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709300.0 | 2019-02-06 00:00:00 UTC | The Kiwi Takes a Hit as the Focus Shifts to Carney and the BoE | DBO | https://www.nasdaq.com/articles/kiwi-takes-hit-focus-shifts-carney-and-boe-2019-02-06 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was on the lighter side. Stats were limited to 4 th quarter employment figures out of New Zealand.
Outside the numbers, FOMC member Quarles and FED Chair Powell delivered speeches in the early hours.
For the Kiwi Dollar
According to figures released by NZStats ,
The unemployment rate rose from a revised 4.0% to 4.3% in the 4 th quarter, rising above a forecasted 4.1%.
New Zealand's employment rate fell by 0.4pp to 67.8%, easing back from its peak at2% in the 3 rd quarter.
The labor force participation rate fell by 0.1pp to 70.90%.
Quarter-on-quarter, employment grew by just 0.1%, compared with a 0.7% rise in the working-age population.
Year-on-year, the Labour cost index ( LCI ) increased 1.9% in the 4 th Private sector wages rose by 2.0%, while public sector wages increased by 1.7%.
The Kiwi Dollar moved from $0.68301 to $0.67752 release of the figures. At the time of writing, the Kiwi Dollar stood at $0.6750, a loss of 0.38% for the session.
Elsewhere
The Japanese Yen stood at ¥109.95 against the Dollar, up by just 0.02% for the session. The Aussie Dollar was flat at $0.7105, with a jump in iron ore prices providing the Aussie Dollar with support in the early part of the day.
The Day Ahead:
For the EUR
Economic data scheduled for release through the day is limited to December industrial production figures out of Germany. Following consecutive monthly declines in factory orders and a contraction in Germany's manufacturing sector, the numbers could come in softer than forecasted to weigh on the EUR. Forecasts are for a 0.7% rise in December.
With the EUR back at $1.13 levels, pressured by sentiment towards current economic conditions and the bloc's economic outlook, EUR sensitivity to the numbers out of Germany will likely be heightened.
Outside the numbers, the ECB's Economic Bulletin and European Commission forecasts are due out, which will also garner plenty of attention. The ECB's taken a dovish view on the economy, so the markets will be looking out for any downward revisions to growth and inflation forecasts.
If bank earnings are anything to go by, the economic slowdown could be more pronounced than initially anticipated.
At the time of writing, the EUR was down 0.02% to $1.1360.
For the Pound
Economic data is limited to January house price figures. The numbers will likely be brushed aside, with the focus expected to be on today's BoE monetary policy decision. While rates are expected to be on hold, Brexit leaving the BoE in a holding pattern, the Bank's outlook on growth and inflation will be key considerations from the inflation report and meeting minutes.
Alongside an expected response to the BoE's views on the economy, Brexit chatter will remain in focus. While the British PM continues to face hurdles over the Irish backstop, support for the Pound could come from any rise in prospects of a delay to the end of March departure from the EU.
At the time of writing, the Pound was flat at $1.2932, with Brexit chatter and the BoE the key drivers throughout the day.
Across the Pond
Economic data is limited to the weekly initial jobless claims figures. The Dollar showed a more marked response to the figures than normal last week. We can expect the same again should the figures disappoint.
Outside the numbers, FOMC member chatter will also be there to provide direction, as will any chatter from the Oval Office.
FOMC member Clarida is scheduled to speak later today. Earlier in the day FOMC member Quarles and FED Chair Powell spoke.
At the time of writing, the Dollar Spot Index was up by 0.34% to 96.39.
For the Loonie
There are no material stats scheduled for release, leaving the Loonie in the hands of market risk appetite and the direction of crude oil prices .
Yet more weak economic data out of Canada on Wednesday continues to support the dovish bias to the BoC and outlook on monetary policy. January's Ivey PMI came in at 54.7 on Wednesday, sliding from December's 59.7 and coming in well below a forecasted 56.4.
The Loonie was down by 0.19% to C$1.3239, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Following consecutive monthly declines in factory orders and a contraction in Germany's manufacturing sector, the numbers could come in softer than forecasted to weigh on the EUR. While the British PM continues to face hurdles over the Irish backstop, support for the Pound could come from any rise in prospects of a delay to the end of March departure from the EU. Yet more weak economic data out of Canada on Wednesday continues to support the dovish bias to the BoC and outlook on monetary policy. | Outside the numbers, FOMC member Quarles and FED Chair Powell delivered speeches in the early hours. The Day Ahead: For the EUR Economic data scheduled for release through the day is limited to December industrial production figures out of Germany. This article was originally posted on FX Empire More From FXEMPIRE: DAX Index Daily Price Forecast - DAX To Trade Dovish On Cues From Wall Street USD/JPY Fundamental Daily Forecast - Powell Comments on Fed Policy Should Set the Tone GBP/USD Price Forecast - British Pound Consolidates Above 1.29 Ahead of BOE MPC Update The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Kiwi Dollar According to figures released by NZStats , The unemployment rate rose from a revised 4.0% to 4.3% in the 4 th quarter, rising above a forecasted 4.1%. The Day Ahead: For the EUR Economic data scheduled for release through the day is limited to December industrial production figures out of Germany. This article was originally posted on FX Empire More From FXEMPIRE: DAX Index Daily Price Forecast - DAX To Trade Dovish On Cues From Wall Street USD/JPY Fundamental Daily Forecast - Powell Comments on Fed Policy Should Set the Tone GBP/USD Price Forecast - British Pound Consolidates Above 1.29 Ahead of BOE MPC Update The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stats were limited to 4 th quarter employment figures out of New Zealand. The Day Ahead: For the EUR Economic data scheduled for release through the day is limited to December industrial production figures out of Germany. Alongside an expected response to the BoE's views on the economy, Brexit chatter will remain in focus. | c87cb692-e3b2-4f1a-a870-1b4c2c50752b |
709301.0 | 2019-02-04 00:00:00 UTC | The Greenback is on the Move, with Stats on the Lighter Side Today | DBO | https://www.nasdaq.com/articles/greenback-move-stats-lighter-side-today-2019-02-04 | nan | nan | Earlier in the Day:
Economic data released through the Asian session was limited to December building consents and building approvals out of Australia.
For the Kiwi Dollar
Building consents increased by 5.1% to a 14-year high in December. The increase reversed November's revised 1.9% slide.
According to StatsNZ,
32,996 new homes were consented, sitting just below the most recent peak in June 2004, when 33,251 were consented.
At the time of writing, the Kiwi Dollar stood at $0.6890, a loss of 0.14% for the session.
For the Aussie Dollar
Building approvals tumbled by 8.4% in December, following a revised 9.8% fall in November. Approvals came up well short of a forecasted 1.8% rise. According to figures released by the ABS,
Consents for private dwellings excluding houses fell by 18.8%.
Private house consents fell by 2.2%.
The Aussie Dollar moved from $0.72530 to $0.72325 upon release of the figures, before easing to $0.7226 at the time of writing, a loss of 0.33% for the session.
Elsewhere, the Japanese Yen stood at ¥109.76 against the Dollar, down by 0.24% for the session, as U.S Dollar strength weighed on the majors through the early part of the day.
In the equity markets, it was a solid start to the day, supported by solid labor market figures out of the U.S on Friday and positive comments from the U.S President on trade talks between the U.S and China over the weekend.
The ASX200 was up by 0.57% ahead of the close, with the Nikkei up by 0.30%. Trailing was the Hang Seng, with a more modest 0.21% gain, volumes on the lighter side due to Chinese New Year.
The Day Ahead:
For the EUR
Preliminary January inflation figures out of Italy are the only material stats scheduled for release out of the Eurozone.
The inflation figures are forecasted to be EUR positive, though we would expect the EUR response to be relatively muted barring better than expected numbers.
Following Friday's nonfarm payroll figures out of the U.S, the EUR may well start off the week on the back foot.
Disappointing data out of the Eurozone and upbeat numbers out of the U.S gives the Dollar momentum going into the week.
At the time of writing, the EUR was down 0.11% to $1.1443.
For the Pound
The January Construction PMI is the only economic data due out later this morning. The numbers will have some influence on the Pound, though the focus will ultimately be on Brexit and Thursday's monetary policy decision.
News of Nissan scrapping its plans to make the X-Trail in the UK may be the tip of the iceberg.
At the time of writing, the Pound was down by 0.05% to $1.3072, with Brexit chatter remaining the key driver through the day.
Across the Pond
It's a relatively quiet day on the economic calendar . U.S factory orders will provide the Dollar with direction later in the day, as the Asian markets respond to Friday's nonfarm payroll figures.
Outside of the numbers, chatter from the Oval Office will also have an influence ahead of tomorrow's State of the Union Address.
At the time of writing, the Dollar Spot Index was up 0.10% to 95.673.
For the Loonie
Market risk sentiment and direction from crude oil prices will be the key drivers for the Loonie through the day. The markets will need to wait until tomorrow's December trade figures to assess whether there is any chance of a shift in the BoC's outlook on rates.
The Loonie was down by 0.02% to C$1.3104, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR Preliminary January inflation figures out of Italy are the only material stats scheduled for release out of the Eurozone. U.S factory orders will provide the Dollar with direction later in the day, as the Asian markets respond to Friday's nonfarm payroll figures. This article was originally posted on FX Empire More From FXEMPIRE: Precious Metals Decline On Steady Risk Appetite USD/JPY Fundamental Daily Forecast - Higher Treasury Yields Forcing Shorts to Make Adjustments Price of Gold Fundamental Daily Forecast - Pressured by Rising Treasury Yields, Steady Dollar The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session was limited to December building consents and building approvals out of Australia. For the Kiwi Dollar Building consents increased by 5.1% to a 14-year high in December. This article was originally posted on FX Empire More From FXEMPIRE: Precious Metals Decline On Steady Risk Appetite USD/JPY Fundamental Daily Forecast - Higher Treasury Yields Forcing Shorts to Make Adjustments Price of Gold Fundamental Daily Forecast - Pressured by Rising Treasury Yields, Steady Dollar The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session was limited to December building consents and building approvals out of Australia. The Aussie Dollar moved from $0.72530 to $0.72325 upon release of the figures, before easing to $0.7226 at the time of writing, a loss of 0.33% for the session. This article was originally posted on FX Empire More From FXEMPIRE: Precious Metals Decline On Steady Risk Appetite USD/JPY Fundamental Daily Forecast - Higher Treasury Yields Forcing Shorts to Make Adjustments Price of Gold Fundamental Daily Forecast - Pressured by Rising Treasury Yields, Steady Dollar The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session was limited to December building consents and building approvals out of Australia. The Aussie Dollar moved from $0.72530 to $0.72325 upon release of the figures, before easing to $0.7226 at the time of writing, a loss of 0.33% for the session. At the time of writing, the Pound was down by 0.05% to $1.3072, with Brexit chatter remaining the key driver through the day. | bb063521-b492-4b9a-92b6-30a6122f897d |
709302.0 | 2019-02-01 00:00:00 UTC | Is the Dollar in for a Surprise? Nonfarm Payrolls and Wage Growth in Focus | DBO | https://www.nasdaq.com/articles/dollar-surprise-nonfarm-payrolls-and-wage-growth-focus-2019-02-01 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning included manufacturing and wholesale inflation numbers out of Australia, Japan's job-applications ratio and January's Caixin Manufacturing PMI out of China.
For the Aussie Dollar , the AIG Manufacturing Index rose from a revised 50.0 to 52.5 in January.
Six of the seven activity indexes were in expansion in January, while on a downward trend since the 3 rd quarter of last year.
Export orders saw a modest improvement, up by 1.8 points to 52.1, with the new orders index up by 2.0 to 52.3.
The employment index rose by 2.8 points to 51.1, while the average wages index fell by 1.5 points to 61.8
The input price index fell by 2.9 points to 70.3. Selling prices rose by 5.6 points to 50.2.
Three of the six sectors expanded in January, with two stable and one in contraction. Compared to the previous month, 5 of the 6 sectors saw weaker numbers.
The Aussie Dollar moved from $0.72723 to $0.72756 upon release of the figures that came out ahead of the wholesale inflation numbers, and China's manufacturing PMI.
In the 4 th quarter, wholesale inflation prices rose by 2%, year-on-year, easing from the 3 rd quarter 2.1%. Quarter-on-quarter, wholesale prices rose by 0.5%, coming up short of a forecasted 0.6% and 3 rd quarter 0.8%.
According to the ABS,
The increase was attributed to rising prices received for heavy and civil engineering construction (+1.0%), building construction (+0.4%) and accommodation (+3.8%).
Partially offsetting were falls in prices received for petroleum refining and petroleum fuel manufacturing (-10.6%) and bakery product manufacturing (-2.7%).
The Aussie Dollar moved from $0.72754 to $0.72704 upon release of the figures that preceded the PMI number out of China.
For the Japanese Yen , the jobs to application ratio held steady at 1.63 in December, which was in line with forecasts.
The Japanese Yen moved from ¥108.868 to ¥108.860 against the Dollar, upon release of the figures, before rising to ¥108.87 at the time of writing, up by 0.02% for the session.
Out of China , the Caixin Manufacturing PMI came in at 48.3 in January, falling short of a forecasted 49.5 and December 49.7. The PMI was the lowest since Feb-16.
New orders were slightly subdued, though the weakness was attributed to softer domestic demand, with new orders from overseas rising in January.
Workforce numbers fell further, but at the slowest pace in 9-months.
The number of outstanding orders saw a modest increase in January.
Business confidence saw a slight improvement, particularly for over the next 12-months, coming in at its highest since May-18.
The Aussie Dollar moved from $0.72528 to $0.72433 upon release of the figures, before sliding to $0.7241 at the time of writing, a loss of 0.44% for the session, data out of China doing the Aussie Dollar few favors.
Elsewhere, the Kiwi Dollar was down by 0.06% to $0.6912.
The Day Ahead:
For the EUR , it's another busy day ahead on the economic calendar . Key stats include January manufacturing PMI numbers and preliminary January inflation figures out of the Eurozone.
Barring a revision to Germany's prelim figures, focus may well be on Italy's manufacturing sector numbers. The sector contracted in December and the markets will be looking for a bounce back at the start of the year. Inflation figures will have also have an impact. Forecasts are for softer numbers and a weaker EUR.
At the time of writing, the EUR was down 0.05% to $1.1442.
For the Pound , economic data due out later this morning is limited to January's manufacturing PMI. Numbers in line with or weaker than forecast won't be doing the Pound any favors.
We would expect the focus to remain on Brexit chatter, with a no-deal departure from the EU becoming an ever more likely outcome should the EU maintain their stance on negotiations.
At the time of writing, the Pound was down by 0.11% to $1.3094, with Brexit chatter remaining the key driver through the day.
Across the Pond , it's a big day for the Greenback. Key stats due out later today include January's unemployment rate, wage growth, and nonfarm payroll figures, the market's preferred ISM manufacturing PMI numbers, the Markit Manufacturing PMI and finalized consumer sentiment figures.
The unemployment rate, nonfarm payroll, and wage growth figures will be the key driver on the data front. On the nonfarm payroll numbers, any revisions to December numbers would also need to be considered.
Outside of the labor market figures, the ISM manufacturing PMI will also have an impact. The market will be looking for clues on the direction of the economy at the start of the 1 st quarter.
At the time of writing, the Dollar Spot Index was up 0.04% to 95.619.
For the Loonie , it's a quiet day on the data front, leaving the Loonie back in the hands of market risk sentiment and the influence of today's stats out of China and the U.S on crude oil prices .
The Loonie was down by 0.18% to C$1.3149, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Aussie Dollar moved from $0.72723 to $0.72756 upon release of the figures that came out ahead of the wholesale inflation numbers, and China's manufacturing PMI. Key stats due out later today include January's unemployment rate, wage growth, and nonfarm payroll figures, the market's preferred ISM manufacturing PMI numbers, the Markit Manufacturing PMI and finalized consumer sentiment figures. The unemployment rate, nonfarm payroll, and wage growth figures will be the key driver on the data front. | Key stats include January manufacturing PMI numbers and preliminary January inflation figures out of the Eurozone. Key stats due out later today include January's unemployment rate, wage growth, and nonfarm payroll figures, the market's preferred ISM manufacturing PMI numbers, the Markit Manufacturing PMI and finalized consumer sentiment figures. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Forex Technical Analysis - Next Upside Target Dec. 3 Top at .7394 Oil Price Fundamental Daily Forecast - OPEC-led Cuts Underpinning Prices; China Deal Will Spike Prices Higher Gold Price Futures (GC) Technical Analysis - Next Upside Target $1337.80, Key Support Level $1319.70 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning included manufacturing and wholesale inflation numbers out of Australia, Japan's job-applications ratio and January's Caixin Manufacturing PMI out of China. Key stats due out later today include January's unemployment rate, wage growth, and nonfarm payroll figures, the market's preferred ISM manufacturing PMI numbers, the Markit Manufacturing PMI and finalized consumer sentiment figures. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Forex Technical Analysis - Next Upside Target Dec. 3 Top at .7394 Oil Price Fundamental Daily Forecast - OPEC-led Cuts Underpinning Prices; China Deal Will Spike Prices Higher Gold Price Futures (GC) Technical Analysis - Next Upside Target $1337.80, Key Support Level $1319.70 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Aussie Dollar moved from $0.72723 to $0.72756 upon release of the figures that came out ahead of the wholesale inflation numbers, and China's manufacturing PMI. Out of China , the Caixin Manufacturing PMI came in at 48.3 in January, falling short of a forecasted 49.5 and December 49.7. At the time of writing, the Pound was down by 0.11% to $1.3094, with Brexit chatter remaining the key driver through the day. | 7706161d-1041-4f35-a738-983b5ae3681b |
709303.0 | 2019-01-30 00:00:00 UTC | Eurozone GDP Numbers Could See the EUR Hit Reverse | DBO | https://www.nasdaq.com/articles/eurozone-gdp-numbers-could-see-eur-hit-reverse-2019-01-30 | nan | nan | Economic data released through the Asian session this morning was on the heavier side. Key stats included December industrial production figures out of Japan, December private sector credit numbers out of Australia and January private sector PMI numbers out of China.
Outside of the stats, the markets also continued to respond to the overnight FOMC statement and the continued shift in the FED's outlook on rates.
For the Japanese Yen , industrial production fell by just 0.1% in December, coming ahead of a forecasted 0.5% decline. In November, production slid by 1%.
Industries contributing to the decrease were:
Production machinery, chemicals (excl. inorganic, organic chemicals and medicine) and electronic parts and devices, in that order.
Industries contributing to an increase were:
General purpose and business-oriented machinery, motor vehicles and electrical machinery, and information and communication electronics equipment, in that order.
Looking ahead to January and February forecasts, January's forecast was revised up from a 0.8% decline to a 0.1% decline, while February's forecast for production came in at a 2.6% increase.
The Japanese Yen moved from ¥108.963 to ¥109.005 against the Dollar upon release of the figures, before rising to ¥108.89 at the time of writing, up 0.14% for the session.
For the Aussie Dollar , private sector credit rose by 0.2% in December, month-on-month, coming up short of a forecasted and November 0.3% increase. According to the figures released by the RBA,
Personal credit fell by 0.4%, following on from a 0.3% decline in November.
Business credit eased from 0.5% to 0.3%, while housing sector credit held steady at 0.3%.
Year-on-year, private sector credit rose by 4.3%, down from 4.8% in November.
The decline was attributed to a 2% fall in personal credit, following on from a 1.1% fall in November. Housing credit also saw softer growth, up by 4.7% compared with 6.3% in November.
On the plus side, business sector credit picked up, rising by 4.8% compared with 3.1% in November.
The Aussie Dollar moved from $0.72591 to $0.72490 upon release of the figures, which came ahead of the private sector PMI numbers out of China.
Out of China , January's Manufacturing PMI came in at 49.5, which was better than a forecasted 49.3 and December 49.4. The non-manufacturing PMI came in at 54.7, which was far better than a forecasted 53.9 and December 53.8.
While the all-important manufacturing sector contracted for a 2 nd consecutive month, adding to market jitters over the Chinese and global economy, the positive was the pickup in non-manufacturing sector activity.
It's all about progress on trade talks now. Following the softest growth in almost 30 years, a continued contraction in manufacturing sector activity doesn't bode well should trade talks collapse.
The Aussie Dollar moved from $0.72492 to $0.724544 upon release of the figures, before rising to $0.7261 at the time of writing, a gain of 0.18% for the session.
Elsewhere, the Kiwi Dollar was up by 0.10% to $0.6901, the gains coming off the back of the FOMC's dovish tones and improved stats out of China that supported risk appetite early on.
The Day Ahead:
For the EUR , it's a busy day ahead, with key stats scheduled for release including retail sales and unemployment figures out of Germany, prelim January inflation numbers out of France and Spain. 4 th quarter GDP numbers and unemployment figures out of the Eurozone are also scheduled for release.
We will expect the focus to be on the numbers out of Germany and the Eurozone's GDP figures. After the Dollar's slide, the EUR could give up some of the upside should the GDP numbers come up short, concerns over growth and a dovish ECB having kept the EUR at bay of late.
At the time of writing, the EUR was up 0.13% to $1.1495.
For the Pound , it's a quiet day on the economic calendar , with house price figures scheduled for release unlikely to have a material influence through the day.
Britain and the Pound are back to the drawing board, with an unwilling negotiator on the other side of the table.
Will the EU meet Britain halfway, or is there more Pound stress to come?
If EU member comments, following the parliamentary vote, are anything to go by then the prospects of a no deal departure are back on the table as is the chance of a 2 nd referendum.
At the time of writing, the Pound was up 0.02% to $1.3119, with the markets holding onto hope that Britain will not walk out of the EU with no deal in hand.
Across the Pond , economic data scheduled for release include the weekly jobless claims figures and 4 th quarter employment cost numbers, which are due out ahead of January's Chicago PMI and new home sales numbers.
We can expect Dollar the Dollar to respond to the Chicago PMI and employment cost figures, though there are unlikely to be any fireworks following the FOMC's dovish tones on Wednesday that tanked the Greenback.
Updates from the U.S - China trade talks and commentary from the Oval Office are also there to consider through the day.
At the time of writing, the Dollar Spot Index was down 0.02% to 95.320.
For the Loonie , there are finally some stats for the markets to consider. Data due out this afternoon includes December's RMPI and GDP numbers. We can expect the stats to have a material influence on the Loonie, with some positive numbers needed to shift sentiment towards the BoC's outlook on rates. Even solid figures may not be enough, however, with economic growth forecasts being lowered by the IMF and Central Banks a good enough reason to sit in a holding pattern.
The Loonie was up 0.08% to C$1.3138, against the U.S Dollar, at the time of writing, supported by a continued rise in crude oil prices and the softer Greenback.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Elsewhere, the Kiwi Dollar was up by 0.10% to $0.6901, the gains coming off the back of the FOMC's dovish tones and improved stats out of China that supported risk appetite early on. Even solid figures may not be enough, however, with economic growth forecasts being lowered by the IMF and Central Banks a good enough reason to sit in a holding pattern. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Prediction - Prices Break Signal on Dovish Fed Decision Dollar Less-Attractive After Dovish Fed Drives Treasury Yields Lower Bitcoin - Sees More Green as Swift Gets in on the Blockchain Act The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Key stats included December industrial production figures out of Japan, December private sector credit numbers out of Australia and January private sector PMI numbers out of China. For the Aussie Dollar , private sector credit rose by 0.2% in December, month-on-month, coming up short of a forecasted and November 0.3% increase. The Day Ahead: For the EUR , it's a busy day ahead, with key stats scheduled for release including retail sales and unemployment figures out of Germany, prelim January inflation numbers out of France and Spain. | Key stats included December industrial production figures out of Japan, December private sector credit numbers out of Australia and January private sector PMI numbers out of China. The Aussie Dollar moved from $0.72591 to $0.72490 upon release of the figures, which came ahead of the private sector PMI numbers out of China. The Day Ahead: For the EUR , it's a busy day ahead, with key stats scheduled for release including retail sales and unemployment figures out of Germany, prelim January inflation numbers out of France and Spain. | On the plus side, business sector credit picked up, rising by 4.8% compared with 3.1% in November. At the time of writing, the Pound was up 0.02% to $1.3119, with the markets holding onto hope that Britain will not walk out of the EU with no deal in hand. The Loonie was up 0.08% to C$1.3138, against the U.S Dollar, at the time of writing, supported by a continued rise in crude oil prices and the softer Greenback. | a67d9b86-5c1a-4822-86f1-13b7417d05a2 |
709304.0 | 2019-01-29 00:00:00 UTC | 4th Quarter GDP Numbers and the FED Put the Dollar in the Spotlight | DBO | https://www.nasdaq.com/articles/4th-quarter-gdp-numbers-and-fed-put-dollar-spotlight-2019-01-29 | nan | nan | Earlier in the Day:
Economic data released through the Asian session includes December retail sales figures out of Japan and 4 th quarter inflation numbers out of Australia.
For the Japanese Yen , retail sales rose by 1.3% year-on-year in December, following on from a 1.4% rise in November, and coming in ahead of a forecasted 0.9% rise.
The Japanese Yen moved from ¥109.401 to ¥109.402 against the Dollar upon release of the figures, before rising to ¥109.34 at the time of writing, up 0.05% for the session.
For the Aussie Dollar , consumer prices rose by 1.8% in the 4 th quarter, year-on-year, with the rate of inflation easing marginally from the 3 rd quarter 1.9%, whilst coming in ahead of a forecasted 1.7%.
According to figures released by the ABS, the consumer price index rose by 0.5% in the December quarter of 2018, picking up from a forecasted and 0.4% rise in the 3 rd quarter.
The largest contribution came from a 9.45 rise in prices for tobacco, a 6.2% rise in prices for domestic holiday travel and a 5% rise in prices for fruit.
Dragging on inflation included a 2.5% fall in prices for automotive fuel, a 3.3% fall in prices for audiovisual and computer equipment, a 1.9% fall in prices for wine and a 1.5% fall in prices for telecom equipment and services.
There was significant volatility in the prices for automotive fuel, which had risen by 3.3% in October, before sliding by 10.8% in November and then by the 5 th in December to end the quarter down by 2.5%.
The Aussie Dollar moved from $0.71518 to $0.71811 upon release of the figures, before rising to $0.7193 at the time of writing, a gain of 0.53% for the session.
Elsewhere, the Kiwi Dollar was up by 0.13% to $0.6843, the gains coming in spite of a bearish start to the day in the equity markets.
The Day Ahead:
For the EUR , economic data scheduled for release through the day include French 1 st estimate GDP numbers for the 4 th quarter and December consumer spending figures and German's January inflation numbers and February consumer confidence numbers.
On the stats, we will expect France's GDP numbers and consumer confidence figures out of Germany to have the greatest influence, which is forecasted to be EUR negative.
Outside the stats, it's a big day for the global financial markets, with the U.S - China trade talks set to resume and the FED to deliver its first monetary policy decision of the year.
Added to sentiment through the day will be the market response to the Brexit Plan B Parliamentary vote.
At the time of writing, the EUR was up 0.05% to $1.1439.
For the Pound , a quiet day on the economic calendar continues to leave the Pound in the hands of Brexit chatter.
Tuesday's Parliamentary vote gives the British PM another journey to Brussels in order to make amendments to the Irish backstop, which has been the Brexit bugbear since negotiations began. The Pound took a hit, giving up $1.31 levels in reaction to the vote, though whether Britain will leave without a deal remains to be seen. Assuming the EU doesn't budge on the Irish backstop, an extension, and a possible 2 nd referendum could be on the cards.
