Date : 31st October 2017. MACRO EVENTS & NEWS OF 31st October 2017. FX News Today European Outlook: Asian stock markets moved sideways overnight. U.K. and U.S. stock futures are little changed. Japanese markets pared losses as investors bought on dips, amid hopes of better earnings. The BoJ left policy on hold and while new board member Kataoka opted for additional easing, against a majority in favour of unchanged policy, the announcement had little impact on markets, with investors remaining hesitant to push indices higher ahead of a 3-day weekend in Japan and U.S. jobs data later in the week. The BoJ keeps the -0.1% rate with target remaining at 2% inflation and the 10-year JGB yield target at around 0%. In Europe most markets closed narrowly mixed on Monday, with only Spain rallying as Catalonia risks are being priced out. Today’s calendar has inflation data from Italy, France and for the Eurozone as a whole as well as GDP numbers from France and the Eurozone, the former was already released and came in at 0.5% q/q, as expected, but after last week’s ECB meeting the data won’t have any impact on the policy outlook. FX Update: The euro rally of yesterday has run out of puff, with EURUSD settling around 1.1630-40, below the 1.1657 high, while EURJPY has remained heavy, near yesterday’s 131.45 low. The yen, meanwhile, remains underpinned despite dovish guidance from the BoJ. USDJPY logged a 12-day low at 112.95, and AUDJPY has remained near the seven-month lows seen yesterday. The BoJ did the expected, and left policy on hold at its meeting today. New board member Kataoka voted for additional easing, while Governor Kuroda espoused dovish guidance in his press conference, warning that “abnormal” yen appreciation would hurt the economy and accelerate deflation, and that the central bank will continue with “powerful” accommodative monetary policy. In the U.S., political intrigue along with the announcement, promised to be made tomorrow, of the new Fed chair, will remain focal points for markets. Main Macro Events Today Eurozone GDP and Core CPI – Expectations – at 0.5% q/q from 0.6% and at 1.2% from 1.3% respectively. Canadian GDP- Expectations -0.1% increase in August. BoC – Governor Poloz Speaks before the House of Commons Standing Committee on Finance, in Ottawa. New Zealand Labor Data – Expectations – 0.1% decline in Unemployment Rate for Q3. Support and Resistance Levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Date : 1st November 2017. MACRO EVENTS & NEWS OF 1st November 2017. FX News Today European Outlook: Japan led a rally in Asian stocks, with technology shares boosting indices to near all-time highs in brisk trade as the Yen dropped and the manufacturing PMI inched higher. U.S. futures are also climbing higher amid ongoing optimism about tax reforms and U.K. futures are equally underpinned. The CSI 300 is in the red, but all in all an optimistic start to the month, as markets focus on today’s conclusion of its 2-day FOMC meeting with no change expected. The BoE will conclude its meeting tomorrow and markets are expecting a reversal of last year’s “emergency” rate cut following the Brexit vote. Today’s calendar is quiet, with many country’s and regions across Europe celebrating All Saints Day. The U.K. and Switzerland release manufacturing PMIs and the U.K. also has house price data from Nationwide. FX Update: The dollar has been trading mixed so far today, losing ground to an outperforming pound, holding net steady versus the euro while gaining on the yen. The pound traded firmer for a third consecutive day, logging a near-two-week high versus the dollar, at 1.1.3292 and a one-month high against the euro. Sterling markets are anticipating the BoE to hike the repo rate for the first time in a decade at tomorrow’s conclusion of the Monetary Policy Committee meeting. EURUSD, meanwhile, continued to gravitate around the 1.1630-40 area, and USDJPY logged a three-session high of 113.97 amid a backdrop of rallying stock markets across Asia and globally. EURJPY also hit a three-session peak, and other yen crosses also ground higher. Markets are expecting a tax reform announcement from the Trump administration, which is expected to happen on Thursday (a day later than previously advertised), and which is feeding a risk-on sentiment in markets. We expect the prevailing forex trends to hold good for now. Main Macro Events Today UK Manufacturing PMI – Expectations – nearly unchanged at 55.8 from 55.9 on September. US ADP Non-Farm Employment Change – Expectations – a 200K jump in private payrolls from 135K last month. US Manufacturing PMI – Expectations -a dip to 59.5 FOMC Statement – FOMC expected to announce no change to the 1.00% to 1.25% policy band today at 18:00 GMT . The policy statement is expected to reiterate the general outlook of moderate growth and subdued inflation, though there could be an upgrade on the economy given the swath of better than expected data, and the report of 3% growth in Q3. