Heads-up News 

Frankfurt Trading Session Heads Up Thursday, July 12, 2018

Frankfurt opening news digest

3 Things That Make $6000 A Key Price For Bitcoin Trading

Since Bitcoin prices flirted with $20,000 at the end of the last year, there have been several corrections that have taken it below key support levels

 

Nikkei 225 Technical Analysis: Upside Break Lacks Conviction

The Nikkei 225 has broken above a key downtrend line but doesn’t look at all comfortable there. The bulls probably don’t have long to press

 

Short EUR/USD After Break Below Support, Targeting May Lows

Fundamentally, the Euro may resume falling versus the US Dollar. A break below near-term rising support has opened the door for a EUR/USD short targeting

 

Australian Dollar Ticks Lower As Inflation Expectations Do Too

The Australian Dollar slipped a little following the release of consumer inflation expectations, which came in below the previous month’s total

 

Trump Tariffs and NATO Pressure Bend Risk Trends, Dollar Rally Comes with Questions

As crude oil prices fell and US Dollar rose, US-China trade war tensions were intensified by President Trump’s calls for 4% GDP contribution to NATO.

 

Asia AM Digest: USD Up, Crude Oil Prices Fall. Stocks Vulnerable

Fears of a trade war that may damage global growth sent the US Dollar surging higher as crude oil prices fall. Even if calm ensues

 

NZ: Construction cycle shifting into a new phase – Westpac

Satish Ranchhod, Senior Economist at Westpac, suggests that NZ’s recent dwelling consent figures point to a significant increase in medium density hom

 

Gold sinking into $1,240, looking for a new low for 2018

Gold is holding close to 2018 lows as the precious metal continues to slump, with traders opting to hold USD for the time being.

Trade tensions conti

 

Dollar Index Technical Analysis: Pullback has ended

Hourly chart

Spot Rate: 94.73

Daily High: 94.79

Daily Low: 94.69

Trend: Cautiously bullish

Resistance

R1: 95.02 (May 29 high)

R2: 95.30 (June

 

NZ: Headline CPI likely to rise 0.1% in Q2 – ANZ

Analysts at ANZ expect New Zealand’s headline CPI to rise 0.1% q/q in Q2 (released 17 July), which would bring annual inflation to 1.2% – a 0.1%pt lif

 

US firms oppose tariffs according to survey – Reuters

According to Reuters, a survey out on Thursday showed that a majority of businesses operating within China oppose trade tariffs between the two nation

 




EUR/USD: Corrective rally faltered ahead of US CPI release

The EUR/USD’s corrective rally faltered on Wednesday and the pair could revisit recent lows near 1.15 should the US inflation numbers, scheduled for r

 

GBP/USD softens into 1.32 ahead of US CPI numbers as Brexit weighs

The GBP/USD continues to shuffle its feet into recent lows, trading into the 1.3200 major level ahead of Thursday’s London markets.

Broader market se

 

Trade war risks rising – NAB

According to analysts at NAB, the imposition on 6 July of a 25% tariff by the US on around $34b of imports from China, immediately followed by matchin

 

USD/JPY on its way to 200-WMA around 113.25 – Societe Generale

Reuters reports comments from the Head of FX and money-market sales at Societe Generale in Tokyo, as he offers his view on the USD/JPY pair.

Key Head

 

Trade war could be “prolonged and spread” – South Korea’s Trade Minister

The comments from South Korea’s Trade Minister are crossing the wires via Reuters:

“S.Korea’s trade min says trade war could be “prolonged and spre

 

AUD/USD: Markets favor OMT puts amid trade war fears

The AUD/USD one month 25 delta risk reversals (AUD1MRR) have dropped to -0.95 today vs -0.73 on July 9.

The rise in the implied volatility premium f

 

China trade balance preview – TDS

In the view of analysts at TD Securities (TDS), China’s June trade balance report is expected to show a healthy increase in imports.

Key Quotes:

“Ou

 

BOK’s Lee: Recent fall in KRW is not excessive

Bank of Korea (BOK) Governor Lee is out on wires stating that recent fall in the South Korean Won (KRW) does not look excessive when compared to the s

 

USD/JPY Review: Clocks six-month high, Yen loses safe haven appeal

The USD/JPY pair rose to 112.35 in Asia – the highest level in January despite escalating US-China trade tensions and the risk-off sentiment.

The Jap

 

US: Headline and core CPIs to rise of 0.2% m/m in June – Commerzbank

Analysts at Commerzbank offer a sneak peek at what to expect from today’s US CPI report due later at 1230 GMT.

