Heads-up News 

Frankfurt Trading Session Heads Up Monday, February 11, 2019

Frankfurt opening news digest

EUR/USD Technical Analysis: Three-Month Support Under Pressure

The Euro is pressuring support guiding it higher against the US Dollar since mid-November after rejection at trend resistance triggered a five-day losing streak.

 

ASEAN FX Eye Stock Losses, USD Gains. Crude Oil Fall May Boost PHP

Stocks look more vulnerable, opening the door to US Dollar gains versus ASEAN currencies. Sentiment-linked crude oil prices may fall with weak demand, benefiting the

 

USD/NOK Eyeing Norway CPI – Slower EU Growth May Hurt Nordics

The Norwegian Krone will be closely eyeing tomorrow’s CPI data as the European economy slows down and may begin to weigh on Norway’s performance.

 

Australian Dollar Crushed. Did RBA Want Just That All Along?

The Australian Dollar wilted last week as the Reserve Bank of Australia altered course on interest rate guidance and lowered forecasts. But was all quite

 

Soft French, Italian Data Sours Sentiment. Nikkei 225 May Fall.

The DAX had its lowest close in over three weeks after dismal French, Italian data. The S&P 500 still pulled through. The stall in the

 

UK: December monthly GDP likely to print 0.2% – TDS

Analysts at TD Securities are expecting an above-consensus December monthly GDP print of +0.2% m/m (mkt: 0.0%) for the UK economy, which is likely to

 

Gold Technical Analysis: Struggling to build on falling channel breakout

Gold convincingly crossed the falling channel hurdle on Friday, signaling an end of the corrective pullback from recent highs above $1,325. So far, ho

 

RBNZ likely to leave the OCR on hold – Westpac

Dominick Stephens, chief economist at Westpac, suggests that they are expecting the RBNZ to leave the OCR on hold but to shift to a strictly neutral m

 

Asian stocks remain on back foot amid risk aversion

Asian stocks stretched Friday’s losses forward during initial Monday as risk aversion pushed global investors off equities. The US-China trade talks,

 

IMF Chief Economist: Fed is right to shelve interest rate hikes – FT

The newly appointed Chief Economist at the International Monetary Fund (IMF) was on the wires last minutes, via The Financial Times (FT), noting that

 

EUR/GBP: Bearish MA cross confirmed ahead of UK GDP, manufacturing data

The EUR/GBP pair is currently trading at 0.8755 and risks falling to last week’s low of 0.8728, as the hourly chart MAs have turned bearish. 

The 50-

 




RBNZ to employ a dovish tone – ANZ

According to analysts at ANZ, the RBNZ Monetary Policy Statement is this week’s headline act.

Key Quotes

“Since November, the labour market has flat

 

USD/CNH Technical Analysis: levels above 6.80 could soon come into play

The USD/CNH pair’s quick recovery from the session low of 6.7646 to 6.7867 reinforces the bullish view put forward by the daily chart below. The pair,

 

Fed announced not only ‘mysterious’, but also a ‘perplexing’ decision – FT

The Financial Times (FT) carried an editorial piece on Monday, shedding some light on the US Federal Reserve’s (Fed) mysterious U-turn seen last month

 

Fed: Early decision calms markets but not a policy change – Standard Chartered

Sonia Meskin, US economist at Standard Chartered, points out that in the past, Fed officials have stated that the long-run system open market account

 

Australian conservatives headed for big election defeat – Newspoll

A widely watched Newspoll for The Australian newspaper, showed that the Australia’s Conservative government is seen facing a huge electoral defeat in

 

EUR/USD: Sliding German yields, close below 200-week MA favors test of January lows

The EUR/USD pair could extend its five-day losing streak with a drop to the January low of 1.1289, courtesy of falling German bond yields and a bearis

 

Market movers for the week ahead – Rabobank

Analysts at Rabobank lists down the key economic releases and events for the markets for the week ahead.

