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Frankfurt Trading Session Heads Up Wednesday, June 12, 2019

Frankfurt opening news digest

Trade War Dynamics: Predicting The Unpredictable

Forward-looking highlights from GeoQuant’s high-frequency political risk intelligence platform.


ASEAN FX Chart Analysis: USDPHP Bottoms? USDSGD Downtrend Struggles

Can US Dollar gains against the Philippine Peso last after USDPHP appeared to bottom? A new uptrend seems to be guiding USDMYR higher as USDSGD consolidates between key levels.


AUD Bulls Can’t Count on the RBA, But Iron Ore Prices May Slow Its Fall

The Australian Dollar will struggle with low interest rates for a long time to come, but rising iron ore prices will counter at least some of their effects.


Dow Posts First Drop in 7 Trading Days, Trump Stirs Trade War Fears

The enthusiasm for the US-Mexico deal to avert tariffs has diminished as Trump’s account at odds with counterparts


Australian Dollar Slips As China May CPI Rate Hits 15-Month High

The Australian Dollar faced tough data both foreign and domestic as China’s inflation rose as expected and local consumer confidence wilted.


Brazilian Real, Ibovespa Index Forecast: Major Breakout Ahead?

USDBRL and the benchmark Ibovespa equity index are teetering on the edge of major price levels. If breached with follow-through, a selloff or rally may ensue.


Strong China Consumer Price Index (CPI) to Fuel AUDUSD Rate Rebound

Updates to China’s Consumer Price Index (CPI) may fuel a larger rebound in AUDUSD as the headline reading is expected to pick up for the third consecutive month.


NZDUSD Drop Extends on Dollar Gains as GBPUSD Recovers on UK Wages

NZDUSD declines entered a second day against the backdrop of a slightly stronger US Dollar on fading Fed rate cut bets. GBPUSD rose however on UK wage data as AUDUSD eyes China CPI.


Australia: Second consecutive fall in consumer confidence – ANZ

ANZ-Roy Morgan Consumer Confidence of Australian economy fell for a second week in a row, dropping by 2.0% last week, notes the research team at ANZ.


NZ: Retail spending fell by 0.5% in May – Westpac

Satish Ranchhod, senior economist at Westpac, points out that New Zealand’s retail spending was much weaker than expected in May, falling by 0.5% (vs.


China: Core inflation lacks upward momentum – ANZ

Analysts at ANZ note that higher food prices boosted both CPI and PPI in May for Chinese economy, implying the current jump in inflation is a seasonal


NZD/USD technical analysis: 4H 100MA, 61.8% Fibo. can trigger pullback

While sustained trading beneath 0.6610 portrays the NZD/USD pair’s weakness, 100-bar moving average and 61.8% Fibonacci retracement can limit further declines.


GBP/USD remains modestly changed as traders await US CPI amid UK’s political play

While British lawmakers’ run to become the next PM remains surrounded by long-standing Brexit worries, traders weigh lack of UK data on early Wednesday.


EUR/USD: Focus on Draghi’s speech and US CPI

EUR/USD is consolidating above 1.13 ahead of Draghi’s speech and key US data releases. The shared currency confirmed a technical breakout with a rise


US official: US and China should find ways to ensure more effective cooperation

Brian Rademacher, Economic Development Director of Ormond Beach, told Xinhua in a recent interview at the east coastal city of Florida, The US and Chi


Fitch affirms Hong Kong at ‘AA+’, outlook ‘Stable’

Reuters is out with the latest statement from the US-based Fitch Ratings, affirming Hong Kong’s credit rating at ‘AA+’; with Outlook Stable. Key Point


One-month HKD HIBOR rises to 2.42%, highest since October 2008

One-week Hong Kong dollar (HKD) Hong Kong Interbank Offered Rate (HIBOR) rises 87 bps to 2.17%, highest since April 30. Additional Headlines: One-mont


USD/INR: Rupee volatility hits lowest since August 2018

The Indian Rupee’s (INR) one-month ATM volatility fell to 5.125 on Tuesday, the lowest level since Aug. 9, 2018. Notably, the volatility gauge has dro


Indonesian consumer confidence improves slightly in May, Rupiah unfazed

The latest survey conducted by Bank Indonesia (BI), the Indonesian central bank, showed that the country’s Consumer Confidence gauge ticked slightly h


Gold: Buyers dominate around $1333 amid Hong Kong Protests, China data

With protests in Hong Kong turning serious and China’s inflation data meeting expectations, gold prices surge to the intra-day high around $1333.


