Heads-up News 

Frankfurt Trading Session Heads Up Tuesday, January 8, 2019

Frankfurt opening news digest

Gold Price Chart Hints at Top Before FOMC Minutes, Powell Speech

Gold prices failed to sustain another foray to the upside yesterday, with the chart setup now warning that a top may be forming before critical

 

A Dollar Reversal Not Universally Staged and S&P 500’s Difficult Path

There are fewer explicit key events to track but themes like trade wars and the US government shutdown have milestones to watch

 

EUR/USD Technical Analysis: Choppy Range Belies Bearish Bias

The Euro has been mired in a choppy range below 1.15 against the US Dollar for nearly two months but overall positioning still points to

 

Will EUR/CAD Short Be Triggered after Bearish Technical Signals?

A top trading opportunity of mine in 2019 is short EUR/CAD, I am looking to sell amidst technical bearish signs. If a rebound to 1.5276

 

USD/BRL Bearish Reversal Pattern on Edge of Confirmation

USD/BRL looks to be on the verge of completing a bearish Head and Shoulders reversal pattern. Waiting for a daily close below the neckline range

 

AUD/USD Dips on Trade Balance, Eyes Stocks and US-China Talks

AUD/USD declined on dismal trade balance data for November, but prices may rebound on an upbeat market mood and renewed US-China trade talks.

 

Upbeat US China Trade Talk News May Extend Japanese Yen Selloff

Upbeat US China trade talk news boosted the S&P 500 amidst comments from Wilbur Ross. Anti-risk Japanese Yen weakened as AUD/USD prices pushed higher, more

 

Fed pause to help China defend 7.00 level for USD/CNY – Commerzbank

Commerzbank Economist Hao Zhou believes that Fed rate hike pause would help China defend the psychological level of 7.00 in USD/CNY. 

Indeed, the Fed

 

USD/JPY Intermarket Analysis: US-Japan 10-yr yield spread hits 9-month low

USD/JPY’s corrective bounce to 109.00 could be short-lived as the yield differential continues to slide in favor of the Japanese yen.

The spread betw

 

ECB’s Draghi to retire as populists target EU central bank – Bloomberg

As reported by Bloomberg, the European Central Bank’s (ECB) chief, Mario Draghi, is set to retire this year, but growing calls throughout the European

 

Netherlands, The Consumer Price Index n.s.a (YoY) remains unchanged at 2% in December

Netherlands, The Consumer Price Index n.s.a (YoY) remains unchanged at 2% in December

 




Iran’s central bank proposes slashing four zeros from falling currency

Iran’s central bank has proposed slashing four zeros from its battered currency, according to State News Agency IRNA. 

“A bill to remove four zeros f

 

Australia: November trade surplus prints A$1.93b – TDS

Australia’s November trade surplus printed A$1.93b, below market forecasts for a A$2.2b surplus, while the surplus in Oct was revised down from A$2.3b

 

BoC to hold, for now – ING

Analysts at ING expect the BoC to resort to more cautionary stance due to the recent oil price slump, weaker-than-expected business investment in 3Q18

 

AUD/USD Technical Analysis: 61.8 percent Fib has put brakes on the rally

Daily chart

Trend: Bullish above 61.8% Fib

AUD/USD

Overview:

    Today Last Price: 0.7127

    Today Daily change: -17 pips

    Today Daily ch

 

Japan Consumer Confidence Index: 42.7 (December) vs previous 42.9

Japan Consumer Confidence Index: 42.7 (December) vs previous 42.9

 

GBP/USD struggling to hold onto near-term highs above 1.2750 as Brexit bends the Pound

GBP/USD is trading near 1.2760 ahead of Tuesday’s London market session, and the beleaguered Pound is struggling to hold onto gains near the 1.2800 ha

 

Australia: Trade surplus consolidates – Westpac

Andrew Hanlan, analyst at Westpac, explains that Australia’s trade surplus consolidated in November as it printed $1.9bn following a $2.0bn outcome fo

 

USD/JPY: value of bearish bets has dropped sharply in the last three days

The USD/JPY one-month 25 delta risk reversals (JPY1MRR) are currently trading at -1.60 in favor of the put options (bearish bets). Notably, the gauge

 

UK: PM May trying to limit the risks of a Hard Brexit – Rabobank

Analysts at Rabobank note that the UK Telegraph has reported that UK PM May is making parliamentary moves to limit the risks of a Hard Brexit.

Key Qu

 

EUR/USD: 100-day MA is proving a tough nut to crack

The EUR/USD pair is currently trading at 1.1438, having faced rejection above the 100-day MA of 1.1370 in Asia.

