Heads-up News 

Frankfurt Trading Session Heads Up Friday, August 10, 2018

Frankfurt opening news digest

Japan dodges a recession, but it’s not in the clear yet

Japan’s economy has bounced back from a poor start to the year, but analysts say it will struggle to grow strongly.

 

Chipotle is trying to lure customers back with bacon

The company will test both applewood smoked bacon and nachos in some cities this fall.

Chipotle is working to win customers back after a series of he

 

Investors really aren’t buying Musk’s plan for Tesla

The stock has erased the gain that followed Musk’s surprise tweet.

 

Crude Oil and Gold Price Moves May Hinge on US, Japan Trade Talks

Crude oil and gold prices may look past emerging market turmoil and incoming economic data, taking their cues from trade negotiations between the US and

 

Asian Equity Wilts As Trade Weighs Once More. US CPI Looms

Asian stocks were broadly if not drastically lower as another week’s end approached. Risk appetite remains extremely vulnerable to trade-spat headlines

 

France Nonfarm Payrolls (QoQ) registered at 0.2%, below expectations (0.3%) in 2Q

France Nonfarm Payrolls (QoQ) registered at 0.2%, below expectations (0.3%) in 2Q

 

France Industrial Output (MoM) registered at 0.6% above expectations (0.5%) in June

France Industrial Output (MoM) registered at 0.6% above expectations (0.5%) in June

 

Norway: Inflation on the upside – Nordea Markets

Erik Johannes Bruce, Research Analyst at Nordea Markets, notes that the Norway’s inflation ended up at the upside to Norges Bank’s forecast and all is

 

US: YoY rate for core CPI inflation likely to be 2.32% – Deutsche Bank

According to analysts at Deutsche Bank, the main highlight today is US CPI and analysts at DB expects core inflation (0.23% month-over-month) to rebou

 

AUD/USD Technical Analysis: Tumbles to 20-month lows, below 0.7300 mark

•  The pair extended overnight rejection slide from a one-month-old descending trend-line hurdle, also coinciding with 55-day SMA and tumbled to 20

 

GBP/USD Technical Analysis: 12-month lows seeing little rebound

GBP/USD Chart, 15-Minute

Spot rate: 
1.2806

Relative change: 
-0.14%

High: 
1.2836

Low: 
1.2796

 




Inflation data amongst market movers today – Danske Bank

Inflation releases are a key focus today in the Scandies as well as the US, while geopolitical issues also will continue to be a key market issue, acc

 

Norway: CPI-ATE to slip to 1.0% y/y in July – TDS

There are some odd base effects at play for Norway’s July inflation, and analysts at TD Securities are looking for CPI-ATE to slip from 1.1% in June t

 

TRY: Under pressure – Danske Bank

Analysts at Danske Bank note that the Turkish lira continues to be under pressure and lost more than 5% against the dollar yesterday, given the politi

 

Norway Producer Price Index (YoY) rose from previous 20% to 22.6% in July

Norway Producer Price Index (YoY) rose from previous 20% to 22.6% in July

 

Norway Consumer Price Index (YoY) came in at 3%, above expectations (2.6%) in July

Norway Consumer Price Index (YoY) came in at 3%, above expectations (2.6%) in July

 

Norway Core Inflation (MoM) above expectations (0.3%) in July: Actual (0.6%)

Norway Core Inflation (MoM) above expectations (0.3%) in July: Actual (0.6%)

 

Norway Consumer Price Index (MoM) came in at 0.7%, above forecasts (0.3%) in July

Norway Consumer Price Index (MoM) came in at 0.7%, above forecasts (0.3%) in July

 

Denmark Consumer Price Index (YoY) above expectations (0.8%) in July: Actual (1.1%)

Denmark Consumer Price Index (YoY) above expectations (0.8%) in July: Actual (1.1%)

 

Denmark Inflation (HICP) (YoY) dipped from previous 1.1% to 0.9% in July

Denmark Inflation (HICP) (YoY) dipped from previous 1.1% to 0.9% in July

 

Norway Core Inflation (YoY) above expectations (1.2%) in July: Actual (1.4%)

Norway Core Inflation (YoY) above expectations (1.2%) in July: Actual (1.4%)

 

UK: Trade and GDP data in the limelight today – Nomura

Analysts at Nomura point out that UK’s trade deficit remained unchanged at GBP12.4bn in May, around GBP1bn higher than it was on average during 2011.