South Korea Money Supply Growth increased to 6.9% in April from previous 6.5%

South Korea Money Supply Growth increased to 6.9% in April from previous 6.5%


Asian stocks trade mixed as China reports inflation at 15-month high

The stock markets in Asia are lacking a clear directional bias this Wednesday morning with China reporting the consumer price inflation at 15-month hi


Trade Export: US-UK trade deal unlikely to happen in foreseeable future – Xinhua

In a recent interview with Xinhua, Peter Holmes, trade expert and fellow of the UKTPO at the University of Sussex, opined that the UK and US are unlik


Australia: Weak employment data to underscore risks of a July RBA rate cut – NAB

Analysts at National Australia Bank (NAB) offer their expectations on Thursday’s Australian labor market report and its implications for the Reserve B


Goldman Sachs foresee a “choppy dollar downside in the months ahead”

The Goldman Sachs analysts, in their latest client note, have drawn parallels with the macro environment facing the US dollar today and in the 1980s.


USD/JPY technical analysis: Risks skewed to the downside

USD/JPY risks falling back toward 108.00 today, having charted back-to-back daily candles with long upper shadows. A candle with a long upper shadow i


Japan PM Abe: Will exchange opinions with Iran’s leaders to ease tensions

Japanese PM Shinzo Abe was on the wires last minutes, via Reuters, noting that he will exchange opinions with Iran’s leaders to ease tensions. Abe dep


BOK’s Lee hints at rate cut amid heightened external uncertainties

Bank of Korea Governor Lee Ju-yeol on Wednesday hinted at an easing policy amid rising external uncertainties and very low domestic inflation. Key quo


AUD/NZD technical analysis: Sellers wait for 5-week old resistance-line, overbought RSI to sneak in

The AUD/NZD pair’s recovery from 1.0495 might find it hard to remain for long as the quote is on the bids near 1.0580 during the early Wednesday.


EUR/USD technical analysis: Bulls line-up for a run higher above 2018-2019 downtrend


AUD/USD remains on the defensive China inflation data

AUD/USD continues to trade in the red near 0.6955 following the mixed Chinese inflation figures. The consumer price index (CPI) rose at annualized rat


AUD/JPY drops to intra-day low on mixed China inflation data

Although Chinese CPI managed to post upbeat numbers, AUD/JPY traders emphasize more on the sluggish PPI on early Wednesday.


Chinese CPI/PPI arrives in line with expectations

The inflation will likely have less attention paid to it by markets following the news China would allow local governments to use proceeds from specia


China Consumer Price Index (MoM) in line with expectations (0%) in May

China Consumer Price Index (MoM) in line with expectations (0%) in May


China Producer Price Index (YoY) meets forecasts (0.6%) in May

China Producer Price Index (YoY) meets forecasts (0.6%) in May


China Consumer Price Index (YoY) meets forecasts (2.7%) in May

China Consumer Price Index (YoY) meets forecasts (2.7%) in May


USD/CAD technical analysis: Multiple upside barriers to question latest pullback

In spite of its U-turn from 1.3242, the USD/CAD pair has multiple upside barriers to cross in order to justify its latest strength.


PBOC sets Yuan reference rate at 6.8932

The People’s Bank of China (PBOC) has set the Yuan reference rate at 6.8932 vs Tuesday’s fix of 6.8930.


A top DOJ official just outlined why the agency has everything it needs to go after Big Tech — and Facebook, Google, and Amazon should be nervous

Makan Delrahim said the current antitrust laws are more than enough to protect competition in the tech industry.


Amazon, Apple and Google dominate some surprising markets, researcher finds, giving the government a lot of fodder for investigations

The tech giants have massive influence over online shopping, advertising, search, cloud computing and chips, according to Gartner market research.


Elon Musk suggests Tesla needs acquisition to complete insurance push

Tesla Inc. Chief Executive Elon Musk said Tuesday that the car maker “has a small acquisition we need to complete” before launching an insurance…


Dow Posts First Drop in 7 Trading Days, Trump Stirs Trade War Fears (Trading Video)

Trade War Talking Points: • The enthusiasm for the US-Mexico deal to avert tariffs has diminished as Trump’s account at odds with counterparts • As the US Pr…


Cheer Up


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