Here tracking the data from Europe stabilising and ECB forecasts firming. This is having a positive impact on risk and further policy easing as "tiering" will be taken off the table in June.
Interesting the rise in trade tensions of late has only shown a minor dip in ZEW expectations. In other words, large hands are starting to look at possibilities of parking in Europe as well as those outguessing the rebound in China spilling over and supporting the rebound in Europe. The EU parliamentary results are mostly positive, with an overall pro-EU sentiment remaining we are starting to clear the risks.
On the RBA side, unemployment edging higher is triggering some aggressive pricing for an RBA cut as it signals a general weakening of the economy. I also expect US-China trade tensions to impact AU more in the immediate term.
Best of luck those positioned for the macro flows.
Trade active
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Trade closed: target reached
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Well done those who held for the ride... we got there in the end.