Heads-up News 

New York Trading Session Heads Up Friday, August 10, 2018

New York opening news digest

Turkey on the edge; Oil prices drop; Ryanair strikes

Here’s what you need to know about the markets before you start your business day.

 

Turkish lira plunges 13% to record low

The Turkish lira plummeted as much as 13% against the dollar on Friday, deepening worries about the country’s economic stability.

 

The World Bank is getting in on blockchain

The international lender plans to issue what it says it the world’s first global blockchain bond.

 

Downside EUR/USD Targets on Radar as Summer Range Snaps

EUR/USD stands at risk of extending the decline from earlier this month as the exchange rate finally snaps the range-bound price action carried over from

 

Strong Canada Employment Report to Curb USD/CAD Rebound

Updates to Canada’s Employment report may curb the recent rebound in USD/CAD as the economy is expected to add another 19.0K jobs in July.

 

Bitcoin & Ripple Technical Analysis – Charts Point to Further Losses

The cryptocurrency space remains unable to push higher with sellers keeping a firm grip on the marketplace.

 

GBP Pares Losses as GDP Bounces Back, However, Brexit Remains Key Driver

GBP Pares Losses as GDP Bounces Back, However, Brexit Remains Key Driver

 

US Dollar Soars, Gold Slumps, EUR Rattled on Turkish Lira Concerns

EURUSD slumped to a fresh 13-month low in early European trade on a combination of a soaring US dollar and concerns over European banks’ exposure

 

EUR/USD Technical Analysis: Euro Resuming Decade-Long Decline

The Euro may be on the verge of resuming its down trend against the US Dollar as prices plunge through critical long-term chart support.

 

Euro Wobbles As Investors Fret Bank Exposure To Turkey

The Euro took a hit Friday following a newspaper report saying that the currency bloc’s major banking watchdog is concerned about some banks’ exposure to

 

GBPCAD Short: Rate Differentials Favour CAD, Brexit Weighs on GBP

GBPCAD Short: Rate Differentials Favour CAD, Brexit Weighs on GBP

 




India FX Reserves, USD: $402.7B vs previous $404.19B

India FX Reserves, USD: $402.7B vs previous $404.19B

 

UK Finance Minister Hammond: We want economic growth to be higher than latest GDP figures

The UK Finance Minister Philip Hammond was out on the wires, with some comments on today’s UK GDP release, saying that we want economic growth to be h

 

Scandi inflation: Divergences continue – ING

Jonas Goltermann, Developed Market Economist at ING, suggests that a major upside surprise in Norwegian inflation, while Swedish underlying inflation

 

When are the Canadian employment details and how could they affect USD/CAD?

Canadian jobs data overview

Statistics Canada will publish its labor market figures for the month of July, later during the early North-American se

 

USD/JPY risks a visit to 110.60 – UOB

FX Strategists at UOB Group noted the pair could drop and test the 110.60 region in the short-term horizon.

Key Quotes

24-hour view: “USD rebounded

 

EUR/USD Technical Analysis: Sell-off now targets sub-1.1400 levels

EUR/USD daily chart

 

 

 

Daily high: 1.1537

Daily low: 1.1432

Support Levels

S1: 1.1495

S2: 1.1463

S3: 1.1401

Resistance Levels

R1: 1.15

 

NZD/USD could see 0.6540 tested – UOB

The weakness around the Kiwi Dollar could push spot to drop as low as the 0.6540 area in the next weeks, suggested FX Strategists at UOB Group.

Key Q

 

Turkey: What can stop the TRY from bleeding? – Nordea Markets

According to analysts at Nordea Markets, Turkey’s central bank has two options to prevent the TRY from bleeding: It can either deliver an aggressive e

 

When is the US CPI and how could it affect EUR/USD?

US July CPI Overview

Today’s US economic docket highlights the release of latest consumer inflation data and is due for release later during the earl

 

GBP futures: room for further decline

In light of advanced data for GBP futures markets from CME Group, open interest increased by almost 6.2K contracts on Thursday vs. Wednesday’s final 2

 

WTI: Recovery from 2-month lows capped by $ 67 ahead of US data

WTI (oil futures on NYMEX) extended its bearish momentum and hit a two-month lows of $ 66.16 at the European open before finding buyers to take on the

 

Gold Review: Weekly trading range intact ahead of US CPI

•  Resurgent USD demand keeps exerting some downward pressure.

   •  Fed rate hike expectations further contributed to the weaker tone.

   •  Ris

 




TRY: A bloodbath – Nordea Markets

The TRY is in a full-blown currency crisis as the number of negative stories increases, according to analysts at Nordea Markets.

Key Quotes

“The Tur

 

Goldman Sachs sees orderly Brexit with May getting deal through parliament

In its latest client note, Goldman Sachs’s Analysts said that the UK PM Theresa May could manage to seek an orderly Brexit by getting the Brexit deal

 

USD: Odd recent trend – Natixis

Patrick Artus, Research Analyst at Natixis, notes that the US dollar has appreciated against all currencies since the start of 2018, but suggests that

 

EUR/USD consolidates Turkey fears-led slide to 1.1430, US CPI eyed

The EUR/USD pair is seen consolidating the 100-pips collapse to thirteen-month lows of 1.1432 in the European session, as the bears await Turkey’s Erd

 

AUD/USD weakness seen picking up pace – UOB

In view of FX Strategists at UOB Group, the near term outlook on the Aussie Dollar remains neutral although further retracements are not ruled out.

