FRANCE AUCTION RESULTS: IL OATs
Apr-17 10:03
| Coupon | 0.60% | 0.10% | 0.55% | 0.10% |
| Maturity | Jul-34 | Jul-36 | Mar-39 | Jul-53 |
| Instrument | OATei | OATei | OATi | OATei |
| ISIN | FR001400JI88 | FR0013327491 | FR001400IKW5 | FR0014008181 |
| Amount | E824mln | E186mln | E693mln | E294mln |
| Previous | E415mln | E316mln | E719mln | E360mln |
| Avg yield | 1.25% | 1.40% | 1.56% | 1.68% |
| Previous | 1.20% | 1.20% | 1.41% | 1.57% |
| Bid-to-cover | 2.37x | 5.25x | 2.64x | 3.23x |
| Previous | 3.37x | 3.73x | 2.51x | 2.83x |
| Avg Price | 94.32 | 86.58 | 87.48 | 64.77 |
| Low Price | 94.28 | 86.53 | 87.41 | 64.71 |
| Pre-auction mid | 94.150 | 86.463 | 87.252 | 64.397 |
| Prev avg price | 94.73 | 88.33 | 89.03 | 66.62 |
| Prev low price | 94.68 | 88.29 | 88.91 | 66.54 |
| Prev mid-price | 94.542 | 88.118 | 88.809 | 66.243 |
| Previous date | 20-Mar-25 | 20-Feb-25 | 23-Jan-25 | 20-Mar-25 |
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ECB: Rehn: Shouldn't Limit Ourselves To Forecast Meetings
Mar-18 10:02
Q: In the context of uncertainty, how should the CB respond? Will it be easier to deal with this in the June forecast round?
A: We should not limit ourselves by stating publicly or privately that we can only take decisions at forecast meetings. That would limit us to four meetings a year.
- In case trade tensions are amplified and there is a downward impact on growth while inflation impacts are uncertain, there is a risk of undershooting our target. This alternative scenario also needs to be borne in mind, even if not the central case.
- Data dependency not backward looking, it is forward looking not least because the price stability target is set over the medium term.
FOREX: Euro Optimism Prevailing as German Fiscal Vote Beckons
Mar-18 10:01
- The noted European equity strength has also been underpinning single currency outperformance this morning, as EURUSD notably printed a fresh recovery high of 1.0955 ahead of the German fiscal vote this morning. Spot rising above the bull trigger at 1.0947 strengthens the current uptrend and signals scope for a move towards pivot resistance at 1.10 and a more notable cluster of medium-term resistance around the 1.12 mark.
- Another standout is EURJPY with a 0.65% session gain at typing. Both legs of the trade have been working in tandem as the European risk-positive sentiment also weighs on the Yen. Sustained clearance of initial resistance at 164.08 should pave the way for a move to 164.90, the Dec 30 high.
- Recall that the Bundestag session is underway, having started at 10:00 CET/09:00 GMT, with the debate surrounding the amendments to the relevant fiscal laws scheduled to start at 10:35 CET/09:35 GMT.
MNI: GERMANY ZEW MAR ECONOMIC EXPECTATIONS 51.6
Mar-18 10:00
- MNI: GERMANY ZEW MAR ECONOMIC EXPECTATIONS 51.6
- MNI: GERMANY ZEW MAR CURRENT CONDITIONS -87.6