At the time of writing, the Pound was up 0.21% to $1.3094, with the markets continuing to respond to the Parliamentary vote, early support coming on the expectation that a no-deal scenario is not an option for Parliament.
Across the Pond , it's a busy day ahead for the Dollar. On the data front, key stats scheduled for release include January ADP nonfarm employment change figures, 1 st estimate GDP numbers for the 4 th quarter and December pending home sales.
Outside of the numbers, a resumption of trade talks between the U.S and China could provide further direction should updates be forthcoming, with the FED's first monetary policy decision of the year also in focus.
The uncertainty will be whether there will be sufficient progress on trade talks to support market risk appetite through the week. Of greater certainty, but far from assured, is that the FED will continue drumming the more dovish drum beat. Softer growth in the 4 th quarter would most likely give the doves the upper hand at the start of the year.
At the time of writing, the Dollar Spot Index was down 0.06% to 95.767.
For the Loonie , yet another quiet day on the data front will leave the Loonie in the hands of market risk sentiment and, in particular, any updates from the heavily anticipated trade talks between the U.S and China.
Positive updates would provide support to crude oil prices , which would be Loonie positive though, with many differences to be ironed out, there's unlikely to be an agreed way forward within the 1 st day of talks.
The Loonie was up 0.05% to C$1.3263, against the U.S Dollar, at the time of writing, supported by Tuesday's bounce in crude oil prices .
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session includes December retail sales figures out of Japan and 4 th quarter inflation numbers out of Australia. Outside the stats, it's a big day for the global financial markets, with the U.S - China trade talks set to resume and the FED to deliver its first monetary policy decision of the year. On the data front, key stats scheduled for release include January ADP nonfarm employment change figures, 1 st estimate GDP numbers for the 4 th quarter and December pending home sales. | Earlier in the Day: Economic data released through the Asian session includes December retail sales figures out of Japan and 4 th quarter inflation numbers out of Australia. The Day Ahead: For the EUR , economic data scheduled for release through the day include French 1 st estimate GDP numbers for the 4 th quarter and December consumer spending figures and German's January inflation numbers and February consumer confidence numbers. This article was originally posted on FX Empire More From FXEMPIRE: USD/JPY Price Forecast - US dollar gain slightly against Japanese yen Silver Price Forecast - Silver markets continue to grind higher GBP/USD Price Forecast - British Pound Dragged Down To 1.30 Handle On Brexit Chaos The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Dragging on inflation included a 2.5% fall in prices for automotive fuel, a 3.3% fall in prices for audiovisual and computer equipment, a 1.9% fall in prices for wine and a 1.5% fall in prices for telecom equipment and services. The Day Ahead: For the EUR , economic data scheduled for release through the day include French 1 st estimate GDP numbers for the 4 th quarter and December consumer spending figures and German's January inflation numbers and February consumer confidence numbers. This article was originally posted on FX Empire More From FXEMPIRE: USD/JPY Price Forecast - US dollar gain slightly against Japanese yen Silver Price Forecast - Silver markets continue to grind higher GBP/USD Price Forecast - British Pound Dragged Down To 1.30 Handle On Brexit Chaos The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | According to figures released by the ABS, the consumer price index rose by 0.5% in the December quarter of 2018, picking up from a forecasted and 0.4% rise in the 3 rd quarter. The Aussie Dollar moved from $0.71518 to $0.71811 upon release of the figures, before rising to $0.7193 at the time of writing, a gain of 0.53% for the session. For the Loonie , yet another quiet day on the data front will leave the Loonie in the hands of market risk sentiment and, in particular, any updates from the heavily anticipated trade talks between the U.S and China. | bbbbd212-2b2c-46ea-b8d3-e1ce4e9aed4e |
709305.0 | 2019-01-27 00:00:00 UTC | Brexit, Draghi and the Oval Office to Drive the GBP, EUR and Dollar | DBO | https://www.nasdaq.com/articles/brexit-draghi-and-oval-office-drive-gbp-eur-and-dollar-2019-01-27 | nan | nan | Earlier in the Day:
There were no material stats released through the Asian session this morning, with the BoJ's monetary policy meeting minutes from the December meet the only release on the economic calendar for the markets to respond to.
Outside of the numbers however, there was plenty to consider, with the end to the U.S government shutdown, an anticipated resumption of trade talks between the U.S and China, the UK's parliamentary vote on Brexit Plan B and Wednesday's FED policy decision and rate statement there to consider.
For the Japanese Yen , the monetary policy meeting minutes provided few surprises, with the minutes considered dated following the BoJ's revision to growth and inflation forecasts in the January meet.
The Japanese Yen moved from ¥109.414 to ¥109.418 against the U.S Dollar, upon the release of the minutes, before easing to ¥109.42 at the time of writing, up by 0.12% for the session. Early support came in spite of optimism across the broader market, a weaker Dollar providing strength early on.
While the Aussie markets were closed in recognition of Australian Day, there was early support for both the Aussie Dollar and Kiwi Dollar. Hopes of a resolution to the extended U.S - China trade war and expectations of a more dovish FED on Wednesday provided support early on. At the time of writing, the Aussie Dollar was up 0.2% to $0.7193, with the Kiwi Dollar up 0.16% to $0.6850.
For the Aussie Dollar, it's a busy week ahead though, so we can expect volatility to pick up as the week progresses, the markets seemingly brushing aside last week's mortgage rate hike by NAB that raised the possibility of a near-term rate cut by the RBA to limit the impact on bulging household debt.
In the equity markets, it was a mixed bag, the Nikkei feeling pressure from the stronger Japanese Yen, down by 0.20%, while Hang Seng and CSI300 kicked off the week in the green, the pair up by 0.66% and by 1.02% respectively.
The Day Ahead:
For the EUR , it's a quiet day ahead, with no material stats scheduled for release. While there are no stats, ECB President Draghi is scheduled to speak through the day, which could pin back the EUR should there be any chatter on the economic outlook and monetary policy
Adding to the direction through the day will be sentiment towards the Wednesday's FED policy decision and tone of the rate statement and U.S - China trade talks that will resume mid-week. Risk on should provide some support from the EUR, though Draghi could undo any gains with ease should he choose to…
At the time of writing, the EUR was up 0.07% to $1.1414, with Draghi and risk sentiment the key drivers through the day.
For the Pound , there are.no material stats scheduled for release through the day, leaving Brexit, Plan B and tomorrow's Parliamentary vote as the key drivers. The vote may ultimately be a non-event, the bigger issue being whether the markets see the government being able to renegotiate an acceptable deal should an extension be the chosen path.
With the backstop remaining a stumbling block and Ireland stating that it would not yield, the British PM will have her work cut ahead of tomorrow's vote.
We could even end up back in a no-deal scenario, which should raise the question of whether a 2 nd referendum would be appropriate in the interest of Britain and its voters.
At the time of writing, the Pound was down by 0.01% to $1.3195, with updates on Brexit the key driver through the day.
Across the Pond , there are no material stats scheduled for release through the day, with a lack of material stats likely to leave the markets to focus on the Chicago FED National Activity Index and Dallas FED Manufacturing Index figures due out later today.
Outside the numbers, expect the Oval Office to be front and centre, with the outlook towards Wednesday's FOMC policy decision and rate statement likely to pin back the Dollar early on in the week.
At the time of writing, the Dollar Spot Index was down 0.06% to 95.732.
For the Loonie , it's a quiet day on theeconomic calendar leaving market risk sentiment, driven by expectations of a resolution to the extended U.S - China trade war, to provide direction early on in the week, though expect some influence from crude oil prices .
The Loonie was up 0.01% to C$1.3217, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In the equity markets, it was a mixed bag, the Nikkei feeling pressure from the stronger Japanese Yen, down by 0.20%, while Hang Seng and CSI300 kicked off the week in the green, the pair up by 0.66% and by 1.02% respectively. For the Pound , there are.no material stats scheduled for release through the day, leaving Brexit, Plan B and tomorrow's Parliamentary vote as the key drivers. Outside the numbers, expect the Oval Office to be front and centre, with the outlook towards Wednesday's FOMC policy decision and rate statement likely to pin back the Dollar early on in the week. | For the Pound , there are.no material stats scheduled for release through the day, leaving Brexit, Plan B and tomorrow's Parliamentary vote as the key drivers. For the Loonie , it's a quiet day on theeconomic calendar leaving market risk sentiment, driven by expectations of a resolution to the extended U.S - China trade war, to provide direction early on in the week, though expect some influence from crude oil prices . This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Forex Technical Analysis - January 28, 2019 Forecast Gold Price Futures (GC) Technical Analysis - January 28, 2019 Forecast GBPUSD Price Forecast - Consolidative Action To Continue Ahead of Tomorrow's Parliament Vote The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | While there are no stats, ECB President Draghi is scheduled to speak through the day, which could pin back the EUR should there be any chatter on the economic outlook and monetary policy Adding to the direction through the day will be sentiment towards the Wednesday's FED policy decision and tone of the rate statement and U.S - China trade talks that will resume mid-week. For the Loonie , it's a quiet day on theeconomic calendar leaving market risk sentiment, driven by expectations of a resolution to the extended U.S - China trade war, to provide direction early on in the week, though expect some influence from crude oil prices . This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Forex Technical Analysis - January 28, 2019 Forecast Gold Price Futures (GC) Technical Analysis - January 28, 2019 Forecast GBPUSD Price Forecast - Consolidative Action To Continue Ahead of Tomorrow's Parliament Vote The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Japanese Yen moved from ¥109.414 to ¥109.418 against the U.S Dollar, upon the release of the minutes, before easing to ¥109.42 at the time of writing, up by 0.12% for the session. The Day Ahead: For the EUR , it's a quiet day ahead, with no material stats scheduled for release. For the Loonie , it's a quiet day on theeconomic calendar leaving market risk sentiment, driven by expectations of a resolution to the extended U.S - China trade war, to provide direction early on in the week, though expect some influence from crude oil prices . | 6f46453e-75f7-4549-bb59-8f31759d1632 |
709306.0 | 2019-01-24 00:00:00 UTC | The Aussie and the EURO Hit the Brakes as the Pound Makes Its Move | DBO | https://www.nasdaq.com/articles/the-aussie-and-the-euro-hit-the-brakes-as-the-pound-makes-its-move-2019-01-24 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was limited to January inflation numbers out of Japan.
For the Japanese Yen , core consumer prices in the Ku-area of Tokyo rose by 1.1% in January, coming in ahead of a forecasted and December 0.9%, according to prelim figures.
A fall in prices for furniture and household utensils (-0.4%) and transportation and communication (-0.6%) continued to drag in January, while the rate of decline eased from the previous month.
Providing support for the pickup in inflationary pressure was a 7.1% jump in prices for fuel, light and water charges, a 2.3% rise in prices for culture and recreation and a 1.2% rise in prices for medical care.
Prices for clothes and footwear rose by 0.9%, picking up from a 0.4% rise in December.
Prices for goods fell by 0.2% year-on-year, while prices for services rose by 0.9%, the slide in goods largely attributed to a 1.7% slide in prices for food that are excluded from the core figures. (Tokyo consumer prices rose by just 0.4% in January, year-on-year).
Month-on-month, core consumer prices for the Ku-area rose by 0.2%
The Japanese Yen moved from ¥109.544 to ¥109.549 against the U.S Dollar, upon the release of the numbers, before easing to ¥109.72 at the time of writing, down of 0.07% for the session.
While there were no stats out of Australia, the Aussie Dollar remained under pressure, down 0.2% to $0.7080. Thursday's employment numbers were of little consolation as the markets continue to respond to the NAB's announcement of a hike to its standard variable mortgage rate for owner-occupiers. With ballooning household debt and tepid wage growth, the latest move has raised expectations of an RBA rate cut to counter the impact on consumers.
Elsewhere, the Kiwi Dollar was also in the red, down by 0.18% to $0.6751 at the time of writing, with pressure coming off the back of concerns over economic growth following this week's downgrades and a string of weak stats.
The Day Ahead:
For the EUR , it's a quieter day on the data front, with key stats scheduled for release limited to business sentiment figures out of Germany.
Following the IMF's growth forecast downgrades early on the in the week, which included downgrades to Germany's growth forecasts, the German government downgraded its growth forecast for 2019 to 1%, down from the previous quarter's 1.8% forecast.
With ECB President Draghi also taking a more dovish outlook on growth, we can expect the EUR to be more sensitive than normal to today's figures, particularly in the wake of the prelim manufacturing PMI numbers out of Germany on Thursday, which reported a contraction in the sector. Forecasts are EUR negative, with optimism across the private sector coming in at the 2 nd lowest seen in the past 4-years, according to the prelim PMI report released on Thursday.
At the time of writing, the EUR was up 0.04% to $1.1308, with today's stats and risk sentiment the key drivers through the day.
For the Pound , economic data is limited to mortgage approval figures that are unlikely to have a material bearing through the day. Focus will remain on Brexit chatter and, with the chances of a no-deal departure diminishing further, the upward momentum remains ahead of next week's plan B vote.
At the time of writing, the Pound was up 0.28% to $1.3103, with updates on Brexit the key driver through the day.
Across the Pond , economic data scheduled for release includes durable goods orders and new home sales, with both sets of numbers likely to have an impact on the Dollar, new home sales expected to garner more attention following the slide in existing home sales in December.
Outside of the numbers, chatter from the Oval Office and Capitol Hill will continue to influence, the government shutdown seeing no end following the Thursday vote.
At the time of writing, the Dollar Spot Index was down 0.09% to 96.513.
For the Loonie , it's another quiet day on the economic data front, leaving the Loonie back in the hands of market risk appetite and the direction of crude oil prices through the day.
While we can expect today's rig count figures out of the U.S to provide direction, concerns over growth and ultimately demand on crude will likely overshadow the effects of any fall in rig counts.
The Loonie was down 0.03% to C$1.3354 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Month-on-month, core consumer prices for the Ku-area rose by 0.2% The Japanese Yen moved from ¥109.544 to ¥109.549 against the U.S Dollar, upon the release of the numbers, before easing to ¥109.72 at the time of writing, down of 0.07% for the session. Elsewhere, the Kiwi Dollar was also in the red, down by 0.18% to $0.6751 at the time of writing, with pressure coming off the back of concerns over economic growth following this week's downgrades and a string of weak stats. With ECB President Draghi also taking a more dovish outlook on growth, we can expect the EUR to be more sensitive than normal to today's figures, particularly in the wake of the prelim manufacturing PMI numbers out of Germany on Thursday, which reported a contraction in the sector. | For the Japanese Yen , core consumer prices in the Ku-area of Tokyo rose by 1.1% in January, coming in ahead of a forecasted and December 0.9%, according to prelim figures. The Day Ahead: For the EUR , it's a quieter day on the data front, with key stats scheduled for release limited to business sentiment figures out of Germany. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Prediction - Prices Trade Sideways as Dovish ECB Offset Strong Jobless Claims GBP/JPY Price Forecast - British pound pulls back slightly on Thursday GBP/USD Price Forecast - British pound pulls back The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Prices for goods fell by 0.2% year-on-year, while prices for services rose by 0.9%, the slide in goods largely attributed to a 1.7% slide in prices for food that are excluded from the core figures. Month-on-month, core consumer prices for the Ku-area rose by 0.2% The Japanese Yen moved from ¥109.544 to ¥109.549 against the U.S Dollar, upon the release of the numbers, before easing to ¥109.72 at the time of writing, down of 0.07% for the session. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Prediction - Prices Trade Sideways as Dovish ECB Offset Strong Jobless Claims GBP/JPY Price Forecast - British pound pulls back slightly on Thursday GBP/USD Price Forecast - British pound pulls back The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Japanese Yen , core consumer prices in the Ku-area of Tokyo rose by 1.1% in January, coming in ahead of a forecasted and December 0.9%, according to prelim figures. Month-on-month, core consumer prices for the Ku-area rose by 0.2% The Japanese Yen moved from ¥109.544 to ¥109.549 against the U.S Dollar, upon the release of the numbers, before easing to ¥109.72 at the time of writing, down of 0.07% for the session. At the time of writing, the EUR was up 0.04% to $1.1308, with today's stats and risk sentiment the key drivers through the day. | bcbc592e-ea7d-4017-b6a0-d1b0f82c4e7d |
709307.0 | 2019-01-23 00:00:00 UTC | The Aussie Gets a Boost Early as Focus Shifts to the EUR and the ECB | DBO | https://www.nasdaq.com/articles/aussie-gets-boost-early-focus-shifts-eur-and-ecb-2019-01-23 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning included December employment figures out of Australia and prelim manufacturing PMI numbers out of Japan.
For the Aussie Dollar , according to figures released by the ABS,
The number of employed rose by 21.6k in December, coming in ahead of a forecasted 16.5k increase, following November's 37.0k rise.
Full employment fell by 3.0k in the month, following a 6.4k decrease in November.
The unemployment rate eased back from a November and forecasted 5.1% to 5.0% in December, with the participation rate falling from 65.7% to 65.6%, contributing to the fall in the unemployment rate.
Part-time employment increased by 24.6k, following on from a 43.4k increase in November.
Year-on-year, full-time employment has increased by 162k, while part-time employment has risen by just 106.6k.
The Aussie Dollar moved from $0.71431 to $0.71584 upon release of the figures, before rising to $0.7163 at the time of writing, a gain of 0.29% for the session.
For the Japanese Yen , the prelim manufacturing PMI fell from 52.6 to 50.0 in January.
The stagnation in January ended the longest expansionary run in over a decade.
Exports fell at the strongest pace in two-and-a-half years.
Production scaled back for the first time since July 2016.
Confidence hit the lowest level in over 6-years.
The Japanese Yen moved from ¥109.575 to ¥109.630 against the U.S Dollar, upon the release of the numbers, before recovering to ¥109.54 at the time of writing, a gain of 0.05% for the session.
Elsewhere, the Kiwi Dollar was up 0.16% to $0.6799, with risk sentiment providing support through the early part of the day, the markets brushing aside yet another set of weak economic stats out of Asia.
The Day Ahead:
For the EUR , it's a busy day ahead, with key stats scheduled for release including prelim January private sector PMI numbers, which are scheduled for release ahead of the ECB's first monetary policy decision of the year.
Following dovish commentary from ECB President Draghi in recent weeks and a downgrade to growth by the IMF for the region, the EUR will likely be particularly sensitive to today's figures.
Outside of the numbers, the ECB's first monetary policy decision of the year is due. Focus will be on the press conference, where the markets will be looking for any guidance on interest and deposit rates. The PMI numbers that precede the policy decision could provide some optimism, though the figures will need to be better than forecasted.
Following a string of weak numbers out of China and the region, whether the Eurozone can bounce back from a weaker end to 2018 remains to be seen.
At the time of writing, the EUR was up 0.07% to $1.1389, with today's stats and the ECB the key drivers in through the day.
For the Pound , there are no material stats scheduled for release through the day, leaving the Pound in the hands of Brexit chatter.
The general consensus is that Britain's departure from the EU will be delayed and that the chances of a no deal departure are on the decline. With the Pound having rallied through to $1.30 levels through Wednesday, the next target will be $1.32 for the bulls, though much will depend on chatter from both parliament and the EU.
Any hints of an unwillingness to agree to an extension and the Pound could face selling pressure later in the day.
At the time of writing, the Pound was up 0.02% to $1.3088, with updates on Brexit the key driver through the day.
Across the Pond , economic data scheduled for release includes prelim private sector PMI numbers for January, along with the weekly initial jobless claims numbers.
A failure to iron out differences with China on trade will leave the Dollar relatively sensitive to the manufacturing PMI, while it will ultimately boil down to service sector numbers on the day. We can expect the initial jobless claims figures to be largely brushed aside barring a material jump from the previous week.
Outside of the numbers, chatter from the Oval Office and Capitol Hill will also influence, the government shutdown and any further clarifications on contradictory statements on trade talks with China there to consider through the day.
At the time of writing, the Dollar Spot Index was down 0.06% to 96.063.
For the Loonie , it's a quiet day on the economic data front, leaving the Loonie back in the hands of market risk appetite and the direction of crude oil prices through the day.
Economic data out of Canada this week has failed to impress, which should keep the Loonie on the back foot barring a jump in crude oil prices that could come from, either talk further production cuts or a resolution to trade talks between the U.S and China. A threat of sanctions on Venezuela eased some of the pain for crude oil overnight.
Today's weekly EIA numbers out of the U.S will be in focus, as will updates from the U.S administration on trade and the government shutdown.
The Loonie was up 0.10% to C$1.3330 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning included December employment figures out of Australia and prelim manufacturing PMI numbers out of Japan. A failure to iron out differences with China on trade will leave the Dollar relatively sensitive to the manufacturing PMI, while it will ultimately boil down to service sector numbers on the day. Outside of the numbers, chatter from the Oval Office and Capitol Hill will also influence, the government shutdown and any further clarifications on contradictory statements on trade talks with China there to consider through the day. | Earlier in the Day: Economic data released through the Asian session this morning included December employment figures out of Australia and prelim manufacturing PMI numbers out of Japan. The Day Ahead: For the EUR , it's a busy day ahead, with key stats scheduled for release including prelim January private sector PMI numbers, which are scheduled for release ahead of the ECB's first monetary policy decision of the year. Across the Pond , economic data scheduled for release includes prelim private sector PMI numbers for January, along with the weekly initial jobless claims numbers. | Earlier in the Day: Economic data released through the Asian session this morning included December employment figures out of Australia and prelim manufacturing PMI numbers out of Japan. The Day Ahead: For the EUR , it's a busy day ahead, with key stats scheduled for release including prelim January private sector PMI numbers, which are scheduled for release ahead of the ECB's first monetary policy decision of the year. Across the Pond , economic data scheduled for release includes prelim private sector PMI numbers for January, along with the weekly initial jobless claims numbers. | At the time of writing, the EUR was up 0.07% to $1.1389, with today's stats and the ECB the key drivers in through the day. For the Loonie , it's a quiet day on the economic data front, leaving the Loonie back in the hands of market risk appetite and the direction of crude oil prices through the day. Economic data out of Canada this week has failed to impress, which should keep the Loonie on the back foot barring a jump in crude oil prices that could come from, either talk further production cuts or a resolution to trade talks between the U.S and China. | c72db74f-a68b-4ebb-a0c7-fdc442cff4b1 |
709308.0 | 2019-01-22 00:00:00 UTC | Trade Data out of Japan Delivers Another Red Light on Growth | DBO | https://www.nasdaq.com/articles/trade-data-out-japan-delivers-another-red-light-growth-2019-01-22 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning included 4 th quarter inflation numbers out of New Zealand and December trade data out of Japan. Outside of the numbers, the Bank of Japan delivered its first monetary policy decision of the year. Later on in the morning, BoJ Kuroda will also be delivering the BoJ's press conference.
For the Kiwi Dollar , inflation rose by 1.9% in the 4 th quarter, year-on-year, coming in ahead of a forecasted 1.8%, whilst in line with the 3 rd quarter's 1.9%. Quarter-on-quarter, consumer prices rose by 0.1%, coming in ahead of a forecasted stall, while down from the 3 rd quarter's 0.9%, according to figures released by NZ Stats.
The average price for petrol fell by 0.6%, quarter-on-quarter, which was the first quarterly fall since Sept-17.
Prices for cigarettes and tobacco fell for the first time since Dec-09, down by 1.3%, the fall coming ahead of a 10% increase in excise tax on 1 st
Contributing to the 0.1% rise was seasonal rises in international airfares, which offset a seasonal fall in prices for vegetables.
Prices for telecom services rose by 1%, with prices for games, toys and hobbies also on the rise in the quarter.
The Kiwi Dollar moved from $0.67202 to $0.67504 upon release of the figures, before rising to $0.6769 at the time of writing, up 0.27% for the session.
For the Japanese Yen , the trade deficit narrowed from ¥738bn to ¥55bn in December.
Exports fell by 3.8%, which was greater than a forecasted 1.9% decline, following a 0.1% rise in November and the largest fall since 2016.
Imports rose by 1.9%, coming up short of a forecasted 3.7% and well below a 12.5% jump in November.
Exports to China slumped by 7%, with total exports to Asia sliding by 6.9%, reflecting the effects of the ongoing U.S - China trade war.
Exports to the U.S rose by 1.6%, while imports from the U.S jumped by 23.9%, the narrowing trend in Japan's surplus with the U.S coming off the back of the threat of tariffs on Japanese goods.
The Japanese Yen moved from ¥109.345 to $109.385 against the Dollar, upon release of the figures that came ahead of the BoJ's policy decision.
The Bank of Japan held rates unchanged at -0.1%, which was in line with expectations, while cutting its outlook on inflation once more. The cut in the Bank's inflation forecast, reported in the quarterly outlook report, was the BoJ's 4 th cut in a row
The Japanese Yen moved from ¥109.635 to ¥109.740 upon the release of the statement, outlook report and decision, before recovering to ¥109.67 at the time of writing, a loss of 0.27% for the session.
Elsewhere, the Aussie Dollar was up 0.20% to $0.7138, a recovery across the equity markets and a rise in commodity price providing support early on, the gains coming in spite of yet more weak economic data coming out of the region.
The Day Ahead:
For the EUR , it's a quiet day ahead on the data front, leaving the markets to consider tomorrow's ECB policy decision and the all-important Draghi press conference. Ahead of the policy decision will be prelim January private sector PMI numbers that will likely garner plenty of attention on Thursday morning.
The IMF and Bank of Italy have certainly given Draghi a reason to tow the dovish line, but how dovish remains to be seen as the Central Bank looks to ease off on the stimulus front.
At the time of writing, the EUR was up 0.05% to $1.1366, with market risk appetite and any chatter from the Oval Office to also influence through the day.
For the Pound , economic data is limited to January's CBI Industrial Trend Orders, which will provide the Pound with direction upon release, while the fate of the Pound continues to sit in the hands of Brexit. As the markets begin to see the prospects of a no deal Brexit diminish, the Pound will continue to see upward momentum, particularly if the stats are on the positive side.
At the time of writing, the Pound was down 0.02% to $1.2951, with today's stats and updates on Brexit the key drivers through the day.
Across the Pond , there are no material stats scheduled for release through the day, leaving the Dollar in the hands of Capitol Hill and the Oval Office.
Mixed reports over progress on trade talks between the U.S and China and rumours of the end of January meeting being cancelled will be a test for the markets later in the day.
To add to the Dollar's troubles is the ongoing government shutdown, with updates likely to be hitting the news wires through the day.
At the time of writing, the Dollar Spot Index was up 0.01% to 96.317.
For the Loonie , following some disappointing numbers out of Canada on Tuesday, focus shifts to November retail sales figures due out later today. While inflation numbers had provided some much needed support last week, today's stats will need to impress to shift sentiment towards BoC policy. Forecasts are Loonie negative.
Outside of the stats, the direction of crude oil prices will continue to influence, with today's API numbers and further chatter on trade to also impact.
