Heads-up News 

Frankfurt Trading Session Heads Up Tuesday, December 3, 2019

Frankfurt opening news digest

Aluminum Surplus Worsens, Signalling A Price Fall And Plant Closures In The New Year

Invisible aluminum sounds like something from science fiction but in private stockpiles around the world there is a lot of metal which isn’t being officially counted, though that will change in February when the could crash.

 

Wall Street Is Ignoring This ‘Forgotten Victim’ Of Trump’s Trade War

“To this point, it looks like the U.S. consumer has been largely spared, although the proposed next round of tariffs would land much more heavily on consumer products. The same can’t be said of consumers in China.”

 

Australian Dollar Gains As RBA Holds Rates as Expected. GDP Up Next

The Australian Dollar got a lift when the Reserve Bank left the Official Cash Rate on hold at its latest record low.

 

Australian Dollar Could Fall Sharply if RBA QE Becomes ‘Live’

The Australian Dollar has wilted through November partly thanks to its lack of monetary policy support. At least one major domestic bank thinks it has even less than markets reckon.

 

EUR/USD Opening Range in Focus as US Mulls Higher Tariffs for Europe

The monthly opening range is in focus for EUR/USD as the Trump administration looks poised to raise tariffs on European goods.

 

USD/IDR Technical Analysis: 50% Fibonacci questions run-up to 200-DMA

With its failure to extend the previous run-up to late-October tops, USD/IDR witnessing profit booking towards 14,120 during early Tuesday.

 

Australia: Surge in current account surplus – ANZ

ANZ analysts note that Australia’s current account was again in surplus in Q3, improving upon the revised AUD4.7bn (previously AUD5.9bn) surplus in Q2

 

Canada: Employee compensation surges in Q3 – NBF

Stéfane Marion, analyst at National Bank Financial, suggests that Canada’s economy stood its ground in Q3 on the back of rebound in final domestic dem

 

GBP/USD stops further recovery ahead of NATO summit, UK construction PMI

GBP/USD fails to ignore the broad US dollar (USD) recovery while declining to 1.2940 during pre-London open on Tuesday.

 

Australia: Q3 GDP likely to rise by 0.6% – ANZ

Felicity Emmett, senior economist at ANZ, suggests that after the release of key partial indicators this week for the Australian economy, they are exp

 

Saudi raises light crude prices to Asia to six-year high – Reuters

Saudi Arabia raised on Monday its light crude prices that it offers to Asia in January to the highest in six years, per Reuters. Additional Details: “

 




Australia: Back to back current account surplus – Westpac

Andrew Hanlan, analyst at Westpac, points out that Australian economy has registered back-to-back current account surplus and for the first time in 46

 

N. Korean ForeignMin: Up to the US what Christmas gift it will select to get – KCNA

North Korean news agency, Korean Central News Agency (KCNA), carries a warning from the North’s Foreign Ministry, citing that “up to the US what Chris

 

USD/INR seesaws around 21-day EMA amid trade/political fears

The USD/INR pair’s initial declines to 21-day Exponential Moving Average (EMA) fails to last long as the quote recovers to 71.62 amid the initial Tuesday trade.

 

Australia: Retail trade losing its holiday spirit – ANZ

ANZ analysts point out that the Christmas shopping season in Australia is an important time for retail, representing 12% of total non-food turnover fo

 

EUR/USD logs biggest single-day rise since Sept. 17

EUR/USD jumped 0.58% on Monday, printing its biggest single-day rise since Sept. 17. Monday’s sharp rise to a 12-day high of 1.1090 has neutralized th

 

Japan PM Abe: Japan is in the final stages of preparing economic stimulus package

Following the latest reports from the Japanese media about the likely economic stimulus package to be announced soon, the country’s PM Shinzo Abe conf

 

AUD/NZD Technical Analysis: Immediate falling trendline guards post-RBA recovery

AUD/NZD portrays a pullback from the 16-week low while taking the bids to 1.0500 amid the initial trading session on Tuesday.

 

AUD/JPY extends gains after status quo RBA decision

AUD/JPY jumped nearly 30 pips to hit a session high of 74.67 after the Reserve Bank ofAustrlia kept interest rates unchanged at 0.75%, as expected. Th

 

AUD/USD surges to two-week high despite RBA’s ‘no rate change’ decision

AUD/USD rises to the day’s high near 0.6830 during early Tuesday. The Aussie pair extends the previous run-up as RBA refrains from clear bearish bias.

