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Jens Weidmann Succession at the Bundesbank?


Review $24B 20Y-Bond Auction Re-Open, Large Tail


Correction Still In Play


20Y WI Update

FOREX: Investors seemingly looked past yesterday's blacklisting of several
Chinese tech firms by the U.S. and focused on the upside. Working-level talks
are underway ahead of Thursday's meetings between high-level officials from U.S.
and China. Beijing confirmed today that Vice Premier Liu and PBoC Gov Yi will
take part. China resumed trading after a week-long hiatus, with the PBoC setting
the USD/CNY mid-point slightly below RTRS & BBG estimates.
- Antipodean FX outperformed their G10 peers, drawing support from a firmer yuan
& hopes for a positive outcome of U.S.-China talks. Significantly wider than
forecast budget surplus reported by New Zealand's Tsy (NZ$7.51bn vs. exp. of
NZ$3.47bn) further aided NZD, placing it atop the G10 pile.
- Safe havens were damaged by the risk-on mood. JPY is heading towards the
London session as the worst G10 performer amid a positive showing from local
equity benchmarks and reported USD/JPY demand into the Tokyo fix.
- Focus turns to U.S. PPI, German industrial output & Italian retail sales.
Fed's Powell, Evans & Kashkari, BoE's Carney & Tenreyro, ECB's Lane & de Cos, as
well as Norges Bank's Olsen will speak.
MNI London Bureau | +44 203-865-3806 |
MNI London Bureau | +44 203-865-3806 |