 

Sweden: Focus on CPI inflation today – TDS

Analysts at TD Securities suggest that Sweden’s July CPI seems to be set up for another month of CPIF ex-energy coming in below the Riksbank’s forecas

 




USD/CAD breaks higher to test 1.3100 ahead of US CPI, Canadian jobs

The USD/CAD pair broke the Asian consolidative range to the upside in early Europe, as the bulls look to retest the weekly tops of 1.3120 amid renewed

 

EUR/USD collapses to 1.1440, fresh YTD lows

A bout of selling pressure is hitting the single currency and forcing EUR/USD to recede to levels last seen in July 2017 around the 1.1440 region.

EU

 

EUR/USD Technical Analysis: slips 1.15 as Dollar bulls go on a rampage

EUR/USD Chart, 15-Minute

Spot rate: 
1.1460

Relative change: 
-0.56%

High: 
1.1536

Low: 
1.1436

 

UK: Focus on Q2 GDP – TDS

Analysts at TD Securities suggest that UK’s June activity data dump will be accompanied by the quarterly growth figure, which should garner the most m

 

Forex Today: Yen rebounds in Asia on Japan GDP beat, eyes on UK GPP, US inflation

FX Today on the final trading day of this week saw the Yen replicating the moves seen in Asia on Thursday. The USD/JPY pair dropped sharply to 110.70

 

Italy’s budget: How far will the government test the markets/EU? – Nomura

The budget bill that Italy must submit to its parliament by 27 September – and to the European Commission by 15 October – has been a cause of much con

 

RBA SoMP: Few surprises – Westpac

Bill Evans, Research Analyst at Westpac, notes that the Reserve Bank’s August Statement on Monetary Policy provides few surprises, but technical assum

 

AUD/USD Review: accelerating into 0.7350

The AUD/USD is trading into 0.7350 as Friday sees markets pushing n favour of the Greenback as risk aversion remains just beneath the surface to cap o

 

EUR/USD put value jumps to highest since early May 2017

The one-month 25 delta risk reversals (EUR1MRR) dropped to -1.2 today – the lowest level since May 3, 2017 – meaning the implied volatility premium fo

 

Turkey’s Erdogan: “Even if they got dollars, we got ‘our people, our God’

Reuters cites latest comments from the Turkish President Erdogan, as reported by the Anadolu Agency.

Erdogan noted that “even if they got dollars, we

 

Singapore Retail Sales (YoY) rose from previous 0.1% to 2% in June

Singapore Retail Sales (YoY) rose from previous 0.1% to 2% in June

 

Singapore Retail Sales (MoM) rose from previous 0.1% to 1.2% in June

Singapore Retail Sales (MoM) rose from previous 0.1% to 1.2% in June

 




Euro’s declines continue on ECB comments and ITaly

The euro is in decline following ECB comments that US tariffs and increased risk of further protectionism is likely to leave its mark on global growth. In its economic bulletin the ECB also added that despite the rising risks globally, domestic growth still looks solid and on track.

 

ECB worries that some European banks may be too exposed to Turkey: FT

The European Central Bank is getting increasingly concerned about the exposure of exposure of some banks in the region — specifically from Spain, Ita

 

Cheer Up

Adage:

Q: Why isn’t the selling of corporate jets by the US Auto Industry good news?
A: They are being bought by AIG!

Cartoon:


Image courtesy: www.profitf.com

Have a nice trading!




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