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Date : 2nd November 2017. MACRO EVENTS & NEWS OF 2nd November 2017. FX News Today European Outlook: Asian stock markets ex-Japan are mostly slightly down in the wake of the as-expected Fed announcement yesterday. Japan managed to outperform and the Nikkei is up 0.58%. U.S. and U.K. stock futures are heading south as attention turns to the BoE meeting today, which is expected to bring the first rate hike since 2007. Investors will are also awaiting the decision on the next Fed chair and U.S. job data at the end of the week. Against that data releases are likely to fade into the background. They include the final readings of Eurozone manufacturing PMIs as well as German jobless numbers and the U.K. construction PMI. FX Update: The dollar has traded softer following reports run by MarketWatch and Bloomberg saying that Fed Governor Powell will be nominated to the Fed Chairmanship position later on today. Powell is seen as one of the more dovish candidates for the top job at the Fed, similar to Yellen. Yesterday’s conclusion of the FOMC, meanwhile, predictably left policy unchanged, and while the Fed upgraded growth projections, core inflation was deemed to be remaining “soft.” The statement was consistent with an already discounted 25bp rate hike in December. This backdrop imparted a modest upside bias on EURUSD, which logged a one-week high at 1.1671 in Asian trade, while USDJPY declined under 114.00, leaving a three-day high at 114.28. The dollar also ebbed versus the Australian and other dollar bloc currencies, and most other units. Main Macro Events Today BoE Inflation Report and Monetary Policy – Following the BoE’s guidance, markets are fully expecting the central bank to make its first hike of the repo rate in 10 years, taking it to 0.50% from 0.25%. This would undo the ’emergency’ rate cut of August 2016, which came amid the panicky, although short-lived, period following the vote to leave the EU. Today’s MPC announcement will be accompanied by the publication of its quarterly Inflation Report. BoE Governor Carney- speaking at 12;30 GMT along with other MPC members, about the Inflation Report, in London. US Jobless Claims – Expectations – 2K rise from 233K last week at the Alternative Reference Rates Committee Round-table. Fedspeak – Governor Powell and Fed’s Dudley are due to speak today Support and Resistance Levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Date : 3rd November 2017. MACRO EVENTS & NEWS OF 3rd November 2017. FX News Today European Outlook: Asian stock markets traded mixed, as investors digest U.S. tax cut plans, Powell’s nomination as Fed chair ahead of today’s U.S. jobs report. Japan was closed for a holiday, Hang Seng and ASX moved higher, but the CSI 300 was under pressure and the Shanghai Composite Index is heading for a weekly decline of over 1% led by technology shsares and brokerages following the Communist Party Congress. UK100 futures as well as U.S. futures are moving higher though. U.K. markets remain underpinned by yesterday’s BoE report, which lifted rates, but didn’t put further moves on the agenda. This saw U.K. yields heading south yesterday and the UK100 bagging a 0.90% gain. Today’s local calendar is pretty empty, leaving markets to digest other news and look ahead to U.S. data in the afternoon. BoE Delivers First Rate Hike in 10 Years: The BoE did the expected and hiked rates by 25 bp to 0.50%, thus effectively reversing the “emergency” post-Brexit vote cut from last year. There were 2 dissenters and after yesterday’s move the central bank no longer warns that markets may be underestimating future rate hikes. President Trump officially nominated Jerome Powell as Fed chairman, replacing Janet Yellen. Powell is seen as a moderate and he has had experience in the government, the private sector, and at