FOREX: Bullish USD Momentum Fades, EURUSD Back to 1.14
* After the first daily decline since the Fed on Thursday, the dollar index is once again creeping...
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US TSY OPTIONS: VBYM261 110.25 Calls Lifted
VBYM261 110.25 calls paper paid 0-05 on 9K. These expire on Monday. OI of 9.6K as of yesterday.
GERMANY: Council of Economic Advisors Downgrades GDP Forecasts
"The German Council of Economic Experts expects German GDP to increase by 0.5% in real terms in 2026. This represents a downward revision of 0.4 percentage points compared to its 2025 Annual Report. This revision is primarily due to the impact of the Iran War. For 2027, the council sees growth of 0.8%. [...] Downside risks to the German GDP forecast include, in particular, a longer duration and more severe impact of the Iran-Iraq War than anticipated". Full release here.
- For context, Bloomberg consensus currently sees 2026 GDP at 0.7%, and 2027 GDP at 1.2%.g
- Consumer price inflation is expected to average 3.0% in 2026 and 2.8% in 2027. Core inflation is expected to be 2.4% in 2026 and 2.9% in 2027 according to the council.
- Most recent German GDP data was released last week for Q1, with the release highlighted by a weak domestic demand figure of -0.9% Q/Q which would be even worse had it not been for government spending (see here).
EURIBOR OPTIONS: Ratio Put Condor
ERZ6 97.56/97.43/97.31/97.18p condor 1x1x2x2, bought for -0.5 (receive) in 5k.
