Heads-up News 

Frankfurt Trading Session Heads Up Friday, June 14, 2019

Frankfurt opening news digest

AUDUSD Chart Analysis: Aussie Dollar Resumes Downtrend, Eyes 0.67

The Australian Dollar looks to have resumed the downtrend against its US counterpart, with chart positioning warning of a decline to test the 0.67 figure ahead.

 

NZDUSD, AUDUSD Tumble to Support. RBNZ, RBA Rate Cut Bets Deepen

The NZDUSD and AUDUSD are tumbling to support as increasingly dovish RBNZ and RBA monetary policy bets are undermining their appeal, boosting the Japanese Yen as carry trades unwind.

 

Will EURUSD Draw Some of the Trade War Winds from the Dow?

Another threat of a lateral jump in the trade war emerged as the US considers sanctions on Germany for its Russia-connected gas line

 

USDCAD Rate Rebound Fizzles Ahead of US Retail Sales Report

The rebound in USDCAD appears to be stalling ahead of the US Retail Sales report as the exchange rate fails to extend the recent series of higher highs and lows.

 

AUDCAD Eyes October Low, Crude Oil Prices Rise on US-Iran Tension

AUDCAD closed at its lowest since October on Middle East geopolitical concerns as the Canadian Dollar rose with crude oil prices. The Australian Dollar is eyeing Chinese data ahead.

 

EUR/GBP technical analysis: Choppy inside symmetrical triangle

EUR/GBP is gradually reaching towards the breakout points of a week-long symmetrical triangle as it trades near 0.8895 on early Friday.

 

RBA: Next rate cut is July or August? – Westpac

Analysts at Westpac note that the Australia’s patchy data this week left markets debating whether the next rate cut is July or August. Key Quotes “In

 

Japan Industrial Production (YoY) meets forecasts (-1.1%) in April

Japan Industrial Production (YoY) meets forecasts (-1.1%) in April

 

Japan Capacity Utilization registered at 1.6% above expectations (0.2%) in April

Japan Capacity Utilization registered at 1.6% above expectations (0.2%) in April

 

Japan Industrial Production (MoM) meets forecasts (0.6%) in April

Japan Industrial Production (MoM) meets forecasts (0.6%) in April

 

Netherlands, The Retail Sales (YoY) rose from previous 1.1% to 4.7% in April

Netherlands, The Retail Sales (YoY) rose from previous 1.1% to 4.7% in April

 




Australia: Third weak quarter of growth – NAB

Analysts at National Australia Bank point out that the Australia’s Q1 national accounts confirmed a third weak quarter of growth as the household sect

 

Japan’s Kokuka President: No possibility tanker was attacked by torpedo, was damaged by flying objects

Yutaka Katada, the President of the Japanese shipping company Kokuka Sangyo Ltd, is on the wires now, via Reuters, shedding some light on the oil tank

 

GBP/USD on a back foot as traders await fresh clues from BOE’s Carney

With the latest political developments at the UK likely favoring a hard Brexit, investors await fresh clues from speech by the BOE’s Carney for fresh impulse.

 

EUR/USD flirts with 100-day MA support ahead of China data

 

French FinMin Le Maire: EU Ministers agree to the EU Budget – AFP

The French news agency, Agence France-Presse (AFP), reported the latest comments by the French Finance Minister Le Maire, as he says that the European

 

USD/JPY technical analysis: Sellers follow 6-week long descending channel

While a downward sloping trend channel aptly portrays the USD/JPY pair’s decline since early May, the latest pullback highlights monthly lows for sellers.