Notably, the pair has failed four tim

 

Asia to power global growth – Standard Chartered

Analysts at Standard Chartered point out that while Asian economies’ performance has been robust, other regions have disappointed.

Key Quotes

“Glob

 

USD/INR Technical Analysis: bears trapped on the wrong side of the market

USD/INR’s move above 70.00 has trapped the bears on the wrong side of the market. The pair clocked a high of 70.07 earlier today and is now trading at

 




Indian StatsMin: India forecasts 7%-plus economic growth ahead of elections

Reuters reports the latest statement published by the Indian Ministry of Statistics, citing that the Indian economy will expand more than 7% in the cu

 

NZD/USD Technical Analysis: chipping away at the 200-HMA hurdle

The NZD/USD pair is struggling to clear the 200-hour moving average (HMA) hurdle, having rallied more than 150 pips in the last six days.

Hourly char

 

EUR/USD shying away from consolidation ceiling below 1.1500

EUR/USD is bedding down for Tuesday’s action, dipping into the 1.1450 region once again after peaking near 1.1485 to start the day.

The Fiber’s botto

 

N. Korea leader visits China after warning of alternate path to US talks – Reuters

The North Korean and Chinese state media confirmed early Tuesday, the North Korean leader Kim Jong Un is visiting China at the invitation of Chinese P

 

USD/JPY retreats from session highs, focus is on the 10-year treasury yield

The USD/JPY pair is currently trading at 108.56, having clocked a high of 108.77 earlier today.

Notably, the pair has pulled back from the session hi

 

Oil markets testing higher on trade hopes, production limitations

Oil prices continue to seek higher ground with WTI barrels exploring above the 49.50 barrier on Monday, and a soft decline heading into Tuesday is see

 

Japan’s Aso: No change to sales tax hike plan unless there is a Lehman’s type event

Japanese Finance Minister Taro Aso is on the wires now, via Reuters, commenting on the economy and the expected sales tax hike.

Key Points:

Expect J

 

Gold: $1,300 break remains elusive despite the weak tone in the US dollar

Gold bulls may have run out of steam, having engineered a $100 rally in the last seven weeks.

The yellow metal failed to cross the psychological hurd

 

WH Eco. Adviser Hassett: will be `some’ economic impact from shutdown – Fox

White House Council of Economic Advisers Chairman Kevin Hassett was on the wires earlier today, via Fox Business News, noting that there will be some

 

NZD/USD slipping the 0.6750 level early as downside pressure builds early

NZD/USD is testing lower in early Tuesday action, challenging the sub-0.6750 zone as the pair looks set to extend a peaking pattern from Monday’s high

 

AUD/JPY Technical Analysis: pullback to 73.00 could be on the cards

The JPY crosses have come under pressure despite the uptick in the S&P 500 futures.

Notably, the AUD/JPY pair could be in for a 50 pip drop from the

 

PBOC sets yuan reference rate at 6.8402

The People’s Bank of China (PBOC) set the yuan reference rate at 6.8402 vs Monday’s fix of 6.8517.

 




Brexit uncertainty drives at least £800 billion in assets out of London into Europe – EY Financial

According to results from an EY Financial Services ‘Brexit Tracker’ poll of banking institutions, £800 billion ($1.024 trillion) has either already le

 

UK’s May spokesperson: No intention of extending Article 50

A spokesperson for UK Prime Minister Theresa May has delivered a statement on the heels of earlier reports that leaders in the UK are exploring the po

 

Intel’s Mobileye and the British government have found an unexpected way for self-driving data to improve infrastructure

Mobileye and Ordnance Survey will combine geospatial maps of Great Britain with Mobileye’s self-driving data.

 

Hey Apple, what happens on iPhones doesn’t stay there, and your ‘clever’ CES ad is promoting a dangerous illusion

Apple’s has an ad at the giant CES trade show touting its privacy bona fides, but the ad is seriously misleading.

 

Intel announces new chips at CES

Intel Corp. INTC, +0.47% announced a series of new products Monday afternoon at CES, including new chips for artificial intelligence and 5G wireless c

 

A Dollar Reversal Not Universally Staged and S&P 500’s Difficult Path

Trade War Talking Points: • The S&P 500 and US indices nudged higher to start the week, but fundamental attribution seemed a stretch beyond ‘follow through’ …

 

Cheer Up

Adage:

A man commented to his lunch companion: “My wife had a funny dream last night. She dreamed she’d married a millionaire”. “You’re lucky”, sighed the companion. “My wife dreams that in the daytime”.

Cartoon:


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Have a nice trading!




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