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Frankfurt Trading Session Heads Up Wednesday, November 15, 2017

Frankfurt opening news digest

U.S. Household Debt Reaches New Record: Watch Subprime Auto Loans

U.S. household debt reached an all-time high in the third quarter. Here’s why.

 

USD/JPY: Status Quo Or Change For BoJ Leadership; What Does It Mean For JPY? – Nomura

Nomura FX Strategy Research discusses JPY outlook in light of the recent report about the possible candidates for BoJ leadership.”Investor interest in the BOJ leadership change has been increasing with Etsuro Honda, one of the possible candidates for the next governor, attracted market interest last week. Mr Honda argues that the BOJ

 

GBP/USD, AUD/USD: Key Trigger Levels For Breakouts Scenarios – BofAML

Bank of America Merrill Lynch Technical FX Strategy Research discusses GBP/USD and AUD/USD technical outlook, outlining possible breakout trigger levels on the downside.GBP/USD: “A breakdown below trend line support, especially the 1.30 figure, would be trend bearish and suggests a decline to the 50m SMA at 1.2799 will follow. A deeper me

 

USD: Stalled; Most Of Good News On US Tax Cuts Look Already Incorporated – Barclays

Barclays Capital FX Strategy Research discusses the USD near-term outlook, noticing that its momentum has stalled after the Senate Finance Committee presented its own version of the tax cut bill.”It has marked differences from the House version, including the complete elimination of state and local tax deductions, which many GOP Representative

 

US Dollar May Overlook CPI Data as Tax Cut Prospects Fade

The US Dollar may look past October’s CPI statistics as hopes for inflation-boosting fiscal policy unravel amid fading prospects of passing tax cut legislation.

 

EUR/USD Technical Analysis: Two-Month Down Trend Broken

The Euro launched sharply higher to score the largest daily in close to five months and break a two-month down trend against the US Dollar.

 

Dollar’s Reversal Put on Hold as the S&P 500 Stages a Threat of its Own

Risk trends have softened over the past week. Not enough to produce wide spread concern of speculative unwind, but certainly enough to add anxiety to

 

Australian Dollar Falls as Wage Growth Disappoints

The Australian Dollar fell more than half of a percent against its major counterparts following the release of wage growth data that underperformed analysts’ forecasts.

 

Japanese Yen Technical Analysis: USDJPY Prepares, But For What

The Japanese Yen has just seen the US Dollar lose momentum at highs which have stymied USDJPY bulls twice this year. However, this time may

 

Japanese Yen Shrugs Off Disappointing GDP Data

The Japanese Yen proved to be resilient following disappointing GDP data that showed the economy added only 0.3 percent in the third quarter versus 0.4

 

AUD/USD Technical Forecast: Searching for a Bottom

The AUD/USD price pattern appears incomplete to the topside. We are anticipating support to emerge soon and a move to .82.

 




Asia AM Digest: Euro Soars as US and NZ Dollars Plunge

The Euro roared higher, pulling other top European currencies higher along the way, while the US and New Zealand Dollars succumbed to selling pressure.

 

Australia Consumer Confidence Ebbs In November – Westpac

Consumer confidence in Australia weakened in November, the latest survey from Westpac Bank said on Wednesday. The Westpac Consumer Confidence Index sank 1.7 percent on month in November to a score of 99.

 

Japan GDP Gains 0.3% In Q3

Japan’s gross domestic product was up a seasonally adjusted 0.3 percent on quarter in the third quarter of 2017, the Cabinet Office said in Wednesday’s preliminary reading.

 

Taiwan Shares Likely To Head South Again On Wednesday

The Taiwan stock market picked up just a handful of points on Tuesday – but that was enough to snap the four-day losing streak in which it had surrendered almost 160 points or 1.

 

Singapore Stock Market May Take Further Damage On Wednesday

The losing streak has hit three sessions now for the Singapore stock market, which has fallen almost 25 points or 0.7 percent along the way. The Straits Times Index now rests just beneath the 3,400-point plateau and it’s looking at continued consolidation on Wednesday.

 

Malaysia Stock Market May Extend Losing Streak

The Malaysia stock market has moved lower in three consecutive trading days, sliding almost 15 points or 0.8 percent along the way. The Kuala Lumpur Composite Index now rests just beneath the 1,735-point plateau and it’s in line for further damage on Wednesday.

 

BRAZIL: Ibovespa Falls 2.27% And Settles At The Lowest Level Since August

Ibovespa, the benchmark stock market index in Brazil, closed down by 2.27% to 70,826.59 points on Tuesday – the lowest settlement since August 23 – amid lower commodity prices and by selling pressure on Petrobras’ shares after the company reported a lower-than-expected profit for the third quarter.

 

Losing Streak May Continue For South Korea Shares

The South Korea stock market has finished lower in four straight sessions, sliding almost 25 points or 1 percent along the way. The KOSPI now rests just above the 2,525-point plateau and it draws another uninspired lead for Wednesday.

 

ARGENTINA: Merval Sinks 3.76% On Profit-taking

Merval, the main index of the Buenos Aires Stock Exchange, deepened a correction course started last week and fell 3.76% on Tuesday to 25,709.30 points, with all of its constituents down.

 

Japan GDP On Tap For Wednesday

Japan will on Wednesday release preliminary Q3 figures for gross domestic product, highlighting a modest day for Asia-Pacific economic activity. GDP is expected to rise 0.

 

ARGENTINA: Monthly Inflation Slows In October But Exceeds Estimates

Argentina’s monthly inflation decelerated to 1.5% in October from 1.9% in September, said the country’s statistics office. The reading was above the market expectations, which predicted a monthly inflation of 1.

