Global Yields Break Lower

By CurrenciesMay 29, 2014 07:15AM ET

www.investing.com/analysis/global-yields-break-lower-214373

Global Yields Break Lower

By | May 29, 2014 07:15AM ET

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Market Brief
FX was subdued in the Asia session with price action contained in Gold and Silver. Regional equity indices were little changed as news flow grinded to a halt. The Nikkei rose to 0.07%, the Shanghai Composite fell -0.28% while the Hang Seng was flat. After a sharp fall in US hours, treasury yields were unchanged with the 10 years holding at 2.43%. European peripheral bonds rose after a weak German employment and Money supply data supported expectations for ECB easing. AUD/USD rose to 0.9302 from 0.9220 in response to stronger than expected CAPEX survey results for 2014/2015. AUD/NZD continues to improve breaking above key resistance at 1.0890. USDJPY dipped marginally to 10166 despite reports that retail sales plunged. Sell pressure on EUR/USD eased slightly as the pair based around the 1.3600 handle. EM FX was mixed, as USD/INR is down somewhat, trading at 58.88. Heading into Europe Gold and silver became very active. Gold fell sharply to $1252 while silver collapsed to $18.858.

G10 Advancers - Global Indexes

Overnight Data

Out of Japan, BoJ board member Sayuri Shirai stated that proactive monetary stimulus will be enforced as the banks central 2% target remains fluid. Japan’s retail sales collapsed -13.7% m/m in April, the quickest pace in 14 years. Large retailers' sales dropped -6.8% in April after solid rise of 16.1% the previous month. From Australia, private capital expenditure fell 4.2% weaker than consensus at 1.5%. Yet , total capex survey results for 2014/2015 was better than expected at A$137bn, much better than expectations around A$128bn. In addition, the composition of the data suggests a healthy shift from mining to other industries.

US GDP in focus

For today, traders will be focused on US Q1 GDP expected at -0.5% from 0.1% prior result. The winter weather clearly has had a stronger adverse effect than previously thought. However, the Fed has made it very clear they see the weak trend in Q1 growth as a one off and should be overlooked. Hence there will be no adjustment to forward expectations and no implication on policy. In the European session, Spanish GDP is expected to be confirmed at 0.4% q/q in Q1.

Todays Calendar of Events

Currency Tech

EUR/USD
R 2: 1.3624
R 1: 1.3610
CURRENT: 1.3591
S 1: 1.3584
S 2: 1.3564

GBP/USD
R 2: 1.6746
R 1: 1.6730
CURRENT: 1.6704
S 1: 1.6704
S 2: 1.6683

USD/JPY
R 2: 102.15
R 1: 101.95
CURRENT: 101.56
S 1: 101.46
S 2: 101.00

USD/CHF
R 2: 0.9004
R 1: 0.8990
CURRENT: 0.8981
S 1: 0.8967
S 2: 0.8952

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Central Banks

Interest Rates

Next Meeting

FED

4.50%

Mar 19, 2025

ECB

2.65%

Mar 06, 2025

BOE

4.50%

Mar 20, 2025

SNB

0.50%

Mar 20, 2025

RBA

4.10%

Apr 01, 2025

BOC

3.00%

Mar 12, 2025

RBNZ

3.75%

Apr 09, 2025

BOJ

0.50%

Mar 19, 2025

CBR

21.00%

Mar 21, 2025

RBI

6.25%

Mar 10, 2025

PBOC

3.10%

BCB

13.25%

Mar 19, 2025

US 30	42,654.5	+75.7	+0.18%
US 500	5,757.1	+18.6	+0.32%
Dow Jones	42,579.08	-427.51	-0.99%
S&P 500	5,738.52	-104.11	-1.78%
Nasdaq	18,069.26	-483.48	-2.61%
S&P 500 VIX	24.87	+2.94	+13.41%
Dollar Index	104.090	-0.090	-0.09%

Crude Oil WTI	66.43	+0.07	+0.11%
Brent Oil	69.60	+0.18	+0.26%
Natural Gas	4.263	-0.015	-0.35%
Gold	2,912.10	-14.50	-0.50%
Silver	33.165	-0.173	-0.52%
Copper	4.7890	+0.0142	+0.30%
US Soybeans	1,028.13	-0.13	-0.01%

U.S. 10Y	4.255	-0.027	-0.63%
U.S. 30Y	4.559	-0.020	-0.44%
U.S. 5Y	4.035	-0.023	-0.57%
U.S. 3M	4.329	+0.018	+0.42%
US 10Y T-Note	110.81	+0.03	+0.03%
Euro Bund	127.80	-0.05	-0.04%
10-2 Yield Spread	27.17	+1.56	+6.09%

Apple	235.33	-0.41	-0.17%
NVIDIA	110.57	-6.73	-5.74%
Alphabet A	172.35	-0.67	-0.39%
Tesla	263.45	-15.65	-5.61%
Amazon.com	200.70	-7.66	-3.68%
Netflix	906.36	-84.56	-8.53%
Meta Platforms	627.93	-28.54	-4.35%

Global Yields Break Lower

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