Spanish inflation and oil in focus today – Danske Bank

FXStreet (Delhi) – Research Team at Danske Bank, suggests that today, Spanish preliminary inflation data for December as well as M3 money supply data for November are due to be released.

Key Quotes

“Later in the afternoon, US pending home sales data for November is also due. This data should not have much impact on the markets.

Focus will continue to be on the movements in the oil price as well as the final government bond auctions of 2015. Yesterday, there was a small rebound in the oil prices and we saw a sharp correction in the European rates as well as US yields.

Italy is selling up to 4.5bn in 5Y and 10Y BTPS. Looking at yesterday's 2Y zero-coupon auction, where the Tesoro sold EUR 1.5bn at -11bp (a record low level), there should be ample demand for the BTPS auction today.

The US Treasury is tapping in 7Y Treasuries - demand is likely to be lacklustre as we saw with the 5Y auction yesterday, where the bid-to-cover was the lowest since 2009 given the lack of liquidity ahead of the year-end.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

RELATED TOPICS