USD: Incremental Multi-Week High For BBDXY In Lieu Of Chinese PMIs & CPI Prints Out Of Europe
May-31 07:59
Fresh multi-week highs for the BBDXY have been registered in recent trade, with another soft round of Chinese economic activity data, this time in the form of official PMIS, adding to the recent trend. This will be feeding through into USD strength via the rest of the world (excluding U.S.) growth channel. Elsewhere, softer than expected CPI readings from France and the German state of NRW are biasing the EUR lower (the weighting of the EUR in the BBDXY is ~31%).
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RBA: MNI RBA Preview - May 2023: RBA On Hold, But Close Call
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- The meeting statement will also include some indication of the updated forecasts, which will be published in full in the Statement on Monetary Policy on May 5. Forecasts are unlikely to be revised significantly from February. The guidance is also unlikely to change substantially.
- See full preview here.
US TSYS: Dip To Session Lows On First Republic - JPM Headlines
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Treasury futures drop to session lows on the First Republic / JPM takeover headlines to 115-01+
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GLOBAL: FDIC Accept JP Morgan Bid for First Republic Bank
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- The Federal Deposit Insurance Corporation accepts JPMorgan Chase’s bid to assume First Republic Bank’s deposits, “including uninsured deposits, and substantially all assets,” according to a statement.
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- https://dfpi.ca.gov/2023/05/01/california-financia...
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