Currency Markets Snapshots For The Week
- Indian Rupee depreciated last week on wider May trade deficit but will gain on fall in oil prices on Friday the 15th of June
- Fed rate hikes and ECB signaling an end of bond purchases though keeping rates at all time lows for the next one year to drive global currency markets.
- BOJ maintained policy stance, which will lead to Yen weakening
- US trade tariffs on USD 50 billion of Chinese goods, briefly shook markets but the move is symbolic more than anything else.
Weekly Global Bond Analysis
- Global bond yields largely fell last week.
- Federal Reserve hiked rate by 25 bps and signaled two more hikes this year.
- ECB said it will end its bond-buying program entirely at the end of this year.
- BoJ kept its policy rate unchanged
- Italian economic minister said the new coalition government has no intentions of leaving the eurozone.