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Frankfurt Trading Session Heads Up Thursday, September 12, 2019

Frankfurt opening news digest

Mr. Trump, It’s Not Fed Officials Who Are The ‘Boneheads’

Not only are Federal Reserve officials not ‘boneheads’, Trump’s insults are dangerous to the economic well-being of Americans and to financial stability. Trump needs to disclose any financial gain conflicts that might explain his obsession with low interest rates. Accountability is imperative.


Euro Scenarios for ECB Decision, Implications for Dollar and Trump

Today’s ECB rate decision is top event risk with uneven market moving scenarios and heavy implications for the Franc, Dollar, risk and more


Japanese Yen In Broad Retreat, US-China Trade Hopes Sap Haven Demand

The Japanese Yen finds itself unloved as markets look with hope to trade talks and central bank meetings. They have been disappointed here before of course.


EURUSD Rate Rebound Unravels as Attention Turns to ECB Meeting

EURUSD gives back the rebound from earlier this month, with the Euro at risk of exhibiting a more bearish behavior as the ECB is expected to deliver a rate cut.


NZD/USD Technical Analysis: Down Trend Ready to Resume?

A sharp New Zealand Dollar recovery may have run out of steam, setting the stage to resume the broader downtrend. Traders might proceed with caution however.


Turkey: CBRT prepping up for aggressive easing – TD Securities

Analysts at TD Securities are expecting the CBRT to cut the 1w repo rate (and so the WACF) by 400bps today and is more than the consensus expectation


US Dollar Index clings to gains around 98.60, looks to ECB, CPI

The Greenback, in terms of the US Dollar Index (DXY), is looking to consolidate Wednesday’s gains around the 98.60/65 band ahead of the opening bell i


USD/CHF technical analysis: 200-DMA, 50% Fibo. restrict immediate upside

USD/CHF again attempts to conquer 200-day simple moving average (DMA) as it takes the bids to 0.9940 ahead of Thursday’s European session open.


Japan Tertiary Industry Index (MoM) up to 0.1% in July from previous -0.1%

Japan Tertiary Industry Index (MoM) up to 0.1% in July from previous -0.1%


EUR/USD faces fierce resistance and has room to fall ahead of the ECB – Confluence Detector

EUR/USD is trading around 1.10 as tension mounts ahead of the all-important decision of the European Central Bank. Will Draghi drag the euro down or d


NZ: Economy likely expanded by 0.4% in Q2 – ANZ

Analysts at ANZ are expecting that the New Zealand economy likely expanded 0.4% q/q in Q2, with growth driven by a rebound in services. Key Quotes “Th


EUR/USD: Sidelined above 1.11, the bar has been set too high for ECB

EUR/USD is trading in a sideways manner above 1.11 ahead of the all-important European Central Bank rate decision, scheduled at 11:45 GMT. The central


GBP/USD pays little heed to UK politics ahead of US CPI

GBP/USD shows little reaction to the UK’s political headlines during the Parliament close while waiting for the day’s key event.


BOJ’s Kuroda: Today’s meeting was a routine meeting to discuss economy, markets

Following the meeting with the Japanese PM Abe, the Bank of Japan (BOJ) Governor Kuroda is on the wires now, noting the following: Did not discuss wit


China considering US far imports ahead of talks as sign of goodwill

China is considering US far imports ahead of talks as sign of goodwill More to come…


ECB quarterly forecasts are for growth barely above 1.0% – Reuters

The European Central Bank on Thursday will likely stress the need for aggressive stimulus by forecasting weaker growth a slower return to price stabil


US: Core CPI to rise to 2.3% y/y in August – Scotiabank

The Scotiabank analysts offer a sneak peek into what to expect from Thursday’s US August Consumer Price Index (CPI) report, slated for release at 1230


NZD/USD technical analysis: Buyers will look for entry beyond 0.6445

With the majority of Antipodeans on their run-up, NZD/USD isn’t bucking the trend as it takes another U-turn from 21-day EMA.


