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MNI EUROPEAN MARKETS ANALYSIS: RBNZ Easing Odds Lower Post Firmer Jobs Data

  • Dovish remarks from the Deputy BoJ Governor, that the central bank won't raise rate if markets are unstable, has weighed heavily on the yen and driven a broader recovery in equity risk appetite.
  • NZ jobs data was stronger than expected, seeing RBNZ easing odds lowered for next week. China trade data was mixed, but import volumes of key commodities still appear to be on a slowing trend.
  • US Tsys futures opened the session slightly higher today before turning lower on headlines out of Japan.
  • Later the Fed’s Collins and ECB’s McCaul appear. US June consumer credit, German June IP & trade and Canadian July PMI are released as well as BoC’s summary of deliberations.

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  • Dovish remarks from the Deputy BoJ Governor, that the central bank won't raise rate if markets are unstable, has weighed heavily on the yen and driven a broader recovery in equity risk appetite.
  • NZ jobs data was stronger than expected, seeing RBNZ easing odds lowered for next week. China trade data was mixed, but import volumes of key commodities still appear to be on a slowing trend.
  • US Tsys futures opened the session slightly higher today before turning lower on headlines out of Japan.
  • Later the Fed’s Collins and ECB’s McCaul appear. US June consumer credit, German June IP & trade and Canadian July PMI are released as well as BoC’s summary of deliberations.

Keep reading...Show less