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London Trading Session Heads Up Friday, November 8, 2019

London opening news digest

Crude Oil Prices Wilt, Focus to Stay on US-China Trade News

Crude oil prices celebrated the prospect of concerted tariff rollback but doubts about the US position have crept back in. Expect this story to dominate into the weekend.

 

US Dollar Attracts Investors as Global Market Mood Improves

The US Dollar enjoyed support from haven demand through most of 2019. Investors may now be attracted by its yield advantage as global market mood improves.

 

GBP/USD struggles near two-week lows, just above 1.2800 handle

The GBP/USD pair nursed the previous session’s post-BoE losses to two-week lows, with bears still awaiting a sustained break below the 1.2800 round fi

 

France Nonfarm Payrolls (QoQ) came in at 0.3%, above expectations (0.2%) in 3Q

France Nonfarm Payrolls (QoQ) came in at 0.3%, above expectations (0.2%) in 3Q

 

France Industrial Output (MoM) in line with expectations (0.3%) in September

France Industrial Output (MoM) in line with expectations (0.3%) in September

 

France Current Account registered at €-2.7B, below expectations (€-0.609B) in September

France Current Account registered at €-2.7B, below expectations (€-0.609B) in September

 

France Imports, EUR declined to €47.28B in September from previous €47.84B

France Imports, EUR declined to €47.28B in September from previous €47.84B

 

France Exports, EUR fell from previous €42.82B to €41.73B in September

France Exports, EUR fell from previous €42.82B to €41.73B in September

 

France Trade Balance EUR registered at €-5.55B, below expectations (€-4.8B) in September

France Trade Balance EUR registered at €-5.55B, below expectations (€-4.8B) in September

 

JPY Futures: scope for further losses

CME Group’s flash data for JPY futures markets noted investors added around 5.1K contracts to their open interest positions on Thursday, recording the

 

Gold ticks higher to $1470, recovers farther from 1-month lows

Gold edged higher on the last trading day of the week and built on the overnight late bounce from over one-month lows. Traditional safe-haven assets –

 




US Consumer Sentiment market movers today – Danske Bank

Analysts at Danske Bank point out that in the US focus today is on the US Michigan consumer sentiment indicator, which will give us more details about

 

Germany Current Account n.s.a. above expectations (€20.4B) in September: Actual (€25.5B)

Germany Current Account n.s.a. above expectations (€20.4B) in September: Actual (€25.5B)

 

Germany Imports (MoM) above forecasts (0%) in September: Actual (1.3%)

Germany Imports (MoM) above forecasts (0%) in September: Actual (1.3%)

 

Germany Exports (MoM) above expectations (0.4%) in September: Actual (1.5%)

Germany Exports (MoM) above expectations (0.4%) in September: Actual (1.5%)

 

Germany Trade Balance s.a. above expectations (€18.1B) in September: Actual (€19.2B)

Germany Trade Balance s.a. above expectations (€18.1B) in September: Actual (€19.2B)

 

GBP/USD may drop down to 1.2702 after the BOE’s blow — Confluence Detector

GBP/USD has been on the back foot after the Bank of England painted a gloomy picture of the economy and two members voted for a cut. Where next? The T

 

UK: Growing market optimism over an eventual Brexit deal – Westpac

Westpac analysts note that for the UK, GBP has moved sharply higher as market optimism has grown over an eventual Brexit deal. Key Quotes “While we co

 

USD/JPY consolidates in a range, comfortably above 109.00 handle

The USD/JPY pair seesawed between tepid gains/minor losses through the Asian session on Friday and is currently placed in the neutral territory, aroun

 

Switzerland Unemployment Rate s.a (MoM) meets forecasts (2.3%) in October

Switzerland Unemployment Rate s.a (MoM) meets forecasts (2.3%) in October

 

GBP Futures: bearish with caution

Open interest in GBP futures markets shrunk for the third session in a row on Thursday, this time by just 293 contracts as per advanced data from CME

 

Forex Today: Markets whipsawed on fast-moving trade headlines, Canadian jobs and US consumer sentiment eyed

Here is what you need to know on Friday, November 8: – Trade: Contradicting reports about the state of US-Sino talks have been whipsawing markets. The

 

Philippines seen expanding above 6% in Q419 and 2020 – UOB

In light of the recent better-than-expected GDP figures, the growth prospects for the Philippines in the next months look solid and above the 6.0%, no

 




FX option expiries for Nov 8 NY cut

FX option expiries for Nov 8 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1050 921m 1.1095 580m 1.1100 1.0b 1.

 

US-China: Rising optimism over trade talks – Danske Bank

Danske Bank analysts point out that this week provided further optimism that the trade war has peaked and a phase one deal is in the pipeline – a deal

 

Australia: Growth to remain below trend this year – Westpac

According to analysts at Westpac, the Australian economy in mid-2019 was weak, with annual output growth slowing to only 1.4% (representing a decline

 

EUR Futures: extra downside on the cards

Preliminary figures for EUR futures markets from CME Group noted open interest went up by nearly 25K contracts on Thursday, the largest single day bui

 

Foreign Reserves in Indonesia expected to keep growing – UOB

Economist E.Tanuwidjaja at UOB Group reviewed the recent performance of FX Reserves in Indonesia. Key Quotes “Indonesia’s October foreign exchange res

 

Bank Indonesia’s Deputy Gov.: Exports, GDP growth to improve in Q4

Reuters reports the latest comments from the Bank Indonesia (BI), Indonesia’s central bank, Deputy Governor, with the key headlines noted below. Expec

 

US Dollar Index remains bid above 98.00, focus stays on trade

The US Dollar Index (DXY), which gauges the greenback vs. a basket of its main rivals, is prolonging the upside momentum beyond the 98.00 handle. US D

 

Juncker doesn’t believe Trump will impose Europe auto tariffs: report

Outgoing European Commission President Jean-Claude Juncker said he doesn’t believe President Donald Trump will levy tariffs on imported European cars next…

 

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Have a nice trading!




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