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MNI EUROPEAN MARKETS ANALYSIS: GBP Weighed By Dovish Bailey

MNI (SYDNEY)
  • The USD has continued to track higher, with weakness in Hong Kong and China related equities weighing on higher beta plays. GBP has faltered through the London/Asia Pac cross over amid dovish headlines from BoE Governor Bailey, see below.
  • US Tsys futures are trading in tight ranges today, while bonds have mostly been steady elsewhere. BoJ rhetoric has been balanced, with board member Noguchi clearly leaving scope for higher policy rates but not giving a sense of urgency around a near term move.
  • Oil prices have been relatively steady despite lingering Middle East concerns.
  • Looking ahead, focus turns to Weekly Claims, Factory/Durable Goods Orders and ISM Services.
  SpotChange (Price)Change (%) FuturesChange (Price)Change (%)
  One-dayOne-week One-dayOne-week
 EURUSD1.1027-0.0018-0.16%-1.34%US 10Yr114-12-0-1+-0.04%-0.03%
 GBPUSD1.3182-0.0086-0.65%-1.74%Bund135.20.060.04%0.53%
 USDJPY146.610.140.10%1.24%Gilt98.080.000.00%-1.30%
 AUDUSD0.6863-0.0022-0.32%-0.48%OAT127.2500.00%0.76%
 NZDUSD0.6234-0.0029-0.46%-1.49%BTP121.600.00%0.25%
 USDCAD1.35240.00220.16%0.44%JGB144.95-0.1-0.07%0.03%
 USDCNH7.04490.00850.12%1.03%AU 10Yr95.985-0.065-0.07%-0.06%
  FuturesChange (Price)Change (%) FuturesChange (Price)Change (%)
  One-dayOne-week One-dayOne-week
 S&P5005748.3-12-0.21%-0.97%WTI71.060.961.37%5.01%
 EuroStoxx504957-26-0.52%-1.94%Brent74.810.911.23%4.48%
 DAX19204-101-0.52%-0.95%Gold2647.100.000.00%-0.87%
 FTSE-1008342-1-0.01%0.07%Silver31.90-0.03-0.08%-0.41%
 Nikkei 225385708202.17%-0.23%Copper464.6-0.30-0.06%1.42%
 CSI 3004122.8000.00%16.36%Corn432.80.30.06%4.72%
 Hang Seng22230-229-1.02%11.00%Soy1049.3-6.75-0.64%0.79%
 Time (AEST):15:53        

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BOE: Bailey says if inflation good new continues, can be "a bit more activist"

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MNI (SYDNEY)
  • The USD has continued to track higher, with weakness in Hong Kong and China related equities weighing on higher beta plays. GBP has faltered through the London/Asia Pac cross over amid dovish headlines from BoE Governor Bailey, see below.
  • US Tsys futures are trading in tight ranges today, while bonds have mostly been steady elsewhere. BoJ rhetoric has been balanced, with board member Noguchi clearly leaving scope for higher policy rates but not giving a sense of urgency around a near term move.
  • Oil prices have been relatively steady despite lingering Middle East concerns.
  • Looking ahead, focus turns to Weekly Claims, Factory/Durable Goods Orders and ISM Services.
  SpotChange (Price)Change (%) FuturesChange (Price)Change (%)
  One-dayOne-week One-dayOne-week
 EURUSD1.1027-0.0018-0.16%-1.34%US 10Yr114-12-0-1+-0.04%-0.03%
 GBPUSD1.3182-0.0086-0.65%-1.74%Bund135.20.060.04%0.53%
 USDJPY146.610.140.10%1.24%Gilt98.080.000.00%-1.30%
 AUDUSD0.6863-0.0022-0.32%-0.48%OAT127.2500.00%0.76%
 NZDUSD0.6234-0.0029-0.46%-1.49%BTP121.600.00%0.25%
 USDCAD1.35240.00220.16%0.44%JGB144.95-0.1-0.07%0.03%
 USDCNH7.04490.00850.12%1.03%AU 10Yr95.985-0.065-0.07%-0.06%
  FuturesChange (Price)Change (%) FuturesChange (Price)Change (%)
  One-dayOne-week One-dayOne-week
 S&P5005748.3-12-0.21%-0.97%WTI71.060.961.37%5.01%
 EuroStoxx504957-26-0.52%-1.94%Brent74.810.911.23%4.48%
 DAX19204-101-0.52%-0.95%Gold2647.100.000.00%-0.87%
 FTSE-1008342-1-0.01%0.07%Silver31.90-0.03-0.08%-0.41%
 Nikkei 225385708202.17%-0.23%Copper464.6-0.30-0.06%1.42%
 CSI 3004122.8000.00%16.36%Corn432.80.30.06%4.72%
 Hang Seng22230-229-1.02%11.00%Soy1049.3-6.75-0.64%0.79%
 Time (AEST):15:53        

MARKETS


BOE: Bailey says if inflation good new continues, can be "a bit more activist"

Keep reading...Show less