the Fed. He’s unlikely to make any abrupt changes to Yellen’s gradualist normalization path and should be a solid facilitator between the hawks and doves. Main Macro Events Today US NFP – Expectations – expected to surge at 312k in October, as the labor market gets back in gear following the hurricane disruptions that knocked employment down by 33k in September. US Unemployment Rate – Expectations – unchanged at 4.2% for October. Canadian Employment & Trade – Expectations – a 15.0k gain in October hiring after the 10.0k gain in September. The Employment has posted gains since December of last year. The trade deficit, is seen narrowing to -C$3.0 bln in September from -C$3.4 bln in August. US PMIs – Expectations – The ISM nonmanufacturing indexshould dip to 58.5 in October. Support and Resistance Levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Date : 6th November 2017. MACRO EVENTS & NEWS OF 6th November 2017. FX News Today The President Trump is off to Asia, the earnings season is winding down and the data calendar is thinning. There are several central bank meetings in Asia, however, but they should maintain the status quo. The U.S. economic calendar is a fairly lean one this week should largely be overshadowed by the October payrolls report the week prior, even as U.S. data continues to hit escape velocity after the early dampening impact of the fall hurricanes and even the Napa firestorms. United States: The week starts slowly with the release of JOLTS job openings (Tuesday), followed by the MBA mortgage applications and EIA energy inventory reports (Wednesday). Initial jobless claims are forecast to rebound 6k to 235k for the November 11 week (Thursday), while wholesale sales are forecast to rise 1.0% in September vs 1.7% and inventories are expected to increase 0.3% vs 0.8%. The week rounds out with updates on preliminary Michigan sentiment (Friday) seen rising to a median 100.7 in November from 100.7. Fedspeak will be highlighted by a Chair Yellen acceptance speech at the Paul H. Douglas Award for Ethics in Government (Tuesday) from 15 ET, though one would imagine that there will be little of policy substance here as she begins the transition to Chair-nominee Powell. Canada: The docket of economic data is housing-heavy this week. October housing starts (Wednesday) are expected to slip to 215.0k from 217.3k in September. Building permits (Wednesday) are seen falling 1.0% m/m in September after the 5.5% drop in August. The new housing price index (Thursday) is projected to gain 0.1% m/m in September, matching the 0.1% rise in August. Meanwhile, Bank of Canada Governor Poloz speaks (Tuesday) to the CFA Montreal and Montreal Council on Foreign Relations. His speech is titled “Central banks’ ability to understand inflation.” The Governor will also hold a press conference following the speech. The Bank of Canada’s “cautious” approach prevailed from the announcement-MPR-press-conference in October through testimony to Parliament last week from Poloz and Wilkins. Europe: With central bank decisions out of the way, the focus returns to Brexit talks. The December summit is approaching fast and so far there is no sign that there has been any progress on the key issues EU leaders want to have clarified before they agree to start trade talks. The data calendar is slowing down, but on the whole should confirm that the Eurozone recovery remains on track. German orders and production data may be expected to correct in September from the strong August numbers, but annual rates remain high and survey data suggests overall growth remained broadly steady at 0.6% q/q in Q3. The manufacturing orders expected (Monday) down -1.4% m/m and industrial production (Tuesday), down -1.2% m/m. The final reading for the Eurozone services PMI is likely to confirm that growth in the sector slowed down somewhat in October. September producer price inflation for the Eurozone (Monday), is expected to show an acceleration in the headline rate to 2.8% y/y from 2.5% y/y, as companies start to pass on cost pressures. Still, as the ECB already clarified its policy path until the end of September next year, the data don’t change the immediate outlook. Supply comes from Germany, which issues index linked bonds Tuesday and 5-year Bonds Wednesday. UK: Both Gilt yields and sterling tumbled last week, with both adjusting to a lower trading range following the BoE’s guidance at its November