The NZD is the strongest and the USD is the weakest as NA traders enter for the day
14 May 2021
Traders await US retail sales at the bottom of the hour
As North American traders enter for the day the NZD is the strongest and the USD is the weakest ahead of April Retail sales (are expected to show a stimulus check induced rise of 1% for the headline number). Industrial production, Capacity Utilization, Businesss inventories
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As North American traders enter for the day the NZD is the strongest and the USD is the weakest ahead of April Retail sales (are expected to show a stimulus check induced rise of 1% for the headline number). Industrial production, Capacity Utilization, Businesss inventories
ForexLive European FX news wrap: Dollar falls, risk trades ratchet higher
14 May 2021
Forex news from the European trading session - 14 May 2021
Headlines:
Markets:
- NZD leads, USD lags on the day
- European equities higher; S&P 500 futures up 0.6%
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Headlines:
Markets:
- NZD leads, USD lags on the day
- European equities higher; S&P 500 futures up 0.6%
Heads up: UK PM Johnson and chief medical officer Whitty to hold a press conference later
14 May 2021
The press conference is scheduled for 1600 GMT
UK prime minister, Boris Johnson, did express some concern yesterday over virus variants but it is unlikely to see that derail plans on the economic reopening just yet.
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UK prime minister, Boris Johnson, did express some concern yesterday over virus variants but it is unlikely to see that derail plans on the economic reopening just yet.
ECB minutes: Rate expectations remain well anchored by ECB guidance
14 May 2021
ECB releases the minutes of its April policy meeting
Nothing that we don't already know from the ECB since the meeting last month. Carry on as you will.
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Nothing that we don't already know from the ECB since the meeting last month. Carry on as you will.
Treasury yields keep a little lower so far on the day
14 May 2021
10-year Treasury yields down 2 bps to 1.637%
The high this week hit 1.70% but that seems a bit of a distance away now. In turn, that has also flipped the switch for some light pressure against the dollar today.
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The high this week hit 1.70% but that seems a bit of a distance away now. In turn, that has also flipped the switch for some light pressure against the dollar today.
Equities continue to keep with the bounce from yesterday
14 May 2021
Nasdaq futures grind higher to be up 1%
European indices are also holding modest gains on the session, roughly between 0.4% to 0.6% at the moment. Nasdaq futures are leading gains in the US futures space, up 1.1% while S&P 500 futures are up 0.7% at the moment.
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European indices are also holding modest gains on the session, roughly between 0.4% to 0.6% at the moment. Nasdaq futures are leading gains in the US futures space, up 1.1% while S&P 500 futures are up 0.7% at the moment.
Germany sets new daily vaccination record with 1.35 million doses administered yesterday
14 May 2021
As confirmed by German health minister, Jens Spahn
That is good news as the vaccine progress starts to gather pace but much like how things have slowed down in the US, it might be a challenge for Europe once vaccinations in general start to reach the 50-60% mark.
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That is good news as the vaccine progress starts to gather pace but much like how things have slowed down in the US, it might be a challenge for Europe once vaccinations in general start to reach the 50-60% mark.
Fed tolerance is the key variable in the market right now
14 May 2021
That is assuming US data continues to run hot in the months ahead
However, given how things are looking so far, there is little reason not to expect such conditions to continue - though there will be some interesting caveats.
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However, given how things are looking so far, there is little reason not to expect such conditions to continue - though there will be some interesting caveats.
Dollar a little on the backfoot to start the session
14 May 2021
EUR/USD trades back above the 1.2100 level
The greenback is slightly on the backfoot as we get things going in European morning trade, as major currencies look to stretch the ranges for the day.
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The greenback is slightly on the backfoot as we get things going in European morning trade, as major currencies look to stretch the ranges for the day.
Spain April final CPI +2.2% vs +2.2% y/y prelim
14 May 2021
Latest data released by the National Statistics Institute - 14 May 2021
The preliminary report can be found .
here
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The preliminary report can be found .
here