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EUROPE
Merkel's Weak-Euro
Complaint Has Two Goals – BB
Hans-Werner Sinn: How
Macron Can Unite Europe – Project
Syndicate
Emmanuel Macron plunges
head-first into labor reform – Politico
France, Germany Push for
Tax Harmony – Handelsblatt
IMF needs more realism
in euro zone assumptions on Greece – Reuters
Spain's Return from the
Periphery – BB
ifo Business Climate
Index Hits All-Time High – cesifo
German Ifo business
morale hits record-high, lifted by Macron – Reuters
German Upswing Takes
Business Sentiment to Highest Since 1991 – BB
France PMI: Output
growth accelerates to six-year high – Markit
Germany PMI: Output grows at fastest pace in over six years – Markit
Germany PMI: Output grows at fastest pace in over six years – Markit
Eurozone PMI: Growth
holds steady at six-year high – Markit
Germany’s Busy Factories
Bring Fastest Growth in Six Years – BB
Euro area business
confidence remains strong – Pictet
PMIs signal solid growth
and price pressure peaking – Nordea
Euro-Area Growth Faces
Upside Risk as Weak Prices Restrain ECB – BB
Euro PMI almost at
rate-hike levels, but path to exit will be gradual – ABN
AMRO
European data wrap – Daiwa
UNITED STATES
Trump Proposes Selling
Off Half the U.S. Strategic Oil Reserve – BB
U.S. plan to sell oil
reserves undermines OPEC supply management efforts – Reuters
Trump seeks to slash
government spending in budget plan – Reuters
Trump budget wants to
halve oil stockpile, open Arctic refuge to drilling – Reuters
U.S. Labor Secretary
says fiduciary rule to take effect on June 9 – Reuters
Guide to $400 Billion in
Saudi-U.S. Deals: Black Hawks to Oil – BB
Don’t Let the Original
Trump-Russia Question Fade – BB
OTHER
BofA
Finally Asks "Is The Tech Bubble Happening Again?" – ZH
EURUSD:
why so bid? – Nordea
US/GER
10Y Spread: A bearish positive carry trade – Macro
Tourist
The
populist tide may be yet to peak – Pictet
Four
Numbers to Watch in FX - Marc Chandler
REGULARS
Morning Report APAC – TF
Asian markets traded sideways following reports that 19 people were
killed during an explosion at a concert in the UK. Sterling fell slightly on
the news and the safe-haven yen strengthened.
FirstFT Daily Briefing – FT
Manchester terror attack, no deal for Greece, Amazon video arrives in
Europe
WSJ City – WSJ
Blast at Manchester Concert Kills 22, London Policing Stepped Up
Danske Daily – Danske Bank
Eye-Opener – Nordea
PMI and Ifo numbers for the Euro area * Merkel: EUR is “too weak” * Has
the EUR/USD gotten a bit ahead of itself?
Morning Markets – TF
A data driven day lies ahead. First out will be the German Ifo Business
Climate Index for May which is seen to drop for the first time in nine months.
Also UK data is expected to be slightly less positive than previously. The
night's terror attack put pressure on the GBP. It remains to be seen if that
continues in the European session. Worldwide also the US first budget draft
will be looked at closely as it does not only give a hint at where Trump wants
to cut and increase spending but also how realistic his view on the economy is.
From the Floor – TF
Sterling is seeing limited fallout from the terror attack in Manchester,
but a tough negotiating stance from the European Union isn't helping its case.
Meanwhile, gold is pressing against upside resistance and commodity trader
Noble risks default after a triple downgrade from S&P.
Daily Market Comment – Marc Chandler
Greenback Remains Soft
Brussels Playbook – Politico
Blast in Manchester kills 19 — No Greek deal — France’s political odd
couple
Five Things You Need to
Know to Start Your Day – BB
10 things you need to
know before the opening bell – BI
US Open – ZH
S&P Futs Near All Time High On Strong Euro Data; Oil Drops On Trump's
SPR Sale Plans
Frontrunning – ZH
FX Update – TF
The US dollar weakness has broadened in recent days and is more or less
across the board with NZDUSD and USDCAD the latest USD pairs to push on key
levels. Hard to discern where support for the US dollar lies but the action is
beginning to look overdone unless US yields are pushed lower by a fresh
catalyst.
FINNISH
Aamukatsaus – Nordea
Kreikan uudesta
lainaerästä ei päästy sopuun | Merkel puhui euron nousuun | Tulossa Trumpin
budjettiehdotus
Macron ja euroalueen kohtalo – Roger
Wessman