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Frankfurt Trading Session Heads Up Friday, November 9, 2018

Frankfurt opening news digest

Asia Investment Briefing: Long Road Ahead In Trade War Negotiations

In this episode of the Forbes Asia Investment Briefing, Le Xia of BBVA discusses the U.S.-China trade war, and is optimistic that in the wake of the midterm elections, the U.S. and China will have an incentive to come back to the negotiating table.


Initiative Q Won’t Solve Bitcoin’s Problem

Initiative Q should be compared with Stellar, not Bitcoin.


How Student Debt Is Destroying The Economy And How We Can Stop It In Its Tracks

Student debt isn’t just going to sink the financial ships of the borrowers—it could take down the entire American economy, unless we act now.


Swedish Krona May Rise on First Riksbank Rate Hike in 7 Years

The Krona may rise as Sweden finally reaches its desired inflation target near 2 percent, prompting the first Riksbank interest rate hike in 7 years.


Is Oil’s Longest Tumble in 4 Years Ready to Reverse?

Now down over 20 percent from its October peak and closing a three-decade matching 9-day slide, bears are firmly in control


EUR/GBP Technical Analysis: Corrective Downtrend Pause in Store?

The bearish continuation pattern in EUR/GBP prices preceded a drop as anticipated and more losses could be ahead in the medium-term. There may be a


The S&P 500’s Post-Election Rally Stalls, Pound Holds More Potential than Dollar

The S&P 500 and other major indices stalled following Wednesday’s remarkable, post-election rally undermining trend hopes


EUR/USD Technical Analysis: Euro Down Trend Back in Play

The Euro looks to be resuming its downtrend against the US Dollar after prices broke below support guiding the currency’s recent recovery.


USD Resumes Uptrend on Fed. CAD at Risk to New NAFTA Uncertainty

The US Dollar rose and the S&P 500 sunk as the Fed prepared markets for a December hike. CAD prices fell on new NAFTA deal


Asian stocks retreating as Fed on hold, Nikkei back into ¥22,300.00

Asian stocks got pushed back into retreat after the US Federal Reserve held steady on interest rates in advance of December’s widely-expected rate inc


NZ: Truckometer indexes lifted in October – ANZ

The ANZ Truckometer indexes of New Zealand lifted in October, notes the research team at ANZ.

Key Quotes

“The Heavy Traffic Index bounced back 4.6%


GBP/USD: Brexit still going nowhere, UK GDP in the barrel for Friday

The GBP/USD is trading back into 1.3050 heading into Friday’s data-packed UK market outing as the Cable begins to slip away from the mid-weeks peak at


US 2-year treasury yield hits 10.5-year high

The US two-year, three-year, and five-year yields rose to new decade highs yesterday, as the Fed kept rates unchanged, but reaffirmed its hawkish mone


RBA SoMP: 2019 growth forecast remained at 3 ¼ per cent – Westpac

Bill Evans, Research Analyst at Westpac, notes that the Reserve Bank of Australia has released its November Statement on Monetary Policy and the forec


EUR/USD: hawkish Fed pushes US-DE yield spread to new multi-decade highs

The EUR/USD fell to an eight-day low of 1.1341 in Asia and could drop to 1.13 by NY close, courtesy of widening yield differentials.

The Fed kept int


Brexit: Expectations rising, buy GBP on breakthrough – ANZ

Brian Martin, Senior International Economist at ANZ, suggests that expectations of the EU and UK reaching a Withdrawal Agreement rose recently and ANZ


RBA optimism permeating market pricing – TDS

Annette Beacher, Chief Asia-Pacific Macro Strategist at TD Securities, suggests that the RBA maintained its upbeat view on the domestic economy in its


Australia: Housing finance approvals soften further – Westpac

Matthew Hassan, Research Analyst at Westpac, points out that Australian housing finance approvals continued to soften in September as the headline num


USD/CNH Technical Analysis: Eyes 7.00 after bullish reversal

Daily Chart

Trend: Bullish


    Last Price: 6.9465
    Daily change: 1.1e+2 pips
    Daily change: 0.151%
    Daily Open: 6.936


UK: Key economic events ahead – Nomura

Analysts at Nomura offer a brief preview of Friday’s key macroeconomic releases due on the cards at 0930 GMT.

Key Quotes:

“UK GDP: Based on our fore


USD/JPY: market is likely positioning for further USD gains

The USD/JPY one-month 25 delta risk reversal (JPY1MRR) hit five-week highs Friday, signaling that investors are likely positioning for further dollar


Federal Court blocks Keystone XL pipeline, CAD drops

Reuters is out with the latest headlines, citing that the Federal Court has blocked the Keystone XL pipeline, with the key points found below.

“The T


Gold’s price hit 8-day low in Asia

Gold’s price hit an 8-day low of $1,219 in Asia despite losses in the major equity markets.