 

RBA: Rates to remain low for extended period

Following are the key headlines from the December RBA monetary policy statement (via Reuters): Outlook for global economy is reasonable but risks tilt

 

AUD/USD little changed after RBA leaves rate unchanged at 0.75%

The Reserve Bank of Australia (RBA), at its December monetary policy meeting held this Tuesday, maintained its official cash rate (OCR) at a record lo

 

Australia RBA Interest Rate Decision meets expectations (0.75%)

Australia RBA Interest Rate Decision meets expectations (0.75%)

 




Brent Technical Analysis: Rising trendline breached, but bearish follow-through elusive

Brent oil is currently trading at $61.08 per barrel, representing a 0.25% gain on the day. The black gold on Friday dived out of an ascending trendlin

 

USD/JPY Technical Analysis: 100-bar SMA keeps buyers hopeful

USD/JPY takes the bids to an intra-day high of 109.15 by the press time of early Tuesday. The quote recently bounced off 100-bar SMA.

 

USD/INR Technical Analysis: Wednesday’s close pivotal

USD/INR created an inside day candlestick pattern on Monday, signaling indecision in the market place. The candlestick pattern has weakened the immedi

 

Asian stocks drop on trade concerns, potential double top on Nikkei

Asian stocks are reporting losses, tracking the overnight losses on Wall Street triggered by fresh tariffs announced by President Donald Trump. At pre

 

Depreciation pressure on Chinese yuan vs. USD has eased – China Press

The China Securities Journal carried an opinion piece on Wednesday, citing Wang Lijuan, a deputy researcher at the China Banking Association, as he ex

 

China may ban all US diplomatic passport-holders from Xinjiang – Global Times

Global Times Editor-in-Chief Hu Xijin said on Tuesday, China is considering banning US diplomatic passport-holders from entering the country’s western

 

S&P: BOK to cut rates once or twice in 2020 – Reuters

Bank of Korea will likely cut interest rates once or twice in 2020, the S&P rating agency’s economists said on Tuesday, according to Reuters. The cent

 

USD/CNH Technical Analysis: Steps back from 7.0456/55 resistance confluence

Failure to rise past 50-day Exponential Moving Average (EMA) and 38.2% Fibonacci retracement of September-November fall drag the USD/CNH pair to 7.042.

 

NZD/USD technical analysis: Logs biggest daily gain in 13 months, breakout confirmed

NZD/USD jumped 1.32% on Monday to print the biggest single-day gain since Nov. 1, 2018. On that day, the pair had rallied by 2%. Monday’s solid rise h

 

WTI corrects from channel lows and target a break to the 21-DMA

The price of a barrel of oil has been inching higher in recent trade, advancing 0.23% on the session from a low of $55.91bbls to a high of $56.18bbls

 

When is the RBA Rate Decision and how could it affect AUD/USD?

The Reserve Bank of Australia (RBA) is all set to announce the latest monetary policy decision at 3:30 am GMT on Tuesday.

 

BOJ’s Kuroda: Important to strike the right balance between growth and fiscal discipline

The Bank of Japan (BOJ) Governor Kuroda is on the wires now, via Reuters, making a speech in the Japanese parliament. Key Headlines: Important to stri

 




Amazon has removed a ban on the words ‘multi cloud’ and ‘hybrid cloud’ at its AWS conference, and it’s a telling change to its famous list of forbidden words

Partners say that before, they had to remove mentions of Microsoft Azure or any terms that suggest there are other clouds besides Amazon Web Services.

 

Trump administration proposes slapping new tariffs on $2.4 billion worth of French goods to retaliate against big tech tax | Markets Insider

The US proposed retaliatory tariffs against France on Monday for its new digital services tax. Critics said the tax has disproportionately …

 

RBA Coverage: AUD/USD, AUD/JPY, AUD/CAD, AUD/NZD Outlook with Daniel Dubrovsky

DailyFX Analyst Daniel Dubrovsky covered December’s RBA rate hold and talked about the fundamental and technical outlook for the Australian Dollar. He discus…

 

S&P 500 Drops on Trade Wars, Dollar Drops on Growth Trouble, Gold Surprisingly Unmoved

Volatility Talking Points: • Volatility returned after the holiday period with a marked downdraft in risk trends Monday that saw the S&P 500 break a consiste…

 

Top Asia Pacific Market Drivers Traders Should Watch This Week (December 2)

In this webinar, DailyFX analyst David Cottle looks at the key factors which will drive Asia Pacific markets this week. It’s a packed program, especially for…

 

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