Heads-up News 

Frankfurt Trading Session Heads Up Friday, December 7, 2018

Frankfurt opening news digest

Saudi Arabia Tries (And Fails) To Balance Market, Russia And Trump

After OPEC fails to reach an agreement to cut production on its first day of meetings, Russia may hold the key to consensus.

 

Gold Prices May Fall as US Jobs Data Validates Chart Setup

Gold prices may turn lower, validating bearish technical cues as November’s US jobs report boosts Fed rate hike bets and sends the Dollar higher.

 

New Zealand Dollar Carves an Exceptional Move Away from the Bright Fundamental Lights

Surprisingly, the New Zealand Dollar is one of the few currencies divorced from themes like risk trends and has few docket listings

 

EUR/GBP Technical Analysis: Range Support May Come Under Fire Next

EUR/GBP prices solidified their consolidation mode as traders eagerly await a breakout. Negative RSI divergence warns that the horizontal range of support could be under

 

A Wild Ride for Risk Trends with an Unusual Trade Wars Update

Among a host of themes, trade wars again took top spot on news Chinese firm Huawei’s CFO was arrested in Canada for US extradition

 

AUD/USD Technical Analysis: Bounce May Yield Short Trade Setup

A near-term Australian Dollar bounce may offer an opportunity to enter short before the dominant, long-term down trend is reasserted.

 

Asia Stocks to Pause Declines Ahead of US NFPs? Crude Oil Jawboned

A last minute improvement in risk appetite as the S&P 500 almost filled its gap may result in Asia stocks pausing losses. Crude oil prices

 

Trump is losing his own trade war against himself – Bloomberg

As reported by Bloomberg, US President Donald Trump’s trade war with China comes along with its own self-inflicted injuries, including a steepening tr

 

US: Payrolls likely to rise by 215k in November – TDS

In view of analysts at TD Securities, the jobs report is shaping up to be hawkish across the board and they expect payrolls to rise by 215k in Novembe

 

UK: All eyes on Brexit debate – Rabobank

According to analysts at Rabobank, today we get another day of opacity, mendacity, and pedantry in the form of Brexit debate in the UK and will be a k

 

Japan Coincident Index dipped from previous 114.4 to 104.5 in October

Japan Coincident Index dipped from previous 114.4 to 104.5 in October

 




Japan Leading Economic Index registered at 100.5, below expectations (104.8) in October

Japan Leading Economic Index registered at 100.5, below expectations (104.8) in October

 

GBP/USD trading softly into 1.2750 with US NFP in the barrel

GBP/USD continues to trade with softer tones in the Asian market window as investor sentiment remains apprehensive leading into Friday’s London openin

 

Australia: Incredibly busy week – Westpac

Sean Callow, research analyst at Westpac, points out that Australia had an incredibly busy week with Q3 GDP being the key economic release and it surg

 

China: Will exports continue to downplay the trade war impact? – ING

Prakash Sakpal, Economist at ING, suggests that in the forthcoming week, we’ll get all the activity data for November of Chinese economy starting with

 

EUR/USD: Value of puts (bearish bets) hits 6-month low ahead of Eurozone GDP and US NFP release

Risk reversals on the EUR, a gauge of calls to puts on the common currency, rose to six-month highs on Thursday, indicating investors are trimming bea

 

Australia: GDP disappoints as consumer is hit by headwinds – Westpac

Elliot Clarke, Research Analyst at Westpac, points out that the Australian GDP growth printed just 0.3% for the September quarter, following a 0.9% ga

 

Chinese Yuan will breach 7 per USD within 6 months – Reuters poll

China’s yuan will breach the major psychological level of 7 per US dollar within the next six months, according to about 60 percent of FX strategists

 

USD/JPY Technical Analysis: 100-day MA again reverses pullback, BOJ’s Kuroda rules out near-term taper

The USD/JPY is currently trading at 112.75 – up 0.10 percent on the day – having bounced off from the 100-day moving average (MA) support yesterday.

 

BOJ official: BOJ holds 77.5 percent of Japan’s total ETF market

Bank of Japan (BOJ) owned 77.5 percent of Japan’s total exchange-traded fund (ETF) market at the end of September, according to a Senior BOJ official.

