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Updated: 1 hour 37 min ago
And today sterling seems to be "winning" that race
Both currencies are in a contest to see who is the worst performer today, and right now the pound is edging out the euro by just a tad bit.
ECB member Ewald Nowotny speaks in Prague
Yup, surely not overheating that's for sure. And I don't think the market is expecting any "dramatic" rise in inflation but a slow and steady inch higher will at least provide some form of confidence that the ECB's policy direction is in fact justified. Right now, it's erring more
Japanese prime minister Shinzo Abe speaks in Tokyo
Abe once again reaffirming what he expects from the BOJ. And this is what puts pressure on Kuroda and co. to maintain the facade that they are moving closer towards the inflation target - even if the data suggests otherwise.
Italy president Mattarella is to meet with leaders from the two parties
Mattarella will first meet with Di Maio at 1630 GMT followed by Salvini at 1700 GMT. It is expected that the meetings should settle the issue of who the premier of the coalition government will be.
Comments by China's foreign ministry spokesman Lu Kang
Not exactly very convincing and relieving words there - especially on the last one. While the market is buoyed by the "progress" made over the weekend, there's still no outline of a concrete plan to actually resolve the differences between the two for now. Or at least not
It's not looking good again in the EM space
The dollar is crushing it once again as it is steamrolling over EM currencies today. Aside from those pegged, all other EM currencies are lower against the dollar in trading thus far.
Comments by IEA chief Fatih Birol
Without a doubt the fall in Venezuela's oil production this year has had a significant impact on oil prices thus far. It's one of those behind-the-scenes kind of thing, but it's an added support the OPEC narrative that we could be seeing an end to the oil glut.
No stopping the greenback in the new week
Sure didn't feel like it was long ago that we were talking about the (blue line) and now we're here already. The index is up by 0.4% on the day now, with the figure level here providing a bit of resistance with the key level eyed now
While UK's FTSE index opens at a new record high
The exit in Italian assets continue with stocks and bonds sliding at the open. The rough ride continues into the new week in Italy. Other major indices are holding up well on the back of improved risk sentiment though.
GBP/USD touches a low of 1.3417 on the day
The dollar is not showing much mercy as we begin the week, with the greenback now extending gains against the sterling, euro, and yen as we get the session going. It's a bit of a lighter trading day in Europe as some major markets are closed, but
USD/TRY rises to record high once again
The Turkish lira is now down by more than 1% on the day against the US dollar, and the currency continues to weaken further as uncertainty continues to mount on whether or not the CBRT is going to proceed with an emergency rate hike.
Daily thread to exchange ideas and to share your thoughts
Howdy, everyone! How're you all doing today? It's a bit of a slow one as we get the trading week started. Major European markets are closed (France, Germany, Switzerland) so expect liquidity to be a lot thinner than usual today. There's nothing major on the calendar front as
The Euro is going to come under increasing pressure with questions being raised over the intentions for staying in the Euro. If you thought the risk of Euroexit had disappeared, think again.
European equity futures following the positive tone in Asian trading
DAX futures aren't up as they're not trading today. German markets (along with financial institutions in France and Switzerland too) are closed in observance of Whit Day.
Tokyo's main index closes higher on the day
Asian stocks are buoyed by positive risk sentiment arising from a trade truce between US and China after talks in Washington over the weekend. The Hang Seng is the leading gainer so far, up by more than 1% on the day.
According to Mei Xinyu, a researcher at the Ministry of Commerce
More on that . China and the US has reached a somewhat truce in trade talks in Washington over the weekend, and risk assets are cheering that on so far today.
UK April retail sales data release is due on 24 May
And it's not going to be a report that will help to convince the market that the UK economy is headed for improvement in Q2. Expectation is for core retail sales (ex autos and fuel) to come in at +0.4% y/y while the headline retail
AUD/NZD helps to lift the aussie while at the same time suppress the kiwi in trading so far
The aussie and loonie are the two commodity currencies at the head of the pack today, but the kiwi is somewhat lagging behind. That owes quite a bit to the AUD/NZD cross once again.
The firm's Singapore head of strategy for fixed income and currencies, Nizam Idris, spoke to Bloomberg TV earlier
A stronger dollar itself wouldn't be too major a concern to EM currencies in Asia considering how they performed against the greenback last year.
Gold continues to cling on to key support level
Support in the form of the 61.8 retracement level @ $1,286.06 is helping to stall declines for the past few days and with gold trading lower again this level will be the one to watch for once again in trading today.While buyers are managing to stall the