Trial now
FRANCE T-BILL AUCTION PREVIEW

E5.3-6.5bln of BTFs on offer next week

GILTS

2s/10s now flattest since 12/05

SHORT-STERLING OPTIONS

Call spread buyer

SILVER TECHS

Needle Still Points South

FOREX
FOREX: Slow start to a busy week
-The BoJ, Fed and BoE meetings this week will be the focus for markets and, as
such, this morning's been a quiet one, with just Swedish GDP providing FX with
any direction. Q2 Swedish GDP grew twice as fast as expected (1.0% vs. Exp.
0.5%), sending EUR/SEK lower by 0.6% to touch the lowest levels since July 9th.
German regional CPI numbers have been non-directional and appear to confirm that
national German CPI numbers later today will be broadly inline with
expectations.
-CAD and AUD are the weakest in G10 FX despite slightly firmer commodity prices
and somewhat positive NAFTA headlines from White House adviser Hassett over the
weekend.
-Dollar trades mixed to slightly lower and well within last week's range, but
today's pending home sales numbers could provide short-term direction.
-Today's focus unlikely to be on data releases however, with BoJ's decision
overnight (seen as a 'live' meeting) the focal point for FX traders.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com