QUICK SUMMARY

• The US Dollar Index is up 0.4% at 91.3
• Euro down 0.3% at 1.2021 (YTD: -1.6%)
• 5Y German-US interest rates spread 2.1 bp tighter
• Yen at 109.21 (YTD: -5.5%)
• Onshore Yuan at 6.4730 (YTD: +0.8%)
• Swiss franc down 0.2% at 0.9130 (YTD: -3.0%)
• Sterling down unchanged at 1.3909 (YTD: +1.7%)
• Canadian dollar unchanged at 1.2286 (YTD: +3.7%)
• Australian dollar down 0.3% at 0.7734 (YTD: +0.5%)
• NZ dollar down 0.3% at 0.7174 (YTD: -0.2%)

MAJOR MACRO RELEASES

• Australia, Current Account, Goods and Services, Net for Mar 2021 (AU Bureau of Stat) at 5,574.0, missed consensus estimate of 8,000.0
• Australia, Policy Rates, Cash Target Rate for May 2021 (RBA, Australia) at 0.1
• Canada, Trade Balance, Total, fob for Mar 2021 (CANSIM, Canada) at -1.1, missed consensus estimate of 0.7
• New Zealand, Labour Cost, Ordinary time wage rates, Private sector, Chg P/P, Price Index for Q1 2021 (Statistics, NZ) at 0.4, above consensus estimate of 0.3
• New Zealand, Labour Cost, Ordinary time wage rates, Private sector, Chg Y/Y for Q1 2021 (Statistics, NZ) at 1.6, above consensus estimate of 1.5
• New Zealand, Milk Auction, Average Price, Constant Prices for W 04 May (Global Dairy Trade) at 4,162.0
• New Zealand, Unemployment, Rate for Q1 2021 (Statistics, NZ) at 4.7, below consensus estimate of 4.9
• Russia, PMI, Manufacturing Sector for Apr 2021 (Markit Economics) at 50.4
• Saudi Arabia, IHS Markit, PMI, Composite, Output, IHS Markit PMI for Apr 2021 (Markit Economics) at 55.2
• United Kingdom, PMI, Manufacturing Sector for Apr 2021 (Markit Economics) at 60.9, beat consensus estimate of 60.7
• United States, Manufacturers New Orders, Total manufacturing, Chg P/P for Mar 2021 (U.S. Census Bureau) at 1.1, missed consensus estimate of 1.3
• United States, Trade Balance, Total, Goods and services for Mar 2021 (U.S. Census Bureau) at -74.4, beat consensus estimate of -74.5

VOLATILITIES

• Deutsche Bank USD Currency Volatility Index currently at 6.26, down -0.02 on the day (YTD: -1.03)
• Euro 1-Month At-The-Money Implied Volatility currently at 5.43, up 0.2 on the day (YTD: -1.5)
• Japanese Yen 1M ATM IV currently at 5.48, up 0.1 on the day (YTD: -0.6)
• Offshore Yuan 1M ATM IV currently at 3.78, up 0.1 on the day (YTD: -1.9)

NOTABLE MOVES IN SOVEREIGN CDS

• Government of Chile (rated A-): up 1.5 basis points to 53 bp (1Y range: 43-110bp)
• Colombia (rated BBB-): up 3.6 basis points to 140 bp (1Y range: 83-239bp)
• Indonesia (rated BBB): up 2.0 basis points to 78 bp (1Y range: 66-212bp)
• Thailand (rated BBB+): up 1.0 basis points to 40 bp (1Y range: 33-63bp)
• Mexico  (rated BBB-): up 2.4 basis points to 99 bp (1Y range: 79-254bp)
• China (rated A+): up 0.9 basis points to 36 bp (1Y range: 27-54bp)
• Philippines (rated BBB): up 0.8 basis points to 45 bp (1Y range: 33-86bp)
• Panama (rated BBB-): up 1.2 basis points to 73 bp (1Y range: 44-148bp)
• Peru (rated BBB+): up 1.5 basis points to 93 bp (1Y range: 52-106bp)
• Vietnam (rated BB): up 1.3 basis points to 102 bp (1Y range: 90-265bp)

NOTABLE OTHER MOVERS TODAY

• Haiti Gourde up 2.5% (YTD: -14.1%)
• Kazakhstan Tenge up 0.6% (YTD: -1.4%)
• Swedish Krona down 0.5% (YTD: -2.6%)
• North Macedonian denar down 0.5% (YTD: -2.0%)
• Czech Koruna down 0.5% (YTD: 0.0%)
• Colombian Peso down 0.7% (YTD: -10.5%)
• Turkish Lira down 0.8% (YTD: -10.6%)
• Paraguay guarani down 1.2% (YTD: +3.8%)
• Burundi Franc down 2.5% (YTD: -2.5%)
• Bosnian Mark down 2.7% (YTD: -4.2%)