MPC meeting last week. The calendar this week starts with the BRC retail sales report for October (Monday), which will be of interest following the much weaker than expected CBI distributive sales survey, which, although not normally taken too seriously (as it covers only a two week period with relative few survey respondents), fanned concerns about the health of the consumer sector in the face of eroding spend power, with inflating having been outstripping pay awards for most of the year. Other data of note include September production and trade figures (both due Friday), where a 0.3% m/m rise and a 1.9% y/y gain, expected. China’s calendar has October trade (Wednesday), anticipated to widen to a $37.0 bln surplus from $28.6 bln in September. The CPI (Thursday) is projected at 1.8% y/y in October from 1.6% in September. The PPI (Thursday) is expected to slide to 6.5% y/y in October from 6.9% y/y in September. New Yuan loans (Friday) are seen falling to $900.0 bln in October from $1270.0 bln in September. Broadly, growth in China’s economy appears to be moderating. Japan: Japan’s docket is sparse this week. Core machinery orders (Thursday) are expected to pull-back 3.0% m/m in September after the 3.4% bounce in August. The tertiary industry index (Friday) is projected to fall 0.2% m/m in September after the 0.2% decline in August. Australia: The Reserve Bank of Australia’s meeting is the highlight. The Bank (Tuesday) is expected to hold the setting for the cash rate steady at 1.50%. The accompanying statement should be consistent with steady rates well into next year. The Bank releases an updated set of projections in Friday’s Statement on Monetary Policy. The economic data docket is empty of top tier releases this week. Housing investment (Thursday) is seen expanding 3.0% m/m in September after the 1.0% rise in August. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Date : 7th November 2017. MACRO EVENTS & NEWS OF 7th November 2017. FX News Today European Outlook: Asian stock markets rallied, with the Nikkei closing up 1.7%, ASX and Hang Seng also surged more than 1%. The Nikkei 225 closed at the highest level since 1992, underpinned by corporate earnings and the yen’s weakness against the dollar, while the turmoil in Saudi Arabia sent energy prices surging higher. U.K. and U.S. stock futures are also up as the front end WTI future climbed above USD 57 per barrel. The local calendar today has U.K. house price numbers, Eurozone retail PMIs and Eurozone retail sales. Earlier German production data released, which corrected -1.6% m/m in September, more than anticipated. After the strong 2.6% m/m rise in the previous month, this was only a partial correction that still left the annual rate at a healthy 3.6% y/y and with orders continuing to surge ahead, production seems to have taken a breather at the end of the third quarter. Reserve Bank of Australia held the cash rate at 1.50%, matching widespread expectations. Governor Lowe said the low level of interest rates is supporting the economy. The Board judged that holding rates steady would be “consistent with sustainable growth in the economy and achieving the inflation target over time.” The AUD appreciation since mid year is “expected to contribute to continued subdued price pressures in the economy.” The Bank’s forecast remains “for inflation to pick-up gradually as the economy strengthens.” Finally, the Bank’s growth forecasts are largely unchanged, with growth expected to pick-up and average around 3% over the next few years. AUDUSD bumped higher to 0.7965 from 0.7680 on the as-expected result, but has quickly returned to 0.7680. Main Macro Events Today ECB & BoC – ECB President Draghi is due to deliver opening remarks at the ECB Forum on Banking Supervision, in Frankfurt at 9:00 GMT. Later, Bank of Canada Governor Poloz speaks to the CFA Montreal and Montreal Council on Foreign Relations, at 17:55 GMT. Fedspeak – will be highlighted by a Chair Yellen acceptance speech at the Paul H. Douglas Award for Ethics in Government, though one would imagine that there will be little of policy substance here as she begins the transition to Chair-nominee Powell. . Moderate Fed Vice Chairman Quarles will take part in a discussion on financial regulation before the Clearing House Annual Conference. Eu Retail Sales – Expectations – rise at 0.6% for September from -0.5%. US Jolts Job Openings – Expectations – at 6.09M