RANsquawk Weekly G10 Central Bank Monitor 14 July 2017
14 Jul 2017, 17:20
FEDERAL RESERVE (FED)• While most of Fed Chair Janet Yellen’s dual testimonies to the House and Senate generally toed the line, her comments hinted at downside risks to the Fed’s projection of the longer-term federal funds rate (currently between 2.80% and 3.00%, and will be updated next at its September meeting).• “The neutral level of the federal funds rate is likely to remain close to zero in real terms over the medium term. If that is the case, we would not have much more...
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RANsquawk EU Open Rundown 14.07.17
14 Jul 2017, 06:52
- Asian equities traded with little in the way of firm direction as markets await a slew of tier 1 US data releases later in the session
- FX markets also traded in a tentative manner with outflows from safe-haven JPY leading to further upside in USD/JPY
- Looking ahead, highlights include US CPI, retail sales, industrial output, Uni. Of Michigan and Fed’s...
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RANsquawk EU Open Rundown 13.07.17
13 Jul 2017, 06:53
- Asian equities traded mostly higher after a firm Wall St close which saw the DJIA post record highs with Chinese data supporting domestic bourses
- BoE’s McCafferty said that BoE should consider unwinding its QE programme earlier than planned
- Looking ahead, highlights include IEA oil market...
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RANsquawk EU Open Rundown 12.07.17
12 Jul 2017, 06:54
- Asian equities traded mixed following a similar lead from Wall Street with political tension mounting amid the Trump Jr email revelations
- In FX, mild USD pressure in Asia saw USD/JPY slip with much of this stemming from yesterday’s slip in US yields
- Looking ahead, highlights include the UK jobs report, OPEC monthly report, BoC...
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RANsquawk EU Open Rundown 11.07.17
11 Jul 2017, 06:55
- Asian equities traded with little in the way of firm direction with newsflow once again on the light side overnight
- FX markets saw USD/JPY continue its ascent, reaching 4-month highs while NZD underperformed
- Looking ahead, highlights include US JOLTS, APIs, BoE’s Haldane, Broadbent, ECB’s Coeure, Constancio, Fed’s Brainard and Kashkari ...
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RANSQUAWK WEEK IN FOCUS: Fedspeak dominates the US docket, while China returns to the fore
10 Jul 2017, 07:00
Key Events: -Monday: Chinese Inflation Data (Jun)Tuesday:Wednesday: Fed Chair Yellen testifies to the US House Financial Services Committee, Bank of Canada Monetary Policy Decision, UK Labour Market Data (May/Jun)Thursday: Chinese Trade Balance (Jun)Friday: US CPI (Jun), US Retail Sales (Jun)North America: -The major...
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RANsquawk EU Open Rundown 10.07.17
10 Jul 2017, 06:55
- Asian equities have kicked the week off mostly higher with the Nikkei 225 lifted by a softer JPY. Chinese CPI prints in-line
- UK Press attention has been placed on reports suggesting that PM May will seek opposition support in pushing tspanough Brexit legislation
- Looking ahead, highlights include Fed’s Williams
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RANsquawk Weekly G10 Central Bank Monitor – 9 July 2017
09 Jul 2017, 16:13 by Newsquawk Desk
FEDERAL RESERVE (FED)
• Attention this week will be on the Q&A part of Fed chair Janet Yellen’s semi-annual testimony to Congress (House Financial Services Committee on 12 July and Senate Banking Committee the next day). The Fed’s Monetary Policy Report, released Friday, provided little new information, reiterating gradual hikes, and gradual reduction of the balance sheet when it begins later this year. Indeed, the report largely echoed recent comments from Fed policymakers, as well as...
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RANsquawk EU Open Rundown 07.07.17
07 Jul 2017, 06:55
- Asian equities traded lower overnight amid spill-over selling from global counterparts. BoJ took action on rising Japanese yields
- USD-index was contained below 96.00. Precious metals pressured by a flash crash in silver (said to be caused by a fat finger)
- Looking ahead, highlights include UK mfg and industrial production, US and Canadian jobs, ECB’s...
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RANsquawk Question to BoE's McCafferty on LBC Radio
06 Jul 2017, 17:53
BoE's McCafferty, who dissented at the June Monetary Policy Meeting, speaks to RANsquawk's Anthony Barton about the slowing of the UK economy on Iain Dale's LBC radio show, 6th July 2017. Have a listen to the conversation below:[playlist artists="false" images="false" ids="790"]
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RANsquawk EU Open Rundown 06.07.17
06 Jul 2017, 06:54
- FOMC minutes drew little in the way of a market reaction with policymakers divided on when to implement balance sheet reductions
- Asian equities trimmed opening gains in what was a light session overnight with FX markets relatively rangebound
- Looking ahead, highlights include ECB minutes and DoEs
- Most policymakers...
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RANsquawk EU Open Rundown 05.07.17
05 Jul 2017, 07:01
- Geopolitical tensions mount amid further missile testing from North Korea. North Korea aims to create an ICBM capable of hitting the US this year
- Asian equities pared initial Korea-inspired losses. JPY strengthened on early safe-haven flows, pushing USD/JPY briefly below 113.00
- Looking ahead, highlights include Eurozone and UK service PMIs and FOMC...
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RANsquawk EU Open Rundown 04.07.17
04 Jul 2017, 06:54
- RBA maintained its cash rate target at 1.5%, however defies hopes of a more upbeat outlook.
- Hong Kong stocks underperforms while North Korea yet again conducts another missile launch.
