New York opening news digest
|Here’s what you need to know about the markets before you start your business day.|
|The Turkish lira plummeted as much as 13% against the dollar on Friday, deepening worries about the country’s economic stability.|
|The international lender plans to issue what it says it the world’s first global blockchain bond.|
|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|
|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.|
|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|
|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|
|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.|
|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|
|India FX Reserves, USD: $402.7B vs previous $404.19B|
|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|
|Jonas Goltermann, Developed Market Economist at ING, suggests that a major upside surprise in Norwegian inflation, while Swedish underlying inflation|
|Canadian jobs data overview
Statistics Canada will publish its labor market figures for the month of July, later during the early North-American se
|FX Strategists at UOB Group noted the pair could drop and test the 110.60 region in the short-term horizon.
24-hour view: “USD rebounded
|EUR/USD daily chart
Daily high: 1.1537
Daily low: 1.1432
|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.
|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|
|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
|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 (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|
|• Resurgent USD demand keeps exerting some downward pressure.
• Fed rate hike expectations further contributed to the weaker tone.
|The TRY is in a full-blown currency crisis as the number of negative stories increases, according to analysts at Nordea Markets.
|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|
|Patrick Artus, Research Analyst at Natixis, notes that the US dollar has appreciated against all currencies since the start of 2018, but suggests that|
|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|
|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.
|• A strong follow-through USD upsurge helps build on the overnight positive move.
• Subdued oil prices underpin Loonie and remain supportive
|CME Group’s preliminary figures for EUR futures markets showed investors added more than 5K contracts to their open interest positions on Thursday fro|
|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.
|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.
|Livesquawk reports the latest headline from China’s Commerce Ministry, citing that China will levy anti-dumping duties on some rubber products from US|
|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
|• UK manufacturing/industrial production data beat market expectations.
• In-line UK Q2 GDP growth figures provide a minor lift to the Britis
|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 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)|
|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|
|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|
|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 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 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.|
|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|
|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|
|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|
|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 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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