from 6.08M in August. Charts of the Day Support and Resistance Levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Date : 8th November 2017. MACRO EVENTS & NEWS OF 8th November 2017. FX News Today European Outlook: Asian stock markets were narrowly mixed. The Tokyo Stock Price Index closed at the highest level since 1991, while other indices hovered slightly below recent highs. The Dollar slipped on tax news, and oil prices fell back and UK100 and U.S. stock futures are in the red, while oil prices fell back below USD 56 per barrel. Time for stock taking it seems and yesterday’s late sell off on European bourses, which saw bond yields coming down sharply, it may be time for consolidation. There is not much else on the European calendar and French trade numbers are unlikely to attract too much attention. Fed & BoC: Yesterday, Fed Chair Yellen stuck to the script on ethics in government and didn’t stray into policy or the economy when she accepted her shared Douglas award with former Fed Chief Bernanke from the University of Illinois. Therefore she did not attract much attention by the market. BoC’s Poloz also delivered a speech yesterday, in which he downplayed the recent “perk-up” in wages, saying last week’s job report was “an encouraging set of numbers.” However, the “trend-line for wages has been quite low” and it perked up in the last data point but we “need more data points to be assured of that.” On oil, he cautioned that the supply curve for oil is more elastic than in the past (quick supply response). In response to a question on NAFTA, he repeated his often aired view last month that the main impact on their thinking focuses on business investment, and the extent to which already raised expectations would be higher if not for the uncertainty surrounding the negotiations. On inflation, he said the “shortfall from target has been pretty modest. It is still within the bank’s target band. People still think 2% is the right number. Main Macro Events Today Non-Monetary Policy’s ECB Meeting – Governing Council of the ECB: non-monetary policy meeting in Frankfurt Canadian Housing Data – Expectations – October housing starts at 215.0k from 217.3k in September and Building permits down to 1.0% m/m in September after the 5.5% drop in August. Oil Inventories – Expectations – down to -2.8M from -2.43M last week. RBNZ Rates & Monetary Policy statement – Expectations – no change to the current 1.75% policy setting. Charts of the Day Support and Resistance Levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Date : 9th November 2017. MACRO EVENTS & NEWS OF 9th November 2017. FX News Today European Outlook: Asian stock markets mostly moved higher. Japan under-performed and markets retreated in the afternoon from 25 year highs. A stronger Yen technically driven trading knocked indices and the Nikkei closed down -0.20%. News that the U.S. three-carrier strike group was conducting exercises off the Korean peninsular seemed to rattle some nerves in markets, prompting buying of the safe haven Japanese currency while pushing stocks — particularly markets in Japan and South Korea — off highs. Elsewhere markets closed higher. U.S. and UK100 futures are down, GER30 futures are pretty steady as markets await a number of key earnings reports, including Siemens and Deutsche Post, which could lift the GER30 to new record highs. Released overnight. Released overnight, the U.K. RICS house price balance came in weaker than expected. Still to come the ECB publishes its latest economic bulletin and the European Commission its updated set of forecasts. Last night, RBNZ held rates steady at 1.75%, matching widespread expectations for no change to the Official Cash Rate. Governor Spencer said policy will remain accommodative for a considerable period. Hence no change is anticipated for an extended period, with the next move a rate increase late in 2018. Today, German trade surplus widened in Q3. Germany posted a sa trade surplus of EUR 21.8 bln in September, slightly higher than the EUR 21.3 bln in August. This is nominal data, which is impacted by currency and oil price fluctuations, but the numbers point to a positive contribution from next exports to overall trade. Main Macro Events Today Canadian NHPI- The new housing price index is projected to gain 0.1% m/m in September, matching the 0.1% rise in August. US Unemployment Claims – rebound 6k to 233k for the November 11 