BoJ minutes to shed light on Kiuchi’s proposal

May 04, 2015 20:57 pm UTC| Commentary

The Bank of Japan (BoJ) will release the 7-8 April meeting minutes on 8 May. The central bank kept quantitative and qualitative monetary easing (QQE) unchanged at the meeting.Board Member Takahide Kiuchi proposed a...

BOC to stay comfortably on hold over the next few meetings

May 04, 2015 18:51 pm UTC| Commentary

Canadian data have been generally strong in April. Employment, retail sales and housing starts all came stronger than expected. Core CPI inflation has also surprised on the upside reaching 2.4% (YoY), helped by weaker...

JGB's volatility is getting lower

May 04, 2015 18:02 pm UTC| Commentary

The JGB market was volatile since mid-Jan, but it is getting stable and yields start declining partly because new fiscal year starts in April and investors come back to the market. The 10yr yield was 0.395% at the end of...

Risks for the Euro will be more balanced going forward

May 04, 2015 17:49 pm UTC| Commentary

The sharp drop of the Euro since a year ago was from an overvalued level, which is not anymore the case.The ECBs open-ended QE was a positive surprise that contributed to the EUR weakness, but strong Eurozone data more...

CAD has related to rates as well as energy prices

May 04, 2015 16:46 pm UTC| Commentary

Factors that pushed CAD lower have turned around lately, particularly the 20% rise in WTI, reducing CADs overvaluation.The BoC is comfortably on hold with oil prices close to their forecasts. This reduces near-term cut...

Muddled market scenarios likely in near-term

May 04, 2015 16:38 pm UTC| Commentary

Markets continue to look for clarity but find further muddled outlooks for current global macro questions. Greece has emerged again as a potential flash point, and the risk of "grey scenarios" is substantial.Meanwhile, a...

ECB QE details

May 04, 2015 16:23 pm UTC| Commentary

ECB purchases are still proceeding according to plan, with EUR60.3bn purchased in April . EUR47.7bn was purchased in the PSPP, EUR11.5bn in the covered bond programme and EUR1.1bn in the ABS in April. Hence, ECB remains...