16 Jun 2015
Key events ahead - Rabobank
FXStreet (Guatemala) - Analysts at Rabobank explained the key events that are forthcoming.
Key quotes:
"Next is UK CPI (consensus 0.2% MoM and 0.1% YoY, with core CPI at 1.0% YoY) and PPI (where output core YoY is seen 0.1%), so overall not a lot of fire, and much more ice, on the inflation front, it seems."
"In Germany we have the ZEW survey, which dropped back last month and is expected to do so again this month (consensus: 63 for current situation and 37.3 for expectations). I’d wager risks are to the downside there as the respondents will have been closely watching the rise in EUR/USD and in Bund yields even ahead of the latest round of Greek drama. In Europe we also have several ECB speakers: Mersch, Knot, and Nowotny."
"In the US the Fed starts its two-day meeting, leaving us to wait and wait (as we all must for Season 6 of Game of Thrones) for resolution to the “will they/won’t they/and when?” cliffhanger. Ahead of that we do see housing starts and building permits, which after exploding upwards in April (gains of 20.2% and 9.8%) are expected to drop back in MoM terms (-4.0% and -3.5%, respectively)."
"However, clearly Greece will remain at the forefront of market attention today. As Tywin Lannister said of the Iron Bank: “We all live in its shadow and almost none of us know it. You can't run from them, you can't cheat them, you can't sway them with excuses. If you owe them money and you don't want to crumble yourself, you pay it back." So who, if anyone, will be ‘A Feast for Crows?’."
Key quotes:
"Next is UK CPI (consensus 0.2% MoM and 0.1% YoY, with core CPI at 1.0% YoY) and PPI (where output core YoY is seen 0.1%), so overall not a lot of fire, and much more ice, on the inflation front, it seems."
"In Germany we have the ZEW survey, which dropped back last month and is expected to do so again this month (consensus: 63 for current situation and 37.3 for expectations). I’d wager risks are to the downside there as the respondents will have been closely watching the rise in EUR/USD and in Bund yields even ahead of the latest round of Greek drama. In Europe we also have several ECB speakers: Mersch, Knot, and Nowotny."
"In the US the Fed starts its two-day meeting, leaving us to wait and wait (as we all must for Season 6 of Game of Thrones) for resolution to the “will they/won’t they/and when?” cliffhanger. Ahead of that we do see housing starts and building permits, which after exploding upwards in April (gains of 20.2% and 9.8%) are expected to drop back in MoM terms (-4.0% and -3.5%, respectively)."
"However, clearly Greece will remain at the forefront of market attention today. As Tywin Lannister said of the Iron Bank: “We all live in its shadow and almost none of us know it. You can't run from them, you can't cheat them, you can't sway them with excuses. If you owe them money and you don't want to crumble yourself, you pay it back." So who, if anyone, will be ‘A Feast for Crows?’."