Heads-up News 

Frankfurt Trading Session Heads Up Thursday, August 9, 2018

Frankfurt opening news digest

A Promise Elon Musk And Tesla Can’t Break

Elon Musk’s been given tremendous leeway by his investors. His guarantee that all current Tesla shareholders can participate in its potential take-private is a promise the billionaire simply can’t break.


Gold Price Chart Hints at Bottoming After US 10-Year Bond Auction

Gold prices may carving out a bottom after impressive uptake at a record-setting US bond auction sent yields and the US Dollar down in tandem.


Nikkei 225 Technical Analysis: Range Shows No Sign of Losing Grip

The Nikkei 225 remains stuck in an established trading range at what are quite high levels by recent standards. It has this in common with


USD/JPY Weakness Looks Overdone Given Fundamentals

The Japanese Yen has picked up some technical momentum against the US Dollar, which has strengthened it elsewhere. However the fundamentals will reassert themselves eventually


AUD/NZD May Rise More After Dovish RBNZ & Neutral RBA, Now Long

A relatively dovish RBNZ and a neutral RBA opens the door for Australian Dollar gains against the New Zealand Dollar ahead. We entered long at


EUR/GBP Technical Analysis: Euro Takes Aim at Ten-Month Range Top

The Euro is accelerating higher against the British Pound, with prices poised to break out of the choppy range containing them for the past ten


Extreme Quiet for the S&P 500 Short of Record, Pound and Kiwi Slide

Despite nearing a record high, the S&P 500 activity level is at its lowest since December. Meanwhile, Pound and Kiwi Dollar have sharply fallen but


RBNZ Hurt NZD. USD, Oil Fell. FX Eye Sentiment – Asia Market Open

A dovish RBNZ hurt the New Zealand Dollar after sentiment deteriorated as the US Dollar, crude oil and S&P 500 fell. FX looks to how


NZD Pares Losses After RBNZ Forward Guidance, Looks to US CPI

RBNZ Governor Orr’s remarks helped NZD/USD slightly reverse its bearish action after the policy decision. The pair eyes US CPI data for next moves.


RBNZ: Forward guidance was unexpectedly dovish – TDS

Analysts at TD Securities note that the RBNZ left the cash rate at 1.75% as widely anticipated, but the forward guidance was unexpectedly dovish, with


China: Moderate CPI rise will not affect the easing/stimulus agenda – Nomura

Analysts at Nomura note that the China’s consumer price index (CPI) inflation ticked up to 2.1% y-o-y in July from 1.9% in June and the small rise in


WTI oil: off 7-month lows, trades around $67.00

Currently, the US oil prices are trading at $67.00, having hit a seven-week high of $66.36 yesterday.

The escalating US-China trade tensions and sign


Netherlands, The Manufacturing Output (MoM) down to -0.1% in June from previous 0.4%

Netherlands, The Manufacturing Output (MoM) down to -0.1% in June from previous 0.4%


GBP/USD continuing to sag as Friday’s UK GDP reading looms ahead

The GBP/USD pair is trading into 1.2875 after seeing decline on Wednesday, falling from a high of 1.2960 as bearish sentiment continues to factor heav


USD/JPY Technical Analysis: Corrective rally likely after upside break of the falling wedge pattern

Hourly chart

Spot Rate: 110.81

Daily High: 111.00

Daily Low: 110.71

Trend: Bullish above 110.87 (wedge resistance)


R1: 110.87 (top


Australia: Significant increase in short-term wholesale interest rates – Westpac

According to analysts at Westpac, the significant increase in short-term wholesale interest rates and associated volatility has been a key topic of de


EUR/USD consolidates above 1.16, awaits fresh leads

The EUR/USD is holding above 1.16, despite having faced rejection at the pennant hurdle (lower end now acting as resistance) on Wednesday.

At press t


Asian stocks halt slide on positive China CPI, Nikkei 225 still back on Japan figures

Asian equities started Thursday’s trading off on the wrong foot with most indexes seeing declines in  the early hours of trading on the back of rising


RBNZ: Patient, amid mixed messages – Nomura

Andrew Ticehurst, Research Analyst at Nomura, notes that the Reserve Bank of New Zealand (RBNZ) today announced an unchanged cash rate, at 1.75%, as w


RBNZ: OCR will remain low for a long period of time – Westpac

The Reserve Bank of New Zealand repeated its message that the Official Cash Rate (OCR) will remain low for a long period of time, and that the next mo


AUD/USD: risk reversals retrace bearis bias, hit one-month high

The AUD one-month 25 delta risk reversals rose to -0.75 today – the highest level since July 9, having hit a low of -1.00 on July 20.

