USD/TRY climbs to 5-week highs above 8.6000 fxstreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fxstreet.com Daily Mail and Mail on Sunday newspapers.
Week Ahead - All eyes on the Fed - MarketPulse marketpulse.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketpulse.com Daily Mail and Mail on Sunday newspapers.
Norway central bank sharpens its hawkish claws fxstreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fxstreet.com Daily Mail and Mail on Sunday newspapers.
Will a less dovish Fed help the dollar rebound? - MarketPulse marketpulse.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketpulse.com Daily Mail and Mail on Sunday newspapers.
Aston Martin [AML.UK] +2% (earnings), AB InBev [ABI.BE] +5% (earnings). - UniCredit [UCG.IT] +3% (earnings), - - Continental [CON.DE] -1% (earnings). - Telecom: Telecom Italia [TLIT.IT] -5% (Italian govt said to drop backing of Telecom Italia single network plan). Speakers - ECB Economic Bulletin noted that the near-term economic outlook remained clouded by uncertainty about the resurgence of the pandemic and the roll-out of vaccination campaigns. Preserving favorable financing conditions over the pandemic period remained essential. - Norway Central Bank (Norges) Olsen post rate decision press conference noted that the economy should gradually normalize but uncertainty remained. Pandemic was not over but vaccinations were well underway and saw light at the end of the tunnel. Normalization of liquidity was well underway and saw all extraordinary loans repaid by end-Aug.
April 30, 2021SharePrint Everyone on Wall Street is trying to figure out if the peak in Treasury yields will stick for a while now that the US is approaching peak growth. The best expansion since World War 2 is being accompanied with a Fed that remains committed to supporting the economy until a complete recovery. The playbook for many traders appears to be the Fed could announce at the June FOMC or at the Jackson Hole Symposium that they are ready to start talking about tapering, paving the way for a gradual reduction of the $120 billion per month in asset purchases. Another busy week ahead has several key economic releases, central bank speak, and a couple of big interest rate decisions. In the US, traders will closely watch the ISM Manufacturing reading and Market PMIs, durable goods, factory orders, and the nonfarm payroll report, which could show over a million jobs were created in April. We will hear from ECB’s Lagarde, Fed Chair Powell and his colleagues Daly, Kashkari, and Kaplan.
Publicis [PUB.FR] +3% (sales), Deliveroo [ROO.UK] -1% (trading update). - - Speakers - BOE Q2 Bank Liabilities and Credit Conditions Surveys noted that lenders expected the availability of secured credit to increase over the next three months to end-May. Total funding volumes were expected to increase in the three months to end-May (Q2). - German Fin Min Scholz reiterated stance that govt must support businesses and households until the pandemic was over. Country could afford to finance all spending that was needed and stressed that Germany would be better off compared to other countries after the crisis. - German Leading Economic Institutes confirmed it cut its 2021 GDP growth forecast from 4.7% to 3.7% (as speculated). Raised 2022 GDP growth forecast from 2.7% to 3.9%. Cautioned that further delays in vaccine deliveries and virus mutations were the biggest downside risks.
4/15/2021 11:31:44 AM GMT | By Pablo Piovano USD/TRY accelerates the upside to the 8.15 area. The CBRT left the One-Week Repo rate unchanged at 19.00%. The central bank dropped the commitment to keep a tight stance. The Turkish lira reverses the recent strength and now pushes USD/TRY to daily tops near 8.1500. USD/TRY up following steady CBRT USD/TRY resumes the upside following three daily pullbacks in a row and after the Turkish central bank (CBRT) left the One-Week Repo Rate unchanged at 19.00% at its meeting on Thursday. The central bank noted that inflation expectations remain at elevated levels and pose risks to the inflation outlook, although it kept the 5% medium-term target unchanged. Further selling pressure around the lira comes after the CBRT removed its pledge to keep the tightening stance from the statement, noting that the key rate will be set above the inflation rate.
Week Ahead: Rising Treasury Yields will make this an interesting FOMC decision March 12, 2021SharePrint The bond market seems determined to make this an interesting FOMC policy decision. Treasury yields have been surging after the Biden administration passed the $1.9 trillion COVID relief bill and set a May 1 st goal of getting vaccines to all adults. The Fed welcomes a steeper yield curve, but the current trajectory could be disruptive to the economic recovery. Market participants want to know how quickly do yields need to rise to raise concerns of tighter conditions or trigger disorderly markets? The taper tantrum might get priced in a lot sooner by Wall Street, but the Fed will patiently wait until economic indicators confirm the recovery remains much later in the year.