Heads-up News 

New York Trading Session Heads Up Wednesday, January 10, 2018

New York opening news digest

Most Asian Stocks Backtrack, Hang Seng Stays Out In Front

Equity markets paused and retreated on Wednesday, by and large but the Hong Kong mainboard’s winning run looked set to continue for another day

 

Yen Extends Rally But Follow-Through Prospects Seem Limited

The Japanese Yen has managed to build on yesterday’s BOJ-inspired surge but the currency might struggle to maintain lasting upside follow-through.

 

Estonia Trade Deficit Widens In November

Estonia’s foreign trade gap widened in November from a year ago, as imports grew faster than exports, figures from Statistics Estonia showed Wednesday. The trade deficit rose to EUR 111.

 

European Economics Preview: UK Industrial Output Data Due

Industrial production and foreign trade figures from the UK are due on Wednesday, headlining a light day for the European economic news..

 

Sensex, Nifty Open On Flat Note

Indian shares opened on a flat note Wednesday, tracking mixed cues and amid caution ahead of macroeconomic data and key corporate earnings due this week. The benchmark BSE Sensex was marginally higher at 34,460 in lackluster trade, while the broader Nifty index was virtually unchanged at 10,638.

 

South Korea Jobless Rate Falls In December

South Korea’s unemployment rate decreased slightly at the end of the year, figures from Statistics Korea showed Wednesday. The seasonally adjusted jobless rate edged down to 3.

 

Asian Markets Mostly Lower Despite Positive Wall Street Lead

Asian stock markets are mostly lower on Wednesday despite the positive cues overnight from Wall Street amid optimism about the upcoming corporate earnings season.

 

Sensex, Nifty Seen Flat To Higher

Indian shares look set to open flat to slightly higher on Wednesday after the World Bank projected India’s GDP growth to reach 7.3 percent in 2018 and 7.5 percent in the next two years, saying the country has “enormous growth potential” compared to other emerging economies.

 

Thai Bourse May See Continued Strength On Wednesday

The Thai stock market bounced higher again on Tuesday, one session after it had ended the four-day winning streak in which it had advanced almost 55 points or 2.

 

Japanese Market Declines

The Japanese stock market is declining on Wednesday despite the record closing highs overnight on Wall Street, as a stronger yen weighed on exporters’ shares. In late-morning trades, the benchmark Nikkei 225 Index is losing 75.

 

BRAZIL: Profit-taking Hits Ibovespa After 11-day Winning Streak

Ibovespa, the benchmark stock market index in Brazil, interrupted a sequence of 11 sessions trading higher and ended down 0.65% at 78,863.54 points TUesday as investors took profits.

 




Indonesia Bourse May Reverse Tuesday’s Losses

The Indonesia stock market on Tuesday ended the three-day winning streak in which it had jumped more than 130 points or 2.1 percent. The Jakarta Composite Index now rests just beneath the 6,375-point plateau although it may bounce higher again on Wednesday.

 

China Inflation Rises 1.8% On Year In December

Consumer prices in China were up 1.8 percent on year in December, the National Bureau of Statistics said on Wednesday. That missed expectations for an increase of 1.

 

PERU: Government Launches International Campaign To Lure Mining Investors

The Peruvian government will begin a road show to lure investors to the country’s mining sector. Companies from Canada and Australia have already shown interest in initiating activities in mineral exploration in Peru.

 

Australian Market Drifts Lower

The Australian stock market slipped into negative territory on Wednesday after opening higher following the positive cues overnight from Wall Street and the surge in crude oil prices.

 

Hang Seng Tipped To Open In The Green – Again

The win streak has reached 11 sessions for the Hong Kong stock market, which had skyrocketed almost 1,800 points or 6 percent along the way. The Hang Seng Index now rests just beneath the 31,010-point plateau and it’s expected to open higher yet again on Wednesday.

 

China Bourse Tipped To Extend Winning Streak

The China stock market has finished higher in eight straight sessions, advancing more than 135 points or 4.1 percent in that span. The Shanghai Composite Index now rests just shy of the 3,415-point plateau and it’s called higher again on Wednesday.

