EM CEEMEA CREDIT: Nigeria: IMF’s Art IV Consultation ended, neutral
Jul-02 14:15
(NGERIA; B3/B-/B) * With spreads already near the local lows, neutral read from the latest IMF pres...
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FOREX: Fresh Phase of USD Sales Put EUR, JPY Toward Key Breakout Levels
Jun-02 14:09
- EUR/USD pressuring intraday highs on the back of the ISM manufacturing print - the dip in the 10y yield helping aid the move lower in USD across the board, but only EUR/USD and USD/JPY are testing session highs/lows.
- Clearance of 1.1438 puts the pair at the highest since mid-April, narrowing the gap with the 1.1573 bull trigger. For USD/JPY, support has broken at typing, with the pair inside ~40 pips of 142.12 key support.
US TSYS: Stagflatonary ISM Narrative Limits Post-Data Reaction
Jun-02 14:09
A softer-than-expected headline ISM manufacturing survey provides a very light bid, although the underlying stagflationary narrative remains intact with a prices paid component remaining above 69.0 limiting the rally.
- TYU5 adds 0-05+ to 110-24+ following the data before fading back to 110-20+.
- The contract remains within the pre-existing session range (110-18/30).
- Initial support and resistance located at 109-26 & 110-30, respectively. Recent gains still appear corrective at this stage.
- Yields 2.0-3.5bp higher on the day, light bear steepening theme on the curve.
MNI: US APR CONSTRUCT SPENDING -0.4%
Jun-02 14:00
- MNI: US APR CONSTRUCT SPENDING -0.4%
- US APR PRIVATE CONSTRUCT SPENDING -0.7%
- US APR PUBLIC CONSTRUCT SPENDING +0.4%