The Loonie was up 0.21% to C$1.3327 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ahead of the policy decision will be prelim January private sector PMI numbers that will likely garner plenty of attention on Thursday morning. Mixed reports over progress on trade talks between the U.S and China and rumours of the end of January meeting being cancelled will be a test for the markets later in the day. This article was originally posted on FX Empire More From FXEMPIRE: Trade Data out of Japan Delivers Another Red Light on Growth DASH Technical Analysis - Resistance Levels in Play -23/01/18 S&P 500 Price Forecast - stock markets pulled back to kick off week The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning included 4 th quarter inflation numbers out of New Zealand and December trade data out of Japan. The cut in the Bank's inflation forecast, reported in the quarterly outlook report, was the BoJ's 4 th cut in a row The Japanese Yen moved from ¥109.635 to ¥109.740 upon the release of the statement, outlook report and decision, before recovering to ¥109.67 at the time of writing, a loss of 0.27% for the session. This article was originally posted on FX Empire More From FXEMPIRE: Trade Data out of Japan Delivers Another Red Light on Growth DASH Technical Analysis - Resistance Levels in Play -23/01/18 S&P 500 Price Forecast - stock markets pulled back to kick off week The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning included 4 th quarter inflation numbers out of New Zealand and December trade data out of Japan. The cut in the Bank's inflation forecast, reported in the quarterly outlook report, was the BoJ's 4 th cut in a row The Japanese Yen moved from ¥109.635 to ¥109.740 upon the release of the statement, outlook report and decision, before recovering to ¥109.67 at the time of writing, a loss of 0.27% for the session. This article was originally posted on FX Empire More From FXEMPIRE: Trade Data out of Japan Delivers Another Red Light on Growth DASH Technical Analysis - Resistance Levels in Play -23/01/18 S&P 500 Price Forecast - stock markets pulled back to kick off week The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The cut in the Bank's inflation forecast, reported in the quarterly outlook report, was the BoJ's 4 th cut in a row The Japanese Yen moved from ¥109.635 to ¥109.740 upon the release of the statement, outlook report and decision, before recovering to ¥109.67 at the time of writing, a loss of 0.27% for the session. The Day Ahead: For the EUR , it's a quiet day ahead on the data front, leaving the markets to consider tomorrow's ECB policy decision and the all-important Draghi press conference. At the time of writing, the Pound was down 0.02% to $1.2951, with today's stats and updates on Brexit the key drivers through the day. | 426e0437-8eab-4d56-9c67-a081d58a724d |
709309.0 | 2019-01-21 00:00:00 UTC | Growth Worries Hit Early, with the GBP and Brexit Still in the Spotlight | DBO | https://www.nasdaq.com/articles/growth-worries-hit-early-with-the-gbp-and-brexit-still-in-the-spotlight-2019-01-21 | nan | nan | Earlier in the Day:
There were no material stats released through the Asian session this morning to provide the markets with direction and, with the U.S markets having been closed on Monday, recent economic data out of the region and direction from the U.S futures influenced early on.
At the time of writing, the Japanese Yen was up 0.23% to ¥109.42 against the U.S Dollar, the gains driven by risk sentiment, as the Asian equity majors follow the U.S futures into the red through the early part of the day.
The Aussie Dollar saw bigger losses early on, down 0.34% to $0.7135 while the Kiwi Dollar was down by just 0.12% to $0.6724.
Following softer growth figures out of China on Monday and out of South Korea this morning, sentiment towards the economic outlook continues to plague the markets. On one side, an end to the trade war would support a pickup in economic activity, with a shift in central bank policy outlooks to the more dovish side also a positive. On the flip side, the slowdown in growth has not been immediate and has been evident for a number of quarters, which suggests that it hasn't just been down to the U.S - China trade war.
In the equity markets, it was red for the majors, with the Hang Seng leading the way down, with a loss of 1% at the time of writing. The CSI300 and ASX200 were not far behind, with losses of 0.87% and 0.65%, with the Nikkei was down by 0.54%.
The Day Ahead:
For the EUR , following a quiet start to the week, on the data front, economic data scheduled for release this morning includes January economic sentiment figures out of Germany and the Eurozone.
Softer than forecasted numbers will likely weigh on the EUR, with the IMF and the Bank of Italy cutting growth forecasts at the start of the week.
On Monday, the IMF cut its global growth forecasts for this year and next, with 2019 growth cut by 0.2% to 3.5% for 2019 and by 0.1% to 3.6% for 2020, the cuts coming off the back of growth forecast cuts that had been made back in October.
While the U.S - China trade war was one of the key contributing factors to the downward revision, weakness in the German auto sector was also highlighted, as was weaker domestic demand in Italy.
At the time of writing, the EUR was up 0.04% to $1.1369, with today's stats, updates on Brexit and chatter from the Oval Office to provide direction.
For the Pound , economic data scheduled for release this morning includes November wage growth and unemployment rate numbers along with December's claimant count. We will expect wage growth and claimant count numbers to have the greatest influence on the data front.
Outside of the stats, Brexit continue to be the Pound's ball and chain, with many likely to have hoped for a clear Brexit blueprint by now.
Monday's Plan B, which was unsurprisingly similar to plan A, when considering the 3 days given to British PM to run back to Brussels, left Theresa May with little wiggle room. The EU is unwilling to renegotiate and Parliament is unwilling to agree to plan A, unlikely to agree to Plan B and most likely would vote against a Plan C, unless it involves a delay to Brexit and a 2 nd referendum.
At the time of writing, the ever resilient Pound was down 0.09% to $1.2881, with today's stats and updates on Brexit the key drivers through the day.
Across the Pond , economic data scheduled for release is on the lighter side, limited to December existing home sales.
While we can expect the Dollar to respond to the numbers, which are forecasted to be Dollar negative, focus will likely remain on Capitol Hill and the ongoing U.S government shutdown, together with any further updates on the U.S - China trade war.
At the time of writing, the Dollar Spot Index was up 0.5% to 96.38.
For the Loonie , economic data scheduled for release out of Canada includes November wholesale sales and manufacturing sales figures. A lack of stats at the start to the week could see the Loonie more sensitive to today's figures, though direction will ultimately continue to come from sentiment towards growth and the direction of crude oil prices through the day.
The Loonie was down 0.15% to C$1.3314 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | At the time of writing, the Japanese Yen was up 0.23% to ¥109.42 against the U.S Dollar, the gains driven by risk sentiment, as the Asian equity majors follow the U.S futures into the red through the early part of the day. While the U.S - China trade war was one of the key contributing factors to the downward revision, weakness in the German auto sector was also highlighted, as was weaker domestic demand in Italy. For the Pound , economic data scheduled for release this morning includes November wage growth and unemployment rate numbers along with December's claimant count. | The Day Ahead: For the EUR , following a quiet start to the week, on the data front, economic data scheduled for release this morning includes January economic sentiment figures out of Germany and the Eurozone. For the Pound , economic data scheduled for release this morning includes November wage growth and unemployment rate numbers along with December's claimant count. This article was originally posted on FX Empire More From FXEMPIRE: USD/JPY Fundamental Daily Forecast - Traders Have to Decide on the More Attractive Safe-Haven Asset AUD/USD and NZD/USD Fundamental Daily Forecast - Weak Global Economic Forecasts Weighing on Aussie, Kiwi Natural Gas Price Futures ( NG ) Technical Analysis - Needs to Hold $3.089 to $3.008 on Weekly Chart to Sustain Rally The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR , following a quiet start to the week, on the data front, economic data scheduled for release this morning includes January economic sentiment figures out of Germany and the Eurozone. On Monday, the IMF cut its global growth forecasts for this year and next, with 2019 growth cut by 0.2% to 3.5% for 2019 and by 0.1% to 3.6% for 2020, the cuts coming off the back of growth forecast cuts that had been made back in October. This article was originally posted on FX Empire More From FXEMPIRE: USD/JPY Fundamental Daily Forecast - Traders Have to Decide on the More Attractive Safe-Haven Asset AUD/USD and NZD/USD Fundamental Daily Forecast - Weak Global Economic Forecasts Weighing on Aussie, Kiwi Natural Gas Price Futures ( NG ) Technical Analysis - Needs to Hold $3.089 to $3.008 on Weekly Chart to Sustain Rally The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: There were no material stats released through the Asian session this morning to provide the markets with direction and, with the U.S markets having been closed on Monday, recent economic data out of the region and direction from the U.S futures influenced early on. The Day Ahead: For the EUR , following a quiet start to the week, on the data front, economic data scheduled for release this morning includes January economic sentiment figures out of Germany and the Eurozone. The Loonie was down 0.15% to C$1.3314 against the U.S Dollar at the time of writing. | 7bee67a1-5f8c-46c7-a0b1-81d4c0fc074c |
709310.0 | 2019-01-20 00:00:00 UTC | Trade Uncertainty and China’s Slow Down Test Resilience Ahead of Brexit Plan B | DBO | https://www.nasdaq.com/articles/trade-uncertainty-and-chinas-slow-down-test-resilience-ahead-brexit-plan-b-2019-01-20 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was on the heavier side, with key stats including 4 th quarter GDP numbers and December fixed asset investment, industrial production and retail sales figures.
Out of China, the economy grew by 6.4% in 2018, which was in line with forecasts, whilst down from the previous quarter's 6.5%. Quarter-on-quarter, the economy grew by 1.5%, which was also in line with forecast, whilst down from the 3 rd quarters 1.6%.
Growth hit its lowest growth rate since 1990 and, with the effects of the ongoing trade war between the U.S and China becoming ever more evident in the numbers, the end of January could be a big day for the markets should Vice Premier He wrap up an agreement with Trump in DC.
Fixed asset investments rose by 5.9% in December, which was at the same pace as in November, while coming up short of a forecasted 6%.
On the positive side, industrial production jumped by 5.7% in December, year-on-year, coming in ahead of a forecasted 5.3% rise and November 5.4% increase. Retail sales also impressed, rising by 9%, which came in well ahead of a forecasted 8.2% rise and November 8.1% increase.
The Aussie Dollar moved from $0.71552 to $0.71655 upon release of the figures, before rising to $0.7167 at the time of writing, down 0.01% for the morning. A pickup in U.S Treasury yields at the end of last week pinned back the Aussie Dollar ahead of the numbers, in spite of hopes of an end to the U.S - China trade war.
The impact of the numbers was telling across the Asian markets, with the Kiwi Dollar also finding support off the back of the numbers, rising from $0.67252 to 0.67371 at the time of writing, down 0.18% for the session. The Japanese Yen gave up some of its early gains against the U.S Dollar, falling from ¥109.515 to ¥109.64 at the time of writing, the Yen up 0.13% for the session.
In the equity markets, there were gains across the majors, following the upside in the U.S markets on Friday and this morning's economic data out of China. At the time of writing, the CSI300 was leading the way, up 0.66%, with the Nikkei, Hang Seng and ASX200 seeing gains of 0.35%, 0.34% and 0.31% respectively.
The Day Ahead:
For the EUR , it's a particularly quiet day ahead, with key stats limited to December wholesale inflation figures scheduled for release out of Germany.
We can expect the numbers to have an immediate impact, forecasts being EUR negative, while direction through the day will ultimately be hinged on market risk appetite, influenced by market reaction to this morning's numbers out of China and hopes of a trade deal.
There will also be Brexit to factor in later today, with all eyes on Parliament later today. The EUR has been relatively insensitive to the trials and tribulations of the British PM but, should a no deal scenario become likely, some fallout could be on the cards.
At the time of writing, the EUR was up 0.13% to $1.1378.
For the Pound , there are no material stats scheduled for release through the day, leaving the Pound in the hands of Theresa May, Brexit Plan B, or lack of and chatter from Parliament.
At the time of writing, the Pound was down 0.10% to $1.2859.
Across the Pond , there are no stats scheduled for release, with the U.S markets closed.
Both the U.S equity and bond markets will be closed, leaving trading across the markets on the lighter side.
At the time of writing, the Dollar Spot Index was down 0.05% to 96.285.
For the Loonie , another quiet start to the week leaves the Loonie in the hands of market risk appetite driving crude oil prices , with this morning's numbers out of China not being as disastrous as some may have thought, allowing the Loonie to cut back its early losses on hopes of a trade agreement.
The Loonie was down 0.04% to C$1.3265 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning was on the heavier side, with key stats including 4 th quarter GDP numbers and December fixed asset investment, industrial production and retail sales figures. Fixed asset investments rose by 5.9% in December, which was at the same pace as in November, while coming up short of a forecasted 6%. On the positive side, industrial production jumped by 5.7% in December, year-on-year, coming in ahead of a forecasted 5.3% rise and November 5.4% increase. | Earlier in the Day: Economic data released through the Asian session this morning was on the heavier side, with key stats including 4 th quarter GDP numbers and December fixed asset investment, industrial production and retail sales figures. The Day Ahead: For the EUR , it's a particularly quiet day ahead, with key stats limited to December wholesale inflation figures scheduled for release out of Germany. For the Loonie , another quiet start to the week leaves the Loonie in the hands of market risk appetite driving crude oil prices , with this morning's numbers out of China not being as disastrous as some may have thought, allowing the Loonie to cut back its early losses on hopes of a trade agreement. | The impact of the numbers was telling across the Asian markets, with the Kiwi Dollar also finding support off the back of the numbers, rising from $0.67252 to 0.67371 at the time of writing, down 0.18% for the session. We can expect the numbers to have an immediate impact, forecasts being EUR negative, while direction through the day will ultimately be hinged on market risk appetite, influenced by market reaction to this morning's numbers out of China and hopes of a trade deal. For the Loonie , another quiet start to the week leaves the Loonie in the hands of market risk appetite driving crude oil prices , with this morning's numbers out of China not being as disastrous as some may have thought, allowing the Loonie to cut back its early losses on hopes of a trade agreement. | Earlier in the Day: Economic data released through the Asian session this morning was on the heavier side, with key stats including 4 th quarter GDP numbers and December fixed asset investment, industrial production and retail sales figures. We can expect the numbers to have an immediate impact, forecasts being EUR negative, while direction through the day will ultimately be hinged on market risk appetite, influenced by market reaction to this morning's numbers out of China and hopes of a trade deal. At the time of writing, the EUR was up 0.13% to $1.1378. | 1f0d435c-67c6-4a92-b9d7-6bd59646b0b7 |
709311.0 | 2019-01-17 00:00:00 UTC | Brexit and Trade Chatter to Keep GBP and USD in Focus | DBO | https://www.nasdaq.com/articles/brexit-and-trade-chatter-keep-gbp-and-usd-focus-2019-01-17 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was on the lighter side, with stats limited to December PMI numbers out of New Zealand and December inflation numbers out of Japan. Later in the session, finalized industrial production numbers for November are due out of Japan that will unlikely have a bearing on the Yen.
For the Kiwi Dollar , the Business PMI rose from 53.5 to 55.1 in December, to hit the highest level of overall activity since April 2018.
The PMI averaged 53.8, slightly ahead of the long-run average of 53.4, whilst well below 56.2 for 2017 and 56.0 for 2016.
Looking at the sub-indexes:
The production sub-index rose from 51.9 to 55.7, with the finished stocks sub-index rising from 55.3 to 58.6.
The Employment sub-index rose from 51.2 to 52.2, with the deliveries sub-index rising from 53.0 to 58.5.
The Kiwi Dollar moved from $0.67617 to $0.67697 upon release of the figures, before easing to $0.6769 at the time of writing, down 0.09% for the session.
For the Japanese Yen , the annual rate of core inflation came in at 0.70% for December, which was worse than a forecasted 0.8% and down on November's 0.9%.
Dragging on core inflation in December was a fall in prices for housing (-0.1%) and transportation & communication (-0.1%).
Prices for fuel, light and water charges continued to provide support, up 5% year-on-year, with prices for medical care up 1.3%.
Prices for culture and recreation came in at 0.9%, which was a touch softer than 1% back in November.
Prices for goods fell by 0.6%, a material shift from a 1.4% rise year-on-year in November, with prices for services stalling, after having risen by 0.3% in November.
The Japanese Yen moved from ¥109.128 to ¥109.097 against the Dollar, upon release of the figures, before falling to ¥109.29 at the time of writing, down 0.03% for the session.
Elsewhere, the Aussie Dollar stood at $0.7201, up 0.11% for the session, with risk appetite being supported by hopes that the U.S administration begins dialing back tariffs in an attempt to draw China into making larger concessions on trade.
The Day Ahead:
For the EUR , there are no material economic stats scheduled for release through the afternoon, leaving the EUR in the hands of market risk appetite and sentiment towards the global economy, disappointing earnings figures out of the U.S being overshadowed by trade chatter as the week comes to an end.
Trade tariff chatter could be a negative factor for the EUR through the day should Trump threaten Brussels with tariffs on autos, the Eurozone economy in no position to absorb the impact of tariffs on already waning demand.
At the time of writing, the EUR was up 0.06% to $1.1396.
For the Pound , economic data scheduled for release through the session includes December core retail sales figures.
While we can expect the numbers to provide immediate direction for the Pound, focus will remain on Brexit and any updates on talks between Britain and the EU.
While Brussels may lack the incentive to offer more favourable terms, in a hope of a new referendum that ends with Britain remaining within the EU, it could back fire should parliament vote any altered deal or even decide to agree to a 'no deal' scenario.
The EU needs Britain as a trading partner and a lack of a trade agreement would be as punitive to the EU as it would be Britain.
At the time of writing, the Pound was up 0.05% to $1.2992, with focus shifting away from Theresa May's second great escape to Brussels.
Across the Pond , economic data is on the lighter side through the day, with key stats limited to December industrial production and prelim January consumer sentiment figures.
While we can expect influence on the Dollar, particularly the consumer sentiment figures, risk sentiment through the day and any trade chatter will also be a factor along with the extended government shutdown.
On the monetary policy front, FOMC member Williams is scheduled to speak, with any dovish commentary now expected from even the more bullish members, which should leave the Dollar largely unresponsive to any dovish chatter.
With the government shutdown heading for a 5 th week, with no end in sight, the effects of the shutdown will begin to have a more significant impact on the U.S economy and quite likely the popularity of the U.S President.
At the time of writing, the Dollar Spot Index was down 0.02% to 96.044.
For the Loonie , after a quite week on the data front, economic data scheduled for release includes December inflation numbers.
Inflation would need to come in better than forecasted, with an uptick in the annual rate of inflation a consideration for the BoC, though it's going to take more than an uptick in inflation to give the BoC a reason to get more hawkish.
Outside of the numbers, the IEA's monthly report and impact on crude oil prices will also have an influence through the day.
The Loonie was up 0.08% to C$1.3269 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Elsewhere, the Aussie Dollar stood at $0.7201, up 0.11% for the session, with risk appetite being supported by hopes that the U.S administration begins dialing back tariffs in an attempt to draw China into making larger concessions on trade. For the Pound , economic data scheduled for release through the session includes December core retail sales figures. Across the Pond , economic data is on the lighter side through the day, with key stats limited to December industrial production and prelim January consumer sentiment figures. | Across the Pond , economic data is on the lighter side through the day, with key stats limited to December industrial production and prelim January consumer sentiment figures. For the Loonie , after a quite week on the data front, economic data scheduled for release includes December inflation numbers. This article was originally posted on FX Empire More From FXEMPIRE: GBP/USD Price Forecast - the British pound continues to reach higher GBP/JPY Price Forecast - British pound finding support against Japanese yen S&P 500 Price Forecast - stock markets run into major resistance The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning was on the lighter side, with stats limited to December PMI numbers out of New Zealand and December inflation numbers out of Japan. The Day Ahead: For the EUR , there are no material economic stats scheduled for release through the afternoon, leaving the EUR in the hands of market risk appetite and sentiment towards the global economy, disappointing earnings figures out of the U.S being overshadowed by trade chatter as the week comes to an end. This article was originally posted on FX Empire More From FXEMPIRE: GBP/USD Price Forecast - the British pound continues to reach higher GBP/JPY Price Forecast - British pound finding support against Japanese yen S&P 500 Price Forecast - stock markets run into major resistance The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Japanese Yen , the annual rate of core inflation came in at 0.70% for December, which was worse than a forecasted 0.8% and down on November's 0.9%. The Day Ahead: For the EUR , there are no material economic stats scheduled for release through the afternoon, leaving the EUR in the hands of market risk appetite and sentiment towards the global economy, disappointing earnings figures out of the U.S being overshadowed by trade chatter as the week comes to an end. For the Loonie , after a quite week on the data front, economic data scheduled for release includes December inflation numbers. | ada9b7eb-943c-4e2a-83a8-50473c3ab5db |
709312.0 | 2019-01-15 00:00:00 UTC | Brexit and a Vote of No Confidence Keep the GBP Front and Center | DBO | https://www.nasdaq.com/articles/brexit-and-vote-no-confidence-keep-gbp-front-and-center-2019-01-15 | nan | nan | Earlier in the Day:
Economic data released through the Asian session was on the heavier side this morning, with key stats including electronic card retail sales figures out of New Zealand, consumer confidence numbers out of Australia and machinery order figures out of Japan.
For the Kiwi Dollar , electronic card retail sales slumped by 2.3% in December, month-on-month, falling beyond a forecasted 0.4% decline, following a revised 0.5% fall in November. According to NZ Stats
Spending fell in four of the six retail sectors. The largest decline was recorded in the durable goods industry, down 4.4% (NZ$58m), followed by the fuel industry, which fell by 8% (NZ$50m).
The slide in durable goods was the largest since October 2010.
Declines were also seen in the sales of clothes and shoes, down 2.1%.
Spending on hospitality was flat, while sales of supermarket food and drink rise by 0.6%.
Core retail spending, excluding vehicle related industries, fell by 1.5%, reversing a 0.3% rise in November.
Quarter-on-quarter, retail card spending was down 0.2% in the 4 th quarter, partially offsetting a 2.1% rise recorded in the 3 rd .
For the quarter, spending rose in four of the six retail sectors, the fuel industry seeing the largest move, down 4.7% (NZ$92m). Offsetting the decline was a 1% (NZ$62m) rise in the sales of food and liquor.
The Kiwi Dollar moved from $0.68161 to $0.68160 upon release of the figures, before easing to $0.6810 at the time of writing, a loss of 0.10% for the session.
For the Aussie Dollar , the Westpac Consumer Sentiment Index fell by 4.7% to 99.6 in January, reversing December's 0.1% rise with interest.
The fall below 100, which reflects pessimists outnumber optimists, was the first since November 2017.
Year-on-year, the Index was down 5.3%.
The decline was attributed to a number of factors, including:
A continued decline in house prices.
Weaker than expected growth numbers.
The ongoing trade war.
Political uncertainty.
Looking at the sub-indexes:
The economic outlook, next 12-months slid by 7.8%, the biggest fall since Sep-15.
The economic outlook, next 5-years fell by 5.9%.
Finances vs a year ago fell by 5.9%, while finances next 12-months fell by 3.1%.
The time to buy a major household item sub-index fell by 1.3%.
On the labour market front, the Unemployment Expectations Index rose by 2.2% to 123.6, pointing to job less fears sitting well below a long run average of 130.
On the housing front, the time to by a dwelling index rose by 4.1% to a 4-year high, while the House Price Expectations Index fell by 4.1% to 95.9, the weakest level since records began back in May-09.
The Aussie Dollar moved from $0.72033 to $0.72011 upon release of the figures, before easing to $0.7192 at the time of writing, down 0.12% for the session, support for the Aussie Dollar coming from moves by the Chinese Government to spur growth.
From an RBA perspective, the consumer sentiment numbers will raise some concern, the weaker housing market and high household debt levels likely to impact domestic consumption near-term.
For the Japanese Yen , November machinery orders rose by 0.8%, year-on-year, coming in ahead of a forecasted 0.4% rise, whilst well below a 4.5% jump in October. Month-on-month, orders stalled, which was far worse than a forecasted 3.1% rise, following a 7.6% increase in October.
The Japanese Yen moved from ¥108.662 to ¥108.616 upon release of the figures. At the time of writing, the Yen stood at ¥108.4 against the Dollar, up 0.26% for the session, support coming risk sentiment turns sour in the early hours.
The Day Ahead:
For the EUR , it's a quiet day ahead, with key stats limited to finalized inflation numbers out of Germany and Italy, which are unlikely to have a material impact on the EUR.
Risk sentiment through the day will provide direction, with Draghi's negative comments on the Eurozone economy pinning back the EUR to sub-$1.14 levels early on in the day.
At the time of writing, the EUR was down 0.12% to $1.1399.
For the Pound , it was a shocker for the British PM on Tuesday, with 432 votes going against the Theresa May Brexit deal, only 202 in favour. The vote against not only reflects sentiment towards Brexit, but also towards the British PM. Opposition party leader Corbyn wasted no time in slating a vote of no confidence, which will take place this evening.
A loss for the Tory party would lead to a General Election and, with the Tories in such disarray, a change of government would be more than likely, which would be considered a near-term negative for the Pound.
On the data front, economic data scheduled for release includes December inflation figures, which will likely be brushed aside, the markets focused on Parliament. BoE Governor Carney may garner some attention in the early part of the day, but even Carney is unlikely to be able to calm the markets through the day.
At the time of writing, the Pound was down by 0.18% to $1.2838, with today's no confidence vote the key driver.
Across the Pond , economic data scheduled for release includes December retail sales and import and export price figures, with retail sales figures being the key driver through the day.
FOMC Members across the board have shifted on the policy front to leave the Dollar on the defensive. Positive numbers could give the Dollar a boost, though may need to be impressive to have a long lasting impact, the Oval Office and the extended government shutdown also there to consider.
At the time of writing, the Dollar Spot Index was down 0.01% to 96.027.
For the Loonie , it's a quiet day on the data front, leaving the Loonie in the hands of crude oil prices and market risk sentiment through the day, an early fall in crude oil prices pinning back the Loonie early on in the day.
The Loonie was down 0.05% to C$1.3272 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | From an RBA perspective, the consumer sentiment numbers will raise some concern, the weaker housing market and high household debt levels likely to impact domestic consumption near-term. Positive numbers could give the Dollar a boost, though may need to be impressive to have a long lasting impact, the Oval Office and the extended government shutdown also there to consider. This article was originally posted on FX Empire More From FXEMPIRE: Commodities Daily Forecast - January 16, 2019 Crude Oil Price Update - $52.14 Key Pivot Before API Report Gold Price Futures (GC) Technical Analysis - Strengthens Over $1289.20, Weakens Under $1285.70 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Japanese Yen , November machinery orders rose by 0.8%, year-on-year, coming in ahead of a forecasted 0.4% rise, whilst well below a 4.5% jump in October. On the data front, economic data scheduled for release includes December inflation figures, which will likely be brushed aside, the markets focused on Parliament. For the Loonie , it's a quiet day on the data front, leaving the Loonie in the hands of crude oil prices and market risk sentiment through the day, an early fall in crude oil prices pinning back the Loonie early on in the day. | Earlier in the Day: Economic data released through the Asian session was on the heavier side this morning, with key stats including electronic card retail sales figures out of New Zealand, consumer confidence numbers out of Australia and machinery order figures out of Japan. Across the Pond , economic data scheduled for release includes December retail sales and import and export price figures, with retail sales figures being the key driver through the day. For the Loonie , it's a quiet day on the data front, leaving the Loonie in the hands of crude oil prices and market risk sentiment through the day, an early fall in crude oil prices pinning back the Loonie early on in the day. | For the Kiwi Dollar , electronic card retail sales slumped by 2.3% in December, month-on-month, falling beyond a forecasted 0.4% decline, following a revised 0.5% fall in November. According to NZ Stats Spending fell in four of the six retail sectors. At the time of writing, the Pound was down by 0.18% to $1.2838, with today's no confidence vote the key driver. | 185ee65c-d6f5-4c7b-9c46-b366a92bd8c6 |
709313.0 | 2019-01-13 00:00:00 UTC | Trade Data out of China Hits the Aussie Dollar and Risk Sentiment | DBO | https://www.nasdaq.com/articles/trade-data-out-china-hits-aussie-dollar-and-risk-sentiment-2019-01-13 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was on the lighter side but certainly not without influence. December trade data released out of China was the set of stats for the day, the ongoing trade war between the U.S and China raising market sensitivity to today's figures.
