Frankfurt opening news digest
|The march to a $1 trillion market cap took 20 years from the previous record of $100 billion that GE was the first to capture in 1995; and it was 40 years earlier that GM was first to the $10 billion mark. Odds are it’ll be just 10 years before $10 trillion is breached. Will it be Amazon?|
|The latest episode of the Forbes Asia Investment Briefing comes from Standard Chartered’s chief Greater China and North Asia economist, Shuang Ding. He tells us what’s caught his eye this week, and what he’ll be watching for over the coming weeks and months.|
|All it takes is the SEC to delay a decision to wipe out over $10 billion in Bitcoin’s market cap|
|SK Telecom, South Korea’s leading wireless telecom provider, looks like an attractive value investment for long-term investors.|
|At 174 times earnings, Amazon is priced to perfection. If there is any part of the business that is not rock solid, it bears close scrutiny. I have received so many emails from readers who have had bad experiences with sketchy Amazon sellers that it is worth another look.|
|AUD/NZD can at times net out market mood swings, behaving as “risk neutral”. This allows it to focus more on Reserve Bank of Australia and|
|See how retail traders are positioning in NZDUSD intraday using the DailyFX speculative positioning data on the sentiment page.
It is rare nowadays t
|The British Pound may shrug off upbeat UK GDP data while the US Dollar looks past CPI inflation data to focus on trade talks between|
|The Yen remains steady despite positive GDP data, with markets eyeing US inflation data and the outcome of trade talks between US and Japan.|
|The three-day historical range from the S&P 500 is the smallest in percentage terms in 2018 and one of the smallest in decades|
|Updates on near-term technical trade setups we’ve been tracking in the Australian & New Zealand Dollars. (AUD/USD & NZD/USD)|
|The US Dollar appreciated across the board on Thursday while the New Zealand Dollar depreciated. Ahead, the Japanese Yen may look past an improvement in|
|The USD/TRY pair has hit a new record high of 5.75 today, beating the previous high of 5.56 set yesterday.
Turkey’s currency has dropped close to 10
|Takashi Miwa, Research Analyst at Nomura, notes that the Japan’s first preliminary 2018 Q2 GDP estimates released on 10 August show real GDP up 1.9% q|
|Japan Tertiary Industry Index (MoM) below expectations (-0.2%) in July: Actual (-0.5%)|
|Iraq’s oil production rose to a 13-month high of 4.46 million barrels per day (bpd) in July, the Iraqi State Oil Marketing Organization (SOMO) said on|
Spot Rate: 0.8985
Daily High: 0.8990
Daily Low: 0.8981
R1: 0.90 (psychological level)
R2: 0.9017 (r
|The GBP/USD is trading into 1.2830 heading into Friday’s London market session after the US Dollar saw a resurgence in Thursday’s latter half, taking|
|Annette Beacher, Chief Asia-Pacific Macro Strategist at TD Securities, notes that the RBA delivered an as-expected upbeat outlook for the global econo|
|According to analysts at Nomura, Japanese machinery order statistics for June 2018 were weak on the whole as core machinery orders (private sector, ex|
|The EUR/USD closed yesterday at 1.1527 – the lowest level since July 20, 2017 – having faced rejection at the lower end of the pennant (former support|
|The USD/JPY pairing is testing down into the 110.85 region for Friday after a bump in Japan’s GDP readings gave the JPY a boost against the broader ma|
|According to the Barclays Research Team, the US inflation figures are expected to have edged higher in the month of July.
“For the July
|Kyle Uerata, Economic Statistician at ANZ, notes that New Zealand’s retail spending on electronic cards increased 0.7% m/m in July (seasonally adjuste|
|Analysts at Nomura note that the US headline PPI was unchanged m-o-m in July, weaker than expected (Consensus: 0.2%) as prices for food (-0.1% m-o-m),|
Current Price: $72.02
Daily High: $72.15
Daily Low: $71.83
R1: $72.49 (June 18 low)
R2: $72.84 (5-day
|South Korea’s Finance Ministry published its monthly economic assessment report on Friday, with the key headlines found below (courtesy Reuters).|
|The USD exchange rate, as represented by the dollar index, clocked a three-week high of 95.65 in Asia, having rallied 0.54 percent yesterday.
It is w
|Analysts at TD Securities (TDS) provide a brief preview of what to expect from today’s Canadian employment data due on the cards at 1230 GMT.
Spot Rate: 6.8430.
Daily High: 6.8479
Daily Low: 6.8279
R1: 6.8566 (daily pivot resistance 1)
|A North Korean Foreign Ministry spokesman accused the US on pressing for international sanctions on the North, in a statement on state-run KCNA late-T|
|The NZD bears are on the offensive, having pushed the currency down to the 29-month low of 0.6593 today.
At press time, the NZD/USD pair is trading
|Asian equities are leaning towards the downside for Friday, with Japan’s Nikkei 225 index back into the 22,400.00 region despite a positive showing fo|
|The Barclays Research Team offers its insights on today’s UK second-quarter GDP monthly and quarterly figures that will drop in at 0830 GMT.
|The AUD/USD pair is trading at a five-day low of 0.7366, having created a bearish outside-day candle yesterday and risks falling further, courtesy of|
|Headlines crossed the wires from New Zealand’s dairy giant Fonterra earlier today, via Reuters, citing that it slashed the farm gate milk price.
|The AUD/JPY is trading into 81.70 following the Reserve Bank of Australia’s (RBA) Statement of Monetary Policy, which saw little new information for t|
|In its quarterly Statement of Monetary Policy (SoMP) released on Friday, the Reserve Bank of Australia (RBA), highlights that the depreciation in the|
|The People’s Bank of China (PBOC) set the Yuan reference rate at 6.8395 vs the previous day’s fix of 6.8317.|
|According to reporting by Reuters, a state-run Chinese newspaper, The People’s Daily, is saying that the current US-China trade frictions are a result|
|Analysts at ANZ explained that the NZD/USD is now sitting below the bottom of their short-term fair value range, but said some undershoot is likely.|
|As reported by Reuters, Japan’s Economy Minister Toshimitsu Motegi had a “frank exchange” with US Trade Representative Robert Lighthizer, but Japan se|
|Qualcomm Inc. QCOM, -0.12% has reached a settlement with antitrust regulators in Taiwan to sharply reduce its fine, according to reports Thursday nigh|
|Mesa Air Group Inc. MESA, +0.00% announced Thursday afternoon that it would sell fewer shares at a lower price than it originally expected in its init|
|CareDX Inc. CDNA, +1.63% shares surged 17% in the extended session Thursday after the company reported second-quarter earnings. The company reported s|
|Talking Points: • Though the dovish rhetoric in the RBNZ’s hold Thursday wasn’t a surprise, it sparked a sharp drop to multi-year lows • The Kiwi’s volatile …|
Q: What does AIG stands for?
A: Adventures in Greed!
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Have a nice trading!