Frankfurt opening news digest
|The Trump administration’s latest shot in the trade war with China has sent shudders through Chinese financial markets.|
|The Philippines economy continues to grow at a fast pace, matching China’s, as President Rodrigo Duterte is debating the existence of God.|
|For many speculators, the allure of placing a ‘great’ trade that impresses their peers often overrides mundane consistency|
|The Australian Dollar remains under pressure as upbeat local Westpac confidence data was overshadowed by trade war fears. AUD may fall to 2017 support on|
|The Japanese Yen is caught in a strong downtrend against the US Dollar but is showing some signs of a yearning to escape it.|
|Risk trends extend its recovery with a fourth conscecutive S&P 500 rally, but a NATO summit will remind us of trade wars|
|A lull in trade war news, which helped benchmark indexes rise, is over as the US is ready to release the additional $200b Chinese tariff|
|Matthew Hassan, Research Analyst at Westpac, notes that Australia’s Westpac Melbourne Institute Index of Consumer Sentiment rose 3.9% to 106.1 in July|
|The AUD/USD is steadily driving towards the 0.7400 level heading through the Asia trading window after headlines that the US is seeking further tariff|
Spot Rate: 6.6809
Daily High: 6.6916
Daily Low: 6.6455
R1: 6.6916 (session high)
R2: 6.72 (May 2017 lo
|More comments are crossing the wires from China’s Commerce Ministry, as they respond to the new tariffs threat from the US.
Says that th
|According to analysts at NAB, new risks are emerging for Australian economy and need to be watched.
“We still expect GDP to increase by a
|Currently, the EUR/USD is reporting moderate losses around 1.1728 (confluence of 5-day MA and 50-day MA).
The currency pair was dragged lower by the
|The GBP/USD is cycling around 1.3250 through the week’s action, with Tuesday contracting into an inside day after Monday’s bearish push following the|
|China’s Assistant Commerce Minister Li Chenggang warned on Wednesday that the second round of the US tariffs on the Chinese goods harms the World Trad|
|Speaking to reporters at the White House before leaving on the week-long trip, the US President Trump expressed his take on the meeting with the Russi|
Spot Rate: 147.28
Daily High: 147.42
Daily Low: 146.80
R1: 147.79 (previous day’s high)
R2: 148.22 (10
|South Korea Money Supply Growth up to 6.7% in May from previous 6.1%|
|Currently, the USD/JPY pair is better bid above 111.00, having hit a low of 110.77 earlier today.
The anti-risk JPY had picked up a bid in early Asia
|Reuters reports comments from Kevin Brady, Chairman of the Health Subcommittee for the House Ways and Means Committee, as he urges the US President Tr|
|NZD/USD Chart, 15-Minute
|An official at China’s Finance Ministry is out on the wires now, via Reuters, speaking about the escalation in the US-China trade war tensions at Chin|
|The People’s Bank of China (PBOC) adviser has reportedly said that world’s second-largest economy will consider counter measures should the Trump admi|
Spot Rate: 0.7425
Daily High: 0.7459
Daily Low: 0.7407
R1: 0.7484 (July 10 high)
R2: 0.7494 (50% Fib R
|Asian stocks are back on the defensive, with equity indexes sliding steeply into red territory after the US announced plans to pile further tariffs on|
|The AUD/JPY pair – a barometer of risk appetite in the markets, is flashing red on worsening trade tensions between the US and China.
Reports hit the
|Australia Investment Lending for Homes climbed from previous -0.9% to -0.1% in May|
|Australia Home Loans registered at 1.1% above expectations (-1.9%) in May|
|Crude oil is seeing declines with WTI knocking down to 73.40 as trade concerns take oil down the charts after a brief bullish period.
WTI lifting bri
|The People’s Bank of China (PBOC) set the Yuan reference rate at 6.6234 vs.previous day’s close of 6.6405.|
|The AUD/USD is catching some minor lift following a better-than-expected Westpac Confidence Survey, and the pair is trying to build a floor from 0.742|
|USD/JPY is holding its own below the 111 handle and is in a bullish position, edging its way up the chart of late and penetrating the 111 handle makin|
|Analysts at Nomura offered their model’s projection for today’s fix in USD/CNY.
“Our model1 projects the fix to be 42 pips lower than t
|Australia Westpac Consumer Confidence up to 3.9% in July from previous 0.3%|
|As reported by Reuters, NATO’s alliance will be holding a two-day summit from Wednesday, and the treaty organization faces a bizarre paradox where the|
|Forex today was coming with a positive risk tone until news came in early Asia that the Trump administration is reportedly planning to publish a list|
|Japan Machinery Orders (YoY) came in at 16.5%, above expectations (8.6%) in May|
|Facebook acknowledged that it gave Mail.Ru special access to user data after 2015, when it officially ended the system that allowed third-party apps to access user data.|
|BI PRIME: Investors poured 50% more money into venture-backed startups than they did in the first half of 2017. The biggest beneficiaries were software companies and West Coast firms.|
|After a conversation between President Donald Trump and Pfizer CEO Ian Read, Pfizer said it plans to defer the price increases, returning the prices to where they were before July 1 “as soon as technically possible,” the company said in a statement.|
|Facebook is being fined the maximum amount possible after being accused of breaking the law twice over the scandal.|
|The reality of Tesla’s business is far more modest than the war over its stock price and market cap would suggest. Tesla is ultimately a small car company operating in a small market for electric vehicles.|
|The head of Uber Technologies Inc.’s human resources department resigned Tuesday following allegations that she dismissed racial discrimination compla|
|Federal authorities will release hundreds of detained migrant families, who will be given ankle-bracelet tracking monitors, according to a New York Ti|
|President Donald Trump claimed Tuesday evening that Pfizer Inc. PFE, +0.73% had promised to roll back drug-price increases that he had targeted earlie|
|Facebook Inc. FB, -0.59% could be slapped with a 500,000-pound fine, or about $660,000, by a U.K. regulator over improperly handled data from 87 milli|
Crisis? The new Knight Rider is a crisis — this is a correction.
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