Volumes were on the lighter side, with the Japan markets closed at the start of the week.
Out of China , the December trade surplus widened from US$44.71bn to US$57.06bn, coming in ahead of a forecasted widening to US$50.73bn.
While the trade surplus widened, it was for all the wrong reasons.
Year-on-year, exports slid by 4.4% in December, coming up short of a forecasted 3% rise, following a 5.4% rise in November.
Imports tumbled by 7.6%, falling well short of a forecasted 5.4% rise, following a 3% rise in November.
Following a string of disappointing manufacturing PMI numbers, the latest set of trade figures are yet another alarm bell for the Chinese economy, which will weigh on risk sentiment through the week.
The Aussie Dollar fell to a morning low $0.71796 upon release of the figures, before rising to $0.7180 at the time of writing, down 0.49% for the session.
Elsewhere, the Japanese Yen was up 0.36% to ¥108.09 against the U.S Dollar, while the Kiwi Dollar was down 0.31% to $0.6811, the Yen likely to be looking at ¥105 levels this week should earnings disappoint.
Following this morning's weaker than anticipated trade data out of China, focus shifts to the first day o f earnings , Citigroup first up later today. Expectations are for disappointment, leaving the Dow Mini down 196 points early on.
The ASX200 saw early upside erode to fall by 0.26% at the time of writing, with the CSI300 and Hang Seng down by 0.81% and 1.66% respectively.
The Day Ahead:
For the EUR , it's a relatively quiet day ahead on the data front. Key stats scheduled for release are limited to November industrial production figures out of the Eurozone. With Germany's November production figure having tumbled, according to figures last week, today's figures are likely to be EUR negative, forecasts pointing to a 1.5% slide, month-on-month.
Outside of the numbers, market risk sentiment will likely have the final say, with earnings season kicking off and chatter from the Oval Office also likely to play a hand through the day.
At the time of writing, the EUR was down 0.02% to $1.467.
For the Pound , it's a quiet day ahead on the data front, but certainly not for the Pound.
Focus will be on Parliament as the week long debate over Theresa May's Brexit deal comes to an end, with a parliamentary vote expected to, not only sink the deal, but possibly bring an end to the Tory party leadership.
While Theresa May's speech later today, which comes ahead of tomorrow's vote, will attempt to garner support, the British PM has almost conceded that a vote against the deal will likely lead to an about turn on Brexit.
Parliament's obligations to British voters will likely lead to a call for a new Referendum should Theresa May fail to get the EU to make further concessions.
Theresa May's 3-day window will come to an end next Monday, if tomorrow's vote goes against her. Parliament would then likely vote on any amended deal. Another vote against will certainly lead to a delay to Britain's 29 th March departure date and could ultimately lead to a cancellation.
For the Pound, the less likely a Brexit outcome, the better for the Pound, though the one curve ball could be a vote of no confidence and a snap general election.
At the time of writing, the Pound was up by 0.01% to $1.2845, with updates from parliament the key driver through the day.
Across the Pond , there are no material stats scheduled to release to trouble the U.S Dollar, leaving the Greenback in the hands of U.S administration and the extended government shutdown and market reaction to the start of earnings season.
At the time of writing, the Dollar Spot Index was down 0.08% to 95.598.
For the Loonie , it's also a quiet day on the data front, with this morning's trade figures out of China weighing early on.
Sentiment towards growth and influence on crude oil prices ahead of this week's OPEC and IEA monthly will be the key driver, an early slide in crude oil prices doing the damage at the start of the week.
The Loonie was down 0.13% to C$1.3284 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Following a string of disappointing manufacturing PMI numbers, the latest set of trade figures are yet another alarm bell for the Chinese economy, which will weigh on risk sentiment through the week. Across the Pond , there are no material stats scheduled to release to trouble the U.S Dollar, leaving the Greenback in the hands of U.S administration and the extended government shutdown and market reaction to the start of earnings season. This article was originally posted on FX Empire More From FXEMPIRE: Trade Data out of China Hits the Aussie Dollar and Risk Sentiment U.S Mortgages - Rates Drop Further, While Applications rebound Bitcoin Cash - ABC, Litecoin and Ripple Daily Analysis - 13/01/19 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | With Germany's November production figure having tumbled, according to figures last week, today's figures are likely to be EUR negative, forecasts pointing to a 1.5% slide, month-on-month. For the Loonie , it's also a quiet day on the data front, with this morning's trade figures out of China weighing early on. Sentiment towards growth and influence on crude oil prices ahead of this week's OPEC and IEA monthly will be the key driver, an early slide in crude oil prices doing the damage at the start of the week. | December trade data released out of China was the set of stats for the day, the ongoing trade war between the U.S and China raising market sensitivity to today's figures. For the Loonie , it's also a quiet day on the data front, with this morning's trade figures out of China weighing early on. This article was originally posted on FX Empire More From FXEMPIRE: Trade Data out of China Hits the Aussie Dollar and Risk Sentiment U.S Mortgages - Rates Drop Further, While Applications rebound Bitcoin Cash - ABC, Litecoin and Ripple Daily Analysis - 13/01/19 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Aussie Dollar fell to a morning low $0.71796 upon release of the figures, before rising to $0.7180 at the time of writing, down 0.49% for the session. While Theresa May's speech later today, which comes ahead of tomorrow's vote, will attempt to garner support, the British PM has almost conceded that a vote against the deal will likely lead to an about turn on Brexit. At the time of writing, the Pound was up by 0.01% to $1.2845, with updates from parliament the key driver through the day. | a31fbdb0-8fca-4a6a-b2ad-3153898ecf3d |
709314.0 | 2019-01-10 00:00:00 UTC | Brexit, U.S Inflation Figures and the Oval Office to Influence the GBP and USD | DBO | https://www.nasdaq.com/articles/brexit-us-inflation-figures-and-oval-office-influence-gbp-and-usd-2019-01-10 | nan | nan | Earlier in the Day:
Economic data released through the Asian session was on the heavier side this morning, with key stats including November building consent figures out of New Zealand, November household spending and current account numbers out of Japan and November retail sales figures out of Australia.
For the Kiwi Dollar , building consents fell by 2% in November, month-on-month, reversing a downwardly revised 1.4% rise in October, according to figures released by NZ Stats.
Year-on-year, new home consents were up 5.3%, with stand-alone houses accounting for almost two-thirds of new homes consented over the year.
On the non-residential side, consents issued exceeded NZ$7bn for the first time on record in the year ended November 2018, while the value of offices and transport buildings consented for the year had the largest fall, down NZ$351m year-on-year.
The Kiwi Dollar moved from $0.67808 to $0.67799 upon release of the figures before rising to $0.6787 at the time of writing, a gain of 0.10% for the session.
For the Japanese Yen , household spending rose by 1.1% in November, month-on-month, to come in ahead of a forecasted 0.2% rise, while down from October's 1.8% rise. Year-on-year, household spending fell by 0.6%, which was worse than a forecasted stall, following October's 0.3% decline.
Spending fell on fuel, light & water charges (-10%); medical care (-5.2%); food (-2.2%); culture & recreation (-2.3%); furniture & household utensils (-1.8%); transportation & communication (-1.6%) and clothing & footwear (-0.9%), all contributing to the year-on-year fall in spending.
Increased spending on housing (+18.6%) and education (+7.5%) offset some of the downside.
According to the figures released, household disposable income rose by 0.3%, with income rising by 0.1%, while the average propensity to consume slid by 1.7%.
Of less influence was Japan's current account figures that were released later in the morning, with the current account surplus narrowing from ¥1.310tn to ¥0.757tn in November, coming in above a forecasted ¥0.568tn.
The Japanese Yen moved from ¥108.332 to ¥108.343 against the U.S Dollar, upon release of the household spending figures, before easing to ¥108.36 at the time of writing, a gains of 0.06% for the session.
For the Aussie Dollar , month-on-month retail sales rose by 0.4% in November, which came in ahead of a forecasted and October 0.3% increase. According to figures released by the ABS:
Household goods retailing led the way, rising by 1.2%, with spending on clothing, footwear and personal accessories up by 1.5%, both set of numbers supported by promotional activity, including Black Friday.
There were also increases in spending in food retailing (+0.2%) and department stores (+0.4%).
Dragging on the headline number were falls in spending on other retailing (-0.1%) and cafes, restaurant and takeaway services retailing (-0.1%).
The Aussie Dollar moved from $0.71925 to $0.71965 upon release of the figures before easing back to $0.7192 at the time of writing, a gain of 0.1% for the session.
The Day Ahead:
For the EUR , it's another quiet day on the data front, leaving the EUR in the hands of market risk sentiment and further reaction to the release of the FED and ECB monetary policy meeting minutes, the economic outlook for the Eurozone looking somewhat murkier than that of the U.S, suggesting a cap on the upside in spite of the pressure on the Dollar amidst the ongoing government shutdown.
At the time of writing, the EUR was up 0.10% to $1.1511, with market risk sentiment to provide direction through the day.
For the Pound , it's a particularly busy day ahead. On the data front, key stats scheduled for release later this morning include November industrial and manufacturing production, trade figures and GDP numbers, which are released ahead of the NIESR Monthly GDP Tracker later in the day.
While focus will be on the manufacturing production and GDP numbers on the data front, direction through the day will ultimately be hinged on chatter from Parliament, as MPs edge closer to next week's Brexit deal vote. With the British PM under ever increasing pressure, expectations are for the deal to be rejected and for Theresa May to have just 3-days to scamper back to Brussels in a bid to deliver a better deal.
Interestingly, the EU will lack any incentive to provide Theresa May with any lifeline, a failure to garner more favourable terms likely to raise the chances of a 2 nd referendum that could ultimately leave Britain within the EU.
At the time of writing, the Pound was up by 0.02% to $1.2750, with updates from parliament the key driver through the day.
Across the Pond , economic data is limited to December inflation figures out of the U.S that will provide some direction for the Dollar, forecasts being Dollar neutral.
Following a recent shift in forward guidance by the FED, the Dollar will likely be particularly sensitive to any weaker than forecasted numbers.
Outside of the stats, the ongoing government shutdown and general sentiment towards the U.S and global economic outlook will also provide direction.
At the time of writing, the Dollar Spot Index was down 0.10% to 95.444.
For the Loonie , there are no material stats scheduled for release, leaving the Loonie firmly in the hands of crude oil prices through the day.
The Loonie was up 0.03% to C$1.3232 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Kiwi Dollar , building consents fell by 2% in November, month-on-month, reversing a downwardly revised 1.4% rise in October, according to figures released by NZ Stats. According to figures released by the ABS: Household goods retailing led the way, rising by 1.2%, with spending on clothing, footwear and personal accessories up by 1.5%, both set of numbers supported by promotional activity, including Black Friday. While focus will be on the manufacturing production and GDP numbers on the data front, direction through the day will ultimately be hinged on chatter from Parliament, as MPs edge closer to next week's Brexit deal vote. | Earlier in the Day: Economic data released through the Asian session was on the heavier side this morning, with key stats including November building consent figures out of New Zealand, November household spending and current account numbers out of Japan and November retail sales figures out of Australia. For the Japanese Yen , household spending rose by 1.1% in November, month-on-month, to come in ahead of a forecasted 0.2% rise, while down from October's 1.8% rise. On the data front, key stats scheduled for release later this morning include November industrial and manufacturing production, trade figures and GDP numbers, which are released ahead of the NIESR Monthly GDP Tracker later in the day. | Earlier in the Day: Economic data released through the Asian session was on the heavier side this morning, with key stats including November building consent figures out of New Zealand, November household spending and current account numbers out of Japan and November retail sales figures out of Australia. The Day Ahead: For the EUR , it's another quiet day on the data front, leaving the EUR in the hands of market risk sentiment and further reaction to the release of the FED and ECB monetary policy meeting minutes, the economic outlook for the Eurozone looking somewhat murkier than that of the U.S, suggesting a cap on the upside in spite of the pressure on the Dollar amidst the ongoing government shutdown. On the data front, key stats scheduled for release later this morning include November industrial and manufacturing production, trade figures and GDP numbers, which are released ahead of the NIESR Monthly GDP Tracker later in the day. | Earlier in the Day: Economic data released through the Asian session was on the heavier side this morning, with key stats including November building consent figures out of New Zealand, November household spending and current account numbers out of Japan and November retail sales figures out of Australia. For the Japanese Yen , household spending rose by 1.1% in November, month-on-month, to come in ahead of a forecasted 0.2% rise, while down from October's 1.8% rise. At the time of writing, the EUR was up 0.10% to $1.1511, with market risk sentiment to provide direction through the day. | 705f9926-febb-4bcf-a368-7ce0d876e81a |
709315.0 | 2019-01-09 00:00:00 UTC | Brexit and the ECB’s Minutes Put the GBP and the EUR in Focus | DBO | https://www.nasdaq.com/articles/brexit-and-ecbs-minutes-put-gbp-and-eur-focus-2019-01-09 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was on the lighter side, with stats limited to December retail sales figures out of the UK and December inflation figures out of China.
Out of the UK , the BRC Retail Sales Monitor fell by 0.7% in December, year-on-year, which was worse than a forecasted 0.3% decline, following November's 0.5% fall.
With like for like sales falling by 0.7%, the total 3-month average sales for all categories rose by 0.5%.
The total 3-month average for food rose by 1.8%, while the total 3-month average for non-food sales fell by 0.4%.
Total sales growth stalled for the first time in 28-months in December to deliver the worst December sales performance in 10-years.
The Pound moved from $1.27982 to $1.27969 upon release of the figures in the early part of the day, the markets brushing aside the numbers as focus remained on Brexit.
Out of China , inflation numbers came in soft, with the annual rate of inflation easing from 2.2% to 1.9%, which was worse than a forecasted 2.1%.
Month-on-month, consumer prices stalled, coming in short of a forecasted 0.3% rise following November's 0.3% fall.
Wholesale price inflation also eased from a November 2.7% to 0.9%, the slowest since Sept-16, coming up well short of a forecasted 1.6% rise in wholesale prices, year-on-year.
The Aussie Dollar moved from $0.7156 to $0.71553 upon release of the figures before moving to $0.7156 at the time of writing, a loss of 0.20% for the session.
Elsewhere , the Japanese Yen was up 0.23% to ¥107.92 against the U.S Dollar, with the Kiwi Dollar down 0.22% to $0.6773, risk appetite hitting reverse through the session.
In the equity markets, it was "risk-off" with the Nikkei sliding by 1.34% early on in the day, weighed by the risk off sentiment and bounce in the Yen. The Hang Seng and ASX200 saw more modest losses, the pair down by 0.32% and by 0.18% respectively, while the CSI300 managed to move into positive territory, up by 0.02% at the time of writing, the index finding support from progress on trade talks, though there's ultimately a long way to go before any resolution that will keep the markets on tender hooks for some time yet.
The U.S future were also in the red early on in the day, with the Dow Mini down 117 points, the real question being whether the U.S and China and can achieve the agreements made during the 3 days of talks.
The Day Ahead:
For the EUR , there are no material stats scheduled for release through the day, leaving the EUR in the hands of market risk sentiment and sentiment towards monetary policy and the economic outlook, the economic outlook certainly looking gloomy should there not be a marked turnaround in December figures.
With no material stats due out, the ECB's monetary policy meeting minutes are due out in the early afternoon, which could provide some direction for the EUR should there be any discussions on a shift in policy towards interest and deposit rates through the first quarter of this year.
Expectations are for the minutes to reflect the dovish tones from the last ECB press conference, with easing inflationary pressures and downward revisions to growth forecasts likely to keep the ECB pinned back from a policy shift on rates near-term.
At the time of writing, the EUR was up 0.06% to $1.150, with today's minutes and market risk sentiment to provide direction through the day.
For the Pound , it's another quiet day on the economic calendar , with no material stats scheduled for release following the retail sales figures released during the Asian session.
Focus remains on Brexit and, with plenty of rebels within the Tory ranks, Theresa May's position at the top is looking ever more precarious as each vote sees the British PM's power ebb away. Ironically it's been a positive for the Pound, with parliament looking to take control of Brexit should Britain's deal be deemed unacceptable.
At the time of writing, the Pound was down by 0.09% to $1.2778, with updates from parliament the key driver through the day.
Across the Pond , economic data is on the lighter side, with key stats limited to November trade figures and the weekly jobless claims numbers.
Outside of the numbers, FED Chair Jerome Powell is scheduled to speak late in the day, recently more cautious tones expected to continue following the softer ISM non-manufacturing PMI numbers at the start of the week.
With U.S - China trade talks concluded, updates on trade talks and the U.S administration and China's next moves will be in focus near-term along with any updates over the extended government shutdown that could become the longest shutdown in history should there be no resolution over the weekend.
At the time of writing, the Dollar Spot Index was down 0.06% to 95.163.
For the Loonie , economic data scheduled for release is limited to November building permits and new house price index numbers that will likely have a relatively muted impact on the Loonie, with the Loonie likely to find direction from crude oil prices .
The Loonie was down 0.22% to C$1.3238 against the U.S Dollar at the time of writing, falling crude oil prices weighing early on in the day.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Focus remains on Brexit and, with plenty of rebels within the Tory ranks, Theresa May's position at the top is looking ever more precarious as each vote sees the British PM's power ebb away. Across the Pond , economic data is on the lighter side, with key stats limited to November trade figures and the weekly jobless claims numbers. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Price Forecast - EUR/USD Steady Above Mid 1.15 Handle Ahead of ECB Minutes Update NEM's XEM Technical Analysis - Resistance Levels Eyed - 10/01/19 US-China Trade Talks - Some Positives, but Challenges Ahead The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning was on the lighter side, with stats limited to December retail sales figures out of the UK and December inflation figures out of China. The Day Ahead: For the EUR , there are no material stats scheduled for release through the day, leaving the EUR in the hands of market risk sentiment and sentiment towards monetary policy and the economic outlook, the economic outlook certainly looking gloomy should there not be a marked turnaround in December figures. Across the Pond , economic data is on the lighter side, with key stats limited to November trade figures and the weekly jobless claims numbers. | Earlier in the Day: Economic data released through the Asian session this morning was on the lighter side, with stats limited to December retail sales figures out of the UK and December inflation figures out of China. The Day Ahead: For the EUR , there are no material stats scheduled for release through the day, leaving the EUR in the hands of market risk sentiment and sentiment towards monetary policy and the economic outlook, the economic outlook certainly looking gloomy should there not be a marked turnaround in December figures. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Price Forecast - EUR/USD Steady Above Mid 1.15 Handle Ahead of ECB Minutes Update NEM's XEM Technical Analysis - Resistance Levels Eyed - 10/01/19 US-China Trade Talks - Some Positives, but Challenges Ahead The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Out of the UK , the BRC Retail Sales Monitor fell by 0.7% in December, year-on-year, which was worse than a forecasted 0.3% decline, following November's 0.5% fall. The Pound moved from $1.27982 to $1.27969 upon release of the figures in the early part of the day, the markets brushing aside the numbers as focus remained on Brexit. At the time of writing, the Pound was down by 0.09% to $1.2778, with updates from parliament the key driver through the day. | 31cab59b-be71-4807-91e4-d17e639c1088 |
709316.0 | 2019-01-08 00:00:00 UTC | U.S – China Trade Talks, the BoC and Brexit Chatter in Focus | DBO | https://www.nasdaq.com/articles/us-china-trade-talks-boc-and-brexit-chatter-focus-2019-01-08 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was limited to November building approval figures out of Australia. Outside the numbers, U.S President Trump delivered an Oval Office speech on immigration and the extended government shutdown that has shown few signs of coming to an end, President Trump digging his heels in over the funding of a border wall with Mexico.
For the Aussie Dollar , building approvals tumbled by 9.1% in November, which was significantly worse than a forecasted 0.5% decline and October's 1.5% fall.
According to figures released by the ABS:
Building approvals were down 18.3% from the same time last year.
The November slide was attributed to a fall in approvals for private sector dwellings excluding houses, which fell by 17.9%.
Private sector houses also fell, down 2.6% for the month.
The Aussie Dollar moved from $0.71657 to $0.71526 upon release of the figures before rising to $0.7157 at the time of writing, the Aussie Dollar up 0.24% through the session supported by optimism over U.S - China trade talks and improving risk appetite through the week.
Elsewhere , the Japanese Yen was down 0.15% to ¥108.91 against the U.S Dollar, with the Kiwi Dollar up 0.43% to $0.6752, risk appetite driving the markets with economic data on the lighter side through the early part of the day.
In the equity markets, it was "risk-on" with the Hang Seng and CSI300 leading the way, the pair up 2.46% and by 1.95% respectively, while the Nikkei and ASX200 were up 1.39% and by 0.96% respectively, a weaker Japanese Yen, rising commodity price, gains in the U.S Futures market and hopes of a resolution to the ongoing trade spat between the U.S and China offsetting concerns over the global economic outlook.
The Day Ahead:
For the EUR , key stats scheduled for release out of the Eurozone include November trade data out of Germany and November unemployment numbers out of the Eurozone.
Focus will be on Germany's trade data, with forecasts being EUR positive, Germany's trade surplus forecasted to widen marginally, though any upside could be offset should there be any negative updates from trade talks between the U.S and China.
At the time of writing, the EUR was up 0.11% to $1.1454, the upside come off the back of a weaker Dollar through the early part of the day.
For the Pound , there are no material stats scheduled for release through the morning, leaving the Pound in the hands of Brexit chatter and the ongoing parliamentary debate over the Brexit deal.
On the policy front, BoE Governor Carney is scheduled to speak, though with so much uncertainty over Brexit, there's unlikely to be any hawkish commentary in spite of the UK economy's resilience through the 4 th quarter.
At the time of writing, the Pound was up by 0.14% to $1.2735, with updates from parliament the key driver through the day.
Across the Pond , there are no material stats scheduled for release through the day, leaving the Dollar in the hands of chatter from the Oval Office on the ongoing government shutdown and trade talks between the U.S and China, which are likely to be topics hitting the news wires later in the day.
On the policy front, the FOMC meeting minutes are due out later in the day, which will likely have a more muted impact on the Dollar than normal, FED Chair Powell's recently more dovish stance on policy likely to be considered more current than the minutes from last month's rate hike.
FOMC members Bostic, Evans and Rosengren are scheduled to speak through the day, the number of rate hikes forecasted for the year ahead in focus, Bostic having spoken earlier in the week of the need for a single rate hike for the year ahead.
At the time of writing, the Dollar Spot Index was down 0.08% to 95.828.
For the Loonie , with economic data limited to December housing starts, focus will be on the Bank of Canada this afternoon, the first interest rate decision of the year unlikely to deliver too many surprises.
While the BoC is expected to hold, forward guidance for the year ahead remains uncertain, with concerns over the economic outlook and some disappointing economic data out of Canada likely to keep the BoC on a more dovish footing.
The BoC's policy report, rate statement and BoC press conference later in the day will be the key drivers, while further gains in crude oil prices could limit any damage should the BoC take a particularly dovish outlook on the economy.
The Loonie was up 0.31% to C$1.3233 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | On the policy front, BoE Governor Carney is scheduled to speak, though with so much uncertainty over Brexit, there's unlikely to be any hawkish commentary in spite of the UK economy's resilience through the 4 th quarter. For the Loonie , with economic data limited to December housing starts, focus will be on the Bank of Canada this afternoon, the first interest rate decision of the year unlikely to deliver too many surprises. This article was originally posted on FX Empire More From FXEMPIRE: Precious Metals Continue Subdued Action Owing To Increased Risk On Trading Activity GBP/USD Price Forecast - GBP/USD Trades Range Bound on Brexit Woes USD/JPY Fundamental Daily Forecast - Fed Minutes Today, but Appetite for Risk Will Determine Direction The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning was limited to November building approval figures out of Australia. The Day Ahead: For the EUR , key stats scheduled for release out of the Eurozone include November trade data out of Germany and November unemployment numbers out of the Eurozone. Across the Pond , there are no material stats scheduled for release through the day, leaving the Dollar in the hands of chatter from the Oval Office on the ongoing government shutdown and trade talks between the U.S and China, which are likely to be topics hitting the news wires later in the day. | The Aussie Dollar moved from $0.71657 to $0.71526 upon release of the figures before rising to $0.7157 at the time of writing, the Aussie Dollar up 0.24% through the session supported by optimism over U.S - China trade talks and improving risk appetite through the week. Across the Pond , there are no material stats scheduled for release through the day, leaving the Dollar in the hands of chatter from the Oval Office on the ongoing government shutdown and trade talks between the U.S and China, which are likely to be topics hitting the news wires later in the day. This article was originally posted on FX Empire More From FXEMPIRE: Precious Metals Continue Subdued Action Owing To Increased Risk On Trading Activity GBP/USD Price Forecast - GBP/USD Trades Range Bound on Brexit Woes USD/JPY Fundamental Daily Forecast - Fed Minutes Today, but Appetite for Risk Will Determine Direction The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning was limited to November building approval figures out of Australia. The Aussie Dollar moved from $0.71657 to $0.71526 upon release of the figures before rising to $0.7157 at the time of writing, the Aussie Dollar up 0.24% through the session supported by optimism over U.S - China trade talks and improving risk appetite through the week. Across the Pond , there are no material stats scheduled for release through the day, leaving the Dollar in the hands of chatter from the Oval Office on the ongoing government shutdown and trade talks between the U.S and China, which are likely to be topics hitting the news wires later in the day. | 637c591c-ea11-45f4-8912-6addd89f7209 |
709317.0 | 2019-01-06 00:00:00 UTC | U.S China Trade Talks and Service Sector PMI Numbers to Drive the Markets | DBO | https://www.nasdaq.com/articles/us-china-trade-talks-and-service-sector-pmi-numbers-drive-markets-2019-01-06 | nan | nan | Earlier in the Day:
After a choppy start to the year, it's a big week ahead, with focus being on the resumption of trade talks between the U.S and China this morning, Brexit, the government shutdown, central bank policy and a number of key stats that will provide further direction on where the global economy is heading going into the New Year.
Economic data scheduled for release this morning is on the lighter side, with stats limited to November AIG Manufacturing Index numbers out of Australia.
For the Aussie Dollar , the AIG Manufacturing Index fell from 51.3 to 49.5 in December to signal a contraction at the end of the 4 th quarter, the first in 26 months. The December number came in at its lowest level since Aug-2016.
6 out of 7 activity indexes fell in December, indicating generally weaker conditions.
Food & beverage manufacturers and businesses in smaller manufacturing sectors reported higher production in the run up to Christmas.
Large metals, machinery & equipment and chemicals sectors reported a gradual slowing down of demand, continuing a downward trend through the 2 nd half of 2018.
Across the manufacturing sectors, 5 of the 7 sectors expanded, 2 were stable with the large metals sector in contraction.
3 of the 7 activity indexes contracted in December, 3 were stable, with finished stocks the only activity index in expansion.
Input prices rose to a 3-month high, with the average wage index also on the rise, reflecting a continued upward trend in wages.
In contrast, factory gate prices fell, weighing on margins at the end of the year.
