Heads-up News 

London Trading Session Heads Up Tuesday, February 12, 2019

London opening news digest

Gold Prices May Fall if US Government Avoids Another Shutdown

Gold prices may fall if US officials avoid another government shutdown, boosting bond yields alongside risk appetite. Crude oil prices may struggle for direction however.


Asia Stocks Embrace Prospects of US Avoiding Another Shutdown

Asia Pacific stocks extended the upbeat mood in markets after it seemed that the US might not reenter a shutdown. Despite its impressive rally, the


AUD/JPY May Struggle to Breach and Sustain Movement Above 79.055

AUD/JPY may encounter difficulty breaching a key resistance at 79.055 after Dovish comments from the RBA sent the Aussie down.


EUR/USD gaining some traction around 1.1280

Finally some respite for the single currency. After printing fresh 2019 lows in the 1.1270 region at the beginning of the week, EUR/USD has managed to


GBP/USD continues to weigh on the downside – Commerzbank

According to Karen Jones, analyst at Commerzbank, GBP/USD pair came under pressure after it failed to make any impression on the 20 day ma at 1.2999.


AUD/USD clings to modest recovery gains, now eyeing a move towards 0.7100 handle

•  Better NAB business survey results prompted some short-covering move.

   •  A modest USD retracement/US-China trade optimism remained supportiv


Iron-ore rally likely to fizzle – HSBC

In the view of the HSBC’s Metals and Mining Equities team, the recent upsurge in iron-ore prices is unsustainable and likely to fizzle out in the comi


GBP: Guided by Brexit uncertainty – Westpac

Analysts at Westpac suggest that developments over the past two months in the Brexit ‘debate’ have led them to revise up their forecast profile from a


UK PM May to tell lawmakers to hold their nerve to get a Brexit deal from EU – BBC

BBC News is now reporting that the UK PM Theresa May is likely to urge the lawmakers to hold on their nerve to get a Brexit deal from the European Uni


US: Deal to end the trade war is close – Danske Bank

Analysts at Danske Bank note that the White House Adviser Kellyanne Conway told Fox News yesterday that it ‘absolutely’ looked like a deal to end the


JPY futures: downside could be losing momentum

Flash data for JPY futures markets from CME Group noted open interest declined for the third session in a row, this time by nearly 1.3K contracts on M


USD/JPY sticks to gains near multi-week tops, just above mid-110.00s

•  Gains traction for the second straight session amid the continuation of the recent USD rally.

   •  US-China trade optimism/risk-on mood dent J


Ex-Fed Chair Volcker: Trump administration on a constructive track

Former Federal Reserve Chairman Paul Volcker told Bridgewater co-chief investment officer Ray Dalio, in a podcast video released on Tuesday, he is unh


EUR/USD: Weighing on key support – Commerzbank

According to Karen Jones, analyst at Commerzbank, EUR/USD pair continues to weigh on key support in the 1.1315-1.1265 band, which is the 2016-2019 upt


FX option expiries for Feb 12 NY cut

FX option expiries for Feb 12 NY cut at 10:00 Eastern Time, via DTCC, can be found below.

– EUR/USD: EUR amounts

1.1365 2.0bn

– GBP/USD: GBP amo


GBP futures: bearish with caution

Open interest in GBP futures markets shrunk by more than 1.5K contracts on Monday vs. Friday’s final 193,921 contracts, recording the third consecutiv


Australia: Broad-based fall in housing finance approvals in late 2018 – Westpac

Matthew Hassan, analyst at Westpac, notes that Australian housing finance approvals posted a very weak finish to 2018 with sizeable declines across al


EUR futures: extra decline likely

CME Group’s preliminary figures for EUR futures markets noted investors added around 3.6K contracts to their open interest positions on Monday from Fr


Australia: Business conditions rebounded, confidence rose slightly – TDS

Analysts at TD Securities note that Australia’s NAB business conditions rebounded from +3 to +7 and business confidence rose slightly from +3 to +4.


Japan Machine Tool Orders (YoY) declined to -18.8% in January from previous -18.3%

Japan Machine Tool Orders (YoY) declined to -18.8% in January from previous -18.3%


US Dollar Index appears sidelined around 97.00

Tracked by the US Dollar Index (DXY), the greenback has now receded from YTD tops in the 97.10/15 band but manages well to keep the trade around the 9


Forex Today: Aussie – strongest amid Trump-led risk-on, eyes on Carney, Powell

The risk-on sentiment dominated the Asian trades this Tuesday on the back of the US President Trump’s optimism on the US-China trade deal. The Asian m


EUR/JPY: Trump’s speech and Japan data highlights 124.90

The Japanese Yen (Yen) weakened against the Euro to near 124.80 ahead of European session starts on Tuesday. The JPY registered losses across the boar


Cheer Up


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