- Looking ahead, highlights include Riksbank rate decision, Fonterra dairy auction.
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PREVIEW: Riksbank rate decision (4th July at 0830BST/0330ET)
03 Jul 2017, 17:52
The Riksbank is expected to keep its interest rate unchanged at -0.50% with all analysts surveyed by Reuters expecting that to be the case. The central bank is also not expected to make any changes to its QE programme at the meeting.The economy has been performing relatively well recently with inflation higher than the central bank expected, however, Nordea think this will be disregarded as they “will do their utmost to avoid inflation settling at too low levels”. Inflation remains below the Riksbank’s...
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RANsquawk EU Open Rundown 03.07.17
03 Jul 2017, 06:54
- Asian equities traded in an indecisive manner with modest support seen for the Nikkei 225 post-Tankan data
- Most major currencies pared recent gains against the greenback as the USD-index further recovered from 9-month lows
- Looking ahead, highlights include Eurozone, UK and US mfg PMIs, US ISM and construction spending.
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RANsquawk EU Open Rundown 30.06.17
30 Jun 2017, 07:02
- Haven currencies benefited from the risk averse tone overnight, with USD/JPY tracking below 112.00
- Firmer than expected Chinese Mfg. PMI fails to lift sentiment in Asia, while Japanese inflation remains subdued.
- Looking ahead, highlights include UK GDP, US PCE and Baker Hughes rig count.
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RANsquawk EU Open Rundown 30.06.17
29 Jun 2017, 06:57
- Haven currencies benefitted from the risk averse tone overnight, with USD/JPY tracking below 112.00
- Firmer than expected Chinese Mfg. PMI fails to lift sentiment in Asia, while Japanese inflation remains subdued.
- Looking ahead, highlights include UK GDP, US PCE and Baker Hughes rig count.
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RANsquawk EU Open Rundown 28.06.17
28 Jun 2017, 06:58
- Asian equities traded with little direction after losses seen on Wall Street which were led by tech and healthcare names
- Most FX majors continued to gain against the greenback, with commodity linked currencies outperforming during Asia trade
- Looking ahead, highlights include US Trade data, pending home sales, DoEs and a slew of central bank...
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RANsquawk EU Open Rundown 27.06.17
27 Jun 2017, 06:54
- Asian equities traded with little in the way of firm direction in what was a relatively data and news-light session
- A relatively quiet tone persisted in FX markets with the USD-index range-bound to hold above 97.00
- Highlights include BoE’s FSR, ECB’s Draghi, Coeure, Praet, Fed’s Yellen, Williams, Harker and Kashkari
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RANsquawk EU Open Rundown 26.06.17
26 Jun 2017, 06:57
- UK PM May is set to publish a 15 page document today detailing how she intends to protect the rights of 3.2mln EU nationals residing in Britain
- Asian equities traded higher across the board after a positive close on Wall Street on Friday with macro newsflow otherwise light
- Looking ahead, highlights include German IFO, US Durables and ECB’s...
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RANSQUAWK WEEKLY G10 CENTRAL BANK MONITOR – 25 JUNE 2017
25 Jun 2017, 19:52 by Newsquawk Desk
Click here for the RANsquawk Week Ahead Eco Preview, 26 to 30 June 2017
FEDERAL RESERVE
• The abundance of Fedspeak last week did little to persuade the market to shift towards the FOMC’s hiking trajectory – which has pencilled in seven additional 25bps hikes tspanough the end of 2019; Fed Funds Futures, on the other hand, see just two more hikes over that horizon.
• An acceptance of the need to be patient was generally evident in the tone of the 2017...
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RANsquawk Week Ahead Preview, 26 to 30 June 2017
25 Jun 2017, 19:44
The RANsquawk Weekly G10 Central Bank Monitor can be accessed hereNORTH AMERICAMON 26 JUN 2017 - 1330BST: US DURABLE GOODS ORDER (MAY, PRELIM)Forecast: -0.7% vs prev. -0.8%; ex-transport seen 0.3% vs prev. -0.5%. The headline weakness is likely to come on the back of softer orders from Boeing, which reported...
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RANsquawk EU Open Rundown 23.06.17
23 Jun 2017, 06:55
- UK PM May unveiled proposals for EU citizens at the Brussels summit including a proposal that would allowed 3 million EU citizens to stay in the UK Permanently
- Asian equity markets lacked impetus amid quiet newsflow and after a subdued Wall St. close in which stocks posted a 3rd consecutive day of losses
- Looking ahead, highlights include Eurozone PMIs, Canadian CPI, Fed’s Bullard, Mester and...
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RANsquawk EU Open Rundown 22.06.17
22 Jun 2017, 06:53
- UK PM May is facing a constitutional crisis after Labour and the Liberal Democrats tspaneatened to use the House of Lords to water down Brexit
- NZD which was lifted by the RBNZ after it kept rates unchanged as expected and suggested an optimistic tone on growth
- Looking ahead, highlights include Norges Bank rate decision, US weekly jobs and Fed’s...
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RBNZ Interest Rate Decision Preview – June 2017
21 Jun 2017, 10:46
The RBNZ is scheduled to release its latest rate decision today at 2200BST/1600CDT/0500HKT in which consensus is one-sided for the OCR to be kept on hold at the record low 1.75%, with all 26 economists surveyed unanimously forecasting no changes in rates.Expectations for the central bank to stand pat tspanoughout the near-term and maintain a neutral tone were solidified at the last meeting, after Governor Wheeler explicitly stated that the RBNZ is neutral on policy and expects the OCR to remain at the...