Heads-up News 

London Trading Session Heads Up Friday, December 7, 2018

London opening news digest

Bitcoin Falls Below $3,300 To Reach Latest Annual Low

Will bitcoin suffer further losses before the year is through?

 

Asian Stocks Gain On Hopes Fed May Hold Fire, US Payrolls Up Next

There was a late-week reprieve for battered Asia Pacific stock markets as investors took heart from a report suggesting that there may be fewer US

 

Can Gold Prices Keep Gains After Brexit Draft Vote, US CPI, ECB?

Gold gained amidst a weaker US Dollar, lower government bond yields on market-wide pessimism. Next week contain numerous uncertainties for gold: Brexit draft vote, US

 

Germany: Industrial production drops by 0.5% in October – ING

Carsten Brzeski, chief economist at ING, points out that Germany’s industrial production dropped by 0.5% MoM in October, from a 0.1% MoM drop in Septe

 

USD/JPY: tepid recovery fails ahead of 113.00 handle, NFP in focus

•  A modest USD uptick/positive bond yields helped gain some positive traction.

   •  The cautious mood continues to underpin JPY’s safe-haven dem

 

France Trade Balance EUR above expectations (€-6B) in October: Actual (€-4.1B)

France Trade Balance EUR above expectations (€-6B) in October: Actual (€-4.1B)

 

France Industrial Output (MoM) came in at 1.2%, above expectations (0.7%) in October

France Industrial Output (MoM) came in at 1.2%, above expectations (0.7%) in October

 

France Exports, EUR rose from previous €40.42B to €43.2B in October

France Exports, EUR rose from previous €40.42B to €43.2B in October

 

France Current Account climbed from previous €-1.9B to €-0.7B in October

France Current Account climbed from previous €-1.9B to €-0.7B in October

 

France Imports, EUR rose from previous €46.08B to €47.3B in October

France Imports, EUR rose from previous €46.08B to €47.3B in October

 

GBP/USD: Resistance at 1.2840 – Commerzbank

Karen Jones, analyst at Commerzbank, suggests that the GBP/USD is likely to find initial resistance at the 1.2840 levels after it has bounced off the

 




Italy’s Di Maio: Italy will avoid the EU’s disciplinary procedure

There is no need to cut reforms in the budget, said Italy’s Deputy Prime Minister Luigi Di Maio in an interview to Radio 4 this Friday.

He was furthe

 

GBP futures: recovery could extend further

CME Group’s advanced data for GBP futures markets noted open interest rose by almost 2K contracts on Thursday vs. Wednesday’s final 235,336 contracts.

 

Germany Industrial Production n.s.a. w.d.a. (YoY) up to 1.8% in October from previous 0.8%

Germany Industrial Production n.s.a. w.d.a. (YoY) up to 1.8% in October from previous 0.8%

 

GBP/USD Technical Analysis: Constrained in a sluggishly bearish chart pattern, lacking a major trend

GBP/USD, 5-Minute

The past couple of weeks have been a ranging affair for the Cable, but swing highs remain capped off at the 1.2800 handle while

 

Germany Industrial Production s.a. (MoM) below forecasts (0.3%) in October: Actual (-0.5%)

Germany Industrial Production s.a. (MoM) below forecasts (0.3%) in October: Actual (-0.5%)

 

Denmark Industrial Production (MoM) up to 1% in October from previous -0.4%

Denmark Industrial Production (MoM) up to 1% in October from previous -0.4%

 

Norway Manufacturing Output rose from previous -0.3% to 1.5% in October

Norway Manufacturing Output rose from previous -0.3% to 1.5% in October

 

EUR futures: neutral/bullish near term

In light of preliminary figures for EUR futures markets from CME Group, investors added nearly 1.5K contracts to their open interest positions on Thur

 

EUR/USD: Headed towards 1.15 – Commerzbank

In view of Karen Jones, Analyst at Commerzbank, EUR/USD continues to be range bound but is once more trying to reach the 55 day moving average at 1.14

 

AUD/USD on offers for the fourth straight session, but holds above 0.7200 mark

•  Struggles to build on overnight attempted rebound amid a modest USD uptick.

   •  Renewed worries about the US-China relations continue to weig

 

US NFP and OPEC+ meet amongst market movers today – Danske Bank

Research team at Danske Bank point out that today, we have a numbers of important data releases on both sides of the Atlantic, starting with the US jo

 

China: Trade surplus likely to increase to $54.1bn in Nov – TDS

Analysts at TD Securities suggest that based on their models, and following dire export/import PMIs in recent months, they expect China’s imports and

 




China state media: CHina should tolerate larger budget deficit – Reuters

According to reporting by Reuters, Chinese state-run newspaper China Securities Journal is urging the government that tells it what to write to seek t

 

Forex Today: CNH bid, JPY offered as Trump backed China’s upbeat comments on trade

Forex today saw mild risk-on action with Chinese yuan pushing higher against the greenback and JPY crosses picking up a bid, tracking mild gains in th

 

South Africa Net $Gold & Forex Reserve climbed from previous $42.194B to $42.577B in November

South Africa Net $Gold & Forex Reserve climbed from previous $42.194B to $42.577B in November

 

South Africa Gross $Gold & Forex Reserve rose from previous $50.166B to $50.672B in November

South Africa Gross $Gold & Forex Reserve rose from previous $50.166B to $50.672B in November

 

Philippines: Will the central bank pause policy tightening? – ING

Prakash Sakpal, Economist at ING, suggests that the stage is set for the Philippines’ central bank to keep its policy on hold when it meets next week

 

Cheer Up

Adage:

Q: Why does President Obama think its good that gas prices have fallen?
A: Because now people can afford to drive the cars they’re living in!

Cartoon:


Image courtesy: www.profitf.com

Have a nice trading!




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