Heads-up News 

London Trading Session Heads Up Monday, January 7, 2019

London opening news digest

Why Banks Need To Care About Emotional Banking Before Closing Time

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”.

 

Surgeon General Believes It’s High Time For Marijuana Reclassification

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.

 

Yen, US Dollar May Rise as Market Mood Sours Again

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 Stocks Rise Broadly As US/China Trade Talks Kick Off

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

 

JPY futures: scope for further strength

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

Australia AiG Performance of Mfg Index: 49.5 (December) vs previous 51.3

 

Germany: Mixed economic releases – ING

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.

Key Quote

 

Colombia Consumer Price Index (MoM) registered at 0.3%, below expectations (0.32%) in December

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%

Japan Monetary Base (YoY): 4.8% (December) vs previous 6.1%

 

USD/JPY technical Analysis: Breaks below an ascending trend-line despite risk-on mood

•  Despite improving risk-sentiment, the pair struggled to build on its recovery move from flash crash lows and faced rejection near 100-hour SMA.

 

FOMC: Policy is flexible – Danske Bank

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

 




German ForMin to visit Ireland for Brexit talks – Guardian

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

 

USD/JPY: Spike lower is exhaustive – Commerzbank

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

 

Britons would now vote to stay in EU, want second referendum – YouGov poll

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)

 

GBP futures: rallies seen limited

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

 

EUR/USD Technical Analysis: Upper bound of consolidation awaits near 1.1475

EUR/USD, 15-Minute

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 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 (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 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%)

Germany Factory Orders s.a. (MoM) below forecasts (-0.5%) in November: Actual (-1%)

 

EUR futures: further rangebound likely

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

FX option expiries for Jan 7 NY cut at 10:00 Eastern Time, via DTCC, can be found below.

– GBP/USD: GBP amounts

1.2640 381m 
1.2700 413m

– USD/

 

AUD/USD hits 2-week tops, around 0.7135 region

•  The USD continues to be weighed down by Powell’s cautious comments.

   •  US-China trade optimism underpinning Aussie and remained supportive.

 




EUR/USD firmer, surpasses 1.1400 on trade optimism

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

 

US-China trade talks amongst market movers today – Danske Bank

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

 

UK government to hold meaningful vote on Brexit deal on Jan 15: BBC

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

 

Emerging Markets: Dark clouds over manufacturing – TDS

Mitul Kotecha, senior emerging markets strategist at TD Securities, explains that the Emerging Market manufacturing has maintained the trend of deteri

 

GBP/USD: End of the down move? – Commerzbank

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

 

Germany’s Altmaier: Europe feels the effects of US-China trade tensions

Reuters reports the latest comments by the German Economy Minister Peter Altmaier, with the key headlines found below.

Europe feels the effects of US

 

GBP/USD Technical Analysis: Looking for a fresh break into 1.2800

GBP/USD, 15-Minute

Near-term action on the Cable shows the pair maintaining a skewed stance towards the middle, with rough breaks to either side

 

US: Business confidence losing momentum – ABN AMRO

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

 

EUR/USD remains well supported – Commerzbank

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

 

FX Today: USD/JPY ignores improved risk-sentiment, German data – Up next

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

 

Germany: Factory orders likely to decline in November – TDS

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.

Key Qu

 

Cheer Up

Adage:

Level 2 – the circle in Hell where Satan explains an extremely complicated way how to lose a great amount of money for a very short period of time.

Cartoon:


Image courtesy: www.profitf.com

Have a nice trading!




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