The yellow metal eroded trendline rising from the Oct. 9


UK retail sales fall ahead of year-end promotions – BDO Survey

The latest survey conducted by the accountancy and business advisory firm BDO, the UK”s retail consumer spendings declined in annual terms during Octo


Oil testing lower as buyers flee for the hills, WTI dropping from $60.50

Broader oil markets continue to see steady declines, and WTI barrels have fallen by 20% in barely sick weeks.

With oil market now officially in “bear


EUR/JPY Technical Analysis: eroding key rising trendline, recovery rally falling apart

Hourly Chart

Trend: Bearish


    Last Price: 129.33
    Daily change: -17 pips
    Daily change: -0.131%
    Daily Open: 129.5


Mexican EcoMin Guajardo: US, Mexico, Canada Ministers to sign trade pact Nov. 30

The Mexican Economy Minister Ildefonso Guajardo announced at an event in Mexico City late-Thursday, the Cabinet Ministers from the US, Mexico and Cana


Japanese corporate wary of prolonged, intensifying US-China trade war – Reuters poll

Half of the Japanese companies are worried that a prolonged US-Sino trade war will indirectly hurt export-reliant Japan, the latest Reuters monthly po


AUD/JPY into 50-hour MA on China CPI 0.2% miss

China’s CPI dipped to 0.2% in the month-on-month reading for October, sending the Aussie knocking lower as risk appetite unravels in the early Asia


Economists see 25% chance of a no deal Brexit as clock ticks – Reuters poll

According to the economists polled by Reuters this week, a quarter of them believes that both the UK and the European Union (EU) will fail to reach a


USD/JPY Technical Analysis: Re-test of bullish 5-day EMA support likely

Hourly Chart

Trend: minor pullback likely before further gains


    Last Price: 113.88
    Daily change: -11 pips
    Daily cha


US acuses China of violating anti-hacking arrangement – Reuters

As reported by Reuters, a US intelligence official has accused China of violating a bilateral agreement between the two nations to avoid ‘hacking’ of


AUD/USD keeps losses as China’s PPI growth slows to 3.3%

The AUD/USD is currently trading at 0.7250, representing a 0.10 percent drop on the day, and may drop further on bearish technical setup and dismal Ch


China’s CPI drops to 0.2% m/m in October, meets estimates

According to the latest data published by China’s the National Bureau of Statistics (NBS), the Chinese Consumer Price Index (MoM) (October) eased to +


China Consumer Price Index (MoM) meets forecasts (0.2%) in October

China Consumer Price Index (MoM) meets forecasts (0.2%) in October


China Producer Price Index (YoY) below forecasts (3.4%) in October: Actual (3.3%)

China Producer Price Index (YoY) below forecasts (3.4%) in October: Actual (3.3%)


China Consumer Price Index (YoY) in line with forecasts (2.5%) in October

China Consumer Price Index (YoY) in line with forecasts (2.5%) in October


PBOC set the yuan reference rate at 6.9329

The People’s Bank of China (PBOC) set the yuan reference rate at 6.9329 vs the previous day’s fix of 6.9163.


Societe Generale: Yen “cheap” for now, but to rise in 2019 – Bloomerg

As noted by Bloomberg, analysts at Societe Generale are warning that the Japanese Yen could undergo a “big awakening” in 2019.

Key quotes

“Using opt


Amazon’s cloud CEO just pooh-poohed employee concerns about selling its facial-recognition software to ICE and law enforcement

Andy Jassy, CEO of Amazon Web Services, largely dismissed employee worries about the use of Rekognition by law enforcement agencies.


$9.95 billion Dropbox beats Wall Street expectations, but analysts still aren’t sure if it can crack the enterprise space

$9.95 billion file sharing company Dropbox posted its earnings today. It beat Wall Street expectations, but here’s what analysts have to say.


Sundar Pichai is ending Google’s once famous partying culture by limiting drinking at work and threatening ‘more onerous actions’

Google says it will hold managers responsible for discouraging excessive drinking, not just in the office, but at any event.


The founder of Vine just announced the name of his next video app — and it’s set to launch in spring 2019

On Thursday, Vine founder Dom Hoffman revealed he would be releasing a new looping video app called Byte early next year.


Is Oil’s Longest Tumble in 4 Years Ready to Reverse?

Talking Points: • The US-standard WTI crude oil contract has dropped to its lowest level in 8 months through Thursday’s close • Now down over 20 percent from…


The S&P 500’s Post-Election Rally Stalls, Pound Holds More Potential than Dollar

Talking Points: • The S&P 500 and other major indices stalled following Wednesday’s remarkable, post-election rally undermining trend hopes • China’s trade b…


Cheer Up


The farther price is from a linear trend, the more likely it is to correct.


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