London opening news digest
|It’s now or never for incumbent banks with GAFA breathing down their neck so it’s time every bank sits their customer down, looks them in the eye and says “Right, now it’s time for me to care about how you feel about your money, I don’t want to lose you, I don’t want it to be closing time”.|
|The U.S. Surgeon General Jerome Adams called on the federal government to rethink marijuana’s classification as a Schedule I substance. While the Surgeon General did not go so far as to condone legalization for recreational use, he did say marijuana should be studied like any other pain relief drug.|
|The Japanese Yen and US Dollar may rebound as trade war worries, the ongoing US government shutdown and soft service-sector ISM data sour the markets’|
|Asian equity started a new week on good terms with itself as vice-ministerial level talks on trade began between the United States and China|
|CME Group’s preliminary figures for JPY futures noted open interest dropped by around 2.1K contracts on Friday from Thursday’s final 229,467 contracts|
|Australia AiG Performance of Mfg Index: 49.5 (December) vs previous 51.3|
|Carsten Brzeski, chief economist at ING, points out that German economy has provided us with a mixed bag of data for the month of November.
|Colombia Consumer Price Index (MoM) registered at 0.3%, below expectations (0.32%) in December|
|Japan Monetary Base (YoY): 4.8% (December) vs previous 6.1%|
|• Despite improving risk-sentiment, the pair struggled to build on its recovery move from flash crash lows and faced rejection near 100-hour SMA.|
|Morten Helt, senior analyst at Danske Bank, points out that on Friday, Federal Chairman Powell said that the FOMC’s policy is flexible and that offici|
|The UK Guardian reports that the German Foreign Minister is likely to visit Ireland for Brexit talks.
No further details have been mentioned on the s
|Karen Jones, analyst at Commerzbank, suggests that the USD/JPY’s major sell off seen on the 3rd January was exhaustive and we are seeing some near ter|
|The latest survey by polling firm YouGov published on Sunday showed that a majority of the Britons want to remain a member of the European Union (EU)|
|Open interest in GBP futures markets shrunk by almost 5.6K contracts on Friday vs. Thursday’s final 214,437 contracts. In the same line, volume decrea|
Hourly candles show the Fiber’s sideways spiral as the major pairing continues to struggle to separate itself from the 1.1400
|Germany Factory Orders n.s.a. (YoY): -4.3% (November) vs previous -2.7%|
|Germany Retail Sales (MoM) came in at 1.4%, above expectations (0.3%) in November|
|Germany Retail Sales (YoY) above expectations (-0.9%) in November: Actual (1.1%)|
|Germany Factory Orders s.a. (MoM) below forecasts (-0.5%) in November: Actual (-1%)|
|According to flash data from CME Group for EUR futures markets, traders added around 2.6K contracts on Friday from Thursday’s final 509,091 contracts.|
|FX option expiries for Jan 7 NY cut at 10:00 Eastern Time, via DTCC, can be found below.
– GBP/USD: GBP amounts
|• The USD continues to be weighed down by Powell’s cautious comments.
• US-China trade optimism underpinning Aussie and remained supportive.
|The upside momentum around the single currency remains well and sound at the beginning of the week and is now lifting EUR/USD to the area of daily top|
|Analysts at Danske Bank suggest that a key focus point today will be the start of US and Chinese officials’ mid-level trade talks in Beijing with a li|
|According to the latest headlines floating on the wires, via BBC, the UK government is said to hold meaningful vote on the UK PM Theresa May’s Brexit|
|Mitul Kotecha, senior emerging markets strategist at TD Securities, explains that the Emerging Market manufacturing has maintained the trend of deteri|
|Karen Jones, analyst at Commerzbank, suggests that after the GBP/USD sold off last week, it is probable that the slide to 1.2444 represented the end o|
|Reuters reports the latest comments by the German Economy Minister Peter Altmaier, with the key headlines found below.
Europe feels the effects of US
Near-term action on the Cable shows the pair maintaining a skewed stance towards the middle, with rough breaks to either side
|Han de Jong, chief economist of ABN AMRO, points out that the global business confidence weakened in the course of the past year with the exception of|
|According to Karen Jones, analyst at Commerzbank, EUR/USD remains within its range after last week it saw an emphatic rejection from the 1.1500 resist|
|Forex today in Asia cheered improved risk sentiment on the first trading of this week, with the Asian markets having bounced higher amid increased exp|
|Analysts at TD Securities point out that German factory orders for November are released and the market looks for a small decline of 0.1% m/m.
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