week. SNB, ECB & German President Speeches – ECB’s Coeure, Vice president Constancio , Lautenschlager, German Buda President Weidmann and SNB Chairman Jordan, all have speeches to deliver today. Charts of the Day Support and Resistance Levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Date : 10th November 2017. MACRO EVENTS & NEWS OF 10th November 2017. FX News Today European Outlook: China outperformed and stocks head for the best week in three months, after an announcement that limits on foreign ownership of Chinese banks and asset managers will be removed. and while Chinese investors also propped up Hong Kong markets, elsewhere in Asia equities mostly declined, with Japan leading the way, following on from declines on Wall Street in Europe yesterday. U.S. tax concerns have spooked markets and the GER30 closed with a loss of -1.49% on Thursday, amid disappointing earnings reports, a stronger EUR and concerns about the prospects for U.S. tax reforms and while the index still remains at high level of over 13000 some are speculating on a broader correction from record levels. UK100 futures as well as DJ mini futures are posting marginal gains, but the UK100 already outperformed yesterday amid a weaker pound. Today’s calendar focuses on production data out of the U.K., France and Italy and the U.K. also has trade data for September and the NIESR GDP estimate in the afternoon. FX Action: USDJPY has recovered poise in Asia after tumbling yesterday on news that the implementation of the Senate plan to cut corporate tax in the U.S. will be delayed by two years and the extent of some other taxes will be trimmed. The news sparked a steep sell-off in U.S. and global equity markets, driving demand for the yen, among other perceived safe haven currencies and assets. A subsequent report that Republican Senator Cornyn is looking to avoid a one-year delay seemed to throw markets a lift line. USDJPY pair has recouped to around 113.40 after clocking a low at 113.09, which is the lowest level seen since October 31. Main Macro Events Today UK Manufacturing Production – Expectations – a fall to 0.3% m/m from 0.4% and a 2.4% y/y from 2.8%. UK Good Trade Balance – Expectations – a deficit of -12.8B Pounds for September from – 14.25B. US Prelim UoM Consumer Sentiment – Expectations – unchanged at 100.7. Charts of the Day Support and Resistance Levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Date : 13th November 2017. THE ECONOMIC WEEK AHEAD. Main Macro Events This Week Global bonds and stocks generally declined last week, in large part on political and fiscal worries. Equities slid in the U.S. and Europe, with Wall Street posting its first losing week since September. Despite improved global growth, wrangling in Washington and anxiety over the Trump agenda, especially with the duelling tax plans, concerns over a potential ballooning U.S. deficit, along with Brexit-related angst, not to mention the political intrigue in Saudi Arabia, and rising oil prices, all saw investors fleeing key asset markets. These factors will keep trading choppy and cautious. United States: Politics and the debate on tax reform will remain front and centre this week, although there are several important data releases, as well as Fedspeak, and earnings announcements that will vie for attention. All eyes will be on Washington as the Republican controlled House and Senate try to reconcile their respective tax plans in time for a vote this year. There are several key economic releases this week that will help fine tune the outlook heading into year-end, with some of the disaster effects washing out. October CPI and retail sales (Wednesday) headline the calendar. Production and manufacturing data will also be of interest. Industrial production (Thursday) is expected to climb 0.7% in October, bouncing on disaster rebuilding, following the 0.3% September gain, with capacity utilization rising to 76.4% from 76.0%. The November Empire State manufacturing index (Wednesday) is seen falling to 24.0 after the 5.8 point jump to 30.2 previously. The November Philly Fed index (Thursday) should fall 3.9 points to 24.0 after rising 4.1 points to 27.9 in October. Also important this week will be housing starts for October, expected to increase to a 1.160 mln rate from 1.127 mln. Canada: Canada’s bond markets are closed Monday for Remembrance Day. Stocks markets are open. The calendar features September