USD/JPY technical analysis: Probing 4.5-month falling trendline

USD/JPY is bid for the fourth straight day and is currently chipping away at the resistance of the trendline connecting April 24 and Aug. 1 highs. As


BOJ’s Kuroda met with Japan PM Abe Thursday morning – Nikkei

BOJ’s Kuroda met with Japan PM Abe Thursday morning – Nikkei More to come…


Brexit casts shadow over UK housing market outlook – RICS

The Royal Institution of Chartered Surveyors (RICS), a closely watched industry survey, showed on Thursday, looming Brexit uncertainty is likely to we


Asian stocks rise to six-week highs on easing US-China trade tensions

Asian stocks are better bid with MSCI’s broadest index of Asia-Pacific shares trading at six-week highs, courtesy of the easing US-China trade tension


Sources: US Pres. Trump considering $15 billion bailout for Iran – US Press

Sources: US Pres. Trump considering $15 billion bailout for Iran – US Press More to come.


Mexico’s Obrador sees diminished threat of US tariffs after effort to curb migration – Reuters

Speaking about the US-Mexico trade issue on Wednesday, the Mexican Andres Manuel López Obrador said that the US threat of tariffs on Mexican goods had


Singapore Unemployment rate remains unchanged at 2.2% in 2Q

Singapore Unemployment rate remains unchanged at 2.2% in 2Q


AUD/USD: Rejected again at 50% Fib resistance

AUD/USD is currently trading at 0.6870, having faced rejection at 0.6880, which is the 50 percent Fibonacci retracement of the drop from 0.7082 to 0.6


EUR/USD: Downside looks compelling on dovish ECB call – TD Securities

Analysts at TD Securities offer their outlook on the EUR/USD pair, in the face of upcoming European Central Bank (ECB) monetary policy decision due la


Gold technical analysis: Bottoming below 1500s, bears look for a break of 1480

Gold remains heavy despite the bottoming signals below the 1,500s. The August support line has been broken but bears are not committing to short posit


White House Adviser Navarro: Want to see what happens when China’s negotiators come to US

The US Director of Trade and Manufacturing Policy Peter Navarro crossed the wires in early trades, via Reuters, expressing his thoughts on the upcomin


AUD/JPY stays on the front foot with US-China announcements favoring risk-on

With a slew of trade positive headlines from the US and China, AUD/JPY surges to fresh six weeks high.


A goodwill gesture from US side creating good vibes for Oct trade talks – Global Times

Responding to the US President Trump’s tariffs delay announcement, the Editor-in-chief of Chinese and English editions of the Global Times, Hu Xijin’s


EUR/USD technical analysis: Remains stuck at key resistance despite trade optimism

EUR/USD has bounced back above 1.10, but the bias remains bearish, as the range breakdown confirmed on Wednesday is still valid. The US President Trum


WTI technical analysis: Buyers lurk around 200-bar SMA

With its yet another bounce off 200-bar simple moving average (SMA), WTI flashes near $56.30 mark during Thursday’s Asian session.



USD/JPY has preserved the day’s gains in Tokyo which took the pair to another six-week high above the 108 handle to 108.05. Overnight, stocks advanced


PBOC sets Yuan reference rate at 7.0846

The People’s Bank of China (PBOC) has set the Yuan reference rate at 7.0846 vs Wednesday’s fix at 7.0843.


Teeth-straightening startup SmileDirectClub is set to starting trading Thursday after raising $1.3 billion in its IPO

SmileDirectClub’s offering is part of a wave of digital health companies entering the public markets after a three-year drought.


Yahoo Japan looks to buy Japan’s Zozo for $3.7 billion: reports

Yahoo Japan Corp. intends to buy a majority stake in Japanese online fashion retailer Zozo Inc. for about $3.7 billion, according to multiple reports…


Trump to delay tariff hikes on $250 billion in Chinese goods until Oct. 15

President Donald Trump announced late Wednesday that he will delay implementing higher tariffs on $250 billion of Chinese goods for two weeks. In a series of…


SmileDirectClub prices IPO at $23 a share for valuation of $10 billion

SmileDirectClub Inc. announced Wednesday afternoon that it will sell shares in its initial public offering for $23 apiece, higher than it previously…


Euro Scenarios for ECB Decision, Implications for Dollar and Trump (Trading Video)

ECB Talking Points: • Chinese and US officials attempted to spur enthusiasm around pained trade wars with China announcing waivers and the US a late-day dela…


Cheer Up


Q: Why is Bed Bath and Beyond hurting during this economic downturn?
A: Because gay guys are starting to buy unscented candles!


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Have a nice trading!

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