#Goodmorning from #IronFX Hope you have a great day! Here are the #IronFX main points for today by Marshall Gittler: • USD continues to rise even as US yields continue to decline – Part of USD strength is probably due to EUR weakness – Dollar also rising as US economic indicators surprise on the upside • US yields falling as investors pare bearish bets – Investors were short in anticipation that stronger growth, tapering and approaching Fed rate hikes would push yields higher. Now having to get back up to benchmark. – Looks like official rates everywhere will peak at low levels relative to history – With European bonds rallying on expectations of ECB easing, Treasuries still have a yield advantage • JPY rallies despite worse-than-expected April retail sales • AUD rallies on improvement in 2014/15 investment expectations – Substantial increase in service-sector investment expectations suggests other sectors may be able to take over as engine of growth as mining sector slows • GBP ignores Weale comments in FT about need for higher rates • Today: – US: US 2nd estimate of 1Q GDP likely to be revised down to qoq decline; 1Q GDP not so important now as 2Q data has been pretty good so far. Initial jobless claims expected to fall; pending home sales for April expected to slow
Posted on: Thu, 29 May 2014 06:15:07 +0000
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