Looking at the numbers:
The employment index fell by 1.5 points to 47.9.
New orders rose by 0.3 points to 49.0, well below a 12-month average 57.7.
The production sub-index fell by 2.4 points to 49.4, also well below a 12-month average 57.7.
The input price sub-index rose by 1.3 points to 76.3, holding above a 12-month average 71.5, while the selling price sub-index fell by 6.3 points to 44.1.
Average wages rose by 5.4 points to 64.2.
The Aussie Dollar stood at $0.7124 at the time of writing, a up 0.15 for the morning, supported by the risk on sentiment and FED Chair Powell's more dovish stance on Friday.
Elsewhere , the Japanese Yen was flat at ¥108.51, with the Kiwi Dollar up just 0.09% to $0.6738, some caution lingering in the FX word at the start of the week, with focus being on the U.S - China trade talks.
The Day Ahead:
For the EUR , economic data scheduled for release through the day ahead includes November factory order and retail sales figures out of Germany, along with retail sales numbers out of the Eurozone, with German factory orders likely to have the greatest impact on the EUR from a data front, forecasts being EUR negative.
Outside of the numbers, trade talks between the U.S and China will also provide direction and is ultimately expected to be the key driver through the week.
At the time of writing, the EUR up 0.16% to $1.1413.
For the Pound , there are no material stats scheduled for release, leaving the Pound firmly in the hands of Parliament and the start of the parliamentary debate over the Brexit deal, British PM Theresa May having delayed the vote from late last year.
At the time of writing, the Pound was up 0.12% to $1.2738.
Across the Pond , economic data scheduled for release includes November factory orders, the market's preferred ISM non-manufacturing PMI number for December and finalized November capital goods, ship, non-defence, ex-air orders.
While factory and capital goods orders will provide some direction, the non-manufacturing PMI numbers will be the key driver on the data front, the services sector accounting for the lion's share of the U.S economy, forecasts being Dollar negative.
Outside of the numbers, updates from the resumption of trade talks between the U.S and China and chatter from Capitol Hill will also provide direction, any progress on trade talks likely to overshadow any talk of an extended government shutdown.
At the time of writing, the Dollar Spot Index was down 0.08% to 96.103.
For the Loonie , economic data scheduled for release is limited to December's Ivey PMI, which will have some influence, though direction through the day will ultimately be hinged on market risk sentiment driven by U.S China trade talks, any negative updates to weigh on crude oil prices and the Loonie at the start of the week.
The Loonie was up 0.04% to C$1.3369 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Aussie Dollar stood at $0.7124 at the time of writing, a up 0.15 for the morning, supported by the risk on sentiment and FED Chair Powell's more dovish stance on Friday. Elsewhere , the Japanese Yen was flat at ¥108.51, with the Kiwi Dollar up just 0.09% to $0.6738, some caution lingering in the FX word at the start of the week, with focus being on the U.S - China trade talks. While factory and capital goods orders will provide some direction, the non-manufacturing PMI numbers will be the key driver on the data front, the services sector accounting for the lion's share of the U.S economy, forecasts being Dollar negative. | The Day Ahead: For the EUR , economic data scheduled for release through the day ahead includes November factory order and retail sales figures out of Germany, along with retail sales numbers out of the Eurozone, with German factory orders likely to have the greatest impact on the EUR from a data front, forecasts being EUR negative. Across the Pond , economic data scheduled for release includes November factory orders, the market's preferred ISM non-manufacturing PMI number for December and finalized November capital goods, ship, non-defence, ex-air orders. While factory and capital goods orders will provide some direction, the non-manufacturing PMI numbers will be the key driver on the data front, the services sector accounting for the lion's share of the U.S economy, forecasts being Dollar negative. | The Day Ahead: For the EUR , economic data scheduled for release through the day ahead includes November factory order and retail sales figures out of Germany, along with retail sales numbers out of the Eurozone, with German factory orders likely to have the greatest impact on the EUR from a data front, forecasts being EUR negative. For the Loonie , economic data scheduled for release is limited to December's Ivey PMI, which will have some influence, though direction through the day will ultimately be hinged on market risk sentiment driven by U.S China trade talks, any negative updates to weigh on crude oil prices and the Loonie at the start of the week. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Price Forecast - EUR/USD To Trade Positive But Remains Locked In Wider Price Band Limitations DASH Technical Analysis - Support Levels in Play - 07/01/18 Price of Gold Fundamental Weekly Forecast - Shift in Fed's Tone Could Drive Market Back to $1251.40 to $1238.80 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: After a choppy start to the year, it's a big week ahead, with focus being on the resumption of trade talks between the U.S and China this morning, Brexit, the government shutdown, central bank policy and a number of key stats that will provide further direction on where the global economy is heading going into the New Year. For the Aussie Dollar , the AIG Manufacturing Index fell from 51.3 to 49.5 in December to signal a contraction at the end of the 4 th quarter, the first in 26 months. For the Loonie , economic data scheduled for release is limited to December's Ivey PMI, which will have some influence, though direction through the day will ultimately be hinged on market risk sentiment driven by U.S China trade talks, any negative updates to weigh on crude oil prices and the Loonie at the start of the week. | e19049c0-322f-41ae-a1c3-18571a9b9c5f |
709318.0 | 2019-01-02 00:00:00 UTC | The Yen Hits ¥104, Apple and China Doing the Damage | DBO | https://www.nasdaq.com/articles/yen-hits-y104-apple-and-china-doing-damage-2019-01-02 | nan | nan | Earlier in the Day:
There were no material stats released through the Asian session this morning, leaving direction through the day in the hands of sentiment towards the global economic outlook, Brexit and hopes of an end to the ongoing trade war between the U.S and China.
A slide in Apple.inc shares through the U.S session, combined with weaker than expected manufacturing PMI numbers out of the U.S and a contraction in China's manufacturing sector weighed going into the Asian session.
The Yen rallied to a morning high ¥104.87 against the Dollar before easing back to ¥107.14 at the time of writing, up 1.6% for the session.
For the Aussie Dollar and Kiwi Dollar, the risk off sentiment weighed, with the Aussie Dollar back at sub-$0.70 levels, down 0.66% to $0.6939 at the time of writing, while the Kiwi Dollar was down 0.35% to $0.6632, the pair managing to recover from heavier losses hit at the start of the session. For the Aussie Dollar, alarm bells will have been ringing, the early sell-off seeing the Aussie Dollar lose as much as 3.49% to strike $0.67 levels before retracing some of the losses.
In spite of heightened volatility in the FX world, the equity markets reflected a different story, with the ASX200 rallying by 1.35% at the time of writing and the Hang Seng and CSI300 up 0.25% and by 0.29% respectively, the gains coming in spite of another sell-off in the U.S futures in the early hours.
The Day Ahead:
For the EUR , economic data out of the Eurozone is limited to unemployment numbers out of Spain that are unlikely to have a material impact on the EUR, the EUR expected to be in the hands of risk sentiment through the day.
While manufacturing PMI numbers avoided delivering a shock on Wednesday, China's number certainly did, with the risk off sentiment pinning the EUR back on the day, the Eurozone economy is one step ahead of that of the U.S on the slowdown path.
At the time of writing, the EUR up 0.12% to $1.1358.
For the Pound , economic data will continue to be overshadowed by market sentiment towards Brexit and the ongoing concerns over the global economic outlook, the UK needing to go it alone should the Brexit deal get voted through on 14 th December, the Pound struggling at the start of the year following comments from the U.S Administration on the prospects of a trade deal should the current Brexit deal get pushed through.
Economic data scheduled for release later this morning is limited to December's construction PMI.
At the time of writing, the Pound was down 0.52% at $1.2542, with any Brexit chatter through the day likely to overshadow today's PMI numbers.
Across the Pond , economic data is on the heavier side, with key stats scheduled for release through the day including December's ADP nonfarm employment change and weekly jobless claims figures, which are released ahead of December's ISM manufacturing PMI and November new home sales numbers.
We will expect focus to be on the ADP and ISM manufacturing PMI numbers, with anything weaker than forecasted likely to hit risk sentiment further.
Outside the numbers, the government shutdown and trade war chatter will also be of influence through the day.
At the time of writing, the Dollar Spot Index was down 0.26% to 96.565.
For the Loonie , it's yet another quiet day ahead on the economic data front, leaving direction to come from crude oil prices and general sentiment towards demand over the near-term, with focus likely to begin shifting to tomorrow's employment numbers and some key stats out of the U.S that could set the tone for the markets through the early part of the year..
The Loonie was down 0.40% to C$1.3633 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Across the Pond , economic data is on the heavier side, with key stats scheduled for release through the day including December's ADP nonfarm employment change and weekly jobless claims figures, which are released ahead of December's ISM manufacturing PMI and November new home sales numbers. For the Loonie , it's yet another quiet day ahead on the economic data front, leaving direction to come from crude oil prices and general sentiment towards demand over the near-term, with focus likely to begin shifting to tomorrow's employment numbers and some key stats out of the U.S that could set the tone for the markets through the early part of the year.. This article was originally posted on FX Empire More From FXEMPIRE: USD/JPY Forex Technical Analysis - Wide Trading Range with 108.305 Upside Target, 104.600 Downside Target Rebound in Oil Sector Fuels U.S. Stock Market Recovery S&P 500 Price Forecast - stock markets find support after initial negativity The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: There were no material stats released through the Asian session this morning, leaving direction through the day in the hands of sentiment towards the global economic outlook, Brexit and hopes of an end to the ongoing trade war between the U.S and China. For the Aussie Dollar and Kiwi Dollar, the risk off sentiment weighed, with the Aussie Dollar back at sub-$0.70 levels, down 0.66% to $0.6939 at the time of writing, while the Kiwi Dollar was down 0.35% to $0.6632, the pair managing to recover from heavier losses hit at the start of the session. We will expect focus to be on the ADP and ISM manufacturing PMI numbers, with anything weaker than forecasted likely to hit risk sentiment further. | For the Aussie Dollar and Kiwi Dollar, the risk off sentiment weighed, with the Aussie Dollar back at sub-$0.70 levels, down 0.66% to $0.6939 at the time of writing, while the Kiwi Dollar was down 0.35% to $0.6632, the pair managing to recover from heavier losses hit at the start of the session. The Day Ahead: For the EUR , economic data out of the Eurozone is limited to unemployment numbers out of Spain that are unlikely to have a material impact on the EUR, the EUR expected to be in the hands of risk sentiment through the day. Across the Pond , economic data is on the heavier side, with key stats scheduled for release through the day including December's ADP nonfarm employment change and weekly jobless claims figures, which are released ahead of December's ISM manufacturing PMI and November new home sales numbers. | Earlier in the Day: There were no material stats released through the Asian session this morning, leaving direction through the day in the hands of sentiment towards the global economic outlook, Brexit and hopes of an end to the ongoing trade war between the U.S and China. At the time of writing, the Pound was down 0.52% at $1.2542, with any Brexit chatter through the day likely to overshadow today's PMI numbers. The Loonie was down 0.40% to C$1.3633 against the U.S Dollar at the time of writing. | a933ad5d-ff94-4a79-bff7-6acf39fe97bb |
709319.0 | 2018-12-30 00:00:00 UTC | China’s Manufacturing PMI the Weakest Since 2016 | DBO | https://www.nasdaq.com/articles/chinas-manufacturing-pmi-the-weakest-since-2016-2018-12-30 | nan | nan | Earlier in the Day:
Economic data scheduled for release this morning was limited to November private sector credit figures out of Australia and December private sector PMI numbers out of China.
With the year coming to an end, a number of key markets are closed through today, including Japan, Italy and Germany, with the remainder on a shortened session to pin back volumes through the day ahead of tomorrow's market close.
For the Aussie Dollar, private sector credit rose by 0.3% month-on-month, in November, which was in line with forecasts, whilst easing from a 0.4% rise in October, according to figures released by the RBA.
Personal credit continued to drag in the month, falling by 0.3% following October's 0.3% decline.
Housing credit and business credit saw the same pace of growth, rising by 0.3% and by 0.5% respectively.
The Aussie Dollar moved from $0.74096 to $0.70525 upon release of the data, which preceded the PMI numbers out of China.
Out of China, it was a mixed bag, with the manufacturing PMI falling from 50.0 to 49.4 in December, reflecting a contraction in the sector after stagnating in November. Service sector activity picked up however, with the PMI rising from 53.4 to 53.8, coming in ahead of a forecasted 53.2.
Large companies and state owned enterprises (SOEs) within the manufacturing sector contracted for the first time since 2016 and was the weakest since February 2016.
New export orders contracted for a 7 th consecutive month.
Support came from the non-manufacturing sector numbers, with the Chinese government having been looking to rebalance the economy skewed in favour of non-manufacturing.
The Aussie Dollar moved from $0.70536 to $0.70464 upon release of the figures, before rising to $0.7059 at the time of writing, up 0.17% for the session, supported by positive updates over initial talks between Trump and Chinese Premier Xi.
Elsewhere, the Japanese Yen stood at ¥110.45 against the U.S Dollar, down 0.16% for the morning. For the Kiwi Dollar, things were less rosy, down 0.01% to $0.6717.
In the equity markets, positive updates from Trump on trade talks provided support to the Hang Seng, which was up 1.18% at the time of writing, while the ASX200 gave up gains from earlier in the session, down 0.06%, with the reversal coming in spite of bounce in the U.S futures market, the Dow Mini up by 146 points.
The Day Ahead:
For the EUR , there are no material stats scheduled for release through the day, with the EUR finding little support following the Italian coalition government's expected wrapping up of the 2019 budget in line with EU requirements.
Market sentiment towards next week's trade talks between the U.S and China and sentiment towards the global economic outlook will also provide direction, this morning's manufacturing PMI number out of China to influence.
At the time of writing, the EUR down 0.08% to $1.1435.
For the Pound , there are no material stats scheduled for release, leaving the Pound in the hands of Brexit chatter through the week.
With the delayed parliamentary vote scheduled for 14 th January, Theresa May has very little time to garner the necessary support and to rally the Tory troops, a week of debates scheduled to start next Monday ahead of the following week's vote.
At the time of writing, the Pound was down 0.09% to $1.2687, with direction through the day hinged on Brexit chatter, which should be on the lighter side through the day, jitters ahead of the parliamentary debates likely to begin creeping in.
Across the Pond , with no economic data scheduled for release, the Dollar will be in the hands of market risk appetite ahead of tomorrow's holidays, with trade war chatter and the extended government shutdown to dictate direction through the day. Look out for another major equity market move that will also impact Treasury yields and the Dollar.
At the time of writing, the Dollar Spot Index was up 0.04% to 96.44, with chatter from Capitol Hill to provide direction through the day.
For the Loonie , a lack of economic data until the end of the week leaves the Loonie in the hands of crude oil prices and sentiment towards the global economic outlook, this morning's private sector PMI numbers out of China will have been overshadowed by positive updates from the U.S President on initial talks with Chinese Premier Xi.
The Loonie was up 0.11% to C$1.3623 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Aussie Dollar moved from $0.70536 to $0.70464 upon release of the figures, before rising to $0.7059 at the time of writing, up 0.17% for the session, supported by positive updates over initial talks between Trump and Chinese Premier Xi. Across the Pond , with no economic data scheduled for release, the Dollar will be in the hands of market risk appetite ahead of tomorrow's holidays, with trade war chatter and the extended government shutdown to dictate direction through the day. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin - Bears in Control as the Year Comes to an End E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis - Move Through 6402.50 Confirms Weekly Reversal with 6494.75 to 6654.00 First Target Zone E-mini S&P 500 Index ( ES ) Futures Technical Analysis - Weekly Reversal Bottom Confirmed on Trade Through 2523.00 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Aussie Dollar moved from $0.70536 to $0.70464 upon release of the figures, before rising to $0.7059 at the time of writing, up 0.17% for the session, supported by positive updates over initial talks between Trump and Chinese Premier Xi. Market sentiment towards next week's trade talks between the U.S and China and sentiment towards the global economic outlook will also provide direction, this morning's manufacturing PMI number out of China to influence. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin - Bears in Control as the Year Comes to an End E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis - Move Through 6402.50 Confirms Weekly Reversal with 6494.75 to 6654.00 First Target Zone E-mini S&P 500 Index ( ES ) Futures Technical Analysis - Weekly Reversal Bottom Confirmed on Trade Through 2523.00 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data scheduled for release this morning was limited to November private sector credit figures out of Australia and December private sector PMI numbers out of China. For the Loonie , a lack of economic data until the end of the week leaves the Loonie in the hands of crude oil prices and sentiment towards the global economic outlook, this morning's private sector PMI numbers out of China will have been overshadowed by positive updates from the U.S President on initial talks with Chinese Premier Xi. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin - Bears in Control as the Year Comes to an End E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis - Move Through 6402.50 Confirms Weekly Reversal with 6494.75 to 6654.00 First Target Zone E-mini S&P 500 Index ( ES ) Futures Technical Analysis - Weekly Reversal Bottom Confirmed on Trade Through 2523.00 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Aussie Dollar, private sector credit rose by 0.3% month-on-month, in November, which was in line with forecasts, whilst easing from a 0.4% rise in October, according to figures released by the RBA. In the equity markets, positive updates from Trump on trade talks provided support to the Hang Seng, which was up 1.18% at the time of writing, while the ASX200 gave up gains from earlier in the session, down 0.06%, with the reversal coming in spite of bounce in the U.S futures market, the Dow Mini up by 146 points. Across the Pond , with no economic data scheduled for release, the Dollar will be in the hands of market risk appetite ahead of tomorrow's holidays, with trade war chatter and the extended government shutdown to dictate direction through the day. | 2f1abd64-48c4-4cc2-b61d-057e48b63f25 |
709320.0 | 2018-12-27 00:00:00 UTC | Risk Sentiment the Key Driver for the USD, with U.S Stats Unlikely to Help | DBO | https://www.nasdaq.com/articles/risk-sentiment-key-driver-usd-us-stats-unlikely-help-2018-12-27 | nan | nan | Earlier in the Day:
Economic data released through the Asian session included November employment, retail sales and industrial production figures and December inflation figures out of Japan.
For the Japanese Yen,
The job / applications ratio rose from 1.62 to 1.63, which was in line with forecasts, while the unemployment rate rose from 2.4% to 2.5% in November, which was worse than a forecasted hold at 2.4%.
Tokyo's core consumer price index eased from 1% to 0.9% in December, year-on-year, according to prelim figures.
Prices for furniture and household utensils fell by 1.1% year-on-year, with prices for transportation and communication also weighing, down 0.7%.
Prices for clothes and footwear also weighed, with prices up just 0.4% year-on-year, softening from November's 0.9%, prices falling by 1.7% month-on-month.
Month-on-month, the Tokyo core CPI saw inflation stall, while headline inflation also disappointed, with the annual rate of inflation coming in at just 0.3%, consumer prices falling by 0.3% month-on-month.
Retail sales rose by 1.4% in November year-on-year, coming up short of a forecasted 2.2%, following an upwardly revised 3% increase in October.
Industrial production fell by 1.1% in November, according to prelim figures, partially reversing October's 2.9% rise, whilst coming in ahead of a forecasted 2.2% fall.
Industries that mainly contributed to the decrease were: 1) General-purpose and business orientated machinery; 2) electrical machinery and information and communication electronics equipment; and 3) electronic parts and devices.
Industries that mainly contributed to an increase were: 1) Production machinery; 2) chemicals (excl. inorganic, organic chemicals and medicine); and 3) Petroleum and coal products.
The Japanese Yen moved from ¥110.886 to ¥110.889 against the U.S Dollar upon release of the figures, before rising to ¥110.60 against the U.S Dollar, up 0.37% for the morning.
Elsewhere, the Aussie Dollar was up 0.24% to $0.7050, with the Kiwi Dollar up 0.16% to $0.6713, at the time of writing, rising commodity prices providing support off the back of Thursday's rebound in the U.S session.
The Day Ahead:
For the EUR , economic data scheduled for release through the session includes finalized 3 rd quarter GDP numbers out of Spain and prelim December inflation figures out of Spain and Germany.
On the data front, focus will be on the inflation numbers, barring a material revision to Spain's GDP number, though direction through the day may ultimately be hinged on market risk sentiment, U.S futures pointing to another opening in the red this morning.
At the time of writing, the EUR was up 0.17% to $1.1450, with the inflation numbers and market risk sentiment to provide direction through the day.
For the Pound , it's a quiet day ahead, with UK gross mortgage approvals the only numbers due out that will unlikely have a material impact on the Pound through the day.
At the time of writing, the Pound was up 0.16% to $1.2664, with direction through the day hinged on market risk appetite and the Dollar, the lack of chatter on Brexit leaving the Pound in pause mode for now.
Across the Pond , economic data scheduled for release includes November trade data and pending home sales figures, together with December's PMI out of Chicago.
While an expected rebound in pending home sales would normally provide the Dollar with much needed support, focus will likely be the trade numbers and Chicago PMI, a marked slowdown in manufacturing activity in Philly and NY State raising some early red flags in spite of the FED Chair's hawkish views on the economic outlook.
At the time of writing, the Dollar Spot Index was down 0.09% to 96.359, with today's stats and any Oval Office chatter to provide direction through the day.
For the Loonie , it's another quiet day on the data front, leaving the Loonie in the hands of the weekly EIA and API crude oil numbers out of the U.S, anything in line with or better than forecasted a positive for the Loonie.
The Loonie was flat at C$1.3619 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Industrial production fell by 1.1% in November, according to prelim figures, partially reversing October's 2.9% rise, whilst coming in ahead of a forecasted 2.2% fall. While an expected rebound in pending home sales would normally provide the Dollar with much needed support, focus will likely be the trade numbers and Chicago PMI, a marked slowdown in manufacturing activity in Philly and NY State raising some early red flags in spite of the FED Chair's hawkish views on the economic outlook. This article was originally posted on FX Empire More From FXEMPIRE: Precious Metals Trade Positive On Steady Demand For Safe Haven Assets Amid Holiday Season Natural Gas Price Forecast - natural gas markets chop on Thursday Gold Price Forecast - Gold markets continue to press resistance The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session included November employment, retail sales and industrial production figures and December inflation figures out of Japan. Across the Pond , economic data scheduled for release includes November trade data and pending home sales figures, together with December's PMI out of Chicago. This article was originally posted on FX Empire More From FXEMPIRE: Precious Metals Trade Positive On Steady Demand For Safe Haven Assets Amid Holiday Season Natural Gas Price Forecast - natural gas markets chop on Thursday Gold Price Forecast - Gold markets continue to press resistance The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session included November employment, retail sales and industrial production figures and December inflation figures out of Japan. The Day Ahead: For the EUR , economic data scheduled for release through the session includes finalized 3 rd quarter GDP numbers out of Spain and prelim December inflation figures out of Spain and Germany. This article was originally posted on FX Empire More From FXEMPIRE: Precious Metals Trade Positive On Steady Demand For Safe Haven Assets Amid Holiday Season Natural Gas Price Forecast - natural gas markets chop on Thursday Gold Price Forecast - Gold markets continue to press resistance The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session included November employment, retail sales and industrial production figures and December inflation figures out of Japan. Tokyo's core consumer price index eased from 1% to 0.9% in December, year-on-year, according to prelim figures. Industries that mainly contributed to an increase were: 1) Production machinery; 2) chemicals (excl. | c5973c55-fc25-494a-ae36-38a31c335a22 |
709321.0 | 2018-12-26 00:00:00 UTC | U.S Consumer Confidence and Oval Office Chatter Keep the USD in Focus | DBO | https://www.nasdaq.com/articles/us-consumer-confidence-and-oval-office-chatter-keep-usd-focus-2018-12-26 | nan | nan | Earlier in the Day:
It was another quiet day on theeconomic calendar with no material stats released through the Asian session this morning. A U.S equity market rally, coming off the back of reports of particularly strong retail sales figures over the holiday season and reassurances from the U.S President that there will be no attempt to remove the FED Chair, provided direction through the morning.
At the time of writing, the Japanese Yen stood at ¥110.97 against the U.S Dollar, down 0.36% for the morning, the Yen managing to recover from heavier losses from earlier in the day as the U.S futures point to a red opening later today.
Things were not so rosy for the Aussie and Kiwi Dollar either, with the Aussie Dollar down 0.14% to $0.7056 and the Kiwi Dollar down 0.24% to $0.6716, November industrial profit numbers out of China delivering more bad news from the world's 2 nd largest economy, leading to a reversal of gains made earlier in the day.
The disappointing numbers out of China were not bad enough to throw the equity markets into a spin however, with the Nikkei up 3.74% at the time of writing to lead the way. The ASX200 was also on the move, up 1.63%, while the Hang Seng and CSI300 saw early gains slip away, the pair up by just 0.52% and by 0.55% respectively.
The Day Ahead:
For the EUR , the markets will receive the first set of stats of the week, with France's job seeker's total due out. We don't expect the EUR to show too much reaction to the numbers, with the release of the ECB Economic Bulletin earlier in the morning likely to be of greater significance for the EUR.
With ECB President Draghi having already delivered a more cautious speech at the last ECB policy press conference, the bulletin will need to raise more concerns to materially influence the EUR through the day, some softening to be expected as the markets are reminded of the acknowledged slowdown.
On the positive side, reports of the U.S and China planning to resume trade talks in the New Year will provide some support.
At the time of writing, the EUR was up 0.25% to $1.1381, with the ECB Economic Bulletin and market risk sentiment to provide direction through the day.
For the Pound , it's another quiet day on the data front, with no material stats scheduled for release through the day. The lack of stats and lack of Brexit chatter may become an issue for the Pound, with the 14 th January parliamentary vote on the Brexit deal now less than 3-weeks away.
The latest director's survey out of the UK showed that business confidence fell to its lowest level since the survey began back in July 2016. The IoD survey reported that 57% of company directors surveyed were pessimistic about the economy, with only 20% forecasting a pickup in economic activity.
At the time of writing, the Pound up 0.21% to $1.2659, some support coming in spite of a gloomy economic outlook, with the Dollar on the back foot early in the day.
Across the Pond , economic data scheduled for release includes December consumer confidence figures, November new home sales and the weekly jobless claims numbers.
Barring a material jump in the weekly initial jobless claims figures, we will expect focus to be on the consumer confidence and new home sales numbers later today.
Outside of the numbers, the U.S government shutdown and market reaction to the prospects of U.S - China trade talks resuming on 7 th January will have some influence, as will any chatter from the Oval Office through the day.
At the time of writing, the Dollar Spot Index was down 0.22% to 96.837, with today's stats and any Oval Office chatter to provide direction through the day.
For the Loonie , it's another quiet day on the data front, leaving the Loonie in the hands of market risk sentiment, with direction in crude oil prices to be the key driver through the day, a more than 8% bounce in WTI prices on Wednesday having provided some much needed relief.
