Monday 11th May: European Open Briefing

Global Markets:

  • Asian stock market: Nikkei up 1.25 %, Shanghai Composite gained 1.20 %, Hang Seng rose 0.60 %, ASX dropped 0.10 %
  • Commodities: Gold at $1187 (-0.15 %), Silver at $16.42 (-0.30 %), WTI Oil at $59.20 (-0.30 %), Brent Oil at $66.10 (-0.10 %)
  • Rates: US 10 year yield at 2.14, UK 10 year yield at 1.87, German 10 year yield at 0.54

News & Data:

  • PBOC cuts rates by 25 bps
  • China’s PBOC Still Has Room To Ease Monetary Policy — Securities Journal
  • ANZ Looking For The RBNZ To Cut In Both June & July
  • Australia NAB Business Confidence 3.0, Previous: 3.0

CFTC Positioning Data:

  • EUR net short 190K vs 198K short prior
  • JPY net short 31,183 vs 5,493 short prior
  • GBP net short 24,758 vs. 34,128 short prior
  • AUD net long 626 vs 27,405 short prior
  • CAD net short 10,080 vs 20,909 short prior
  • CHF net long 5,331 vs 1,335 long prior

Upcoming Events:

  • 07:00 GMT – German WPI
  • 12:00 GMT – Bank of England Interest Rate Decision
  • 15:00 GMT – US CB Employment Trends Index

The Week Ahead (Key Data/Events):

Tuesday, May 12th

  • 02:30 BST – Australian Home Loans
  • 09:30 BST – UK Industrial Production
  • 09:30 BST – UK Manufacturing Production
  • 15:00 BST – UK NIESR GDP Estimate
  • 17:45 BST – FOMC Member Williams speaks
  • 22:05 BST – RBNZ Governor Wheeler speaks

Wednesday, May 13th

  • 00:50 BST – Japanese Current Account
  • 06:30 BST – Chinese Industrial Production
  • 07:00 BST – German GDP
  • 07:00 BST – German CPI & HICP
  • 07:45 BST – French HICP
  • 08:00 BST – Spanish HICP
  • 09:00 BST – Italian GDP
  • 09:30 BST – UK Unemployment Rate
  • 09:30 BST – UK Average Earnings Index
  • 09:30 BST – UK Claimant Count Change
  • 10:00 BST – Euro Zone GDP
  • 10:00 BST – Euro Zone Industrial Production
  • 10:30 BST – Bank of England Governor Carney speaks
  • 10:30 BST – Bank of England Inflation Report
  • 13:30 BST – US Retail Sales
  • 23:45 BST – New Zealand Retail Sales

Thursday, May 14th

  • 13:30 BST – US Initial Jobless Claims
  • 13:30 BST – US PPI

Friday, May 15th

  • 08:15 BST – Swiss PPI
  • 13:30 BST – US NY Empire State Manufacturing Index
  • 15:00 BST – US Michigan Consumer Sentiment

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