London opening news digest
|I am a fan of H&S patterns and certain elements are more important to identifying such a setup’s success than oth|
|Financial markets may be rattled as the US and China struggle to make progress on trade war de-escalation while the World Bank warns of slowing|
|Most Asia Pacific stocks echoed Wall Street and the S&P 500 higher. Nikkei 225 rallied but resistance is preventing a takeoff. Markets are still awaiting|
|Last week’s brief USD/JPY collapse saw the ‘I word’ flashed around social media. In truth the Bank of Japan was never very likely to step|
|France Imports, EUR dipped from previous €47.3B to €46.3B in November|
|France Trade Balance EUR fell from previous €-4.1B to €-5.1B in November|
|France Current Account dipped from previous €-0.7B to €-2.8B in November|
|France Exports, EUR declined to €41.2B in November from previous €43.2B|
|According to Karen Jones, analyst at Commerzbank, USD/JPY’s recent major sell off was exhaustive and the market seems to absorb the massive move, with|
|Carsten Brzeski, chief economist at ING, points out that Germany’s industrial production fell by 1.9% month-on-month in November, while the October dr|
|UK Brexit secretary, Stephen Barclay was out with some comments in the last hour and confirmed that Parliament vote on the UK PM May’s Brexit deal is|
|Switzerland Real Retail Sales (YoY) down to -0.5% in November from previous 0.8%|
|The European Union is willing to give fresh, written assurances about the nature of the Northern Ireland backstop ahead of next week’s key vote at Wes|
|The selling pressure around the European currency appears to have re-emerged today, forcing EUR/USD to give away part of the recent up move to the 1.1|
|In its latest report published on Tuesday, the Arab Petroleum Investments Corporation (APICORP) noted that oil prices are likely to trade in the $60 t|
|Reuters reports the latest comments by the German Economy Minister Peter Altmaier, with the key headlines found below.
The economy is in good shape,
|• The pair extended last week’s sharp retracement slide from over 19-month tops and remained under some selling pressure for the fifth consecutive|
|South Africa Net $Gold & Forex Reserve up to $43.09B in December from previous $42.577B|
|South Africa Gross $Gold & Forex Reserve rose from previous $50.672B to $51.64B in December|
|Analysts at Standard Chartered Bank offer their outlook on the USD/INR cross for 2019, with the key quotes found below.
“The rupee will have enough s
This week marks a rejection from significant resistance for the Fiber, and although intraday buyers are trying to send the pai
|Germany Industrial Production n.s.a. w.d.a. (YoY) down to -4.7% in November from previous 1.8%|
|Open interest in JPY futures markets increased by nearly 2.2K contracts on Monday from Friday’s final 226,520 contracts, according to flash data from|
|Germany Industrial Production s.a. (MoM) below expectations (0.3%) in November: Actual (-1.9%)|
|Karen Jones, analyst at Commerzbank, explains that the GBP/USD last week sold off to and recovered from a 5 month support line, today located at 1.243|
|Norway Manufacturing Output fell from previous 1.5% to 0% in November|
The Sterling is testing into a significant turnaround zone from the 1.2800 zone, and exaggerated moves from last week are bre
|• Weaker Aussie trade surplus data prompts some selling on Tuesday.
• Modest USD rebound/rising US bond yields further add to the pressure.
|Analysts at Danske Bank point out that the British Prime Minister Theresa May’s cabinet is due to meet this morning to discuss a proposal that could p|
|Switzerland Unemployment Rate s.a (MoM) meets forecasts (2.4%) in December|
|CME Group’s advanced data for GBP futures markets showed open interest rose by nearly 1.5K contracts on Monday vs. Friday’s final 210,111 contracts. V|
|FX option expiries for Jan 8 NY cut at 10:00 Eastern Time, via DTCC, can be found below.
– EUR/USD: EUR amounts
|Analysts at TD Securities point out that in the UK, final voting takes place on the November Budget and will be a key event for today’s session.
|In light of preliminary figures for EUR futures markets from CME Group, investors added nearly 11K contracts to their open interest positions on Monda|
|Trend and Reversal Talking Points: • Systemic turns are very low probability events, so we should take pains to identify strong and clear criteria for such t…|
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