 

China Commerce Ministry: to appropriately deal with trade frictions

China’s Commerce Ministry was out on the wires soon before press time stating that it would appropriately deal with trade frictions and implement reme

 

NZD/USD back into the 0.6880 level after slipping from December’s peaks

NZD/USD is trading back into 0.6880 after December’s early open saw the Kiwi lift into six-month highs, but a resurgence in broad-market fears surroun

 

Gold: value of call options (bullish bets) surges

Gold one-month 25 delta risk reversals (XAU1MRR) rose to 0.75 yesterday – the highest level since Nov. 7 – up sharply from the previous day’s print of

 




Merkel’s party to vote on new leader Friday – Reuters

As reported by Reuters, Germany’s leading political party, Angela Merkel’s Christian Democrat Party (CDU) will be voting for a new party leader as Mer

 

BOJ’s Kuroda: time not ripe to exit from our monetary easing

The time is not yet ripe to unwind our monetary easing, including ETF buying, as inflation target of 2 percent still remains elusive, Bank of Japan (B

 

BOJ’s Kuroda: there is no need to ease policy further

Bank of Japan governor Kuroda, while speaking in parliament on Friday, said there is no need to ease monetary policy further now and added that there

 

AUD/USD stuck in the mud near 0.7200

AUD/USD is shuffling its feet near 0.7225 after Thursday saw the currency from down under continue a recent bearish push, closing in the red for a fou

 

Gold Technical Analysis: pennant pattern seen at five-month highs

4-Hour Chart

Trend: Bullish above $1,240

XAU/USD

Overview:

    Today Last Price: 1238.7

    Today Daily change: 52 pips

    Today Daily chang

 

Japan firms see trade war, sales tax pressuring economy in 2019 – Reuters

Most Japanese firms expect the US-China trade war to hurt Japan’s export-driven economy and the planned sales tax hike to put a damper on private cons

 

More from BoJ’s Kuroda: Watching trade, Brexit risks carefully

Further statements from the Bank of Japan’s (BoJ) Governor Kuroda is crossing the wires.

Key highlights

A rate hike from the US Federal Reserve does

 

USD/CNH Technical Analysis: Falling wedge breakout paves way for re-test of Thurday’s high

15-minute chart

Trend: Bullish

USD/CNH

Overview:

    Today Last Price: 6.8797

    Today Daily change: -1.0 pips

    Today Daily change %: -0.

 

GBP/JPY hobbled at 144.00 as market fears play tug-of-war

GBP/JPY finds itself frozen at the 144.00 major handle after a mild dip-and-recover on Thursday as bearish Brexit headlines continue to pull the Sterl

 

PBOC sets the yuan reference rate at 6.8664

The People’s Bank of China (PBOC) set the yuan reference rate at 6.8664 vs the previous day’s fix of 6.8599.

 

US President Trump tweets that a trade deal with China likely within the next 90 days

The US President Trump is confident that an agreement with China can be reached within the next 90 days as the teams of both sides are now having smoo

 

AUD/USD: Off 3.5-week lows, but remains below 100-day MA

The AUD/USD’s recovery rally from 3.5-week lows seems to have run out of steam at the 100-day moving average (MA) hurdle.

The Australian dollar was d

 




PM May rejects calls for vote delay, Brexit vote will go on – Reuters

According to reporting by Reuters, UK Prime Minister Theresa May’s office announced in no uncertain terms that December 11th will be seeing a parliame

 

BOJ’s Kuroda: So far impact of US-China trade war is limited

Bank of Japan (BOJ) governor Haruhiko Kuroda, while speaking in Parliament on Friday, said that the impact of US-China trade friction has so far been

 

Okta soared 10% after blockbuster earnings, and a Wall Street analyst says the $7 billion company is becoming a real competitor to Microsoft

Okta’s stock rose 10% the day after it announced earnings. A Wall Street analyst explains why Okta can take on Microsoft’s cloud security business.

 

Trump close to picking Barr for A.G., Nauert for UN: reports

President Donald Trump is close to making two major nominations: William Barr for U.S. attorney general and Heather Nauert as U.S. ambassador to the U

 

CBS paid $5 million in hush money over sexual-assault claims against ’60 Minutes’ creator: report

CBS Corp. CBS, -0.08% has paid a former employee more than $5 million in hush money over a period spanning more than 20 years over accusations that le

 

Markel stock drops after hours on regulatory inquiries

Markel Corp. MKL, +1.01% shares fell in the extended session Thursday after the insurer announced that it was hiring outside counsel for an internal r

 

New Zealand Dollar Carves an Exceptional Move Away from the Bright Lights

New Zealand Dollar Talking Points: • There are a number of fundamental themes exerting pressure on the FX markets and plenty of event risk to fill the gaps •…

 

A Wild Ride for Risk Trends with an Unusual Trade Wars Update

Trade War Talking Points: • US markets reopened after the remembrance holiday to a steep dive, but critical support would hold with an abrupt reversal • Amon…

 

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