Heads-up News 

Frankfurt Trading Session Heads Up Thursday, July 12, 2018

Frankfurt opening news digest

The crippling US ban on ZTE is almost over

ZTE shares spiked more than 20% after the US government announced the Chinese company will soon clear the last major hurdle to removing a crippling ban.

 

Asian Stocks Rise on Trade War Pause, AUD/USD Eyes US CPI Next

Hints that US and China could be heading for trade negotiations next helped send Asian benchmark indexes higher. AUD/USD eyes a potential US CPI beat

 

France Inflation ex-tobacco (MoM): 0% (June) vs previous 0.5%

France Inflation ex-tobacco (MoM): 0% (June) vs previous 0.5%

 

France Consumer Price Index (EU norm) (MoM) below forecasts (0.1%) in June: Actual (0%)

France Consumer Price Index (EU norm) (MoM) below forecasts (0.1%) in June: Actual (0%)

 

France Consumer Price Index (EU norm) (YoY) came in at 2.3%, below expectations (2.4%) in June

France Consumer Price Index (EU norm) (YoY) came in at 2.3%, below expectations (2.4%) in June

 

Trump: ‘US pays too much to stabilize Europe, and loses Big on Trade!’

The US President Trump is on the wires now, via Twitter, speaking about the US-Europe trade relations ahead of the North Atlantic Treaty Organization

 

EUR/USD stuck within a tight range around 1.1680

The sentiment around the European currency remains depressed so far this week, with EUR/USD now navigating a narrow range between 1.1680 and 1.1660.

 

UK: Government unrest continues to linger – Danske Bank

Analysts at Danske Bank, notes that in UK, Brexit-related government unrest continues to linger.

Key Quotes

“Yesterday, sources suggested that EU of

 

UK: Brexit “white paper” to be released today – TDS

The UK government publishes its Brexit “white paper” today, laying out in full detail the proposals behind last week’s 3-page Chequers agreement, poin

 

FX option expiries for July 12 NY cut

FX option expiries for July 12 NY cut at 10:00 Eastern Time, via DTCC, can be found below.

EUR/USD: EUR amounts

1.1675 784m
1.1775 624m
1.1800 9

 

US: Tariffs to hurt investment more than consumer spending – Standard Chartered

Sonia Meskin, US Economist at Standard Chartered, notes that the US announced further possible tariffs of 10% on roughly USD 200bn worth of China impo

 




Germany Consumer Price Index (MoM) in line with expectations (0.1%) in June

Germany Consumer Price Index (MoM) in line with expectations (0.1%) in June

 

Germany Consumer Price Index (YoY) in line with expectations (2.1%) in June

Germany Consumer Price Index (YoY) in line with expectations (2.1%) in June

 

Germany Harmonized Index of Consumer Prices (MoM) meets forecasts (0.1%) in June

Germany Harmonized Index of Consumer Prices (MoM) meets forecasts (0.1%) in June

 

Germany Harmonized Index of Consumer Prices (YoY) meets forecasts (2.1%) in June

Germany Harmonized Index of Consumer Prices (YoY) meets forecasts (2.1%) in June

 

Fed seeks to find alternative signals to inverted yield curve – Reuters

According to reporting by Reuters, the US Federal Reserve are on the hunt for new signals from financial markets that are accurate enough to deliver r

 

GBP/USD Technical Analysis: Sterling stuck to 1.32 as bears fear Brexit

GBP/USD Chart, 15-Minute

Spot rate: 
1.3205

Relative change: 
Negligible

High: 
1.3209

Low: 
1.3188

 

US: Escalation of the trade dispute remains in focus – Danske Bank

The escalation of the trade dispute has remained in focus even in the absence of any new material developments, according to analysts at Danske Bank.

 

Sweden: CPIF to come in at 2.3% in June – TDS

Analysts at TD Securities are looking for Sweden’s CPIF to come in at 2.3% y/y in in June (mkt 2.1%), which is a tenth below the Riksbank’s forecast f

 

Forex Today: AUD/JPY – a big move in Asia as risk rebounds, ECB minutes, US inflation eyed

Forex Today breathed a sigh of relief in Asia this Thursday, with risk-recovery emerging the main theme, as the dust settled over the US-China trade w

 

Market movers today – Danske Bank

Markets will continue to focus on the escalating US-China trade war and UK politics, according to analysts at Danske Bank.

Key Quotes

“ECB minutes t

 

ECB Minutes in the limelight today – TDS

Analysts at TD Securities point out that ECB minutes from the Governing Council’s June meeting are released today, and are expected to reveal further

 

Eurozone: Industrial production to increase by 1.2% – Nomura

After the positive surprise sprung by Germany’s IP, and the solid m-o-m increase in Spanish production, analysts at Nomura expect euro area IP to incr

 




EUR/JPY review: At 7-week high, rally isn’t backed by rising yield spread

The EUR/JPY pair rose to 131.19 in Asia – the highest level since May 22 as the Japanese Yen continued to track other Asian currencies lower.

The cro

 

EUR/USD Technical Analysis: Soft bounce in progress from current lows

EUR/USD Chart, 15-Minute

Spot rate: 
1.1684

Relative change: 
0.12%

High: 
1.1685

Low: 
1.1668

 

ECB Forward Guidance: Lost in translation? – TDS

Analysts at TD Securities point out that the ECB’s June policy meeting yielded an announcement on QE tapering and a commitment to keep policy rates at

 

BoC: Bias to hike but a cautious approach – Rabobank

Analysts at Rabobank note that the Bank of Canada raised the policy rate 25bp to 1.50% as was widely expected, while maintaining a cautious tone.

Key

 

Singapore Retail Sales (MoM) increased to 0.1% in May from previous -0.2%

Singapore Retail Sales (MoM) increased to 0.1% in May from previous -0.2%

 

Singapore Retail Sales (YoY): 0.1% (May) vs previous 0.4%

Singapore Retail Sales (YoY): 0.1% (May) vs previous 0.4%

 

China: Tracking signs of policy easing – Nomura

Analysts at Nomura note that on the heels of the recent reserve requirement ratio (RRR) cut from PBoC, which came into effect on 5 July, there have be

 

BoC: Poloz follows through – TDS

According to analysts at TDS, the Bank of Canada followed through on a widely expected 25 bp hike while the statement portrayed an upbeat tone, emphas

 

JPY call bias weakest since May 18 after a bull breakout in USD/JPY

The USD/JPY pair crossed the three-year-long falling trendline with strength on Wednesday and rose to a six-month high of 112.38 in the Asian session

 

USD holds well; trade war jitters ease and sentiment improves in Asia

USD continues to stand tall as it enters its fourth consecutive day in gains. The US Dollar index, an index measuring the strength of the USD against a basket of currencies rose to 94.79 earlier this morning after starting this week at 93.97.

 

Cheer Up

Adage:

Q: What are Mcdonald’s employees now asking customers?
A: Can you afford fries with that?

Cartoon:


Image courtesy: www.profitf.com

Have a nice trading!




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