K

 

USD/CAD sits at 2-1/2 week tops, above 1.31 handle ahead of US/CA macro data

•  A strong follow-through USD upsurge helps build on the overnight positive move.

   •  Subdued oil prices underpin Loonie and remain supportive

 

EUR futures: door open for extra downside

CME Group’s preliminary figures for EUR futures markets showed investors added more than 5K contracts to their open interest positions on Thursday fro

 

Further downside pressure lies ahead for GBP – Danske Bank

According to Jens Sorensen, Chief Analyst at Danske Bank, there is no signs of a relief for British Pound at least in the near term.

Key Quotes

“GBP

 

GBP/USD stays bearish, next target at 1.2675 – UOB

Cable’s stance remains bearish and risks further decline to the next target at 1.2675 in the near term., according to FX Strategists at UOB Group.

Ke

 

China’s Commerce Ministry: China to levy anti-dumping duties on rubber from US, EU and Singapore

Livesquawk reports the latest headline from China’s Commerce Ministry, citing that China will levy anti-dumping duties on some rubber products from US

 

GBP/USD unfazed near 1.2750 on UK data

The bearish sentiment around the Sterling remains unabated so far this week, with GBP/USD trading in levels last seen over a year ago.

GBP/USD weak o

 

GBP/JPY finds some support near 141.00 handle, still deep in the red post-UK data

•  UK manufacturing/industrial production data beat market expectations.

   •  In-line UK Q2 GDP growth figures provide a minor lift to the Britis

 




UK manufacturing production arrives at 0.4% m/m in June, beats estimates

The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Friday, showing that the overall industrial

 

United Kingdom Total Trade Balance came in at £-1.861B, above forecasts (£-2.5B) in June

United Kingdom Total Trade Balance came in at £-1.861B, above forecasts (£-2.5B) in June

 

United Kingdom Index of Services (3M/3M) below forecasts (0.6%) in June: Actual (0.5%)

United Kingdom Index of Services (3M/3M) below forecasts (0.6%) in June: Actual (0.5%)

 

United Kingdom Trade Balance; non-EU above forecasts (£-3.6B) in June: Actual (£-2.94B)

United Kingdom Trade Balance; non-EU above forecasts (£-3.6B) in June: Actual (£-2.94B)

 

UK Q2 Prelim GDP arrives at 0.4% q/q, bang on expectations

The UK GDP first estimate showed that the GDP figures came in at 0.4% q/q in the second quarter of 2018, double than 0.2% seen in the first quarter, w

 

United Kingdom Goods Trade Balance came in at £-11.383B, above forecasts (£-12.05B) in June

United Kingdom Goods Trade Balance came in at £-11.383B, above forecasts (£-12.05B) in June

 

Crossing Wall Street – August 10, 2018 Crossing Wall Street

Earnings season has finally passed for us. It felt like the last few issues were just me reading off numbers to you: “So-and-so reported X cents, beat

 

Morning News: August 10, 2018 Crossing Wall Street

In Times of Trade War, Companies Get Creative to Avoid Tariffs

Behind the $90 Billion Brawl Over Credit Card Swipes

WeWork Raises $1 Billion in Debt

 

The Turkish lira is sinking so fast it risks ‘smashing into the ground’ — and people are worried about European contagion

The Turkish lira has plunged more than 35% against the US dollar this year. Concerns are mounting that the decline will start to hit European banks, even as the Turkish government promises to stabilize the economy.

 

The pound continues to dive after dollar ‘sucker punch’

“The fears of a no-deal Brexit have piled the pressure on the pound and the dollar’s rally has come as a sucker punch,” Neil Wilson, the chief market analyst at Markets.com, said in an email.

 

Ericsson to increase 5G and AI investments in U.S., employing over 280 people

Sweden-based network infrastructure company Telefon AB L.M. Ericsson ERIC, -0.88% is ramping up its investment in the U.S. to support the buildout of

 

Gemphire Therapeutics stock plunges after trial halted due to ‘unanticipated problems’

Shares of Gemphire Therapeutics Inc. GEMP, -2.39% plunged 17% toward a record low Friday after the biopharmaceutical company said a phase 2a trial of

 




Lira plunges vs. dollar as ECB worries about banks exposure to Turkey: report

The Turkish lira plunged to a fresh record low against the U.S. dollar Friday, following a report the European Central Bank is growing more concerned

 

Live Data Coverage UK Q2 GDP

UK GDP bounces back in the second quarter, how does Sterling react? -Subscribe to DailyFX: https://www.youtube.com/DailyFXNews?sub_confirmation=1 -Visit Dail…

 

Amazon vs Google | Battle of the tech giants

#Amazon and #Google have grown from humble beginnings to become two of the biggest rivals on the #market. Discover the history of their competition, and its …

 

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