 

TELECOM ARGENTINA: Q3 Profit Rises As Sales Grow Faster Than Costs

Telecom Argentina reported a net profit of 2.056 billion pesos (US$ 117.1 million) in the third quarter of 2017, an almost threefold increase from the same period of the previous year.

 




JBS: Net Income Falls 63.6% In 3Q17, Impacted By Tax Regularization Program

Brazilian meat packer JBS reported a R$ 323 million (US$ 98.3 million) net profit in the third quarter, down 63.6% from a year before, as costs related to a tax renegotiation with the Brazilian government weighed on the results.

 

JBS: Brazilian Company Reduces Leverage

After reducing its debt to EBITDA ratio to 3.42 times in the third quarter, from 4.16 times in the previous quarter, Brazilian meat packer JBS forecasts a further reduction in its leverage ratio, to around three times by the end of this year.

 

BRAZIL: Retail Sales Rise Slightly, Beat Market Forecast In September

Retail sales in Brazil were up 0.5% in September from August, recovering from a 0.5% fall a month before, said the country’s statistics office. The results exclude the sales of vehicles and construction materials.

 

PETROBRAS: Company Shows Profits In Q3 But Misses Market Forecast

Brazilian state-owned oil company Petrobras posted a R$266 million (US$ 68.5 million) net profit in the third quarter, up from a R$ 16.4 billion loss a year before.

 

Stocks Climb Off Worst Levels But Close Modestly Lower – U.S. Commentary

After an initial move to the downside, stocks regained some ground over the course of the trading session on Tuesday but remained in the red. The major averages offset the modest gains posted in the previous session.

 

Major Averages Climb Off Worst Levels But Remain In The Red – U.S. Commentary

After an early move to the downside, stocks have climbed off their worst levels of the day but continue to see modest weakness in afternoon trading on Tuesday. The major averages are offsetting the modest gains posted in the previous session.

 

Stocks Move Mostly Lower In Morning Trading – U.S. Commentary

Stocks have moved mostly lower in morning trading on Tuesday after turning higher over the course of the previous session. The major averages have slid firmly into negative territory.

 

Ossen Innovation Co. (OSN) Has Surged To A New High For The Year

Ossen Innovation Co. (OSN) has been rising sharply since the open of trade Tuesday and is now up 1.02 at $3.14 on the highest volume of the year. Ossen Innovation has broken out to a new high for the year.

 

Stratasys Inc. (SSYS) Is Climbing After Guidance Increase

Stratasys Inc. (SSYS) reported third quarter non-GAAP EPS of $0.08 Tuesday morning, compared to $0.00 in the prior year period. Analysts expected EPS of $0.05. Full year non-GAAP EPS is now expected to be between $0.

 

International Game Technology (IGT) Has Leaped To An 8-Month High On Q3 Results

International Game Technology (IGT) reported third quarter EPS of $0.40 Tuesday morning, down from $0.45 in the previous year. Analysts expected EPS of $0.24. International Game Technology has gapped open sharply higher this morning and is now up 3.

 

Advance Auto Parts (AAP) Is Up Sharply On Better Than Expected Q3 Earnings

Advance Auto Parts (AAP) reported third quarter EPS of $1.43 Tuesday morning, down from $1.73. Street expectations were for EPS of $1.21. Advance Auto Parts has gapped open sharply higher this morning and is now up 14.

 

Buffalo Wild Wings (BWLD) Is Surging On Reports Of Takeover Offer

The Wall Street Journal reported after the bell Monday that private equity firm Roark Capital has offered to acquire Buffalo Wild Wings (BWLD) for over $2.3 billion.

 




TJX Companies Q3 Profit Meets View, But Revenues Miss; Shares Fall

Off-price retailer TJX Companies, Inc. on Tuesday reported a 17 percent increase in profit for the third quarter from last year, reflecting higher sales and customer traffic.

 

U.S. Producer Prices Climb 0.4% In October, More Than Expected

Producer prices in the U.S. increased by more than expected in the month of October, according to a report released by the Labor Department on Tuesday. The Labor Department said its producer price index for final demand climbed by 0.

 

Stocks May Move To The Downside In Early Trading – U.S. Commentary

After turning higher over the course of the previous session, stocks are likely to move back to the downside in early trading on Tuesday. The major index futures are currently pointing to a lower open for the markets, with the Dow futures down by 51 points.

 

Eurozone Robust Growth Continues In Q3

Eurozone economy maintained its robust growth momentum in the third quarter, suggesting that it is set to end the year on a strong note, and extend support to the European Central Bank’s decision to reduce the size of its asset purchases at the start of next year even as inflation is away from its target.

 

U.S. Producer Prices Rise More Than Expected In October

Producer prices in the U.S. increased by more than expected in the month of October, according to a report released by the Labor Department on Tuesday..

 

SendGrid prices IPO above range, will sell more shares

SendGrid Inc. SEND, +0.00% priced its initial public offering higher than expected and will offer more shares than originally planned, which will lead

 

Roku stock downgraded by analyst: ‘most expensive public internet company’

Oppenheimer analyst Jason Helfstein downgraded Roku Inc. ROKU, -13.49% to underperform because the stock’s recent gains have made it difficult to just

 

Dollar’s Reversal Put on Hold as the S&P 500 Stages a Threat of its Own

Talking Points: • Risk-oriented assets have eased over the past week, and the S&P 500 has felt enough pressure to complete a head-and-shoulders • Meanwhile, …

 

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