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Oct-01 07:48

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Historical bullets

USD: USDSEK edges toward the 2025 low

Sep-01 07:45
  • The Dollar is paring back some of its Overnight losses, edging in the green against the JPY, and the CAD.
  • The EUR was and still is the best performer, but by 0.27% now, some 16 pips off the high for the EURUSD.
  • As noted on the European early session, the chart to watch was the USDSEK, and this is still the case as USDSEK continues to print new intraday low.

MNI: ITALY AUG MANUF PMI 50.4 (49.8 FCAST, 49.8 JUL)

Sep-01 07:45
  • MNI: ITALY AUG MANUF PMI 50.4 (49.8 FCAST, 49.8 JUL)

EURIBOR OPTIONS: J.P.Morgan Recommend Conditional Bull Steepener

Sep-01 07:36

J.P.Morgan recommended initiating Dec25/Dec26 conditional bull steepeners (buying ERZ5 98.0625 calls vs. selling 0RZ5 98.0625 calls) late on Friday.

  • They noted that “with the ERZ5/Z6 curve now inverted, we have a bias towards some steepening. We believe that if increased ECB easing expectations are priced into the curve it will likely be front loaded into 4Q25 or 1Q26”. They also noted that “the Dec25/Dec26 curve exhibits a strong negative directionality versus yields and is currently too flat on a 3-month regression basis”.