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Wednesday, May 11

11th May - Boring

Previously on MoreLiver’s:

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Danske DailyDanske Bank

Euro rates updateNordea

Oil price up, 10-year Bund yield approaching 10bp, new financial forecasts * Few data out today apart from UK industrial production * Ultra-long yields rise on more 50-year supply * Commodity currencies supported by the rise in oil prices

Morning MarketsTF
Both oil benchmarks climbed overnight retracing nearly all the losses from Monday but risk off is the underlying theme in markets.

Daily Market Comment Marc Chandler
Yen Recovers After Being Thrown for 2%

Daily Market Comment Macro Man
Everything wrong with the Eurozone summarized in one chart

Daily Market CommentPolemic’s Pains
The Glorious 11th

Daily ShotTF
A new suite of reports from Deutsche Bank paints an interesting portrait of China. The German financial giant is more bearish than the consensus on GDP growth while noting that the impact of the recent stimulus will probably be fairly brief.

Daily Press SummaryOpen Europe
Poll: Economy edges immigration in importance for Brexit campaign * European Parliament on crash-course with Erdogan over visa-free travel for Turks * Germany to maintain border controls until EU’s external borders sealed * 2 out 3 Germans against Merkel staying on as Chancellor after 2017 elections * Hollande bypasses parliament to push through controversial labour bill * UK sees record high trade deficit with EU in goods * More refugees now entering Europe via Italy than Greece * German financial regulator warns of low rates’ impact on banking and pension industries * ECB asks Eurozone banks to detail potential impact of Brexit * Greek PM upbeat on bailout progress as Germany seen softening stance on IMF role

Brussels PlaybookPolitico

US Futures, European Stocks Drop As USDJPY Tumbles’


FX UpdateTF
EURUSD and USDJPY both mounted assaults on key levels yesterday but have so far held the line suggesting that the near-term outlook for the greenback remains uncertain amid a lack of USD catalysts.

From the FloorTF
The US dollar's rally has stopped short of a full reversal and the major dollar pairs EURUSD and USDJPY could be set to test lower says Saxo Bank's John J Hardy. Elsewhere farm commodities have surged while crude oil is stuck between the contradictory drivers of supply outages and rising inventories.

Perjantai testaa kasvua povaavat ennusteet * USA:ssa avautuu uusia työpaikkoja kovalla tahdilla ä * Saksan teollisuustuotanto notkahti * Koroissa maltillisia liikkeitä – paitsi Kreikassa