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Softer US inventories boosted oil prices, but equities fell amid concerns about the health of the retail sector. The US data drought goes on but that leaves Treasury yields lower, 10-year TIIPs yields once again flirting with the 10bp area and the

As expected, the Bank of England’s (BoE) policy decisions kept both the Bank Rate and stock of purchased assets unchanged at 0.50% and GBP375bn, respectively. Both votes were unanimous (9-0). Some of the initial GBP appreciation is likely linked to

Deutsche Bank sees EUR/USD finishing the year at 1.05 now vs 1.00 previously Yesterday BAML threw in the towel on a year end call for euro parity, today's it's Deutsche Bank. Their view of a stronger US dollar trajectory remains intact and they

We are revising our EURUSD forecast path moderately higher in recognition of two significant developments since the start of the year. First , the increasingly apparent limitations of central bank policy and the resulting ECB shift away from negative

Christine Lagarde's IMF will tell us all exactly what will happen in the case of the UK voting to leave the EU Lagarde was waffling on a little earlier in response to the headlines posted a while back. Most notable was that she said the IMF will

Goldman Sachs abandons short-gold trades There's nothing better than being on the other side of a Goldman Sachs trade idea. The latest example is gold, which they've been forecasting would fall to $1000 since September. Instead, it's been one of the

Canadian official says G7 meeting to focus on world economic risks What are those risks? If I had to guess, I'd say deflation, low commodity prices and the lack of government spending. The problem is that every government thinks the other guy should

The deviation of USD from levels that are consistent with gauges of the relative Fed hawkishness like the spread between US 2Y rates and the G9 average has widened to record levels recently.  The USD is cheap and we believe that some of the

The Fed’s Rosengren said last night that the market is ‘too pessimistic’ about the US economy and the likelihood of the central bank removing accommodation is higher than currently priced in. We agree. To us, it appears that a significant part of the

FX strategy at GS has traditionally been Dollar bearish.  The rationale was that the dual mandate of the Fed makes it structurally more dovish than the ECB or BoJ, while underlying current account positions are a drag on the Dollar and a boost

UniCredit Bank have announced an upgrade to their euro exchange rate forecasts, a significant call as we note the accuracy of this bank’s recent forecasts on the currency pair. ‘Peak dollar’ has passed EUR/USD targets upgraded to above 1.20 for

Don't trade like you're at an all-you-can-eat buffet By Boris Schlossberg at BKForex Is there anything more quintessentially American than the all you can eat buffet bar? The idea that you can just eat an endless supply of food until you finally give

David Hunt, chief executive officer of Prudential Financial Inc.’s $1 trillion asset manager, said the search for 10 percent returns can be dangerous for investors. “The fact that people are unrealistic is actually creating risky behavior in the way

ECB sources from MNI * Look for 'wait and see' tone, it's not clear if more action is needed * No consensus on tools for more stimulus if needed * All options still open, including helicopter money * Helicopter money 'stupid and unfortunate

Hedge fund titan Stanley Druckenmiller lambasted Federal Reserve policy at an appearance at the Ira Sohn conference and said that his best advice is to sell stocks and buy gold. He argued that easy money in the US has allowed companies to thrive

In macro rates space, our views include the following: 1. In the US, there is scope for 2-year yields to continue to climb higher, extending a trend started in 2013.  We would regard yield levels at or below 70bp on the benchmark 2-year T-Note

EUR/USD Started To Look Stretched: Where To Target? - BNPP BNPP took profit on its long EUR/USD yesterday at 1.16 target locking in a profit of 2.7% advising not to chase the pair higher from here. We believe USD positioning is getting increasingly

Last week Q1 euro area growth rose 0.6% q/q, up from 0.3% q/q in Q4, beating market expectations of a 0.4% q/q increase. Although there is no breakdown of the data available as yet, the release suggests that the ECB unconventional monetary stimulus –

USD/JPY has extended its bounce after seeing a test of key support at 105.48/19 – the late 2013 high and October 2014 low, notes Credit Suisse Techs. "We continue to allow for a corrective phase here, with near-term resistance pegged to 107.64 at

BofA:   Nonfarm payroll growth likely posted a solid 200,000 in April,  driven once more by service-providing firms .  Of this, government hiring likely contributed 5,000, which is a more modest clip than the 20,000 pop in March. We