Heads-up News 

Frankfurt Trading Session Heads Up Thursday, November 14, 2019

Frankfurt opening news digest

USD/CAD Rate Tracks October Range Amid Failure to Test 2019 Low

USD/CAD may continue to retrace the decline from the previous month amid the failed attempt to test the 2019 low (1.3016).


AUD/USD, USD/CAD, EUR/USD Price Trend Outlook in Positioning

The AUD/USD and EUR/USD downtrend may prolong as traders counterintuitively buy into their descent. Meanwhile, the USD/CAD uptrend may accelerate on rising net-short bets.


US Dollar, Stocks Eye Powell Testimony as Trade Talks Stumble

The US Dollar along with European and US equity markets will be closely watching Fed Chairman Jerome Powell’s second Congressional testimony as US-China trade talks flounder.


Gold Prices React to Former Resistance Zone and Snap Bearish Series

Recent price action in gold raises the scope for a larger rebound as the precious metal snaps the series of lower highs and lows carried over from the previous week.


AUD/USD Hit by China Data Miss, Downtend May Deepen

The Australian Dollar was already reeling from weak labor market figures when disappointing Chinese industrial production knocked it again.


Australian Dollar Sinks, AUD/USD Downtrend in Focus on Jobs Miss

The AUD/USD sank after Australian unemployment unexpectedly rose, prolonging the Australian Dollar downtrend amid uncertainty about a US-China trade deal. Ahead, the Yen may rise.


NZ: Monthly Inflation Gauge up 0.2% in October – ANZ

Analysts at ANZ note that New Zealand’s ANZ Monthly Inflation Gauge was up 0.2% m/m in October, supported by accommodation services, domestic airfares


USD/CAD Technical Analysis: 200-day SMA, 1.3290/95 question further upside

Despite trading near the highest in nearly five weeks, USD/CAD is likely to find multiple resistances on the upside as it takes rounds to 1.3260.


Australia: Weak labour market report – ING

Robert Carnell, chief economist at ING, notes that Australia’s headline employment figure showed a much larger than expected 19 thousand decline in Oc


China: Broad weakness will still not trigger aggressive stimulus – ANZ

Betty Wang, analyst at ANZ, points out that China’s manufacturing sector remained sluggish in October with no immediate respite likely, despite previo


GBP/USD lingers over trade/political news, UK Retail Sales in focus

Optimism surrounding the UK’s political plays confronts the broad US dollar (USD) strength ahead of the British Retail Sales data for October.


When is the German Preliminary Q3 GDP and how could it affect EUR/USD?

German gross domestic product (GDP) due at 07:00 GMT is expected to show the economy contracted 0.1% quarter-on-quarter in June to September (Q3) peri


Australia: Employment falls for the first time in more than three years – ANZ

Felicity Emmett, senior economist at ANZ, suggests that Australia’s 19k drop in employment in October was the first drop since September 2016 and even


Japan Tertiary Industry Index (MoM) above forecasts (-0.6%) in September: Actual (1.8%)

Japan Tertiary Industry Index (MoM) above forecasts (-0.6%) in September: Actual (1.8%)


China: Weak October data – NAB

Gerard Burg, senior economist at National Australia Bank (NAB) points out that most of China’s indicators were relatively weak in October as in additi


USD/JPY Technical Analysis: 6-week-old rising trendline, 108.30 on seller’s radar

Escalating protests in Hong Kong and uncertainty surrounding the US-China trade deal exert downside pressure on the USD/JPY pair as it drops to multi-day low.


USD/INR: Buyers flirt with multi-week top ahead of India WPI

Following initial uptick to the highest since September 04, USD/INR pulls back to 72.22, during Thursday’s pre-European session, as traders await Indian WPI.


Hong Kong govt. cites school suspension to continue on Friday to Sunday

Following no respite from the protests started since Monday, Hong Kong Government (Govt.) recently announced the suspension of schools will stretch.


NZD/USD Technical Analysis: Downbeat China data shifts focus to 50-day EMA support

Given the disappointment from China’s data-dump, NZD/USD extends pullback from near-term key resistance confluence as it trades around 0.6390.


UK Brexit Party leader Farage: Will stand down no more candidates beyond the 317 Conservative seats

According to the UK’s Brexit Party leader Nigel Farage, he would take on Labour and remainer parties in the election, as cited by Reuters. Key Quotes:


China’s NBS: Economy faces many external uncertainties, downward pressure continues

Following the releases of downbeat Chinese activity data, the spokesman for the country’s stats bureau, National Bureau of Statistics (NBS) highlighte


AUD/USD extends south run as China data adds to Aussie disappointment

China’s key statistics add to the AUD/USD pair traders’ disappointment during early Thursday.


