Societe Generale in its early Tuesday economic news summary pointed out:
-- US dollar consolidates overnight gains, DXY closed above 200dma (103.80) led by USD/JPY. 10-year United States Treasury in the break-out territory after accelerating through 200dma (4.17%). Italy led the sell-off in eurozone government bonds Monday, profit taking blamed after Fitch upgraded rating outlook. Rising US term premium, US election trade, benchmark supply add to the bearish mix.
-- Federal Reserve: San Francisco's Daly (voter) says the policy is 'very tight' for an economy already on a path to 2% inflation, doesn't see any reasons to stop cutting rates. Schmid, Logan and Kashkari advocate gradual rate cuts, data dependent.
-- Day ahead: Fed speaker Harker. European Central Bank's Centeno, Knot, Holzmann, Villeroy, Rehn, Lagarde. Bank of England''s Greene, Bailey, Breeden. Hungary central bank is forecast to keep rates unchanged.
-- Nikkei -1.4%, EUR 10-year IRS +2.9bps at 2.465%, Brent crude -0.2% at $74.2/barrel, Gold +0.4% at $2,734/oz.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.