Heads-up News 

Frankfurt Trading Session Heads Up Monday, March 18, 2019

Frankfurt opening news digest

Oil Prices Are On Course To An April High

The last posting about the oil price on February 17th pointed to higher prices into April. Oil was at $55.59 per barrel and has risen 5.3% to date. As

 

USD/SEK, USD/NOK Watching FOMC, Norges Bank Meeting

Local economic data out of Sweden and Norway remains relatively light (apart from the latter’s central bank meeting), leaving USD/SEK, USD/NOK on the lookout for

 

Less Dovish Fed May Boost USD/SGD as More Dovish BSP Lifts USD/PHP

The US Dollar may rise on a Fed that is not quite as dovish as markets expect, sending USD/SGD higher as ASEAN currencies depreciate. USD/PHP

 

Euro, Swiss Franc, European Bond Markets Eye Yellow Vest Protests

The Yellow Vest protests in France are re-erupting and Macron is once again on the defensive. A bold fiscal spending plan looks to be in

 

EUR/USD Technical Analysis: Euro Down Trend Expected to Resume

The Euro is back at trend-defining resistance against the US Dollar, with near-term chart positioning hinting that downside resumption is the likely path forward.

 

US: All eyes on Fed this week – NBF

According to analysts at National Bank Financial, the highlight of the week in the US will be the central bank’s monetary policy meeting.

Key Quotes

 

USD longs added, EUR shorts increased – ANZ

According to the CFTC’s positioning data for the week ending 12 March 2019, leveraged funds turned net USD buyers after two weeks of net selling, but

 

EUR/USD Technical Analysis: Pennant breakout seen in 4h chart

The pennant breakout seen in EUR/USD’s 4-hour chart indicates the rally from the March 7 low of 1.1176 has resumed and 1.1363 (76.4% Fib R of 1.1420/1

 

USD/CHF Technical Analysis: 50-day SMA, immediate supportline can challenge recent pullback around 0.9990/80

USD/CHF daily chart

USD/CHF trades near 1.0015 while heading towards European session on Monday.
The quote took a U-turn from 1.0120/30 area, incl

 

NZ: Mixed picture of the economy – ANZ

In view of analysts at ANZ, drivers of New Zealand’s economic growth have shifted and this has been reflected in a changing economic landscape regiona

 

Australia: Employment likely to fall by –5k in February – Westpac

Justin Smirk, analyst at Westpac, suggests that their –5k forecast for February is more about monthly volatility than the start of a new trend for the

 




USD/CAD Technical Analysis: Today’s close pivotal

USD/CAD created a big doji candle – a sign of indecision in the market place – neutralizing the immediate bearish move. 

Notably, the doji candle has

 

Fed may announce an end for quantitative tightening – ANZ

Analysts at ANZ points out that the Federal Reserve’s Federal Open Market Committee (FOMC) meets this week and the recent Fed guidance points to it cu

 

China: Uncertainty around economic data – NAB

Gerard Burg, senior economist at NAB, suggests that the uncertainty around the accuracy of Chinese official data has inspired a range of alternative m

 

Japan Industrial Production (YoY) above expectations (0%) in January: Actual (0.3%)

Japan Industrial Production (YoY) above expectations (0%) in January: Actual (0.3%)

 

GBP/USD: Buyers and sellers jostle around Brexit reports, Fed expectations near 1.3300

The GBP/USD pair clings to 1.3300 ahead of London open on Monday. The quote struggled between optimism surrounding soft/delayed Brexit, doubts over th

 

Japan Capacity Utilization came in at -4.7%, below expectations (-0.3%) in January

Japan Capacity Utilization came in at -4.7%, below expectations (-0.3%) in January

 

Japan Industrial Production (MoM) came in at -3.4%, above expectations (-3.7%) in January

Japan Industrial Production (MoM) came in at -3.4%, above expectations (-3.7%) in January

 

GBP/JPY Technical Analysis: 147.66 is a strong support

GBP/JPY pair is currently trading at 148.27, having persistently defended 147.66 (23.6% Fib R of 143.72/148.78) over the second half of the last week.

