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EUROPE
Germany’s AfD prepares 2017 assault on Merkel
and Co. – Politico
GDP up by 0.6% in the
euro area and by 0.5% in the EU28 – Eurostat
Euro area annual
inflation down to -0.2% - Eurostat
Euro area unemployment
down to 10.2% - Eurostat
Lower inflation,
stronger growth, ECB to retain easing bias – Nordea
EZ GDP above pre-crisis
peak as growth surges past U.S., Britain – Reuters
Draghi Challenge
Highlighted as Inflation Rate Back Below Zero – BB
Mixed euro area data -
still pressure on the ECB due to low inflation – Danske
Bank
UNITED STATES
The Fed is primed by
financial markets to change their story. If the data shifts as well, they will
be looking hard at June. I don’t think the data will line up in time, but the
possibility should be on your radar ... Remember, the Fed can turn hawkish as
quickly as it turned dovish.
US Q1 growth
disappoints, but improvement likely – Pictet
GDP review: Déjà vu -
don’t extrapolate weakness in Q1 – Nordea
OTHER
Do You Believe Six Impossible Things before
Breakfast? – Marc
Chandler
Unmasking the Men Behind Zero Hedge – BB
El-Erian: Bank of Japan Finds It Can't Win – View
/ BB
REGULARS
Downbeat sentiment, JPY main gainer,
eyes on Euro-area inflation and GDP * Euro-area inflation back in negative
territory * Yields on a trajectory lower, with Fed, ECB and long dated supply
behind us * The JPY keeps rising, USD lower on weak Q1 GDP
A very disappointing first-quarter
GDP in the US has added yet more fuel to the yen rally pushing USDJPY to an
18-month low and ever closer to the key 107.00 mark.
Dollar Losses Extended Ahead of the
Weekend
Will a Canadian ratings agency
dictate the dollar's fate?
The weakness seen in the
greenback is reflected in a number of charts from commodities to the USDJPY to
the USDBRL. At the moment however the pickup in fund flows to emerging markets
is perhaps the most notable consequence.
Brexit economists argue
UK would prosper outside EU under unilateral free trade * Commission Vice
President: We won’t be blackmailed by Turkey on migrant deal * Eurozone grows
by 0.6% in first quarter * Diplomatic row erupts over Austrian plans to build a
fence on border-pass shared with Italy * Regional assembly could block Belgium
from ratifying EU-Canada free trade deal * Eurogroup meeting on Greek bailout
re-scheduled * German draft bill to cut social benefits for EU citizens
welcomed by media * Germany’s populist AfD set to adopt anti-Islamic manifesto
at congress this weekend * Leaked document: EU leaders opposed re-run of ‘lead
candidates’ which saw Juncker ‘elected’ to Head of Commission in 2014
What Belgian police knew
before attacks — Commission emissions
US Open – ZH
USDJPY Plunges As Dollar Drops To 11
Month Lows, Commodities Rise
USDJPY pushed to new
lows despite a holiday in Japan overnight while EURUSD is up teasing the key
1.1400 area resistance as both Europe and the US report key inflation measures
today.
A weaker US dollar is
greasing the wheels of an oil-led rally in commodities and the rally will be
stoked for as long as the greenback remains soft. The yen extended its gains
against the dollar overnight with USDJPY reaching fresh lows.
FINLAND
& FINNISH
Venäjän
keskuspankki ei uskalla keventää * USA:n talouskasvu hidastui odotettua enemmän
* Euroalueen talouskasvu piristyy hieman * Euroalueen inflaatio jää nollan
alapuolelle