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Europe: Anti-Immigration Vs More Negative Demographics
May 22, 2026 8:12 AM UTC
A significant demographic tremor is gaining speed and breadth - globally. Just as politics – certainly in the west - is framed around ending or at least reducing and controlling immigration, it seems that the populists at the helm of such thinking are not considering the ramifications of such a
ECB Review: If Not Insurance, Why the Hike?
June 11, 2026 2:27 PM UTC
The 25 bp official rate hike unveiled today was so well-flagged it is hard to suggest that it is consistent with a decision process on a meeting-by-meeting basis. Similarly, the dominance of inflation upside risks, alongside another dose of optimistic real economy projections, is hardly proper dat
FX Daily Strategy: Asia, Jun 16th
June 15, 2026 9:00 PM UTC
Since Iran kicked off, gold holds on to the biggest remaining losses, SEK next
BoJ in focus, 25bp hike universally expected, attention on statement and bond program
RBA tone also to be scrutinised.
Broader dollar tone still waiting on the new era Fed
Preview: Due June 25 - U.S. May Durable Goods Orders - Aircraft to correct lower, but ex transport trend positive
June 15, 2026 5:25 PM UTC
We expect May durable goods orders to fall by 4.0% overall after a rise of 8.0% in April, the moves led by volatility in aircraft. Ex transport we expect an increase of 0.8%, slightly slower than three straight gains in excess of 1.0%, but maintaining a positive trend.
FX Daily Strategy: APAC, Jun 16th
June 15, 2026 3:20 PM UTC
Since Iran kicked off, gold holds on to the biggest remaining losses, SEK next
BoJ in focus, 25bp hike universally expected, attention on statement and bond program
RBA tone also to be scrutinised.
Broader dollar tone still waiting on the new era Fed
Preview: Due June 16 - U.S. May Housing Starts and Permits - Slightly lower on volatile multiples
June 15, 2026 2:17 PM UTC
We look for May housing starts and permits to both see modest declines, with starts down by 2.4% to 1.43m and permits down by 0.2% to 1.42m. The detail is likely to see gains in the single family sector outweighed by corrections lower in multiples.
U.S. May Industrial Production - Pause in a positive trend
June 15, 2026 1:30 PM UTC
May industrial production with a 0.1% increase and manufacturing unchanged was on the weak side of expectations. Near term revisions were positive but revisions further back were negative. Capacity utilization at 76.2% was as expected and the highest since July 2025.