POWER: NTE, Siso Energi Sign 10-Year PPA

• EUR/USD: $1.1250($1.4bln), $1.1300-05(E1.9bln), $1.1345-50(E1.9bln)
• EUR/JPY: Y159.50(E500mln)
• AUD/USD: $0.6400(A$856mln), $0.6425-45(A$789mln)

Riksbank Governor Thedeen speech on "Monetary policy communication in practice" is here: 

Little in the way of commentary ahead of the June 18 decision. But that's not surprising given the content and context of the speech. Thedeen highlights that the current outlook "has led several central banks, including the Riksbank, to emphasise more than before that monetary policy will be determined by new information on the outlook for the economy and inflation. Moreover, some central banks have basically stopped talking about monetary policy going forward"

• "The Riksbank publishes interest rate forecasts because we want to be transparent and provide information that makes it easier to understand how we normally act, which should not be interpreted as information on exactly what we will do"
• "On this basis, it is natural for us to change our interest rate forecast. If conditions change, we may need to adjust monetary policy to keep inflation low and stable".
• "It is important that the uncertainty in the central bank's assessments is recognised and that households, businesses and market participants understand that it exists,” said Mr Thedéen. He thought that this was particularly true for the guidance on future monetary policy, where experience has shown that such guidance can be interpreted as more certain statements than central banks have intended.
• "The Riksbank has continued to publish interest rate forecasts. But we have made some changes to address the communication challenges we have faced, including the communication of the interest rate forecast. We are also now emphasising alternative scenarios more in our communication"

• In the equity space, the trend condition in S&P E-Minis remains bullish. Last Thursday’s initial gains delivered a print above 5993.50, the May 20 high and a bull trigger. The break highlights a resumption of the uptrend and maintains a price sequence of higher highs and higher lows. 6000.00 has been pierced, an extension would open 6057.00 next, the Mar 3 high. Key support lies at 5742.22, the 50-day EMA.
• The trend cycle in EUROSTOXX 50 futures is unchanged, it remains bullish and recent weakness appears corrective. Moving average studies are in a bull-mode position, highlighting a clear dominant uptrend. Sights are on 5516.00, the Mar 3 high and the key bull trigger. Clearance of this level would strengthen a bull theme. Key support to watch lies at 5254.09, the 50-day EMA. A clear break of this average would signal a possible reversal.