Heads-up News 

Frankfurt Trading Session Heads Up Friday, August 10, 2018

Frankfurt opening news digest

Apple Is The New Exxon: Data Is The New Oil And The Path To The First $10 Trillion Company

The march to a $1 trillion market cap took 20 years from the previous record of $100 billion that GE was the first to capture in 1995; and it was 40 years earlier that GM was first to the $10 billion mark. Odds are it’ll be just 10 years before $10 trillion is breached. Will it be Amazon?


Asia Investment Briefing: Standard Chartered Warns Against China Growth Complacency

The latest episode of the Forbes Asia Investment Briefing comes from Standard Chartered’s chief Greater China and North Asia economist, Shuang Ding. He tells us what’s caught his eye this week, and what he’ll be watching for over the coming weeks and months.


SEC Delay Hits Bitcoin By 10% And Wipes Out $10 Billion

All it takes is the SEC to delay a decision to wipe out over $10 billion in Bitcoin’s market cap


Four Reasons To Invest In The Cheapest Wireless Company On The Planet

SK Telecom, South Korea’s leading wireless telecom provider, looks like an attractive value investment for long-term investors.


How To Protect Yourself From The New Breed Of Sketchy Amazon Sellers

At 174 times earnings, Amazon is priced to perfection. If there is any part of the business that is not rock solid, it bears close scrutiny. I have received so many emails from readers who have had bad experiences with sketchy Amazon sellers that it is worth another look.


AUD/NZD Nets Out Market Mood Swings, Focus On RBA & RBNZ Policy

AUD/NZD can at times net out market mood swings, behaving as “risk neutral”. This allows it to focus more on Reserve Bank of Australia and


Two Ways to Trade the New Zealand Dollar Tumble

See how retail traders are positioning in NZDUSD intraday using the DailyFX speculative positioning data on the sentiment page.

It is rare nowadays t


Pound May Shrug Off UK GDP, US Dollar to Focus on Trade Wars

The British Pound may shrug off upbeat UK GDP data while the US Dollar looks past CPI inflation data to focus on trade talks between


Yen Steady After Positive GDP Data Markets Eye US CPI

The Yen remains steady despite positive GDP data, with markets eyeing US inflation data and the outcome of trade talks between US and Japan.


EURUSD On the Verge of a Technical Break, S&P 500 Inactivity Should Trouble Bulls

The three-day historical range from the S&P 500 is the smallest in percentage terms in 2018 and one of the smallest in decades


Near-term Setups in AUD/USD and NZD/USD

Updates on near-term technical trade setups we’ve been tracking in the Australian & New Zealand Dollars. (AUD/USD & NZD/USD)


USD Appreciates, NZD Down. Yen to Look Past GDP – Asia Market Wrap

The US Dollar appreciated across the board on Thursday while the New Zealand Dollar depreciated. Ahead, the Japanese Yen may look past an improvement in


USD/TRY hit a new record high in early Europe, TRY puts value at 7-year high

The USD/TRY pair has hit a new record high of 5.75 today, beating the previous high of 5.56 set yesterday.

Turkey’s currency has dropped close to 10


Japan: Growth tops consensus forecast – Nomura

Takashi Miwa, Research Analyst at Nomura, notes that the Japan’s first preliminary 2018 Q2 GDP estimates released on 10 August show real GDP up 1.9% q


Japan Tertiary Industry Index (MoM) below expectations (-0.2%) in July: Actual (-0.5%)

Japan Tertiary Industry Index (MoM) below expectations (-0.2%) in July: Actual (-0.5%)


Iraq oil output hit 13-month high in July

Iraq’s oil production rose to a 13-month high of 4.46 million barrels per day (bpd) in July, the Iraqi State Oil Marketing Organization (SOMO) said on


EUR/GBP Technical Levels: Prepped for another leg higher

15-minute chart

Spot Rate: 0.8985

Daily High: 0.8990

Daily Low: 0.8981

Trend: Bullish


R1: 0.90 (psychological level)

R2: 0.9017 (r


GBP/USD trapped near 12-month lows ahead of an active Friday.

The GBP/USD is trading into 1.2830 heading into Friday’s London market session after the US Dollar saw a resurgence in Thursday’s latter half, taking


RBA: Utopia by 2020 – TDS

Annette Beacher, Chief Asia-Pacific Macro Strategist at TD Securities, notes that the RBA delivered an as-expected upbeat outlook for the global econo


Japan: Core machinery orders weak in June – Nomura

According to analysts at Nomura, Japanese machinery order statistics for June 2018 were weak on the whole as core machinery orders (private sector, ex


EUR/USD: Bears reinforced ahead of the US CPI release

The EUR/USD closed yesterday at 1.1527 – the lowest level since July 20, 2017 – having faced rejection at the lower end of the pennant (former support


USD/JPY slips from 111 as Japan GDP bolsters Yen

The USD/JPY pairing is testing down into the 110.85 region for Friday after a bump in Japan’s GDP readings gave the JPY a boost against the broader ma


US CPI to rise 0.1% m/m in July – Barclays

According to the Barclays Research Team, the US inflation figures are expected to have edged higher in the month of July.