manufacturing (Thursday) and October CPI (Friday). The Teranet/National Home Price Index for October and the October existing home sales report are both due on Wednesday. ADP debuts its Canada National Employment report on Thursday. ADP’s U.S. report is a market mover, and the Canada edition is sure to generate considerable interest given the lack of direct inputs available for the Statistic Canada’s monthly jobs report. Bank of Canada Senior Deputy Governor Wilkins speaks on Wednesday to the Money Marketeers of New York in New York, NY. Her speech is titled “Monetary Policy Under Uncertainty.” The Bank publishes the biannual Bank of Canada Review on Thursday. Europe: Geopolitical risks weighed on markets last week and huge swings in peripheral long yields highlight that the ECB’s ongoing presence on secondary markets is leaving its mark and in times of weak supply is also likely to add to volatility. Rate hikes are not on the horizon until 2019, but the large number of ECB officials on the speaking circuit this week is likely to once again show that a growing divergence between the hawks and the doves at the ECB with the number of those urging a commitment to an exit to QE on the rise. Data releases include final inflation data for October, which are unlikely to hold major surprises. German HICP (Tuesday) expected to be confirmed at 1.5% y/y and the overall Eurozone HICP (Thursday) at just 1.4% y/y. Those will support arguments for the doves at the ECB. Still, growth indicators are robust and the first reading of German GDP growth for Q3 (Tuesday) is seen at 0.5% q/q, slightly slower than the 0.6% clip Q2. Also on the calendar are country GDP readings, including Italy and Portugal, among others, as well as Eurozone trade, BoP and production data.The most important indicator for the markets and the overall growth outlook will be the German ZEW readings for November (Tuesday). A slightly weaker than expected numbers would still suggest the German economy, in particular, is on course to steam ahead with above potential growth rates this year and next, making the ECB’s monetary policy position looking too expansionary for the Eurozone’s largest economy. These factors aren’t likely to impress the doves, however, who remain focused on still sluggish growth in Italy in particular. UK: The calendar this week is highlighted by the release of October inflation data (Tuesday). The BoE is anticipating CPI to decline to 2.4% in 2018 after 3.0% this year, and to ebb further to 2.2% y/y in 2019. The central bank is expected to hike the repo rate two more times over this period, though latest BoE agents report highlighted that wage demands are picking up — a backdrop that, should it sustain, could potentially see policymakers turn more hawkish. Labour market data is also up this week (Wednesday), where the unemployment rate anticipated unchanged at the cycle low of 4.3% in September. Attention will be on average household income figures given the BoE’s agents report shining of light on a possible sea change in the bargaining position of workers amid a tightening labour market. October retail sales data will round out the UK’s agenda this week (Thursday). China: In China, October industrial output (Tuesday) is seen at 6.0% y/y from 6.7% previously, while October retail sales are anticipated at a 10.4% y/y rate from 10.3%. October loan growth and new yuan loan data (tentatively Wednesday) should show the former at a 13.0% y/y clip from 13.1%, with the latter at CNY 900.0 bln from 1,270.0 bln. Japan: In Japan, the preliminary look at Q3 GDP (Wednesday) is penciled in at 1.5% q/q from 2.5% in Q2. Revised September industrial production is also due (Wednesday). It fell 1.1% in the preliminary print, versus a 2.0% August gain. Australia: The October employment report (Thursday) is expected to show a 20.0k increase employment after the 19.8k gain in September. The unemployment rate is seen at 5.5% in October, identical to the rate in September. The wage price index (Wednesday) is projected to expand at a 0.6% pace in Q3 (q/q, sa) after the 0.5% rise in Q2. The wage price index is seen growing at a 2.1% y/y pace in Q3 from the 1.9% y/y pace seen each quarter from Q3 of 2016 to Q2 of 2017. The 1.9% y/y growth pace is the slowest pace on record going back to the late 1990’s. Assistant Governor (Economic) Ellis speaks Wednesday. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