 

Indonesia’s retail sales rise 6.7% y/y in April – BI Survey (USD/IDR at weekly tops)

According to the latest survey conducted by Bank Indonesia (BI), the Indonesian central bank, Indonesia’s retail sales rose 6.7% on the year in April

 

Gold trades at record high in Australia, hits 26-month high in EUR terms

Gold has risen to record highs in AUD terms amid growing calls for aggressive Reserve Bank of Australia (RBA) rate cuts. National Bank of Australia re

 

EU thinks UK could be hit 10 times as hard by no deal News – The Independent

The UK daily, the Independent, carried the latest analysis by the European Commission that showed the European Union (EU) officials are working on the

 

Asian stocks trade mixed amid rally in gold prices

Asian stocks are struggling for direction, possibly due to caution ahead of next week’s Fed meeting. Gold is trading at the highest level since June

 

Canadian PM Trudeau to visit Washington to seek support in China row

Canadian Prime Minister (PM) Office released a statement late-Thursday, citing that PM Justin Trudeau will travel to Washington on June 20th to discus

 

US: Key focus on core Retail Sales – Scotiabank

The Scotiabank analysts offer a sneak peek into what to expect from Friday’s US retail sales report due on the cards at 1230 GMT. Key Quotes: “Cooler

 




US cuts tariffs on South Korean made hot-rolled steel – Yonhap

The U.S. Department of Commerce has decided to sharply reduce its tariffs on hot-rolled steel products from South Korean steelmakers, industry sources

 

AUD/USD slips to three-week lows on aggressive RBA rate cut calls

The Australian Dollar is feeling the pull of gravity with major banks forecasting aggressive interest rate cuts by the Reserve bank of Australia.

 

AUD/JPY: Bears concentrate on geopolitics ahead of China data

Not only risk concerning the US-Iran war but likely trade tussle between the US and China also drags the AUD/JPY pair down to the fresh low since early January.

 

NAB forecasts RBA to cut cash rate to 0.75% in November – NAB

National Australia Bank forecasts RBA to cut cash rate to 0.75% in November. Full report: “We have changed our view on the cash rate, to include an ex

 

NZD/USD drops for fifth consecutive day to hit lowest since June 3

 

DoubleLine’s Gundlach: Sees US recession chance at 40-50% in 6 months

Jeffrey Gundlach, Wall Street’s bond king and Founder and Chief Executive Officer of DoubleLine, which manages $120 billion, says that there are incre

 

EUR/JPY technical analysis: Ascending trend-line, channel support to challenge bears amid oversold RSI

Despite trading near the week’s lows surrounding 122.15, EUR/JPY might find it hard to extend the latest weakness as it is still left to clear key supports.

 

Rumour: US military have released video that shows Iranian involvement in tanker attacks

Iran Foreign Minister Zarif (via Twitter) has crossed the wires suggesting that the US immediately jumped to make allegations against Iran. Meanwhile,

 

PBOC sets Yuan reference rate at 6.8937

The People’s Bank of China (PBOC) has set the Yuan reference rate at 6.8937 vs Thursday’s fix of 6.8934.

 

Gold nearing the year’s high amid US-Iran rift

Safe havens including Gold are on the bids as a recent tussle between the US and Iran over 2 oil tankers’ blast in the Gulf of Oman turns serious.

 

China hikes dumping duties on US, EU steel tubes

China has reportedly raised dumping duties on US’ and EU’s seamless steel tubes and pipes to 60.8% and the new meaures will take effect on Friday.

 

WTI technical analysis: Price holds at trendline support

WTI trades around the 200 weekly EMA near 52.50 and bears will look for a push below the 14th Jan 50.41 low which guards the 26th November lows at 49

 




Uber, MasterCard, Visa and other big companies have reportedly signed on to Facebook’s blockchain efforts

Facebook is almost ready to unveil its secretive cryptocurrency.

 

U.S. companies urge Trump to find solution to end trade war

A group of more than 600 U.S. companies, including Walmart Inc. and Target Corp. , urged President Donald Trump to end the tariff war with China on Thursday,…

 

Chewy IPO is no dog: More shares to sell at higher price, total raise tops $1 billion

Chewy Inc. said Thursday that it will sell more shares at a higher price than it originally expected in an initial public offering. The online pet-products…

 

Will EURUSD Draw Some of the Trade War Winds from the Dow? (Trading Video)

Trade War Talking Points: • While the White House’s Kudlow tried to play down trade war risks, the IMF, SNB and a group of over 600 US businesses warned Trum…

 

Cheer Up

Adage:

Q: What is Dick Cheney’s solution to this financial crisis?
A: Approving waterboarding for stockbrokers and CEOs!’

Cartoon:


Image courtesy: www.forexfactory.com

Have a nice trading!




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