 

FOMC: Risks are skewed toward a dovish surprise – Barclays

The Barclays Research Team is out with a sneak peek at what to expect from Wednesday’s FOMC monetary policy decision due to be announced at 1800 GMT.

 

EUR/USD: US-DE 2-yr bond yield spread hits 11-month low in EUR-positive manner

EUR/USD clocked a high of 1.1344 on Friday, the highest level since March 4, as weak US data pushed Treasury yields lower. 

The US Empire State manuf

 

Gold: Improving risk sentiment recalls sub-$1300 area

Gold prices slid back to sub-$1300 region around early Monday. Optimism surrounding delayed Brexit largely played its role to propel the yellow metal

 

AUD/USD jumps above 21-day MA of 0.71 with rally 2% rise in iron ore

AUD/USD crossed the 21-day moving average (MA) of 0.71 soon before press time and is currently trading at a session high of 0.7110. 

The Aussie dolla

 




Russia’s Novak: Talks need to be held in May to decide OPEC+ future output policy

Reuters reports Russian Energy Minister Novak’s comment cited in a statement published by the Energy Ministry of Azerbaijan on Sunday, ahead of a meet

 

AUD/USD risk reversals hit three-month highs on waning put demand

One-month 25 delta risk reversals on AUD/USD (AU1MRR), a gauge of calls to puts, is currently trading at -0.70 in favor of puts (bearish bets) – the h

 

UK FinMin Hammond: “Significant numbers” of MPs support May’s plan, but “not there yet”

In an interview with BBC on Sunday, the UK Finance Minister Philip Hammond noted that significant numbers of Tory MPs are coming on board with PM May’

 

USD/JPY Technical Analysis: Breakout confirmed on the line chart

USD/JPY could challenge last week’s highs above 111.80, having confirmed a flag breakout with a move above 111.53 in early Asia, according to the hour

 

NZD/USD trapped in expanding falling channel ahead of Fed and New Zealand GDP

NZD/USD is stuck in a descending broadening channel for the sixth straight day, according to 4-hour chart. 

The bulls failed to force a convincing br

 

FOMC preview: All eyes on the 2019 dot plot – TDS

Analysts at TD Securities (TDS) offer a detailed preview of Wednesday’s Federal Open Market Committee (FOMC) monetary policy announcement that is sche

 

NZIER lowers New Zealand’s 2019 GDP forecasts

The latest quarterly survey of economists at the New Zealand Institute of Economic Research (NZIER) showed that the economists made a downward revisio

 

EUR/USD Technical Analysis: Bulls looking for a test through the 78.6% Fibo and channel resistance

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are

 

Saudi OilMin Al-Falih: OPEC needs ‘to stay the course’ on supply cut pact

Reuters reports the latest comments from Saudi Arabian Energy Minister Khalid al-Falih on Sunday, who was speaking at a press briefing in Baku,

Al-Fa

 

AUD/JPY Technical Analysis: 23.6% Fibonacci retracement, ascending support-line offer 79.30-78.90 trading range

AUD/JPY 4-Hour chart

AUD/JPY

Overview:
    Today Last Price: 79.05
    Today Daily change: 0.08 pips
    Today Daily change %: 0.10%
    Today Da

 

Japan trade surplus with US declined 0.9% in February

Japan’s trade surplus with the US fell 0.9 percent year-on-year to JPY 624.9 billion in February. Exports to US registered 2 percent growth, while imp

 

GBP/JPY: Expectations of orderly Brexit weighs on political noise

The British Pound (GBP) is taking bids around 148.20 versus the Japanese Yen (JPY) during early Monday. The GBP/JPY pair is under pressure due to rece

 




Proposed Trump-Xi summit to end trade war may be pushed back to June: report

A proposed summit between President Donald Trump and China’s Xi Jinping to end the trade war may be pushed back to June, the South China Morning News…

 

Casino operators Eldorado, Caesars are talking merger: reports

Eldorado Resorts Inc. and Caesars Entertainment Corp. are in early merger discussions, Reuters reported Sunday. Activist investor Carl Icahn has recently…

 

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Have a nice trading!




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