The Loonie was down 0.12% to C$1.3590 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A U.S equity market rally, coming off the back of reports of particularly strong retail sales figures over the holiday season and reassurances from the U.S President that there will be no attempt to remove the FED Chair, provided direction through the morning. Across the Pond , economic data scheduled for release includes December consumer confidence figures, November new home sales and the weekly jobless claims numbers. Outside of the numbers, the U.S government shutdown and market reaction to the prospects of U.S - China trade talks resuming on 7 th January will have some influence, as will any chatter from the Oval Office through the day. | At the time of writing, the EUR was up 0.25% to $1.1381, with the ECB Economic Bulletin and market risk sentiment to provide direction through the day. Across the Pond , economic data scheduled for release includes December consumer confidence figures, November new home sales and the weekly jobless claims numbers. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast - sloppy trading on Wednesday Gold Price Forecast - Gold markets break out Silver Price Forecast - Silver markets break out The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Things were not so rosy for the Aussie and Kiwi Dollar either, with the Aussie Dollar down 0.14% to $0.7056 and the Kiwi Dollar down 0.24% to $0.6716, November industrial profit numbers out of China delivering more bad news from the world's 2 nd largest economy, leading to a reversal of gains made earlier in the day. For the Loonie , it's another quiet day on the data front, leaving the Loonie in the hands of market risk sentiment, with direction in crude oil prices to be the key driver through the day, a more than 8% bounce in WTI prices on Wednesday having provided some much needed relief. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast - sloppy trading on Wednesday Gold Price Forecast - Gold markets break out Silver Price Forecast - Silver markets break out The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | At the time of writing, the EUR was up 0.25% to $1.1381, with the ECB Economic Bulletin and market risk sentiment to provide direction through the day. For the Pound , it's another quiet day on the data front, with no material stats scheduled for release through the day. The Loonie was down 0.12% to C$1.3590 against the U.S Dollar at the time of writing. | fc1f9a44-58ff-4946-833a-3743ae82d309 |
709322.0 | 2018-12-20 00:00:00 UTC | It’s all about the USD, with Stats, Trump and a Possible Shutdown to Look out for | DBO | https://www.nasdaq.com/articles/its-all-about-usd-stats-trump-and-possible-shutdown-look-out-2018-12-20 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was limited to November national inflation figures out of Japan.
For the Japanese Yen, the annual rate of core inflation came in at 0.9%, the rate of inflation easing from an October 1%, while also falling short of a forecasted 1%.
Weighing on core inflation in November were furniture and household utensils, prices falling by 0.7% and prices for housing, which fell by 0.1%.
Easing prices for transportation & communication also contributed to the softer number.
On the upside, fuel, light and water charges rose by 5%, with prices for medical care up 1.2% and prices for culture and recreation up 1%.
Prices for goods rose by 1.4%, while prices for services rose by just 0.3%.
The Japanese Yen moved from ¥111.55 to ¥111.137 against the Dollar upon release of the figures, the lack of inflationary pressures in line with BoJ Governor Kuroda's outlook shared at the BoJ press conference on Thursday.
At the time of writing, the Yen stood at ¥111.377, a partial recovery in the Dollar weighing early on in the day.
Elsewhere , the Aussie Dollar found support in spite of the risk aversion through the session, supported by an uptick in iron ore prices, up 0.08% to $0.7114, while Kiwi Dollar was down 0.06% to $0.6772.
The Day Ahead:
For the EUR , economic data scheduled for release through the day is on the lighter side, with key stats including January consumer sentiment figures out of Germany and November consumer spending numbers out of France.
We would expect both sets of numbers to have some impact on the EUR, though sentiment towards the Dollar will have the greatest influence on the pair through the day, the markets now moving on from the political uncertainty of the Italian coalition government, bringing the Eurozone's economic outlook and ECB policy to the forefront.
There's always Trump to consider, who could start talking of tariffs on EU cars, though things have been on the quieter side of late, with economic indicators out of the U.S doing his trade war tactics few favours.
At the time of writing, the EUR was flat at $1.1446, with market risk sentiment to provide direction through the day.
For the Pound , economic data scheduled for release includes 3 rd quarter, finalized GDP and business investment figures, current account numbers and the BoE's quarterly bulletin.
Barring deviation from the prelim 3 rd quarter numbers, we would expect the BoE's quarterly bulletin to have the greatest influence from theeconomic calendar while the prospect of a no deal departure from the EU continues to plague the Pound, pinning back any potential upside from the data side.
At the time of writing, the Pound up 0.10% to $1.2623, with chatter from Parliament and Brexit noise the key drivers today.
Across the Pond , economic data is on the heavier side, with key stats scheduled for release including November durable goods orders figures, finalized 3 rd quarter GDP numbers, the FED's preferred Core PCE Price Index numbers for November, finalized consumer sentiment figures for December and November personal spending numbers.
Barring deviation from 2 nd estimate GDP numbers, we would expect core durable goods orders and the FED's preferred inflation measure to have the greatest influence, while any disappointing personal spending figures will also have an impact, the stats skewed in favour of the Dollar, supported by a forecasted rise in inflationary pressures.
Outside the numbers, market risk sentiment will also influence, the market still reeling from the FED policy outlook and Powell's Wednesday press conference.
At the time of writing, the Dollar Spot Index was up 0.20% to 96.468, the Greenback clawing back some of Thursday's losses in the early hours.
For the Loonie , economic data scheduled for release includes October retail sales and GDP numbers, with the BoC's business outlook survey due out later in the day. We can expect the stats to have a material influence on the Loonie, following the latest BoC policy decision and uncertainty raised over the economic outlook.
Outside of the numbers, crude oil prices will influence, a pickup in crude oil prices in the early hours providing much needed support, offsetting U.S Dollar strength.
The Loonie was up 0.01% to C$1.3508 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | We would expect both sets of numbers to have some impact on the EUR, though sentiment towards the Dollar will have the greatest influence on the pair through the day, the markets now moving on from the political uncertainty of the Italian coalition government, bringing the Eurozone's economic outlook and ECB policy to the forefront. Barring deviation from 2 nd estimate GDP numbers, we would expect core durable goods orders and the FED's preferred inflation measure to have the greatest influence, while any disappointing personal spending figures will also have an impact, the stats skewed in favour of the Dollar, supported by a forecasted rise in inflationary pressures. For the Loonie , economic data scheduled for release includes October retail sales and GDP numbers, with the BoC's business outlook survey due out later in the day. | For the Pound , economic data scheduled for release includes 3 rd quarter, finalized GDP and business investment figures, current account numbers and the BoE's quarterly bulletin. Across the Pond , economic data is on the heavier side, with key stats scheduled for release including November durable goods orders figures, finalized 3 rd quarter GDP numbers, the FED's preferred Core PCE Price Index numbers for November, finalized consumer sentiment figures for December and November personal spending numbers. For the Loonie , economic data scheduled for release includes October retail sales and GDP numbers, with the BoC's business outlook survey due out later in the day. | The Day Ahead: For the EUR , economic data scheduled for release through the day is on the lighter side, with key stats including January consumer sentiment figures out of Germany and November consumer spending numbers out of France. Across the Pond , economic data is on the heavier side, with key stats scheduled for release including November durable goods orders figures, finalized 3 rd quarter GDP numbers, the FED's preferred Core PCE Price Index numbers for November, finalized consumer sentiment figures for December and November personal spending numbers. This article was originally posted on FX Empire More From FXEMPIRE: USD/JPY Price Forecast - US dollar on the precipice Gold Price Forecast - Gold markets form bullish candle NEO Technical Analysis - Support Levels in Play - 20/12/18 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | At the time of writing, the EUR was flat at $1.1446, with market risk sentiment to provide direction through the day. Barring deviation from 2 nd estimate GDP numbers, we would expect core durable goods orders and the FED's preferred inflation measure to have the greatest influence, while any disappointing personal spending figures will also have an impact, the stats skewed in favour of the Dollar, supported by a forecasted rise in inflationary pressures. The Loonie was up 0.01% to C$1.3508 against the U.S Dollar at the time of writing. | 7476910d-618b-4bd0-9463-e3f40b29292d |
709323.0 | 2018-12-18 00:00:00 UTC | It’s all Eyes on the FED, the FOMC Projections and the Powell Press Conference | DBO | https://www.nasdaq.com/articles/its-all-eyes-fed-fomc-projections-and-powell-press-conference-2018-12-18 | nan | nan | Earlier in the Day:
The Kiwi Dollar and the Japanese Yen were in action through the early part of the Asian session, with key economic data released including 4 th quarter consumer sentiment and 3 rd quarter current account figures out of New Zealand and November trade data out of Japan.
For the Kiwi Dollar ,
The Westpac Consumer Sentiment Index rose from 103.5 to 109.1 in the 4 th quarter.
The Kiwi Dollar moved from $0.68453 to $0.68477 upon release of the data, which preceded the 3 rd quarter current account figures.
New Zealand's annual current account deficit widened from NZ$9.54bn to NZ$10.54bn, falling beyond a forecasted NZ$10.34bn deficit, according to figures released by NZ Stats.
While the annual current account deficit was the largest since 2009, as a percentage of GDP it was 3.6% lower than the 7.8% peak recorded during the GFC
A NZ$2.2bn fall in the goods and services surplus between 2017 and 2018 was the largest contributor to the wider current account deficit for the annual deficit to Sep-18.
The income side also weighed, with foreign investor earnings rising more than income New Zealand investors made overseas.
The Kiwi Dollar moved from $0.68522 to $0.68453 upon release of the data before rising to $0.6863 at the time of writing, a gain of 0.25% for the session.
For the Japanese Yen , the trade deficit narrowed from ¥450bn to ¥737bn in November.
Exports rose by just 0.1% in November, year-on-year, falling well short of a forecasted 1.8% increase and October 8.2% rebound.
Imports jumped by 12.5%, rising above a forecasted 11.5%, whilst easing up from October's 19.9% jump.
The adjusted trade deficit widened from ¥0.29tn to ¥0.49tn, raising more questions over the Japanese economic outlook ahead of tomorrow's BoJ policy decision and press conference.
The Japanese Yen moved from ¥112.521 to ¥112.438 against the U.S Dollar, upon release of the figures, before rising to ¥112.4 at the time of writing, a gain of 0.11% for the session.
Elsewhere, the Aussie Dollar stood at $0.7196 at the time of writing, a gain of 0.21% for the session, the U.S Dollar under significant pressure ahead of today's FED policy decision and projections for next year.
The Day Ahead:
For the EUR , economic data is limited to November wholesale inflation figures out of Germany, which will unlikely have a material influence on the EUR, with focus through the day being on today's FED monetary policy decision and FOMC economic projections that could see monetary policy convergence in spite of Draghi's dovish tones at the last ECB press conference.
On the geo-political front, there was some much needed good news, with the Italian coalition government reaching an agreement with the EU on its 2019 budget, the 2019 budget reduced from an originally drafted 2.4% of GDP to 2.04% of GDP. Perhaps of greater significance was a shift in the coalition's stance with the EU, the coalition clearly unwilling to stand up against the Establishment in order to avoid sanctions and more.
At the time of writing, the EUR was up 0.18% to $1.1382, with sentiment towards the FED the key driver today.
For the Pound , economic data scheduled for release later this morning includes November inflation figures together with December's CBI industrial trend orders.
With the BoE monetary policy decision on Thursday, we can expect some response to the inflation figures, though direction off the back of the stats will likely be more muted than usual as the market tracks chatter from parliament on a possible vote of no confidence, a second Referendum and any comments from Brussels on the current deal that looks doomed for failure come 14 th January.
At the time of writing, the Pound up 0.21% to $1.2665, with Brexit chatter and parliamentary noise the key drivers today.
Across the Pond , economic data is limited to November existing home sales figures and 3 rd quarter current account data that are likely to be ignored by the markets, with the FED interest rate decision and the all-important FOMC economic projections in focus through the day.
In the September quarter end, the FOMC projections pointed to a further 3 rate hikes for next year, while there are some who question whether the FED will make a move this month. The FED projections on both the rate path and the economic growth figures will be key for the Dollar and the equity markets, assuming they make a move this month.
U.S President Trump has made things a little more difficult by calling for a hold on rates as recently as Monday, with an unexpected hold later today likely to bring into question the FED's independence. There have only been few FOMC members calling for a pause this month, so an actual pause would be a surprise for the markets and would certainly hit the Dollar.
At the time of writing, the Dollar Spot Index was down 0.22% to 96.890.
For the Loonie , economic data scheduled for release later today includes November inflation figures that will have an impact on the Loonie, though with concerns over the economy and the slide in crude oil prices , the response may not be as pronounced as usual.
The weekly EIA crude oil inventory numbers will provide direction outside of the stats, while the effects of softer inflation numbers may be offset by a dovish FED, should the economic projections call for a pause in rate hikes next year.
The Loonie was up 0.10% to C$1.3453 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The adjusted trade deficit widened from ¥0.29tn to ¥0.49tn, raising more questions over the Japanese economic outlook ahead of tomorrow's BoJ policy decision and press conference. With the BoE monetary policy decision on Thursday, we can expect some response to the inflation figures, though direction off the back of the stats will likely be more muted than usual as the market tracks chatter from parliament on a possible vote of no confidence, a second Referendum and any comments from Brussels on the current deal that looks doomed for failure come 14 th January. The FED projections on both the rate path and the economic growth figures will be key for the Dollar and the equity markets, assuming they make a move this month. | Earlier in the Day: The Kiwi Dollar and the Japanese Yen were in action through the early part of the Asian session, with key economic data released including 4 th quarter consumer sentiment and 3 rd quarter current account figures out of New Zealand and November trade data out of Japan. New Zealand's annual current account deficit widened from NZ$9.54bn to NZ$10.54bn, falling beyond a forecasted NZ$10.34bn deficit, according to figures released by NZ Stats. For the Loonie , economic data scheduled for release later today includes November inflation figures that will have an impact on the Loonie, though with concerns over the economy and the slide in crude oil prices , the response may not be as pronounced as usual. | Earlier in the Day: The Kiwi Dollar and the Japanese Yen were in action through the early part of the Asian session, with key economic data released including 4 th quarter consumer sentiment and 3 rd quarter current account figures out of New Zealand and November trade data out of Japan. The Day Ahead: For the EUR , economic data is limited to November wholesale inflation figures out of Germany, which will unlikely have a material influence on the EUR, with focus through the day being on today's FED monetary policy decision and FOMC economic projections that could see monetary policy convergence in spite of Draghi's dovish tones at the last ECB press conference. Across the Pond , economic data is limited to November existing home sales figures and 3 rd quarter current account data that are likely to be ignored by the markets, with the FED interest rate decision and the all-important FOMC economic projections in focus through the day. | Earlier in the Day: The Kiwi Dollar and the Japanese Yen were in action through the early part of the Asian session, with key economic data released including 4 th quarter consumer sentiment and 3 rd quarter current account figures out of New Zealand and November trade data out of Japan. The Kiwi Dollar moved from $0.68453 to $0.68477 upon release of the data, which preceded the 3 rd quarter current account figures. At the time of writing, the EUR was up 0.18% to $1.1382, with sentiment towards the FED the key driver today. | b77be3e7-b0fe-44be-adb2-bf7a242662c6 |
709324.0 | 2018-12-16 00:00:00 UTC | Inflation and Trade Data Put the EUR in Focus, with an Eye Needed on the GBP | DBO | https://www.nasdaq.com/articles/inflation-and-trade-data-put-eur-focus-eye-needed-gbp-2018-12-16 | nan | nan | Earlier in the Day:
There were no material stats released through the Asian session this morning, leaving the markets to focus on news from the weekend the mid-year economic and fiscal outlook report (MYEFO) out of Australia and what lies ahead for the week.
For the Aussie Dollar , the MYEFO report was a positive, with a struggling Australian coalition government now on the precipice of delivering a surplus for the financial year 2019/20, after bringing the 2018/19 forecasted deficit down from a budget forecasted A$14.5bn to just A$5.2bn. Forecasts are for a surplus of A$4.1bn for FY2019/20.
Throwing in tax cuts, an extended growth cycle in the Australian economy and unemployment levels down at 2012 lows, it's not all bad for a government behind early in the opinion polls. The report also reflected an unspent allocation of an additional A$10.8bn for future expenditures that could also include further tax cuts in the New Year to support household spending and offset bruising household debt levels.
The latest MYEFO report comes as the latest polls show the ruling coalition party is sitting 10 points behind the Labour Party, with the federal elections slated for next May.
There are some negatives to take the shine off the coalition government's latest achievement, with a stark warning from the OECD for Australia to make contingency plans for a severe collapse in the housing market. A collapse would certainly bring into question whether Australia would be able to enjoy a 28 th consecutive year of economic growth, a housing collapse together with a combination of a material slowdown in the Chinese economy and slide in coal and iron ore prices induced by the U.S- China trade war a final nail in the coffin.
The RBA has continued to sit on its hands, from a policy perspective and even talked of the possibility of a rate cut down the road. This comes as the OECD requests for rates to be raised to limit further imbalances accumulating, which could be just at the wrong time for the RBA, with global economic indicators beginning to show patches of red, largely attributed to the U.S - China trade war.
Rising rates would certainly eat into household disposable incomes and weigh on consumer spending and further government tax cuts may not be enough to offset the combined effect of rising rates and falling house prices on consumer sentiment that may ultimately hurt the coalition government and the Aussie Dollar as a result.
The Aussie Dollar moved from $0.71765 to $0.7172 upon release of the MYEFO report, before rising to $0.7178 at the time of writing, a gain of just 0.08% for the session.
Elsewhere, the Japanese Yen stood at ¥113.548 against the U.S Dollar, a loss of 0.08% for the session, with the Kiwi Dollar also in the red, down 0.04% to $0.6794.
The Day Ahead:
For the EUR , economic data scheduled for release is limited to November inflation figures and October trade data out of the Eurozone. While any softer annual rate of inflation numbers will likely hit the EUR, there will likely be a greater sensitivity to the trade data, any narrowing to the trade surplus being another alarm bell for the economy.
Any upbeat numbers may have a relatively muted impact on the EUR. Concerns over the Eurozone economy and outlook may well pin back any EUR rally in response to the numbers.
Forecasts are skewed to the negative for the EUR on the inflation numbers. Outside of the numbers, a full circle by the Italian coalition government on its 2019 budget will provide some support to the EUR, though with the ECB seeing downside risk to the economy next year, it may not be enough for the EUR.
At the time of writing, the EUR was up 0.05% to $1.1312, with today's stats the key driver today.
For the Pound , while it's a quiet start to the week on the data front, with no material stats scheduled for release through the day, Brexit chatter will more than likely have an influence through the day.
With the British PM and the EU locking horns at last week's EU Summit, will Theresa May take the deal to a parliamentary vote to sink it? The threat was made and there is a chance of a vote this week that could see the Pound take another hit.
One possible line of support could come from the rumour mills, with talk of a second vote on membership with the EU doing its rounds.
At the time of writing, the Pound up 0.01% to $1.2584, with Brexit chatter the key driver today.
Across the Pond , it's a relatively quiet day on the data front, with key stats scheduled for release limited to the NY Empire State Manufacturing Index numbers for December.
Forecasts are Dollar negative, though direction for the Dollar won't just be hinged on the stats, with sentiment towards policy ahead of this week's FED decision also there to consider, along with Trump and trade war chatter.
At the time of writing, the Dollar Spot Index was down 0.03% to 97.414.
For the Loonie , economic data is limited to October foreign security purchases, which are unlikely to have a material impact on the day. Pressure on the Loonie remains, with crude oil prices having taken a hit of late and the BoC taking a more dovish outlook on the economy.
The Loonie was up 0.04% to C$1.3378 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: There were no material stats released through the Asian session this morning, leaving the markets to focus on news from the weekend the mid-year economic and fiscal outlook report (MYEFO) out of Australia and what lies ahead for the week. There are some negatives to take the shine off the coalition government's latest achievement, with a stark warning from the OECD for Australia to make contingency plans for a severe collapse in the housing market. This comes as the OECD requests for rates to be raised to limit further imbalances accumulating, which could be just at the wrong time for the RBA, with global economic indicators beginning to show patches of red, largely attributed to the U.S - China trade war. | The latest MYEFO report comes as the latest polls show the ruling coalition party is sitting 10 points behind the Labour Party, with the federal elections slated for next May. The Day Ahead: For the EUR , economic data scheduled for release is limited to November inflation figures and October trade data out of the Eurozone. Across the Pond , it's a relatively quiet day on the data front, with key stats scheduled for release limited to the NY Empire State Manufacturing Index numbers for December. | Rising rates would certainly eat into household disposable incomes and weigh on consumer spending and further government tax cuts may not be enough to offset the combined effect of rising rates and falling house prices on consumer sentiment that may ultimately hurt the coalition government and the Aussie Dollar as a result. The Day Ahead: For the EUR , economic data scheduled for release is limited to November inflation figures and October trade data out of the Eurozone. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Forex Technical Analysis -Trigger Point for Next Downside Acceleration is 1.1267 Open UBI Ecosystem Launched by GoodDollar and Partners in Berlin Inflation and Trade Data Put the EUR in Focus, with an Eye Needed on the GBP The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Aussie Dollar moved from $0.71765 to $0.7172 upon release of the MYEFO report, before rising to $0.7178 at the time of writing, a gain of just 0.08% for the session. Forecasts are skewed to the negative for the EUR on the inflation numbers. The Loonie was up 0.04% to C$1.3378 against the U.S Dollar at the time of writing. | df9385f3-b6f1-4089-9739-1eb0b234509c |
709325.0 | 2018-12-13 00:00:00 UTC | China Data Weighs Early, with Stats Putting the EUR and USD in Focus | DBO | https://www.nasdaq.com/articles/china-data-weighs-early-stats-putting-eur-and-usd-focus-2018-12-13 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was on the heavier side, with key stats released including November's Business PMI out of New Zealand, 4 th quarter Tankan numbers out of Japan ahead of finalized October industrial production numbers due out later in the morning. Out of China, November's fixed asset investment, industrial production and retail sales figures were also released.
For the Kiwi Dollar , the NZ Business PMI eased by 0.2 points to 53.5 in November, while holding above the long-term average of 53.4.
Production expanded at a slower pace in November, with the sub-index falling from 52.9 to 51.5.
The employment sub-index fell from 52.4 to 51.3, with new orders also on decline, falling from 57 to 56.3.
While the numbers were negative relative to October's figures, they were still well ahead of levels hit through the 3 rd quarter, production having contracted in both July and September, with employment having contracted in August.
On the rise were finished stocks, which increased from 53.1 to 54.2 and deliveries that rose from 50.8 to 52.5.
The Kiwi Dollar moved from $0.68587 to $0.68579 upon release of the figures, before easing to $0.6797 at the time of writing, down 0.89% for the session.
For the Japanese Yen, the morning's 4 th quarter Tankan survey numbers provided some sense of what lies ahead:
The Tankan All Big Industry CAPEX rose by 14.3% for the 4 th quarter, coming in ahead of a forecasted 12.7% and 3 rd quarter 13.4%.
The Tankan Big Manufacturing Outlook index eased back from a 3 rd quarter 19 to 15, falling beyond a forecasted 16.
The Tankan Large Manufacturers Index held steady at 19, coming in ahead of a forecasted 17 in the 4 th
The Tankan Large Non-Manufacturers Index rose from 22 to 24 in the 4 th quarter, which was better than a forecasted 21.
From the numbers, Companies held onto their CAPEX plans for the FY2018 according to forecasts, with manufacturing firms forecasting a 15.6% rise in CAPEX, down 1.6% from the previous quarter, while non-manufacturers revised up forecasts by 2.3% to 13.5%.
While business conditions for large manufacturers remained unchanged, the more pessimistic outlook among big manufacturers will be a concern for the BoJ, with the ongoing U.S - China trade war and a weaker global economic outlook weighing on business optimism.
The Japanese Yen moved from ¥113.581 to ¥113.587 against the U.S Dollar upon release of the figures, before rising to ¥113.45 at the time of writing, a gain of 0.16% for the session.
Out of China ,
Fixed Asset Investment rose by 5.9% year-on-year in November, coming in ahead of October's 5.7% rise, whilst in line with forecasts.
Industrial production rise by 5.4% year-on-year in November, which was well below a forecasted and October. 5.9% increase.
Retail sales rose by 8.1%, falling short of a forecasted 8.8% and an October 8.6% increase year-on-year.
The Aussie Dollar moved from $0.71957 to $0.71837 upon release of the figures before easing to $0.7183 at the time of writing, a loss of 0.61% for the session, with risk aversion and more evidence of the negative effects of the ongoing U.S - China trade war weighing on the Aussie and Kiwi, while supporting the Yen.
The Day Ahead:
For the EUR , economic data scheduled for release out of the Eurozone is on the heavier side, with key stats including finalized November inflation numbers out of Spain and Italy, Eurozone wage growth figures for the 3 rd quarter and prelim December private sector PMI numbers out of France, Germany and the Eurozone.
We will expect the EUR to be sensitive to the wage growth, German manufacturing and Eurozone composite, though there will be some relief following a lowering of tariffs on EU car imports into China.
Outside the numbers, geo-political risk will be an ever present influence, with the U.S President yet to truly threaten tariffs on EU cars, the latest move by China giving the U.S president food for thought.
At the time of writing, the EUR was down 0.03% to $1.1356, with today's stats the key driver today.
For the Pound , it's a quiet day on the data front, leaving the markets to consider the events overnight in Brussels and what lies ahead for Theresa May and the Brexit deal, the parliamentary vote now expected to take place in mid-January.
At the time of writing, the Pound down 0.13% to $1.2626, with Brexit chatter the key driver today.
Across the Pond , it's a busier day ahead on the data front, with key stats scheduled for release including November retail sales and industrial production numbers, prelim December private sector PMI numbers and October's business inventory numbers.
We will expect the Dollar to respond to the stats, as the markets look to gauge the direction of the economy ahead of next week's FED meeting and release of the FOMC economic projections for next year.
Outside of the stats, we can expect chatter from the Oval Office to continue to play a hand, trade talks and the wall and a possible government shut down there for consideration through the day.
At the time of writing, the Dollar Spot Index was up 0.08% to 97.137.
For the Loonie , it's yet another quiet week on the data front, leaving the Loonie to respond to economic indicators out of China, Europe and the U.S, any weak figures likely to be a negative for crude oil prices and the Loonie through the day.
The Loonie was down 0.12% to C$1.3371 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | We will expect the EUR to be sensitive to the wage growth, German manufacturing and Eurozone composite, though there will be some relief following a lowering of tariffs on EU car imports into China. For the Pound , it's a quiet day on the data front, leaving the markets to consider the events overnight in Brussels and what lies ahead for Theresa May and the Brexit deal, the parliamentary vote now expected to take place in mid-January. We will expect the Dollar to respond to the stats, as the markets look to gauge the direction of the economy ahead of next week's FED meeting and release of the FOMC economic projections for next year. | Earlier in the Day: Economic data released through the Asian session this morning was on the heavier side, with key stats released including November's Business PMI out of New Zealand, 4 th quarter Tankan numbers out of Japan ahead of finalized October industrial production numbers due out later in the morning. The Day Ahead: For the EUR , economic data scheduled for release out of the Eurozone is on the heavier side, with key stats including finalized November inflation numbers out of Spain and Italy, Eurozone wage growth figures for the 3 rd quarter and prelim December private sector PMI numbers out of France, Germany and the Eurozone. Across the Pond , it's a busier day ahead on the data front, with key stats scheduled for release including November retail sales and industrial production numbers, prelim December private sector PMI numbers and October's business inventory numbers. | Earlier in the Day: Economic data released through the Asian session this morning was on the heavier side, with key stats released including November's Business PMI out of New Zealand, 4 th quarter Tankan numbers out of Japan ahead of finalized October industrial production numbers due out later in the morning. The Day Ahead: For the EUR , economic data scheduled for release out of the Eurozone is on the heavier side, with key stats including finalized November inflation numbers out of Spain and Italy, Eurozone wage growth figures for the 3 rd quarter and prelim December private sector PMI numbers out of France, Germany and the Eurozone. Across the Pond , it's a busier day ahead on the data front, with key stats scheduled for release including November retail sales and industrial production numbers, prelim December private sector PMI numbers and October's business inventory numbers. | The Kiwi Dollar moved from $0.68587 to $0.68579 upon release of the figures, before easing to $0.6797 at the time of writing, down 0.89% for the session. Industrial production rise by 5.4% year-on-year in November, which was well below a forecasted and October. Retail sales rose by 8.1%, falling short of a forecasted 8.8% and an October 8.6% increase year-on-year. | 34989fbf-d560-4f99-83a3-7d9ff6a03c62 |
709326.0 | 2018-12-11 00:00:00 UTC | It’s Tough Times for Theresa May and the Pound, with More Vol to Come | DBO | https://www.nasdaq.com/articles/its-tough-times-theresa-may-and-pound-more-vol-come-2018-12-11 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was on the lighter side, with key stats limited to Westpac consumer sentiment numbers out of Australia and October core machinery orders out of Japan. Later in the morning Japan's October Tertiary Industry Activity Index is due out, though we don't anticipate any major response by the Yen.
