Currency Market Summary 20-Jun-16 14:51 ET | Bonds/Notes Message Board Posts

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Msg  4435 of 4438  at  6/20/2016 2:53:30 PM  by


Currency Market Summary 20-Jun-16 14:51 ET

10-Year: -17/32....1.67%.... GNMAs: .... USD/JPY: 103.89....EUR/USD: 1.1317

  • Minneapolis Fed President Kashkari (non-FOMC voter), “Ending Too Big to Fail”: no mention of economic outlook or monetary policy
  • $26 bln 2-year Treasury auction: High yield: 0.745% (when-issued: 0.745%), Bid-to-cover: 3.01, Indirect bid: 47.4%, Direct bid: 9.9%
Currency Market Summary
20-Jun-16 14:51 ET
10-Yr: -17/32..1.67%.. USD/JPY: 103.89.. EUR/USD: 1.1317

Pound Rips Higher, Dollar and Swissy Drop

  • The U.S. Dollar Index dropped 0.64% to 93.60 today with the dollar losing ground against all majors but the Swiss franc. Safe-haven demand waned as Brexit polling moved in favor of 'remain' over the weekend and the resulting rally in risky assets weighed on the Swissy and greenback. The New Zealand dollar moved very close to a one-year high against the U.S. dollar. There was no economic data from the U.S. today but Fed Chair Yellen will address the Senate Banking Committee on Tuesday morning
  • EUR/USD: +0.37% to 1.1317
    • The German Constitutional Court is set to rule on the European Central Bank's Outright Monetary Transactions (OMT) program. The European Court of Justice ruled in favor last year. The OMT program has faded in importance due to the ECB's EUR80 bln/month asset purchase program, but the German high court's ruling will still be important. The ECB's Public Sector Purchase Program (PSPP) only buys the debt of member nations in proportion to the capital key, limiting the PSPP's ability to fight "doom loops" in peripheral countries
    • Germany's producer price index rose 0.4% m/m in May (-2.7% y/y), beating both expectations and the 0.1% growth seen in April
    • Spain's trade deficit narrowed less than expected to -EUR0.64 bln in May from -EUR0.79 bln in April
  • GBP/USD: +2.30% to 1.4689
    • Polling for the U.K.'s referendum on EU membership, set for Thursday, has trended in the direction of "Bremain" over the weekend and the pound sterling is having its best day against the U.S. dollar since the financial crisis
    • The U.K.'s Rightmove House Price Index rose 0.8% m/m in May to an all-time high. The average time to sell a home fell to 57 days, the lowest in at least six years
  • USD/CHF: +0.24% to 0.9621
  • USD/JPY: -0.23% to 103.89
    • Japan's seasonally adjusted trade surplus fell less than expected to JPY0.27 tln in May from JPY0.43 tln in April
    • Exports fell by a greater-than-expected 11.3% y/y
    • Imports fell by a smaller-than-expected 13.8% y/y
  • USD/CNY: -0.12% to 6.5759
  • USD/RUB: -0.90% to 64.21
    • Retail sales in Russia fell 6.1% m/m in May, whereas economists had forecast a continuation of April's -4.8% annual rate
    • The unemployment rate fell to 5.6% in May from 5.9% in April
  • USD/CAD: -0.72% to 1.2802
    • Wholesale sales in Canada rose by a smaller-than-expected 0.1% m/m in April after dropping 0.8% in March
  • AUD/USD: +0.85% to 0.7458
  • NZD/USD:
    • New Zealand's Westpac Consumer Sentiment Index fell to 106.0 in the second quarter from 109.6 in Q1

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