The rise from –


Odds increase of a ‘no deal’ Brexit that would hurt Sterling – Reuters poll

The latest Reuters poll of economists and foreign exchange strategists showed that the chances of a ‘no Brexit deal’ have increased, which is likely t


South Korea Money Supply Growth down to 6.6% in June from previous 6.7%

South Korea Money Supply Growth down to 6.6% in June from previous 6.7%


Japan: Expect Q2 real GDP growth of 1.4% q-o-q annualized – Nomura

Analysts at Nomura offer a sneak peek into Friday’s Japanese Q2 GDP figures due to be reported at 2350 GMT.

Key Quotes:

“We expect Q2 (April-June) r


NZD/USD Review: Kiwi hit 29-month low on RBNZ’s dovish forward guidance

The NZD bears are ruling the roost after the RBNZ’s unexpected dovish forward guidance.

The currency pair fell to a 29 – month low of 0.6664 earlier


BoJ seen laying groundwork but still far from stimulus exit: Reuters poll

According to the latest Reuters poll of economists, a third of economists believe the Bank of Japan’s (BoJ) latest action to make its policy more flex


GBP/JPY Technical Analysis: Bull RSI divergence may offer relief

Hourly chart

Spot Rate: 142.60

Daily High: 143.00

Daily Low: 142.35

Trend: Intraday bullish


R1: 142.73 (resistance as per the hourl


Saudi Arabia OilMin reassures Canada on oil supplies amid dispute – Reuters

Saudi Arabian Energy Minister Khalid al-Falih reassured in a statement on Thursday, the Kingdom’s oil supplies to Canada will not be impacted by the o


Difficult to reach a finalized NAFTA agreement – Goldman Sachs

Following are the excerpts on the North American Free Trade Agreement (NAFTA) from Goldman Sachs’ latest clients note on the US-China trade war.



US dollar rally to run out steam within the next six months – Reuters poll

The broad-based USD rally will run out of steam within the next months, according to a Reuters poll of foreign exchange strategists.

The latest poll


AUD/JPY finds the brakes just above 82.00

The AUD/JPY is trading into 82.20 as broader market sentiment goes risk-off for Thursday, but a positive spin in the China CPI and PPI readings are gi


Above-forecast China inflation readings fail to lift AUD/USD

The  Aussie market remains offered despite a better-than-expected China inflation numbers.

At press time, the AUD/USD pair is trading at 0.7417, havi


RBNZ Governor Orr: It makes sense for the RBNZ to watch and wait for now

Reuters reports fresh comments from the Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr delivered last minutes, as he appeared before New Zeala


China’s CPI rebounds to 0.3% m/m in July, beats estimates

According to the latest data published by China’s the National Bureau of Statistics (NBS), the Chinese Consumer Price Index (MoM) (July) came in at +0


China Consumer Price Index (MoM) came in at 0.3%, above expectations (0.2%) in July

China Consumer Price Index (MoM) came in at 0.3%, above expectations (0.2%) in July


NZD/USD Technical Analysis: Dovish RBNZ sends the pair down the tubes

NZD/USD Chart, 15-Minute

Spot rate: 

Relative change: 




China Producer Price Index (YoY) above forecasts (4.4%) in July: Actual (4.6%)

China Producer Price Index (YoY) above forecasts (4.4%) in July: Actual (4.6%)


China Consumer Price Index (YoY) came in at 2.1%, above forecasts (1.9%) in July

China Consumer Price Index (YoY) came in at 2.1%, above forecasts (1.9%) in July


PBOC set the Yuan reference rate at 6.8317

The People’s Bank of China (PBOC) set the Yuan reference rate at 6.8317 vs the previous day’s fix of 6.8313.


The CEO of Roku explains the master plan that led it to blow away Wall Street expectations

BI PRIME: Roku CEO Anthony Wood says the company always planned to be more than a device maker.


A couple reasons why Elon Musk could actually pull off his wild plan to take Tesla private

Elon Musk’s plan to take Tesla private has generated a lot of buzz, and it has been met with a lot of skepticism. But there are several reasons why he might actually be able to pull off the deal.


On recording, Nunes says GOP needs to keep House to protect Trump: report

California Rep. Devin Nunes told a gathering of Republican donors last week that the GOP needed to keep control of the House to protect President Dona


Comcast security flaws exposed more than 26 million customers’ data: report

Partial home addresses and Social Security numbers of more than 26 million Comcast Corp. CMCSA, -0.99% Xfinity customers were inadvertently exposed on


Would the Trump Administration Resort to Selling the Dollar?

Talking Points: • Historically, the US has held a ‘strong dollar’ policy, but the Trump administration has shown willingness to break convention • Trade wars…



Image courtesy: www.profitf.com

Have a nice trading!

Related posts