Frankfurt opening news digest
|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 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.|
|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|
|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|
|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|
|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|
|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|
|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|
|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.|
|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|
|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|
|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%|
|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|
Spot Rate: 110.81
Daily High: 111.00
Daily Low: 110.71
Trend: Bullish above 110.87 (wedge resistance)
R1: 110.87 (top
|According to analysts at Westpac, the significant increase in short-term wholesale interest rates and associated volatility has been a key topic of de|
|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 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|
|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|
|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|
|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 –
|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%|
|Analysts at Nomura offer a sneak peek into Friday’s Japanese Q2 GDP figures due to be reported at 2350 GMT.
“We expect Q2 (April-June) r
|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
|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|
Spot Rate: 142.60
Daily High: 143.00
Daily Low: 142.35
Trend: Intraday bullish
R1: 142.73 (resistance as per the hourl
|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|
|Following are the excerpts on the North American Free Trade Agreement (NAFTA) from Goldman Sachs’ latest clients note on the US-China trade war.
|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
|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|
|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
|Reuters reports fresh comments from the Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr delivered last minutes, as he appeared before New Zeala|
|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|
|NZD/USD Chart, 15-Minute
|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|
|The People’s Bank of China (PBOC) set the Yuan reference rate at 6.8317 vs the previous day’s fix of 6.8313.|
|BI PRIME: Roku CEO Anthony Wood says the company always planned to be more than a device maker.|
|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.|
|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|
|Partial home addresses and Social Security numbers of more than 26 million Comcast Corp. CMCSA, -0.99% Xfinity customers were inadvertently exposed on|
|Talking Points: • Historically, the US has held a ‘strong dollar’ policy, but the Trump administration has shown willingness to break convention • Trade wars…|
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