 

Taiwan Shares Inherit Positive Lead For Wednesday

The Taiwan stock market gave up less than a single point on Tuesday – but that was enough to halt the eight-day winning streak in which it had surged almost 600 points or 5.

 

Win Streak Likely To Continue For Singapore Stocks

The Singapore stock market has climbed higher in back-to-back trading days, advancing almost 35 points or 1 percent along the way. The Straits Times Index now rests just beneath the 3,525-point plateau and it may add to its winnings on Wednesday.

 

Malaysia Stock Market Expected To Rebound On Wednesday

The Malaysia stock market on Tuesday ended the four-day winning streak in which it had advanced more than 50 points or 2.7 percent. The Kuala Lumpur Composite Index now rests just above the 1,825-point plateau although it’s tipped to find renewed support on Wednesday.

 

Renewed Support Predicted For South Korea Shares

The South Korea stock market on Tuesday snapped the two-day winning streak in which it had collected more than 45 points or 1.9 percent. The KOSPI now rests just above the 2,510-point plateau although it’s expected to bounce higher again on Wednesday.

 

China Inflation Data Due On Wednesday

China will on Wednesday release December figures for consumer and producer prices, highlighting a light day for Asia-Pacific economic activity. Consumer prices are expected to rise 1.

 

PETROBRAS: Oil Workers Sign Collective Agreement For Two Years

The Federation of Petroleum Workers (FUP) and the Brazilian state-owned oil company Petrobras signed a 1.73% wage adjustment valid for two years. The agreement also includes an inflation adjustment to salaries in 2018.

 




Major Averages Rise To New Record Closing Highs – U.S. Commentary

Following the mixed performance seen in the previous session, stocks moved mostly higher during trading on Tuesday. With the upward move on the day, the major averages once again climbed to new record closing highs.

 

BRAZIL: House Speaker Signals That He Could Run For President

The Brazilian House of Representatives speaker, Rodrigo Maia, signaled that he could run President in October. In an interview with the “O Globo” newspaper, he said he considers “arrogant” the thesis that there could be only one centrist candidate at the general election.

 

COLOMBIA: Annual Inflation Rate Ends 2017 At 4.09%, Slightly Above 4% Limit

The Colombian Consumer Price Index (CPI) rose 4.09% in December 2017 on an annual basis, decelerating from the 4.12% increase in November, when it grew at the fastest pace since last May, said the country’s statistics office.

 

MEXICO: PPI Decelerates To 4.65% In December On Annual Basis

Mexico’s National Producer Price Index posted a 4.65% annual increase in December, decelerating when compared to the 5.19% advance from November, said the country’s statistics office.

 

MEXICO: December Inflation Accelerates To Highest Level In 16 Years

Mexico’s National Consumer Price Index rose 6.77% in December from a year before, ending 2017 way above the 4% limit set by the country’s central bank. It also accelerated when compared to the 6.

 

COLOMBIA: Government And ELN Resume Talks On Ceasefire Extension

A new Colombian government delegation and leaders of the National Liberation Army (ELN) guerrilla group launched the fifth round of peace talks in Quito, Ecuador, aiming at extending the bilateral ceasefire that expires today.

 

BRAZIL: Retail Sales Rise More Than Expected In November

Retail sales in Brazil rose 0.7% in November from October, the country’s statistics office said on Tuesday. The results, which exclude sales of vehicles and construction materials, were higher than the 0.

 

Stocks Mostly Positive In Mid-Day Trading – U.S. Commentary

After showing a lack of direction earlier in the session, stocks are mostly positive in mid-day trading on Tuesday. Buying interest is relatively subdued, although the major averages did manage to reach new record intraday highs.

 

Fed officials are scrambling to figure out how to fight the next recession

BI PRIME: Fed officials are considering a shift away from their current inflation targeting framework toward more aggressive measures to combat low inflation.

 

Daily Market Roundup (January 10, 2018) – By DailyForex

For more daily news and technical analysis visit: http://www.dailyforex.com

 

Cheer Up

Adage:

“If there is anyone to whom I owe money, I’m prepared to forget it if they are.”
– Errol Flynn

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Have a nice trading!




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