GILT AUCTION RESULTS: 1.50% Jul-53 Green Gilt

EURIBOR FIX - EMMI/Bloomberg

• EUR001W 2.8980 -0.0030
• EUR001M 2.8350 0.0430
• EUR003M 2.7570 0.0260
• EUR006M 2.5850 0.0310
• EUR012M 2.4870 0.0390

• Markets are continuing to pare ECB easing bets following the stronger-than-expected data releases across the Eurozone PMIs and the German inflation print for Hesse. As such, the Euro is rising and is among the best performers in G10.
• EURUSD has gained momentum back above the prior breakout level of 1.0335, briefly taking the pair to an intra-day high of 1.0369. Overall, the trend needle continues to point south, and initial firm resistance is at 1.0414, the 20-day EMA.
• EURJPY is standing out, rising 0.75% at typing amid the notable weakness for the Japanese Yen overnight. We have traded above the Jan 02 high while the focus will be on 165.04, the Nov 15 high and a key short-term resistance.
• The dollar has started the week on the back foot, with higher beta currencies such as GBP, AUD, NZD and CAD all benefitting. This brings the USD index pullback to ~0.9%, following the new two-year high made last week of 109.53.
• There will be particular focus on the Canadian dollar as betting markets shift to 95% probability of imminent PM Trudeau resignation. USDCAD is down 0.5% on the session with pullback seen as technically corrective at this juncture.  Initial firm support to watch lies at 1.4320, the 20-day EMA.
• German national-level HICP & CPI inflation is scheduled to be released later today 13:00 GMT. US Final Services PMI and Factory Orders are due for release, and FOMC Member Cook will speak.

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