Key Quotes

“Today is a Japanese holiday but

 

AUD/NZD: Increasingly undervalued – Westpac

Sean Callow, analyst at Westpac, notes that the AUD/NZD has started this year drifting higher, reducing what Westpac estimates to be its prolonged und

 

GBP/USD: Bears in control amid Brexit drama, focus shifts to UK GDP

The GBP/USD pair trades little changed around 1.2930 before European session on Monday. The quote came under pressure on Reuters report that the UK PM

 

HIBOR rate hits lowest since June 2017 – Reuters

Hong Kong’s overnight CNH (offshore yuan) interbank offered rate fell to 1.18367 percent today – the lowest level since June 2017. 

The drop to 7.5-m

 

USD/JPY Technical Analysis: 110.00 again comes into play

USD/JPY daily chart

The USD/JPY pair trades positively towards confronting 110.00 at the initial hours of Asian sessions on Monday.
The round-figu

 

Aussie pops in sync with iron-ore futures, as Chinese traders return

Iron ore futures on China’s Dalian Commodity Exchange (DCE) rose to a record on Monday, as the Chinese traders return from their week-long New Year ho

 




USD/INR Technical Analysis: Bearish while below 71.29

Daily chart

Trend: bearish

USD/INR

Overview:

    Today Last Price: 71.245

    Today Daily change: 0.0750 pips

    Today Daily change %: 0.11%

 

AUD: RBA’s shift to neutrality has been a game-changer – Morgan Stanley

Analysts at Morgan Stanley are out with their take on the Aussie dollar and offer a trading recommendation, in response to the recent neutral shift by

 

UK PM May rejects Brexit customs union compromise

Prime Minister Theresa May has rejected the idea of targeting a customs union with the European Union, dashing hopes that she could shift her Brexit p

 

Study: Brexit referendum spurs UK companies into investing in EU – Reuters

According to the latest study by the researchers from the London School of Economics’ Centre for Economic Performance, the UK firms’ investments in th

 

AUD/USD Technical Analysis: oversold bounce underway

The AUD/USD pair is currently trading at 0.71, having clocked a low of 0.7060 last week. 

The 40-pip oversold bounce could be extended further toward

 

Gold steadies on global growth concerns

Gold has steadied above $1,310, after rallying for two days straight on global growth concerns. 

The yellow metal printed a low of $1,302 on Thursday

 

EUR/USD: Downside opening up towards 1.1200 – ING

In their latest client note, analysts at ING Bank offer their outlook on the EUR/USD pair, citing that there is further downside in play, in the wake

 

AUD/JPY Technical Analysis: 77.50 again triggered the bounce targeting 78.77

AUD/JPY daily chart

The AUD/JPY pair stretched its Friday’s bounce to near 78.00 during initial trading hours on Monday.
The 78.77 horizontal-line

 

UK signs post-Brexit trade continuity deal with Switzerland – Bloomberg

The UK and Switzerland signed a trade continuity agreement that will allow both the countries to continue trading with each other after the UK leaves

 

NZD/USD Technical Analysis: Bull RSI divergence on 1H chart, focus on CNH

The NZD/USD pair beat the 200-day moving average (MA) hurdle at 0.6765 soon before press time and could rise further to 0.68 as the hourly chart is re

 

EUR/JPY: Downside stalls with price testing 10-4hr SMA

EUR/JPY has been tracking the performance of global stocks and the ebbs and flows of the market’s risk appetite subject to global growth and trade tal

 

US delegation arrives in Beijing today ahead of US-China trade talks on Feb 14th and 15th

Reuters offers additional insights on the weekend’s headlines, citing that the US-China talks are likely to be held on February 14th and 15th.

 China

 




Apollo nears $3 billion deal to buy 14 Cox TV stations: report

Apollo Global Management LLC APO, -0.60% is close to a $3 billion deal to buy 14 regional TV stations from Cox Enterprises Inc., Reuters reported Sund

 

White House discussing possible trade summit with China at Mar-a-Lago: report

White House officials have discussed President Donald Trump’s Florida club, Mar-a-Lago, as the possible site of a March summit with Chinese President

 

Cheer Up

Adage:

The best time to buy anything is last year.

Cartoon:


Image courtesy: s3.amazonaws.com

Have a nice trading!




Related posts