For the Aussie Dollar , the Westpac Consumer Sentiment Index rose by just 0.1% to 104.4 in December, following a 2.8% rise in November.
The sub-index for finances, next 12-months fell by 0.6%, following November's 3.2% rise, with the sub-index for family finances vs a year ago falling by 1.9%.
The sub-index for the economy over the next 12-months rose by 0.1%, while the sub-index for the economic outlook over the next 5-years fell by 1.5%.
The time to buy a major household item sub-index increased by 3.7%, while the time to buy a dwelling fell by 3.9% and up 9.7% year-on-year.
The Unemployment expectations index rose by 0.5%, while down 5.2% from a year ago, with the house price expectations index up 1%, whilst down 25.9% year-on-year.
The Aussie Dollar moved from $0.72108 to $0.72130 upon release of the figures, before rising to $0.7221 at the time of writing, a gain of 0.21% for the session.
For the Japanese Yen , core machinery orders rose by just 4.5% year-on-year, coming up well short of a forecasted 5.9% rise, following September's 7% slide.
Month-on-month, core machinery orders rose by 7.6%, coming up well short of a forecasted 10.2% rise, the recovery failing to reverse September's 18.3% slide.
The Japanese Yen moved from ¥113.43 to ¥113.341 against the U.S Dollar, upon release of the figures, which reflected a relatively subdued rebound following the natural disasters that had weighed on the September numbers. At the Yen stood at ¥113.45, down 0.06% for the session.
Elsewhere, the Kiwi Dollar was up 0.22% to $0.6892 at the time of writing, with the release on bail of HuaWei CFO Wanzhou providing support for risk appetite, with Trump comments on a willingness to intervene should China agree on a favourable trade agreement also there to consider.
In the equity markets , a choppy U.S session failed to deter investors who found some risk appetite through the early morning, the Nikkei leading the way with a 1.64% gain at the time of writing. The Hang Seng and CSI300 saw more modest gains of 0.07% and 0.48% respectively, while the ASX200 rose by 0.55%.
The Day Ahead:
For the EUR , economic data is limited to October industrial production numbers out of the Eurozone, which are forecasted to be EUR positive, though following an unexpected slide in production out of Germany, it could be a negative for the EUR later this morning.
Outside of the numbers, noise from Capitol Hill could deliver a boost for the EUR, with threats of a government shut down there to consider, though when considering the issues the EUR is facing at present, including the Italian coalition government, the French President's latest fiscal move and the state of the Eurozone economy in general, not to mention the possibility of U.S tariffs on EU cars, the negative bias remains for now.
At the time of writing, the EUR was up 0.14% to $1.1333.
For the Pound , things have gone from bad to worse, with the British Prime Minister's position at the helm under threat as the Tory Party implodes over the Brexit deal and the British PM's decision to delay the parliamentary vote that had been scheduled for Tuesday.
From a political preservation perspective, May had little choice but to delay the vote in the knowledge of a vote of no confidence possible coming in response. Survival is in doubt with news hitting the wires that the required minimum 48 conservative MP letters of no support have already been sent.
Sir Graham Brady, chair of the backbench 1922 committee, has reportedly requested a meeting with the British PM later today, the 1922 committee chair being the addressee of letters from party members seeking a vote of no confidence.
Progress on Theresa May's EU whirlwind tour will be key to prevent a further slide in the Pound, but it may be too late for the PM, a part vote next in the sequence should the 48 letters have already been received.
At the time of writing, the Pound was up 0.14% to $1.2505 and, with no material stats scheduled for release through the day, focus will be on Parliament and Theresa May's Brexit talks.
Across the Pond , while economic data is on the lighter side, we can expect some impact, November inflation figures scheduled for release this afternoon. The Dollar showed some response to the better than expected core wholesale inflation figures released on Tuesday and we can expect the same if consumer prices move in the same path.
Forecasts are for an uptick in the annual rate of core inflation to 2.2% that would support the FED's December hike and question whether the FED can take the foot off the gas through next year.
Outside of the stats, chatter from Capitol Hill will be in focus, the threat of a government shutdown and trade talks between the U.S and China to consider through the day.
At the time of writing, the Dollar Spot Index was down 0.01% to 97.379.
For the Loonie , it's another quiet day on theeconomic calendar leaving direction through the day in the hands of crude oil prices and chatter from Capitol Hill. There was some good news for the Loonie, with HuaWei CFO Wanzhou being released on bail, though how things progress from here will be key, with China ready to respond.
The Loonie was up 0.12% to C$1.3374 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning was on the lighter side, with key stats limited to Westpac consumer sentiment numbers out of Australia and October core machinery orders out of Japan. Elsewhere, the Kiwi Dollar was up 0.22% to $0.6892 at the time of writing, with the release on bail of HuaWei CFO Wanzhou providing support for risk appetite, with Trump comments on a willingness to intervene should China agree on a favourable trade agreement also there to consider. In the equity markets , a choppy U.S session failed to deter investors who found some risk appetite through the early morning, the Nikkei leading the way with a 1.64% gain at the time of writing. | Earlier in the Day: Economic data released through the Asian session this morning was on the lighter side, with key stats limited to Westpac consumer sentiment numbers out of Australia and October core machinery orders out of Japan. For the Japanese Yen , core machinery orders rose by just 4.5% year-on-year, coming up well short of a forecasted 5.9% rise, following September's 7% slide. The Day Ahead: For the EUR , economic data is limited to October industrial production numbers out of the Eurozone, which are forecasted to be EUR positive, though following an unexpected slide in production out of Germany, it could be a negative for the EUR later this morning. | Earlier in the Day: Economic data released through the Asian session this morning was on the lighter side, with key stats limited to Westpac consumer sentiment numbers out of Australia and October core machinery orders out of Japan. The Aussie Dollar moved from $0.72108 to $0.72130 upon release of the figures, before rising to $0.7221 at the time of writing, a gain of 0.21% for the session. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Price Forecast - Euro gives up the gains USD/JPY Price Forecast - US dollar continues to be resilient EUR/USD Price Forecast - EUR/USD Range Bound Ahead of US CPI Data Release The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Aussie Dollar moved from $0.72108 to $0.72130 upon release of the figures, before rising to $0.7221 at the time of writing, a gain of 0.21% for the session. At the time of writing, the EUR was up 0.14% to $1.1333. The Loonie was up 0.12% to C$1.3374 against the U.S Dollar at the time of writing. | 0b29c9ae-8c1f-49e1-881d-cd86469490c6 |
709327.0 | 2018-12-10 00:00:00 UTC | Brexit and U.S – China Trade Talks Put the GBP and USD in the Spotlight | DBO | https://www.nasdaq.com/articles/brexit-and-us-china-trade-talks-put-gbp-and-usd-spotlight-2018-12-10 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was on the heavier side, with key stats including November electronic card retail sales out of New Zealand, 4 th quarter BSI Large Manufacturing Conditions numbers out of Japan and 3 rd quarter house price figures and November business confidence numbers out of Australia.
Later in the day, new loan and outstanding loan growth numbers will be released out of China alongside FDI numbers that will also influence the broader market, new loans to provide some guidance on economic activity through the 4 th quarter.
For the Kiwi Dollar , month-on-month electronic card retail sales fell by 0.4% in November, reversing October's 0.1% increase.
According to figures released by NZ Stats,
Falling fuel prices were a drag on spending, with spending on fuel sliding by 7.2% compared with October 2018, the largest fall since November 2008, the fall in spending coming as average fuel prices fell by around 20 cents a litre.
Spending increased in four of the retail sectors, the largest rise being recorded in hospitality and durables, which saw spending up by 1.3% and by 0.8% respectively.
Year-on-year, electronic card retail sales rose by 4.6%, easing off from a 6.2% rise in October.
The Kiwi Dollar moved from $0.68725 to $0.68693 upon release of the figures, before rising to $0.6881 at the time of writing, a gain of 0.15% for the session.
For the Japanese Yen , the BSI Large Manufacturing Conditions index fell from 6.50 to 5.50 for the 4 th quarter.
The decline was largely expected, with concerns over the effects of the U.S - China trade war and signs of a slowing down in economic growth, in key economies, weighing on sentiment.
The Japanese Yen moved from ¥113.170 to ¥113.219 against the U.S Dollar upon release of the figures. At the time of writing, the Japanese Yen stood at ¥113.06, up 0.24% for the session.
For the Aussie Dollar ,
The house price index fell by a quarter-on-quarter 1.5% in the 3 rd quarter, which in line with a forecasted 1.5% following a 2 nd quarter 0.7% decline.
According to figures released by the ABS:
Melbourne property prices recorded a 3 rd consecutive quarter fall, down by 2.6% and a first annual decline (-1.5%) since the 3 rd quarter of 2012.
Sydney price fell by 1.9%, with the fall in prices across the two states no longer being confined to the more expensive end of the real estate sector, declines also being noted in the medium and lower tiers of the market.
Tightening credit availability and falling prices weighed on activity across both investor and owner occupiers.
Year-on-year, residential property prices fell by 1.9%, with declines being recorded in Sydney (-4.4%); Darwin (-4.4%); Melbourne (-1.5%) and Perth (0.5%).
The NAB Business Confidence Index came in at 3.00, easing from October's 4.00. Looking at the numbers:
Both business conditions and confidence eased back in November, with business confidence falling below its long run average.
Forward orders fell in the month to sit below its long run average for the first time since late 2016.
The retail sector was the main area of concern being the only sector to report deteriorating business conditions.
Falling profitability and lower turnover weighed, while employment found some upside.
Business conditions eased significantly in construction and declined in transport, manufacturing and mining.
Conditions in the retail sector reflected a weak consumer consumption environment that has continued into the 4 th The weak spending was attributed to weak wage growth, high levels of household debt and falling house prices.
The Aussie Dollar moved from $0.71869 to $0.71863 upon release of the figures, before rising to $0.7200 at the time of writing, a gain of 0.14% for the session.
In the equity markets , news of trade talks between Beijing and the U.S administration hit the wires in the early hours, driving a sharp rebound in the Asian equity markets, with the Hang Seng recovering more than 100 points to move into positive territory at the time of writing, 0.08%. The Nikkei also bounced back, up 0.14%, with the CSI300 up 0.42%.
The Day Ahead:
For the EUR , economic data scheduled for release includes 3 rd quarter nonfarm payroll figures out of France and December economic sentiment numbers out of Germany and the Eurozone.
Focus will be on the December economic sentiment numbers out of Germany, though we can expect some influence from the Eurozone headline number ahead of Thursday's ECB monetary policy decision and press conference, a convergence in policy outlook having provided the EUR with a boost at the start of the week.
At the time of writing, the EUR was up 0.07% to $1.1364, with today's stats the key driver through the day.
For the Pound , there's Brexit trauma following Theresa May's decision on Monday to pull the plug on today's parliamentary vote. The British PM's decision to delay the vote and attempt to look for a renegotiation with the EU was met with EU member states saying that there would be no renegotiation. EU leaders have said that they would be prepared to make assurances over the backstop plan, Ireland and the risk of a hard border continuing to be a bone of contention.
The markets will now need to wait until Thursday, where a meeting has been called to discuss Theresa May's proposals and also for EU member states to discuss their readiness for a no-deal outcome.
Economic data scheduled for release through the early part of the day includes October's average earnings, unemployment numbers and November claimant count figures that will likely be brushed aside, with Brexit chatter and noise from parliament likely to be the key drivers through the day.
At the time of writing, the Pound was up 0.06% to $1.2569.
Across the Pond , it's another quiet day on the data front, with key stats limited to November wholesale inflation figures. Following a shift in sentiment towards FED policy for next year, softer inflation numbers could really hit the Dollar ahead of tomorrow's consumer price numbers.
Outside of the numbers, any news updates on Hua Wei CFO Meng Wanzhou's arrest and Chinese response will also have an influence, with any rise in tensions likely to favour the Dollar.
At the time of writing, the Dollar Spot Index was down 0.08% to 97.138, with news of trade talks between the U.S and China hitting the wires leading to a shift in rest appetite through the Asian session.
For the Loonie , there are no material stats scheduled for release through the day, leaving the Loonie in the hands of market risk sentiment and direction in crude oil prices , both likely dictated by chatter from Beijing and the Oval Office.
The Loonie was up 0.03% to C$1.3394 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The decline was largely expected, with concerns over the effects of the U.S - China trade war and signs of a slowing down in economic growth, in key economies, weighing on sentiment. Outside of the numbers, any news updates on Hua Wei CFO Meng Wanzhou's arrest and Chinese response will also have an influence, with any rise in tensions likely to favour the Dollar. At the time of writing, the Dollar Spot Index was down 0.08% to 97.138, with news of trade talks between the U.S and China hitting the wires leading to a shift in rest appetite through the Asian session. | Earlier in the Day: Economic data released through the Asian session this morning was on the heavier side, with key stats including November electronic card retail sales out of New Zealand, 4 th quarter BSI Large Manufacturing Conditions numbers out of Japan and 3 rd quarter house price figures and November business confidence numbers out of Australia. Looking at the numbers: Both business conditions and confidence eased back in November, with business confidence falling below its long run average. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Cash - ABC, Litecoin and Ripple Daily Analysis - 11/12/18 GBP/JPY Price Forecast - British pound struggles again on Monday S&P 500 Price Forecast - stock markets crater The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning was on the heavier side, with key stats including November electronic card retail sales out of New Zealand, 4 th quarter BSI Large Manufacturing Conditions numbers out of Japan and 3 rd quarter house price figures and November business confidence numbers out of Australia. According to figures released by NZ Stats, Falling fuel prices were a drag on spending, with spending on fuel sliding by 7.2% compared with October 2018, the largest fall since November 2008, the fall in spending coming as average fuel prices fell by around 20 cents a litre. Economic data scheduled for release through the early part of the day includes October's average earnings, unemployment numbers and November claimant count figures that will likely be brushed aside, with Brexit chatter and noise from parliament likely to be the key drivers through the day. | Earlier in the Day: Economic data released through the Asian session this morning was on the heavier side, with key stats including November electronic card retail sales out of New Zealand, 4 th quarter BSI Large Manufacturing Conditions numbers out of Japan and 3 rd quarter house price figures and November business confidence numbers out of Australia. Looking at the numbers: Both business conditions and confidence eased back in November, with business confidence falling below its long run average. The Day Ahead: For the EUR , economic data scheduled for release includes 3 rd quarter nonfarm payroll figures out of France and December economic sentiment numbers out of Germany and the Eurozone. | 06170b3a-ec83-48f3-a63d-4d61a5c3e19a |
709328.0 | 2018-12-06 00:00:00 UTC | NFP and Wage Growth Distract the Markets and the USD? | DBO | https://www.nasdaq.com/articles/nfp-and-wage-growth-distract-markets-and-usd-2018-12-06 | nan | nan | Earlier in the Day:
Economic data was on the lighter side through the Asian session this morning, with key stats limited to October household spending figures out of Japan.
For the Japanese Yen , household spending fell by 0.3% year-on-year in October, which was worse than a forecasted 1.2% rise, following September's 1.6% fall. Month on-month, household spending jumped by 1.8%, coming in ahead of a forecasted 1.4% rise and a 4.5% slide in September.
The Japanese Yen moved from ¥112.721 to ¥112.706 against the U.S Dollar upon release of the figures, before easing to ¥112.71 at the time of writing, down just 0.03% for the session.
Elsewhere, the Aussie Dollar was down 0.19% to $0.7222, while the Kiwi Dollar managed to hold its ground, up 0.04% to $0.6880 at the time of writing, the rebound in the U.S equity markets on Thursday easing market panic early on.
In the Asian equity markets, the Nikkei was up 0.20% at the time of writing, the Yen's move to ¥112 levels limiting the upside, while the ASX200 and CSI300 were up 0.39% and by 0.36% respective, with the Hang Seng up 0.31% as investors trade carefully following Hua Wei CFO's arrest on Thursday.
The Day Ahead:
For the EUR , economic data scheduled for release through the day includes October industrial production numbers out of Germany and 3 rd estimate GDP numbers for the 3 rd quarter out of the Eurozone.
Outside the numbers, we can expect chatter on the Italian coalition government's budget to provide some direction, news of the PM being willing to make amendments to avoid sanctions providing some EUR support alongside the weaker Greenback.
At the time of writing, the EUR was up flat at $1.1374, with today's stats the key driver through the day.
For the Pound , economic data is limited to house price figures that are unlikely to have an impact on the Pound as the markets continue to focus on Parliament and the Brexit deal.
Theresa May has almost made it through the week, but with talk of another Referendum gathering momentum, those looking to remain within the EU have even more incentive to vote against the deal on Tuesday, assuming that there is no delay.
If the deal is not passed, a number of outcomes are possible and, while some are quite dire for the Pound, a 2 nd EU Referendum could restore order for the Establishment and ultimately the Pound. The negatives would be a vote of no confidence, which one would expect to be inevitable should the deal be rejected and we can also expect another General Election to be called, which would raise the prospects of the Labour Party returning to office.
The big question will be whether Britain will be allowed to leave the EU without a deal or will it ultimately end in a complete reversal of the last 2 years of almost chaos.
At the time of writing, the Pound was down 0.06% at $1.2773, with Brexit chatter continuing to be the key driver through the day.
Across the Pond , it's a big day for the Dollar, with key stats scheduled for release including November's labour market data, with focus being on the nonfarm payroll and wage growth figures and prelim consumer sentiment numbers for December.
Outside the stats, we can expect trade war chatter to continue to influence, with Hua Wei CFO and Deputy Chair Meng Wanzhou's arrest in Canada throwing into doubt any hopes of the 90-day trade war truce actually lasting the distance.
On the policy front, FOMC member Brainard is scheduled to speak, but barring anything particularly out of the box, focus will likely remain on the stats and chatter from Beijing and the Oval Office.
At the time of writing, the Dollar Spot Index was down 0.01 to 96.799.
For the Loonie , economic data scheduled for release through the day is limited to November employment figures that could see the Loonie slide back to $1.34 levels should the figures disappoint, falling crude oil prices and a dovish central bank doing the Loonie few favours amidst the current risk aversion.
The Loonie was down 0.07% to C$1.3393 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data was on the lighter side through the Asian session this morning, with key stats limited to October household spending figures out of Japan. In the Asian equity markets, the Nikkei was up 0.20% at the time of writing, the Yen's move to ¥112 levels limiting the upside, while the ASX200 and CSI300 were up 0.39% and by 0.36% respective, with the Hang Seng up 0.31% as investors trade carefully following Hua Wei CFO's arrest on Thursday. Across the Pond , it's a big day for the Dollar, with key stats scheduled for release including November's labour market data, with focus being on the nonfarm payroll and wage growth figures and prelim consumer sentiment numbers for December. | Earlier in the Day: Economic data was on the lighter side through the Asian session this morning, with key stats limited to October household spending figures out of Japan. The Day Ahead: For the EUR , economic data scheduled for release through the day includes October industrial production numbers out of Germany and 3 rd estimate GDP numbers for the 3 rd quarter out of the Eurozone. Across the Pond , it's a big day for the Dollar, with key stats scheduled for release including November's labour market data, with focus being on the nonfarm payroll and wage growth figures and prelim consumer sentiment numbers for December. | The Day Ahead: For the EUR , economic data scheduled for release through the day includes October industrial production numbers out of Germany and 3 rd estimate GDP numbers for the 3 rd quarter out of the Eurozone. Across the Pond , it's a big day for the Dollar, with key stats scheduled for release including November's labour market data, with focus being on the nonfarm payroll and wage growth figures and prelim consumer sentiment numbers for December. For the Loonie , economic data scheduled for release through the day is limited to November employment figures that could see the Loonie slide back to $1.34 levels should the figures disappoint, falling crude oil prices and a dovish central bank doing the Loonie few favours amidst the current risk aversion. | Earlier in the Day: Economic data was on the lighter side through the Asian session this morning, with key stats limited to October household spending figures out of Japan. The Japanese Yen moved from ¥112.721 to ¥112.706 against the U.S Dollar upon release of the figures, before easing to ¥112.71 at the time of writing, down just 0.03% for the session. If the deal is not passed, a number of outcomes are possible and, while some are quite dire for the Pound, a 2 nd EU Referendum could restore order for the Establishment and ultimately the Pound. | 5b147dc9-bcb2-43df-8da8-9787d5275830 |
709329.0 | 2018-12-04 00:00:00 UTC | Christmas Comes Early for Oil & Energy ETFs | DBO | https://www.nasdaq.com/articles/christmas-comes-early-oil-energy-etfs-2018-12-04 | nan | nan | Oil, which suffered a great deal in November, lately rallied on Russia and Saudi Arabia's plans to extend their output cut deal into 2019. However, both parties are yet to confirm any fresh output cuts. Still, oil prices are likely to stay steady in the coming sessions on abating supply glut concerns (read: Brent in Bear Market: 4 Country ETFs to be Cautious About ).
Investors should note that the Organization of the Petroleum Exporting Countries (OPEC) will meet on Dec 6 in its headquarters in Vienna, Austria, to decide on the combined output policy. Market participants are now expecting an extension or a raise in the output cut limit for the near term (read: What Does the OPEC Agreement Mean for Energy ETFs? ).
Goldman Sachs believes that "a cut in OPEC and Russia production of 1.3 million barrels per day (bpd) will be required to reverse the ongoing counter-seasonally large increase in inventories."
To add to this, Canada's largest oil-producing province Alberta announced that it would cut production next year to boost prices. The plan announced on Sunday will slash output of raw crude and bitumen from Alberta by 325,000 barrels a day, or 8.7%, starting January till there is no excess inventory.
If the flurry of output cut news is not enough, the latest U.S.-China trade truce quelled heightened concerns of trade war and the resultant shrinkage in global growth for the time being. In the G-20 meet, China president Xi Jinping and U.S. President Donald Trump agreed to not announce any new tariff for 90 days (read: Trump-Jingping Truce to Boost These ETFs ).
How to Play?
Against this backdrop, investors aiming to cash in on the latest jump or expecting more strength in this liquid commodity can bet on oil and energy ETFs. Below we highlight a few choices. These ETFs gained considerably on Monday's trading session.
Play Oil
United States Oil Fund USO - Up 5.03% on Dec 3
The fund tracks the daily price movement of WTI light, sweet crude oil.
Invesco DB Oil Fund DBO - Up 5.2% on Dec 3
The fund seeks to track changes in the level of the DBIQ Optimum Yield Crude Oil Index Excess Return plus the interest income from the holdings of primarily US Treasury securities and money market income less expenses.
United States Brent OilBNO- Up 4.7% on Dec 3
The underlying index looks to track the daily changes in percentage terms of the spot price of Brent crude oil.
Bet on Energy Stocks
S&P Smallcap Energy Invesco ETF PSCE - Up 4.5% on Dec 3
The underlying index is designed to measure the overall performance of common stocks of U.S. energy companies.
Unconventional Oil & Gas Vaneck Vectors ETFFRAK)- Up 4.4% on Dec 3
The underlying MVIS Global Unconventional Oil & Gas Index tracks the overall performance of companies involved in the exploration, development, extraction, and/or production of unconventional oil and natural gas.
Dynamic Oil & Gas Services Invesco ETF PXJ - Up 3.4% on Dec 3
This product is composed of stocks of about 30 U.S. companies that assist in the production, processing and distribution of oil and gas.
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PWRSH-DB OIL FD (DBO): ETF Research Reports
PWRSH-SP SC EGY (PSCE): ETF Research Reports
US-OIL FUND LP (USO): ETF Research Reports
US BRENT OIL FD (BNO): ETF Research Reports
PWRSH-DYN OIL&G (PXJ): ETF Research Reports
VANECK-UNC O&G (FRAK): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Invesco DB Oil Fund DBO - Up 5.2% on Dec 3 The fund seeks to track changes in the level of the DBIQ Optimum Yield Crude Oil Index Excess Return plus the interest income from the holdings of primarily US Treasury securities and money market income less expenses. Click to get this free report PWRSH-DB OIL FD (DBO): ETF Research Reports PWRSH-SP SC EGY (PSCE): ETF Research Reports US-OIL FUND LP (USO): ETF Research Reports US BRENT OIL FD (BNO): ETF Research Reports PWRSH-DYN OIL&G (PXJ): ETF Research Reports VANECK-UNC O&G (FRAK): ETF Research Reports To read this article on Zacks.com click here. Still, oil prices are likely to stay steady in the coming sessions on abating supply glut concerns (read: Brent in Bear Market: 4 Country ETFs to be Cautious About ). | Click to get this free report PWRSH-DB OIL FD (DBO): ETF Research Reports PWRSH-SP SC EGY (PSCE): ETF Research Reports US-OIL FUND LP (USO): ETF Research Reports US BRENT OIL FD (BNO): ETF Research Reports PWRSH-DYN OIL&G (PXJ): ETF Research Reports VANECK-UNC O&G (FRAK): ETF Research Reports To read this article on Zacks.com click here. Invesco DB Oil Fund DBO - Up 5.2% on Dec 3 The fund seeks to track changes in the level of the DBIQ Optimum Yield Crude Oil Index Excess Return plus the interest income from the holdings of primarily US Treasury securities and money market income less expenses. Play Oil United States Oil Fund USO - Up 5.03% on Dec 3 The fund tracks the daily price movement of WTI light, sweet crude oil. | Click to get this free report PWRSH-DB OIL FD (DBO): ETF Research Reports PWRSH-SP SC EGY (PSCE): ETF Research Reports US-OIL FUND LP (USO): ETF Research Reports US BRENT OIL FD (BNO): ETF Research Reports PWRSH-DYN OIL&G (PXJ): ETF Research Reports VANECK-UNC O&G (FRAK): ETF Research Reports To read this article on Zacks.com click here. Invesco DB Oil Fund DBO - Up 5.2% on Dec 3 The fund seeks to track changes in the level of the DBIQ Optimum Yield Crude Oil Index Excess Return plus the interest income from the holdings of primarily US Treasury securities and money market income less expenses. Play Oil United States Oil Fund USO - Up 5.03% on Dec 3 The fund tracks the daily price movement of WTI light, sweet crude oil. | Invesco DB Oil Fund DBO - Up 5.2% on Dec 3 The fund seeks to track changes in the level of the DBIQ Optimum Yield Crude Oil Index Excess Return plus the interest income from the holdings of primarily US Treasury securities and money market income less expenses. Click to get this free report PWRSH-DB OIL FD (DBO): ETF Research Reports PWRSH-SP SC EGY (PSCE): ETF Research Reports US-OIL FUND LP (USO): ETF Research Reports US BRENT OIL FD (BNO): ETF Research Reports PWRSH-DYN OIL&G (PXJ): ETF Research Reports VANECK-UNC O&G (FRAK): ETF Research Reports To read this article on Zacks.com click here. Market participants are now expecting an extension or a raise in the output cut limit for the near term (read: What Does the OPEC Agreement Mean for Energy ETFs? | d729c1f6-ff88-44da-95cb-dc14ab1c43e5 |
709330.0 | 2018-12-03 00:00:00 UTC | RBA Gives the Aussie a Boost, as Focus Shifts to Brexit Debates and the GBP | DBO | https://www.nasdaq.com/articles/rba-gives-aussie-boost-focus-shifts-brexit-debates-and-gbp-2018-12-03 | nan | nan | Earlier in the Day:
It was a quieter session this morning, with economic data released through the Asian session limited to current account figures out of Australia and retail sales numbers out of the UK, neither of which had a material impact on the respective currencies or the markets in general.