Key Quotes:

“We expect a rise of 0.2%

 

NZD/USD Technical Analysis: Sell-off could stall on bull divergence

15-minute chart

Spot Rate: 0.6750

Daily High: 0.6760

Daily Low: 0.6748

Trend: Minor recovery likely

Resistance

R1: 0.6786 (200-hour moving ave

 

Oil pinned to lows, WTI near $70.50

Oil prices headed south on Wednesday and WTI prices have been pinned to new lows after knocking into the 70.00 major handle. West Texas is now broodin

 




Bank of Korea keeps rates unchanged, expects growth to slow

The South Korean Central Bank kept base rate unchanged at 1.5 percent as expected on Thursday and warned that economic growth could be slower than pre

 

USD/CNH: Above 6.70, It’s golden cross vs overbought conditions

The USD/CNH pair is holding above 6.70, having closed above that level yesterday for the first time since September 2017.

The People’s Bank of China

 

GBP/JPY Technical Analysis: Guppy breaking above 148.00

GBP/JPY Chart, 15-Minute

Spot rate: 
148.00

Relative change: 
0.13%

High: 
148.09

Low: 
147.76

 

PBOC set the Yuan reference rate at 6.6723

The People’s Bank of China (PBOC) set the Yuan reference rate at 6.6723 vs the previous day’s fix of 6.6234.

 

EUR/GBP Technical Analysis: price holding above the bearish triangle’s resistance

Spot rate:                   0.8840

High:                          0.8843

Low:                           0.8838

Trend:                        Bul

 

Australia Consumer Inflation Expectation declined to 3.9% in July from previous 4.2%

Australia Consumer Inflation Expectation declined to 3.9% in July from previous 4.2%

 

South Korea BoK Interest Rate Decision remains unchanged at 1.5% in July

South Korea BoK Interest Rate Decision remains unchanged at 1.5% in July

 

AUD/USD Technical Analysis: Trade concerns send the Aussie lower

AUD/USD Chart, 15-Minute

Spot rate: 
0.7366

Relative change: 
Negligible

High: 
0.7369

Low: 
0.7359

 

USD/CNY fix projection: 6.6849 – Nomura

Analysts at Nomura offered their model’s projection for today’s fix in USD/CNY.

Key Quotes:

“Our model1 projects the fix to be 615 pips higher than

 

USD/JPY Review: broke up out of the 18 month-long channel pattern onto 112 handle

USD/JPY is trading at the highest levels since January earlier this year and has made a session high on Tokyo of 112.11, falling just shy of the NY hi

 

Japan’s Itoh: BoJ a long way away from reducing monetary policy easing

Motoshige Itoh, A member of the Japanese government’s economic and fiscal policy council, is hitting wires reaffirming Japan’s dedication to hyper-eas

 

NZ CPI preview: expect a 0.6% – Westpac

Analysts at Westpac offered a preview for next Tuesday’s CPI release. 

Key Quotes:

“We expect a 0.6% rise in prices for the June quarter. This would

 




Forex today: dollar king as markets take Trump’s tariff threats seriously

.Forex today was in a defensive environment where investors were moving out of risk responding negatively to the Trump administration’s planned tariff

 

Alphabet says Loon and Wing are ready to become real businesses, but it’s impossible to know if any of its ‘other bets’ are paying off

BI PRIME: Alphabet’s “other bets” have cost Google’s parent company $13 billion. But investors can’t tell which, if any, of those companies look promising and which are dogs.

 

Embattled Papa John’s exec John Schnatter resigns as chairman of the board at the pizza chain after admitting to using racial slur on a conference call

Papa John’s founder and former CEO John Schnatter resigned from his position as chairman of the board, one day after he admitted to using the N-word during a conference call.

 

Broadcom confirms $18.9 billion acquisition of CA Inc.

Broadcom Inc. AVGO, -2.84% announced late Wednesday afternoon that it has agreed to acquire CA Inc. CA, +0.16% for $44.50 a share, confirming earlier

 

Trump Tariffs and NATO Pressure Bend Risk Trends, Dollar Rally Comes with Questions (Trading Video)

Talking Points: • While markets were turning their focus to the NATO Summit, the Trump administration announced fresh $200Bln in Chinese tariffs • The deepen…

 

Cheer Up

Adage:

This Bull Market run is so great that — I saw talk of a $100 million IPO for Eskimos selling quality snow — without a website.

Cartoon:


Image courtesy: www.profitf.com

Have a nice trading!




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