Heads-up News 

London Trading Session Heads Up Tuesday, January 8, 2019

London opening news digest

EURUSD, S&P 500, Oil – A Principle Reversal Ingredient

I am a fan of H&S patterns and certain elements are more important to identifying such a setup’s success than oth

 

US, China Trade Talks and World Bank Outlook May Rattle Markets

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

 

Asia Stocks Mostly Rise, Nikkei 225 Still Stuck Under Resistance

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

 

Are the Glory Days of Foreign Exchange Intervention in the Past?

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 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 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 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

France Exports, EUR declined to €41.2B in November from previous €43.2B

 

USD/JPY: Market attempts to absorb the massive move – Commerzbank

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

 

Germany: Disappointing industrial production gives rise to fears of a technical recession – ING

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’s Barclay: Parliament vote on PM May’s Brexit deal is going ahead next week

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%

Switzerland Real Retail Sales (YoY) down to -0.5% in November from previous 0.8%

 

Irish PM Varadkar: EU willing to give fresh assurances on backstop ahead of British parliament vote

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

 

EUR/USD comes under pressure near 1.1430, session lows

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

 

Oil prices to trade in $60-$70 range by mid-2019 – APICORP

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

 

Germany’s Altmaier: Economy is in good shape, order books are full

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

The economy is in good shape,

 

USD/CAD Technical Analysis: Extends overnight bearish breakthrough a confluence support

•  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 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

South Africa Gross $Gold & Forex Reserve rose from previous $50.672B to $51.64B in December

 

USD/INR: Robust FX reserves, USD stabilization to aid Rupee in 2019 – Standard Chartered

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

 

EUR/USD Technical Analysis: Bulls trying, but weakened by rejection below the 1.1500 zone

EUR/USD, 15-Minute

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%

Germany Industrial Production n.s.a. w.d.a. (YoY) down to -4.7% in November from previous 1.8%

 

JPY futures: neutral/bullish near term

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%)

Germany Industrial Production s.a. (MoM) below expectations (0.3%) in November: Actual (-1.9%)

 

GBP/USD: Well placed to tackle downtrend – Commerzbank

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

Norway Manufacturing Output fell from previous 1.5% to 0% in November

 

GBP/USD Technical Analysis: Looking for an upside break, but 1.2800 stands in the way

GBP/USD, 15-Minute

The Sterling is testing into a significant turnaround zone from the 1.2800 zone, and exaggerated moves from last week are bre

 

AUD/USD sticks to weaker Aussie data-led weakness, now eyeing 0.7100 mark

•  Weaker Aussie trade surplus data prompts some selling on Tuesday.

   •  Modest USD rebound/rising US bond yields further add to the pressure.

 

UK: Its politics all the way – Danske Bank

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

Switzerland Unemployment Rate s.a (MoM) meets forecasts (2.4%) in December

 

GBP futures: recent price action prompts some caution

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

FX option expiries for Jan 8 NY cut at 10:00 Eastern Time, via DTCC, can be found below.

– EUR/USD: EUR amounts

1.1335 766m
1.1340 676m 
1.1425

 

UK: Focus on budget voting – TDS

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.

Key

 

EUR futures: upside losing traction?

In light of preliminary figures for EUR futures markets from CME Group, investors added nearly 11K contracts to their open interest positions on Monda

 

EURUSD, S&P 500, Oil – A Principle Reversal Ingredient

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…

 

Cheer Up

Adage:

Being flat IS a position.

Cartoon:


Image courtesy: www.profitf.com

Have a nice trading!




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