Follow ‘MoreLiver’ on Twitter
EUROPE
Nordic Outlook - June
2017 – Danske
Bank
UNITED STATES
The Fed’s perception
flaw – FT
Fed hikes, but
struggling with low inflation – ABN
AMRO
Hawkish Yellen ignores
inflation and weaker data – Danske
Bank
OTHER
Financial forecasts – Calm summer? – June 2017 – Nordea
The receding political
risks have continued to support risk appetite, and we do not see any immediate
change to this environment. We make only small adjustments to most of our
forecasts, including higher EUR/USD and lower USD/CNY.
EM FX: Financial forecasts – June 2017 – Nordea
We are changing a number
of EM FX forecasts this time around. Short-term fluctuations around domestic
and international political risks have been huge, but on average EM FX has
continued to strengthen since the beginning of the year.
Majors & Scandies: June 2017 FX forecast – Nordea
Our global scenario
remains intact; developed markets will continue to perform and risk appetite
will remain firm even as some commodity/China worries may linger. The forecasts
of EUR/USD and the commodity currencies have been revised.
REGULARS
Morning Report APAC – TF
All eyes were on the Fed and chief Janet Yellen played down a softening
of price pressures in the last few months and voiced confidence the central
bank was on course to hit its 2% inflation goal.
FirstFT Daily Briefing – FT
Brexit olive branch, Man Booker prize, could Camembert disappear?
WSJ City – WSJ
BOE Hawks on Hold, Why Britain Risks Being ‘Sick Man’ of Europe
Danske Daily – Danske Bank
Eye-Opener – Nordea
Fed to shrink its balance sheet relatively soon; lower oil prices; new
forecasts * Hawkish Fed * Fed flattened the curve, but balance sheet & data
could steepen it * New financial forecasts
Crude oil prices steadied around seven-month lows in Thursday's Asian
session after another steep drop on Wednesday. Asia-Pacific equities weakened
with financial and energy stocks dented by the Fed's rate rise and lower oil.
From the Floor – TF
Markets found themselves trying to "second-guess" the Fed
yesterday, says Saxo Bank FX head John Hardy, with the dollar tumbling on a
soft CPI print only to surge higher on a "less dovish than expected"
FOMC.
Daily Market Comment – Marc Chandler
Dollar Trades Higher in Wake of the FOMC
Brussels Playbook – Politico
Goodbye roaming charges — How much will lunch cost in Parliament next
week?
Five Things You Need to
Know to Start Your Day – BB
10 things you need to
know before the opening bell – BI
The market was expecting a very dovish Fed performance yesterday after
weak US CPI and retail sales readings but the Fed only met the market about
half-way. Still the market is strongly second-guessing the Fed’s forward
guidance and may concentrate more on incoming data and whether the "Trump
trade" remains on permanent hold.
FINNISH
Aamukatsaus – Nordea
Ei yllätyksiä
keskuspankeilta * Englannin, Sveitsin ja Japanin keskuspankit kokoustavat
tänään * Fed nosti odotetusti ohjauskorkoaan * USA:n pohjainflaatio hidastui
toukokuussa odotettua enemmän