Overnight Markets And News
The dollar index (DXY00 -0.23%) is down -0.23% at a 5-week low. EUR/USD (^EURUSD +0.49%) is up +0.50% at a 2-week high. USD/JPY (^USDJPY +0.36%) is up +0.37%.
Jun 10-year T-note prices (ZNM18 -0-050) are down -4.5 ticks.
ECB Governing Council member Weidmann said, “the end of net asset purchases is only the beginning of a monetary-policy normalization process that will take several years, and that's why it's particularly important to start soon.” He added that market expectations for the end of bond buying in 2018 and forecasts for the first interest-rate increase in the middle of 2019 are “not unrealistic.”
U.S. Stock Preview
Key U.S. news today includes: (1) Feb Chicago Fed national activity index (expected +0.03 to 0.15, Jan -0.02 to 0.12), (2) Mar Dallas Fed manufacturing activity (expected -3.7 to 33.5, Feb +3.8 to 37.2), (3) USDA weekly grain export inspections, (4) New York Fed President William Dudley (voter) speaks to the U.S. Chamber of Commerce in Washington on the future of financial regulation, (5) Treasury auctions $30 billion of 2-year T-notes, (6) Cleveland Fed President Loretta Mester (voter) speaks on monetary policy at Princeton University, (7) Fed Vice Chair Randal Quarles speaks at the Hope Global Forums meeting n Atlanta.
