, Industrial Production, NAHB
Headline U.K.
employment data were better than expected, but a deeper look in to the
report sees some underlying weaknesses.
The U.S. sees several
releases on Wednesday with Industrial Production data likely the most
significant. The Fed will be keeping a close eye on the PPI data.
The USDJPY is another key focus with the 102.00 level clearly
established. Former Japanese Minister Sakakibara, "Mr. Yen" expressed
no concerns today about the value of the JPY, nor of recently rising
JGB yields. .
Markets are still adjusting to
the Fed signal that it is preparing for an exit from Quantitative Ease.
This marked a key shift from the signal sent after the May 1 FOMC
meeting just two weeks ago. At that time the Fed policy guidance was
equivocal.
The purpose of the new signal
was to
desensitize markets to the actual announcement when it comes.
Expectations for an eventual end to QE has weighed on bond prices.
Thursday sees EZ and U.S. CPI
data and U.S. Housing Starts. Weekly
Jobless Claims are always closely followed. Friday caps off a busy week
with Canadian CPI data and the University of Michigan
Survey.
20d
avg
10-yr
Equities
EURUSD
1.3054
JGB
0.88% +3bp
Asia:Higher
USDJPY
99.22
Bund
1.40% +4bp
Europe
Mixed
EURJPY
129.53
U.S.1.96%
+4bp
U.S.:Mixed
Actionable trading levels delivered LIVE to YOUR charts
Mon 27 May 2019 AAGB/US- Holiday Tue 28 May 2019 A 14:00 US- Consumer Confidence C 13:00 US- Case-Shiller Wed 29 May 2019 A 08:55 DE- Employment AA 18:00 US- BOC Decision A 18:30 US- EIA Crude Thu 30 Mar 2019 AAEZ/CH- Holiday A 12:30 US- Weekly Jobless Fri 31 Mar 2019 AA 10:00 EZ- Flash HICP A 12:30 US- Personal Income, Spending, Deflator AA 14:00 US- Final Univ of Michigan
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