London opening news digest
|Crude oil prices shrugged off chatter about a possible OPEC output cut in 2019, dropping yet again as a hawkish shift in Fed policy bets|
|Crude oil prices flirted with a 10-day loss, an eleventh would be the longest losing streak in over thirty years. Fed, stronger US Dollar and|
|Asian stocks struggled in the aftermath of a Federal Reserve monetary policy meet which went almost entirely as markets had expected|
|Analysts at Nomura suggest that the release of industrial production and trade data are going to be the key economic release for today’s UK session.|
|France Industrial Output (MoM) came in at -1.8% below forecasts (-0.3%) in September|
|Chinese inflation data for October was published overnight and came in roughly as expected with PPI printing 3.3% y/y, down from 3.6% y/y in September|
|The UK Economic Data Overview
The UK docket has the monthly and quarterly GDP releases today for the third quarter, alongside the trade balance and i
|Analysts at Nomura suggest that based on their forecasts for flat industrial production, a small 0.1% rise in service sector output and a modest rebou|
|• The post-FOMC USD up-move fails to assist build on overnight strong up-move.
• Risk-off mood underpins JPY’s safe-haven demand and exerts do
|Denmark Current Account rose from previous 8.7B to 12.3B in September|
|The Irish Prime Minister Leo Varadkar, via the Irish Times, sees the earliest Brexit summit to be held at the end of November.
This comes after Time
|Analysts at Danske Bank suggest that in the UK, focus remains on Brexit, where we have seen mixed signals on whether the UK Cabinet is about to reach|
Hourly candles see the GBP/USD geared for a test of the 200-hour moving average from 1.2970, with intraday resistance from the 50-hour
|Norway Core Inflation (YoY) came in at 1.6% below forecasts (1.8%) in October|
|Northern Irish Democratic Unionist Party (DUP) Leader Arlene Foster was reported by Reuters, as making some comments on the UK PM Theresa May, in resp|
|Norway Producer Price Index (YoY) increased to 22.5% in October from previous 21.1%|
|Norway Consumer Price Index (MoM) below expectations (0.4%) in October: Actual (-0.2%)|
|Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are|
|Norway Consumer Price Index (YoY) below forecasts (3.4%) in October: Actual (3.1%)|
|Norway Core Inflation (MoM) registered at 0%, below expectations (0.1%) in October|
|Analysts at Citi group offer their take on the US economy, in the wake of the Fed’s tightening cycle and Trump’s fiscal stimulus.
|• The post-FOMC USD strength keeps exerting downward pressure.
• Softer Chinese PPI print/copper prices further add to the selling bias.
|Italy’s Head of the Budget Committee, Claudio Borghi, is on the wires now, La Stampa, with the key headlines found below.
EU used made-up numbers in
|China’s Consumer price index inflation stabilised at 2.5% y-o-y in October, unchanged from September, as the moderation of food price inflation – driv|
|Analysts at Danske Bank note that the US Fed stayed on hold and made no major change to the policy signals in the statement, which means the Fed is st|
|CME Group’s preliminary figures for EUR futures markets noted open interest rose by more than 1.9K contracts on Thursday from Wednesday’s final 519,59|
|According to Tim Riddell, Research Analyst at Westpac, GBP is being driven by whether or not a Brexit deal can be struck to enter a prolonged “transit|
Hourly candles have the Fiber breaking down from a near-term rising HL/HH pattern, and the EUR/USD is threatening to get caught in a b
|Analysts at TD Securities expect a second consecutive month of 0.0% m/m monthly GDP in September (consensus: 0.1%) for UK economy.
|The buying interest around the US dollar across its main competitors regained momentum in Asia on the final trading day of the week, as risk-aversion|
|There’s been a reversal in market-wide Sharpe ratios, and it’s signaling a major investment opportunity for the first time in a decade.|
“Every morning I get up and look through the Forbes list of the richest people in America. If I’m not there, I go to work.” – Robert Orben
Image courtesy: www.profitf.com
Have a nice trading!