FOREX: EUR/USD Sales Lead Latest Phase of USD Rally
Oct-02 15:22
The USD gaining further ground through the London close, with USD buying most evidence against the EUR on the latest leg. Move comes despite a stabilisation in the US yield curve, with the US 10y yield seemingly consolidating around 4.10%.
- EUR slippage puts EUR/USD through to new weekly lows, with the move accelerating on the break of both 1.1712 and 1.1696 - both intraday retracements for the bounce of last week's lows.
- Despite the EUR weakness in recent trade - the single currency is pretty mixed, with NOK and AUD both lower on a relative basis. Central bank speak remains in focus ahead, with ECB's Villeroy & de Guindos set to speak after the European close, and Fed's Goolsbee to appear on Fox Business in just over 3 hours.
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UK FISCAL: Report-Treasury Has Not Yet Given OBR 10-Week Budget Notice Period
Sep-02 15:20
Hugo Gye at The i Paper posts on X: "No10 has just confirmed that the Budget won't be before mid-November at the earliest. Treasury has not yet given the OBR the ten-week notice period that it needs to prepare an updated economic and fiscal forecast."
- MNI noted on 28 August, "As we have moved into a November / December Budget looking probable, there will be no further constraints from CPI (September figures used to uprate benefits), party conferences or parliamentary recesses etc. We still assume that the Budget will take place on a Wednesday which would make 12 November the earliest potential date ...This means that it would be later than the November MPC meeting and MPR release - and in our view keeps a potential December cut on the table." (see 'UK FISCAL: November (or December) Budget?", 28 August)
FED: US TSY 13W AUCTION: NON-COMP BIDS $2.217 BLN FROM $82.000 BLN TOTAL
Sep-02 15:15
- US TSY 13W AUCTION: NON-COMP BIDS $2.217 BLN FROM $82.000 BLN TOTAL
FED: US TSY 26W AUCTION: NON-COMP BIDS $1.759 BLN FROM $73.000 BLN TOTAL
Sep-02 15:15
- US TSY 26W AUCTION: NON-COMP BIDS $1.759 BLN FROM $73.000 BLN TOTAL
