ECB’s Nagel flags June hike risk as volatility stays muted – BNY

ECB’s Nagel flags June hike risk as volatility stays muted – BNY

BNY reports that Bundesbank President Joachim Nagel has signaled a likely European Central Bank rate hike in June unless the outlook improves, reinforcing a hawkish bias. Despite this, FX options show 1‑ and 3‑month EUR volatility below long-term averages, suggesting markets do not expect a major EUR/USD breakout. Energy-driven inflation and Iran-related supply shocks remain […]

US ISM Manufacturing PMI held steady at 52.7 in April

US ISM Manufacturing PMI held steady at 52.7 in April

The Institute for Supply Management’s (ISM) data showed the Manufacturing PMI held steady at 52.7 in April, slightly below analysts’ expectations of 53.0. Meanwhile, the Prices Paid Index, which tracks inflation, rose to 84.6 from 78.3, the Employment Index weakened to 46.4 from 48.7, and the New Orders Index increased to 54.1, from 53.5. Market […]