The USD has seen some across the board improvement in Asia overnight, with EUR/USD down at 1.4075 from a North American close Thursday around 1.4110, while cable is down at 1.6530 from around 1.6585.
The moves come after the accelerated USD losses seen Thursday and smack of just being pre-weekend profit taking.
China duly released May Industrial output data showing a +8.9% y/y rise, while retail sales rose +15.2% y/y and new loans jumped to 664.5 bln yuan. All signs that China’s economy is moving in the right direction.
The Barclays/Blackrock deal has been done and it’ll be interesting to see whether we hear any rumblings of resultant M&A flows going through in cable. Funnily enough earlier in the week there had been talk of cable buying being done tied to the deal, which at that stage was still being hashed out.