China’s Oct data dump: Downbeat across all indicators – Aussie renews four-week lows

China’s October Retail Sales YoY, the number arrived at +7.2% vs. +7.9% exp and +7.8% last, with Industrial Output YoY at +4.7% and +5.4% exp and +5.8


China Fixed Asset Investment (YTD) (YoY) registered at 5.2%, below expectations (5.4%) in October

China Fixed Asset Investment (YTD) (YoY) registered at 5.2%, below expectations (5.4%) in October


China Retail Sales (YoY) registered at 7.2%, below expectations (7.9%) in October

China Retail Sales (YoY) registered at 7.2%, below expectations (7.9%) in October


China Industrial Production (YoY) registered at 4.7%, below expectations (5.4%) in October

China Industrial Production (YoY) registered at 4.7%, below expectations (5.4%) in October


RBA’s Bullock: Investors chasing yield, pushing up asset prices

Michele Bullock, RBA Assistant Governor (Financial System), was on the wires earlier today, with the key comments reported by Bloomberg are hereunder.


Hong Kong’s civil unrest and chaos enters a fourth day

The Hong Kong civil unrest and violence take an ugly turn for the fourth straight day on Thursday, after the police reported that a man dressed in bla


EUR/USD Technical Analysis: Seesaws around 61.8% Fibo. amid bullish MACD

Despite staying below 200-bar Simple Moving Average (SMA), EUR/USD bounces off 61.8% Fibonacci retracement of its October month upside.


GBP/JPY Technical Analysis: Choppy between 21-day EMA, monthly trendline

While carrying forward its near-term trading range between 21-day EMA and a four-week-old falling trend line, the GBP/JPY pair trades around 139.77.


PBOC sets Yuan reference rate at 7.0083 vs. Wednesday’s 7.0026

On Thursday, China’s central bank, the People’s Bank of China (PBOC), set the Yuan reference rate at 7.0083 versus Wednesday’s fix at 7.0026.


Fed’s Harker: FOMC should hold steady


AUD/JPY flashes fresh 3-week low after AU employment, Japanese GDP

While the US-China trade stalemate was already exerting downside pressure on the AUD/JPY pair, a surprise negative AU data dragged the quote even lower.


Japan’s Nishimura: GDP data shows economy in gradual recovery

Reuters reports the latest comments from the Japanese Economy Minister Yasutoshi Nishimura, as he expresses his afterthoughts on the below forecasts J


RBNZ’s Bascand: We can move rates at Feb decision, if needed

Reserve Bank of New Zealand (RBNZ) Deputy Governor Bascand was on the wires some minutes ago, via Reuters, throwing some fresh insights into Wednesday


Australia Part-Time Employment up to -8.7K in October from previous -11.4K

Australia Part-Time Employment up to -8.7K in October from previous -11.4K


Disney Rallies on Strong Disney+ Results Crossing Wall Street

It’s only been one day but Disney+ looks like it’s a big hit. So far, 10 million people have ordered the streaming service. Bear in mind that it’s onl


High-tech fitness company Peloton will reportedly release a cheaper treadmill and a rowing machine in 2020

Peloton shares surged 9% on Wednesday, as investors reacted to reports that it plans to release new fitness equipment in 2020


Facebook has fixed the bug that secretly accessed iOS users’ phone cameras

Facebook has released a patch for a bug discovered by users earlier this month that accessed users’ iOS cameras without their knowledge.


A top Facebook VR exec is taking a stepping down as Oculus CTO to become a ‘Victorian Gentleman Scientist’ working on AI

Oculus CTO John Carmack wants to get stuck into the most difficult problem in artificial intelligence research.


Andrew Yang preached his tech-friendly gospel at Sam Altman’s San Francisco house: You can’t treat tech like oil companies and breaking up Amazon won’t bring malls back

Presidential candidate Andrew Yang had a fundraiser attended by tech workers in San Francisco at supporter and tech investor Sam Altman’s house.


AUD/USD, EUR/USD, USD/CAD Analysis – IG Client Sentiment With Daniel Dubrovsky

This week, DailyFX Analyst Daniel Dubrovsky discussed the outlook for AUD/USD, USD/CAD and EUR/USD incorporating trader positioning on top of fundamental and…


Dow and Emerging Market Divergence a Warning, Trade Wars Outshine Powell Testimony

Dow Talking Points: • The Dow edged up to a fresh record high close without momentum, but emerging markets and other risk assets are signaling clear divergen…



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Have a nice trading!

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