Key Quotes:

“For the July


NZ: Retail spending on electronic cards increased 0.7% in July – ANZ

Kyle Uerata, Economic Statistician at ANZ, notes that New Zealand’s retail spending on electronic cards increased 0.7% m/m in July (seasonally adjuste


US: Weaker PPI figures for July – Nomura

Analysts at Nomura note that the US headline PPI was unchanged m-o-m in July, weaker than expected (Consensus: 0.2%) as prices for food (-0.1% m-o-m),


Oil Technical Analysis: Brent on slippery ground after bear flag breakdown

Hourly chart

Current Price: $72.02

Daily High: $72.15

Daily Low: $71.83

Trend: Bearish


R1: $72.49 (June 18 low)

R2: $72.84 (5-day


South Korea’s FinMin: Deepening trade tensions, unemployment weigh on economy

South Korea’s Finance Ministry published its monthly economic assessment report on Friday,      with the key headlines found below (courtesy Reuters).


Dollar Index continues to diverge from UST yields, focus on CPI

The USD exchange rate, as represented by the dollar index, clocked a three-week high of 95.65 in Asia, having rallied 0.54 percent yesterday.

It is w


Canada: Economy to add 20k jobs in July – TDS

Analysts at TD Securities (TDS) provide a brief preview of what to expect from today’s Canadian employment data due on the cards at 1230 GMT.

Key Quo


USD/CNH Technical Analysis: Offshore yuan is not of the wood yet

Hourly chart

Spot Rate: 6.8430.

Daily High: 6.8479

Daily Low: 6.8279

Trend: Bullish


R1: 6.8566 (daily pivot resistance 1)

R2: 6.88


North Korea accuses US for pressing international sanctions – Reuters

A North Korean Foreign Ministry spokesman accused the US on pressing for international sanctions on the North, in a statement on state-run KCNA late-T


NZD/USD drops below 0.66 for the first time since March 2016

The NZD bears are on the offensive, having pushed the currency down to the 29-month low of 0.6593 today.  

At press time, the NZD/USD pair is trading


Asian stocks mixed, edging into bear territory as trade concerns weigh

Asian equities are leaning towards the downside for Friday, with Japan’s Nikkei 225 index back into the 22,400.00 region despite a positive showing fo


UK Q2 GDP around 0.4% m/m in June – Barclays

The Barclays Research Team offers its insights on today’s UK second-quarter GDP monthly and quarterly figures that will drop in at 0830 GMT.

Key Quot


AUD/USD: on the defensive, RBA trims inflation forecasts

The AUD/USD pair is trading at a five-day low of 0.7366, having created a bearish outside-day candle yesterday and risks falling further, courtesy of


New Zealand’s Fonterra cut its 2017/2018 farm gate milk price

Headlines crossed the wires from New Zealand’s dairy giant Fonterra earlier today, via Reuters, citing that it slashed the farm gate milk price.



AUD/JPY unmoved just above 81.50 following bland RBA Policy Statement

The AUD/JPY is trading into 81.70 following the Reserve Bank of Australia’s (RBA) Statement of Monetary Policy, which saw little new information for t


RBA SoMP: Decline in AUD would be positive for growth, inflation

In its quarterly Statement of Monetary Policy (SoMP) released on Friday, the Reserve Bank of Australia (RBA), highlights that the depreciation in the


PBOC set the Yuan reference rate at 6.8395

The People’s Bank of China (PBOC) set the Yuan reference rate at 6.8395 vs the previous day’s fix of 6.8317.


China paper accuses US of suffering from ‘waning hegemony’ – Reuters

According to reporting by Reuters, a state-run Chinese newspaper, The People’s Daily, is saying that the current US-China trade frictions are a result


NZD/USD: some undershoot of fair value range is likely – ANZ

Analysts at ANZ explained that the NZD/USD is now sitting below the bottom of their short-term fair value range, but said some undershoot is likely.


Japan’s Motegi holds trade talks with US, still prefers TPP deal – Reuters

As reported by Reuters, Japan’s Economy Minister Toshimitsu Motegi had a “frank exchange” with US Trade Representative Robert Lighthizer, but Japan se


Qualcomm reaches $89 million antitrust settlement with Taiwan: reports

Qualcomm Inc. QCOM, -0.12% has reached a settlement with antitrust regulators in Taiwan to sharply reduce its fine, according to reports Thursday nigh


Mesa Air shrinks its IPO, prices below range

Mesa Air Group Inc. MESA, +0.00% announced Thursday afternoon that it would sell fewer shares at a lower price than it originally expected in its init


CareDX stock soars nearly 20% after earnings

CareDX Inc. CDNA, +1.63% shares surged 17% in the extended session Thursday after the company reported second-quarter earnings. The company reported s


Two Ways to Trade the New Zealand Dollar Tumble

Talking Points: • Though the dovish rhetoric in the RBNZ’s hold Thursday wasn’t a surprise, it sparked a sharp drop to multi-year lows • The Kiwi’s volatile …


Cheer Up


Q: What does AIG stands for?
A: Adventures in Greed!


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Have a nice trading!

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