Of greater significance through the morning was the release of the RBA's rate statement, with few expecting the RBA to move on rates.
For the Aussie Dollar , the RBA held rates unchanged at 1.50%, which was in line with market expectations. Salient points from the rate statement including:
There are some signs of a slowdown in global trade, partly stemming from ongoing trade tensions.
Growth in China has slowed a little.
In Australia, the economy is performing well and GDP forecasts remain at 3.5% for this year and next, before slowing in 2020.
Business conditions are positive and non-mining business investment is expected to increase.
The economy is supported by higher levels of public infrastructure investment and growth in resource exports.
Household income growth remains low, while debt levels are high and some asset prices have declined.
Terms of trade have increased and have been stronger than expected, supporting national income, while most commodity prices have declined recently.
Outlook for labour market remains positive, with the unemployment rate expected to fall further, supporting the upward trend in wage growth.
Wage growth is expected to continue, while at a gradual pace.
Housing market conditions in Sydney and Melbourne have continued to ease, with nationwide measures of rent inflation remaining low, weighing on demand for credit by investors.
Credit conditions have tightened for some borrowers, with some lenders having a reduced appetite to lend.
Inflation remains low and stable and is expected to pick up over the next couple of years, though gradual, with the central forecast sitting at 2.25% for 2019 and a touch higher the following year.
The Aussie Dollar moved from $0.73587 to $073675 upon release of the figures, before rising to $0.7369 at the time of writing, a gain of 0.0.5% for the session, the upside coming off the back of the RBA's positive views on trade terms.
Elsewhere, t he Japanese Yen stood at ¥113.32, against the U.S Dollar, the Yen up 0.3% for the session, supported by a pullback in the Asian equity markets, with the Kiwi Dollar up 0.45% to $0.6958, the Kiwi finding support from the RBA's views on trade terms and the trade war truce between the U.S and China that has weighed on demand for the Greenback.
The Day Ahead:
For the EUR , key stats through the day are limited to employment figures out of Spain that will unlikely have a material impact on the EUR, barring an unexpectedly weak number, with the EUR under near-term pressure over the threat of U.S tariffs on European cars that would materially impact the European's economic powerhouse, Germany.
Throw in the possible impact of a no-deal Brexit and the Italian coalition government, the upside is looking limited for now, which leaves the EUR susceptible to a pullback, economic data of late having provided little hope of a rebound in the Eurozone economy, in spite of some better than expected manufacturing PMI numbers released on Monday.
At the time of writing, the EUR was up 0.14% to $1.1370, with noise from the Oval Office likely to be the key driver through the day.
For the Pound , economic data is limited to November's construction PMI that will provide some direction for the Pound, forecasts being Pound negative, through with the parliamentary debate on Theresa May's Brexit deal kicking off later today, we can expect Brexit chatter to be the key driver through the day.
On the policy front, BoE Governor Carney is scheduled to speak later this morning, any negative commentary towards policy and Brexit likely to weigh.
Early in the day, the UK's BRC Retail Sales Monitor fell by 0.5% in November, partially reversing October's 1.3% rise year-on-year, the numbers coming off the back of disappointing retail sales figures for October.
At the time of writing, the Pound was up 0.11% at $1.2739, with Brexit chatter remaining the key driver through the day.
Across the Pond , there are no material stats scheduled for release through the day, leaving the Greenback exposed to FOMC member chatter, with FOMC member Williams scheduled to speak later today, as the markets begin to focus on tomorrow's FED Chair testimony that could materially weigh on the Dollar.
At the time of writing, the Dollar Spot Index was down 0.23 to 96.812, the downside coming off the back of easing demand for Treasuries and expectations of more dovish chatter from the FED chair tomorrow.
For the Loonie , stats are limited to 3 rd quarter labour productivity numbers that will have some influence on the Loonie ahead of tomorrow's BoC monetary policy decision.
The Loonie was up 0.11% to C$1.3183 against the U.S Dollar at the time of writing, with support coming from the bounce in crude oil prices .
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Aussie Dollar moved from $0.73587 to $073675 upon release of the figures, before rising to $0.7369 at the time of writing, a gain of 0.0.5% for the session, the upside coming off the back of the RBA's positive views on trade terms. Throw in the possible impact of a no-deal Brexit and the Italian coalition government, the upside is looking limited for now, which leaves the EUR susceptible to a pullback, economic data of late having provided little hope of a rebound in the Eurozone economy, in spite of some better than expected manufacturing PMI numbers released on Monday. At the time of writing, the Dollar Spot Index was down 0.23 to 96.812, the downside coming off the back of easing demand for Treasuries and expectations of more dovish chatter from the FED chair tomorrow. | Earlier in the Day: It was a quieter session this morning, with economic data released through the Asian session limited to current account figures out of Australia and retail sales numbers out of the UK, neither of which had a material impact on the respective currencies or the markets in general. Across the Pond , there are no material stats scheduled for release through the day, leaving the Greenback exposed to FOMC member chatter, with FOMC member Williams scheduled to speak later today, as the markets begin to focus on tomorrow's FED Chair testimony that could materially weigh on the Dollar. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Monthly Forecast - December 2018 GBP/USD Price Forecast - GBP/USD Trades Relatively Flat Ahead of BOE Gov Carney's Brexit Agreement Testimony Oil Monthly Forecast - December 2018 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Elsewhere, t he Japanese Yen stood at ¥113.32, against the U.S Dollar, the Yen up 0.3% for the session, supported by a pullback in the Asian equity markets, with the Kiwi Dollar up 0.45% to $0.6958, the Kiwi finding support from the RBA's views on trade terms and the trade war truce between the U.S and China that has weighed on demand for the Greenback. For the Pound , economic data is limited to November's construction PMI that will provide some direction for the Pound, forecasts being Pound negative, through with the parliamentary debate on Theresa May's Brexit deal kicking off later today, we can expect Brexit chatter to be the key driver through the day. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Monthly Forecast - December 2018 GBP/USD Price Forecast - GBP/USD Trades Relatively Flat Ahead of BOE Gov Carney's Brexit Agreement Testimony Oil Monthly Forecast - December 2018 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Housing market conditions in Sydney and Melbourne have continued to ease, with nationwide measures of rent inflation remaining low, weighing on demand for credit by investors. The Aussie Dollar moved from $0.73587 to $073675 upon release of the figures, before rising to $0.7369 at the time of writing, a gain of 0.0.5% for the session, the upside coming off the back of the RBA's positive views on trade terms. The Loonie was up 0.11% to C$1.3183 against the U.S Dollar at the time of writing, with support coming from the bounce in crude oil prices . | 99148841-ce53-403e-bbab-2ae6b934d93c |
709331.0 | 2018-12-02 00:00:00 UTC | Markets Respond to the Trade War Truce, the Greenback the Early Victim | DBO | https://www.nasdaq.com/articles/markets-respond-trade-war-truce-greenback-early-victim-2018-12-02 | nan | nan | Earlier in the Day:
It was a busy start to December, with key stats scheduled for release including manufacturing, building approval and company gross operating profit numbers out of Australia, capital spending figures out of Japan and manufacturing PMI numbers out of China.
For the Japanese Yen , capital spending rose by 4.5% in the 3 rd quarter year-on-year, coming up well short of a forecasted 8.6% rose, following a 12.8% rise in the 2 nd quarter, according to figures released by the Ministry of Finance.
The Japanese Yen moved from ¥113.737 to ¥113.730, against the U.S Dollar, upon release of the figures, before rising to ¥113.57 at the time of writing, the Yen flat for the session.
For the Aussie Dollar ,
The AIG Manufacturing Index tumbled from 58.3 to 51.3 in November, the lowest result since October 2017. According to the latest results:
5 of the 8 sectors expanded in November, while 3 were mostly stable, with the fastest pace of growth being reported in printing & reporting media (PMI: 67.6); food & beverages (57.9) and non-metallic minerals (74.9).
The input price index rose by 2.2 points to 75.0, reflecting high input costs for gas and electricity.
The F&B sector reported higher prices for raw agricultural inputs and some quality issues attributed to the drought.
The selling price index fell by 6.7 to 50.4, with the average wage index sliding by 8.2 points to 58.8, now sitting below its 12-month average 61.5.
Five of the seven activity indexes expanded in November and employment was steady, while the new orders index fell into contraction for the first time since Sep-16.
Building approvals fell by 1.5% month-on-month in October, following a 5.5% jump in September, which was worse than a forecasted 1.4% fall.
According to figures released by the ABS, the decline was attributed to a 4.8% fall in private sector dwelling excluding houses approvals, with private house approvals rising by 2.7%.
Company gross operating profits rose by 1.9% in the 3 rd quarter quarter-on-quarter, coming up short of a forecasted 2.9% rise, following on from a 2.4% rise in the 2 nd quarter.
According to the ABS:
Mining gross operating profits rose by 3.4%, with electricity, gas, water and waste services and construction seeing a 7% and 9.7% surge respectively, with arts and recreation services seeing a 9.6% jump. Accommodation and food services saw the largest jump, rising by 13.4%.
In contrast and dragging on the headline number, the largest falls in operating profits were seen in other services, which fell by 8%, manufacturing by 5.1% slide, retail trade by 2%
The Aussie Dollar moved from $0.73570 to $0.73498 upon release of the figures that came out ahead of China's private sector PMI numbers.
Out of China , the November Caixin manufacturing PMI stood at 50.2, coming in above a forecasted and October 50.1. According to the latest survey:
Total new orders saw a marginal improvement in November, though weak external demand continued to weigh on overall sales, with export orders declining further to mark an 8 th consecutive month of decline.
Production levels were unchanged for a 2 nd month in a row, with relatively subdued sales and stricter environmental policies being attributed.
Payrolls continued to fall, the rate of decline similar to October.
The Aussie Dollar moved from $0.73523 to $0.73513 upon release of the figures, before rising to $0.7358 at the time of writing, a gain of 0.71% for the session, driven by the U.S - China trade war 90 day truce.
The Day Ahead:
For the EUR , key stats scheduled for release through the day include finalized manufacturing PMI numbers out of France, Germany and the Eurozone, together with Spain and Italy's numbers, concerns over Italy's economic outlook expected to weigh should there be a further slowdown in manufacturing activity.
Outside the numbers, we can expect the markets to continue responding to the trade war truce between the U.S and China along with Brexit chatter, with the Italian coalition government's budget plans also there to consider.
A possible Trump shift in attention towards trade terms with the EU is a risk to the EUR on the day.
At the time of writing, the EUR was up 0.26% to $1.1346, with today's stats and geo-politics the key drivers through the day.
For the Pound , November's manufacturing PMI number will be in focus, the Pound in dire need of a boost as Brexit troubles continue to weigh, with chatter from parliament ultimately the key driver this week, the Brexit deal debate kicking off tomorrow ahead of the 11 th December vote.
At the time of writing, the Pound was up 0.20% at $1.2774, with Brexit news the key driver through the day.
Across the Pond , economic data scheduled for release includes November's finalised Markit manufacturing PMI and the market's preferred ISM manufacturing PMI number, which will have a greater influence on the day.
Outside of the stats, Oval Office chatter will influence following a trade war truce with China, with a scheduled FOMC member Kaplan speech also there to consider.
At the time of writing, the Dollar Spot Index was down 0.27 to 97.013, risk aversion and demand for the Dollar easing through the early part of the day.
For the Loonie , there are no material stats scheduled for release, leaving the Loonie in the hands of market sentiment towards crude oil prices ahead of this week's OPEC meeting and Wednesday's BoC interest rate decision.
The Loonie was up 0.53% to C$1.3221 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Aussie Dollar moved from $0.73523 to $0.73513 upon release of the figures, before rising to $0.7358 at the time of writing, a gain of 0.71% for the session, driven by the U.S - China trade war 90 day truce. Outside the numbers, we can expect the markets to continue responding to the trade war truce between the U.S and China along with Brexit chatter, with the Italian coalition government's budget plans also there to consider. This article was originally posted on FX Empire More From FXEMPIRE: The Week Ahead - a Trump - Xi Truce, Brexit and Monetary Policy in Focus AUD/USD and NZD/USD Fundamental Weekly Forecast - US-China Trade Developments Should Have Positive Influence USD/JPY Fundamental Daily Forecast - Could Consolidate Ahead of Powell's Testimony, NFP Report The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: It was a busy start to December, with key stats scheduled for release including manufacturing, building approval and company gross operating profit numbers out of Australia, capital spending figures out of Japan and manufacturing PMI numbers out of China. According to figures released by the ABS, the decline was attributed to a 4.8% fall in private sector dwelling excluding houses approvals, with private house approvals rising by 2.7%. In contrast and dragging on the headline number, the largest falls in operating profits were seen in other services, which fell by 8%, manufacturing by 5.1% slide, retail trade by 2% The Aussie Dollar moved from $0.73570 to $0.73498 upon release of the figures that came out ahead of China's private sector PMI numbers. | Earlier in the Day: It was a busy start to December, with key stats scheduled for release including manufacturing, building approval and company gross operating profit numbers out of Australia, capital spending figures out of Japan and manufacturing PMI numbers out of China. In contrast and dragging on the headline number, the largest falls in operating profits were seen in other services, which fell by 8%, manufacturing by 5.1% slide, retail trade by 2% The Aussie Dollar moved from $0.73570 to $0.73498 upon release of the figures that came out ahead of China's private sector PMI numbers. The Day Ahead: For the EUR , key stats scheduled for release through the day include finalized manufacturing PMI numbers out of France, Germany and the Eurozone, together with Spain and Italy's numbers, concerns over Italy's economic outlook expected to weigh should there be a further slowdown in manufacturing activity. | Earlier in the Day: It was a busy start to December, with key stats scheduled for release including manufacturing, building approval and company gross operating profit numbers out of Australia, capital spending figures out of Japan and manufacturing PMI numbers out of China. In contrast and dragging on the headline number, the largest falls in operating profits were seen in other services, which fell by 8%, manufacturing by 5.1% slide, retail trade by 2% The Aussie Dollar moved from $0.73570 to $0.73498 upon release of the figures that came out ahead of China's private sector PMI numbers. The Aussie Dollar moved from $0.73523 to $0.73513 upon release of the figures, before rising to $0.7358 at the time of writing, a gain of 0.71% for the session, driven by the U.S - China trade war 90 day truce. | e866176f-c1b8-4a3f-ad51-7e57a729ba4c |
709332.0 | 2018-11-29 00:00:00 UTC | China Manufacturing Stalls as Focus now Shifts to the G20 Summit | DBO | https://www.nasdaq.com/articles/china-manufacturing-stalls-focus-now-shifts-g20-summit-2018-11-29 | nan | nan | Earlier in the Day:
Economic data released through the Asian session was on the heavier side again this morning, with key stats including October building consent figures out of New Zealand, October labour market, inflation and industrial production figures out of Japan, private sector credit figures out of Australia and November private sector PMI numbers out of China.
For the Kiwi Dollar , building consents rose by 1.5% in October, month-on-month, reversing September's 1.3% fall, according to figures released by NZ Stats.
The increase was attributed to a jump in consents in Auckland (25%) and Wellington (23%), which were partially offset by falls in the rest of the North Island (-7.4%) and Canterbury (-10%)
Year-on-year, building consents rose by 6.7%.
The Kiwi Dollar moved from $0.68584 to $0.68585, showing little response to the figures before rising to $0.6859 at the time of writing, a loss of 0.01% for the session, the positive numbers coming off the back of a rebound in business confidence in the construction sector, according to the November ANZ Business Confidence Index figures released on Thursday.
For the Japanese Yen , the job / applications ratio eased from 1.64 to 1.62, coming up short of a forecasted 1.65, with the unemployment rate coming in at 2.4%, which was up from September's and a forecasted 2.3%.
On the inflation front, Tokyo's annual rate of core inflation held steady at 1%, which was in line with forecasts.
Providing support to the annual rate of core inflation was a 5.4% rise in prices for fuel, light and water charges, with prices also on the rise for culture and recreation (1.6%), medical care (1.3%), clothes and footwear (0.9%), education (0.8%) and housing (0.3%).
Prices for furniture and household utensils slipped by 0.2%.
The Japanese Yen moved from ¥113.4 to ¥113.415, against the U.S Dollar, upon release of the figures, which came ahead of the industrial production numbers.
Industrial production rose by 2.9% in October, according to prelim figures, coming in well above a forecasted 1.2% rise, whilst reversing September's 0.4% decline.
Industries that mainly contributed to the increase were: General-purpose and business orientated machinery, electronic parts and devices and motor vehicles.
Industries that mainly contributed to a decrease were: Production machinery and petroleum and coal products.
The Japanese Yen moved from ¥113.413 to ¥113.369, against the U.S Dollar, upon release of the figures, before rising to ¥113.40 at the time of writing, a gain of 0.07% for the session, the better than expected production numbers providing further support to a 4 th quarter recovery in the Japanese economy.
For the Aussie Dollar , month-on-month, private sector credit rose by 0.4%, in October, which was in line with forecasts and September's 0.4% rise, according to figures released by the RBA.
Housing credit rose by 0.3%, which was at the same pace as in September, while personal credit fell by 0.2%, following a 0.1% fall in September.
Supporting the upside was a 0.6% rise in business credit that was in line with September's rise.
Year-on-year, business credit rose by 4.7%, up from September's 3.9%, while housing credit saw slower growth, rising by 5.1% following September's 6.5% rise.
As was the case with the monthly figures, personal credit saw red, falling by 1.6%, with the pace of decline accelerating from September's 1%.
The Aussie Dollar moved from $0.73211 to $0.7324 upon release of the figures that came out ahead of China's private sector PMI numbers.
Out of China , private sector PMI numbers disappointed once more, with the November manufacturing PMI reporting a stall in activity, the PMI coming in at 50, falling short of a forecasted and October 50.2. Things were slightly better for the services sector, with the PMI coming in at 53.4, falling short of a forecasted 53.8 and October's 53.9, while holding well above 50.0.
The ongoing trade war between the U.S and China continues to impact in spite of China's trade figures holding up in recent months, the real effects of the ongoing trade war yet to be truly reflected in the numbers.
New export orders were reported to have contracted for a 6 th consecutive month in the manufacturing sector, whilst seeing a slight improvement in November.
The Aussie Dollar moved from $0.73190 to $0.73188 upon release of the figures, before easing to $0.7317 at the time of writing, a loss of 0.03% for the session, the G20 Summit now key for the Aussie Dollar near-term, with Trump and Chinese Premier Xi scheduled to meet on Saturday.
The Day Ahead:
For the EUR , it's another relatively busy day ahead for the EUR, with key stats scheduled for release including retail sales figures out of Germany, unemployment numbers out of the Eurozone and prelim November inflation figures out of France, Italy and the Eurozone.
While we will expect the inflation numbers to be the main area of focus, recent weakness in key economic indicators out of Germany will give the retail sales figures some influence, with better than expected employment data released on Thursday supporting a forecasted pickup in domestic consumption in October.
Outside the stats, a dovish FED and the start of the G20 Summit will give the EUR some direction.
At the time of writing, the EUR was down 0.05% to $1.1387, with today's stats and geo-politics the key drivers through the day.
For the Pound , another quiet day on the economic data front leaves the Pound exposed to Brexit chatter, with the G20 Summit a timely get together for Theresa May and world leaders in a bid to lay the foundations for bilateral trade talks as Britain prepares to stumble out of the EU.
The Pound continues to be under pressure in spite of Theresa May negotiating a deal with the EU, with reports of parliament looking to scrap May's deal and replacing it with a new deal and of Scotland's traditionally divided parties uniting to reject the deal next week weighing.
There's certainly plenty of uncertainty and, should Theresa May's deal fail on 11 th December, it could also spell the end of the Tory party, which would support further downside in the Pound.
At the time of writing, the Pound was down 0.12% at $1.2776, with Brexit news the key driver through the day.
Across the Pond , economic data scheduled for release is on the lighter side, with stats limited to Chicago's November PMI that is forecasted to be Dollar positive.
Outside of the stats, FOMC member Williams could spell more Dollar weakness should he tow the FED's latest line on where normalization sits, though it may ultimately boil down to updates from Buenos Aires, with the G20 Summit kicking off today and Trump expected to ruffle a few feathers.
At the time of writing, the Dollar Spot Index was up 0.02% to 96.801, with today's stats and chatter from the G20 being the key drivers.
For the Loonie , its busier day on the data front, with key stats scheduled for release including 3 rd quarter GDP numbers and October's RMPI. With forecasts skewed to the negative for the Loonie, things could get worse should updates from the G20 Summit reflect unlikely progress on trade, which would weigh on risk sentiment and the demand outlook for crude oil prices .
The Loonie was down 0.02% to C$1.3285 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Aussie Dollar , month-on-month, private sector credit rose by 0.4%, in October, which was in line with forecasts and September's 0.4% rise, according to figures released by the RBA. Outside of the stats, FOMC member Williams could spell more Dollar weakness should he tow the FED's latest line on where normalization sits, though it may ultimately boil down to updates from Buenos Aires, with the G20 Summit kicking off today and Trump expected to ruffle a few feathers. With forecasts skewed to the negative for the Loonie, things could get worse should updates from the G20 Summit reflect unlikely progress on trade, which would weigh on risk sentiment and the demand outlook for crude oil prices . | For the Kiwi Dollar , building consents rose by 1.5% in October, month-on-month, reversing September's 1.3% fall, according to figures released by NZ Stats. The Day Ahead: For the EUR , it's another relatively busy day ahead for the EUR, with key stats scheduled for release including retail sales figures out of Germany, unemployment numbers out of the Eurozone and prelim November inflation figures out of France, Italy and the Eurozone. This article was originally posted on FX Empire More From FXEMPIRE: China Manufacturing Stalls as Focus now Shifts to the G20 Summit S&P 500 Price Forecast - stock markets pulled back slightly Major U.S. Stock Indexes Weaken on Renewed Trade Worries The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session was on the heavier side again this morning, with key stats including October building consent figures out of New Zealand, October labour market, inflation and industrial production figures out of Japan, private sector credit figures out of Australia and November private sector PMI numbers out of China. The Kiwi Dollar moved from $0.68584 to $0.68585, showing little response to the figures before rising to $0.6859 at the time of writing, a loss of 0.01% for the session, the positive numbers coming off the back of a rebound in business confidence in the construction sector, according to the November ANZ Business Confidence Index figures released on Thursday. The Day Ahead: For the EUR , it's another relatively busy day ahead for the EUR, with key stats scheduled for release including retail sales figures out of Germany, unemployment numbers out of the Eurozone and prelim November inflation figures out of France, Italy and the Eurozone. | Earlier in the Day: Economic data released through the Asian session was on the heavier side again this morning, with key stats including October building consent figures out of New Zealand, October labour market, inflation and industrial production figures out of Japan, private sector credit figures out of Australia and November private sector PMI numbers out of China. The Kiwi Dollar moved from $0.68584 to $0.68585, showing little response to the figures before rising to $0.6859 at the time of writing, a loss of 0.01% for the session, the positive numbers coming off the back of a rebound in business confidence in the construction sector, according to the November ANZ Business Confidence Index figures released on Thursday. Industrial production rose by 2.9% in October, according to prelim figures, coming in well above a forecasted 1.2% rise, whilst reversing September's 0.4% decline. | 73ac30a0-d40e-44d4-83e4-9682eb4161ca |
709333.0 | 2018-11-27 00:00:00 UTC | Economic Data, FED Chair Powell and the Oval Office Put the USD in Focus | DBO | https://www.nasdaq.com/articles/economic-data-fed-chair-powell-and-oval-office-put-usd-focus-2018-11-27 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was on the lighter side, with key stats limited to 3 rd quarter construction work done figures out of Australia.
For the Aussie Dollar , construction work done fell by 2.8% in the 3 rd quarter, quarter-on-quarter, coming up well short of a forecasted 0.9% increase, whilst also reversing a 2 nd quarter 1.6% rise.
According to figures released by the ABS,
Quarter-on-quarter, building work down fell by 1.5%, with residential and non-residential work down falling by 1% and by 2.4% respectively, while engineering tumbled by 4.5%.
Year-on-year, construction work done was down by 16.9%, with engineering work done sliding by 34.4% to pull total work done into the red.
The Aussie Dollar moved from $0.72333 to $0.72295 upon release of the figures, before moving back to $0.72333 at the time of writing, a gain of 0.11% for the session.
Elsewhere, the Kiwi Dollar was up 0.1% to $0.6796, while the Yen was down 0.04% to ¥113.84 against the U.S Dollar, with direction coming from market risk appetite ahead of the FED's FOMC meeting minutes and the G20
The Day Ahead:
For the EUR , stats scheduled for release through the day are limited to December consumer confidence numbers out of Germany that could set the EUR up for more bearish bias should the numbers be in line with or worse than forecast, October business confidence numbers having already disappointed on Monday.
Outside of the data, we can expect some positioning ahead of the G20, with FED policy to also be a factor, FED Chair Powell scheduled to speak later in the day.
At the time of writing, the EUR was up 0.05% to $1.1295, with today's stats and chatter on Italy the key drivers through the day.
For the Pound , it's another quiet day on the data front, leaving the markets to continue to focus on Theresa May and Brexit chatter from the UK.
Following Trump's comments on the Brexit deal, the Pound is certainly on the back foot, with Parliament seemingly set to send Britain into a disorderly departure that may also lead to a fresh General Election and the return of the Labour Party, none of the above a positive.
At the time of writing, the Pound was down 0.05% at $1.2741, with Brexit news the key driver through the day.
Across the Pond , economic data released through the day is on the busier side, with key stats scheduled for release including finalized 3 rd quarter GDP numbers and October trade data and new home sales figures, the Dollar likely to be particularly sensitive to the numbers, U.S President Trump likely to be scouring the trade figures ahead of the G20 that starts on Friday.
Outside of the numbers, FED Chair Powell will also have a material influence on the Dollar, with any hawkish chatter likely to further spur the Dollar.
At the time of writing, the Dollar Spot Index was up 0.01% to 97.38, with today's stats and FED chair Powell will be key drivers through the day, though chatter from the Oval Office will need to be monitored through the day.
For the Loonie , a quiet day ahead leaves the Loonie in the hands of crude oil prices , with the weekly EIA report in focus through the early afternoon.
The Loonie was down 0.06% to C$1.3302 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning was on the lighter side, with key stats limited to 3 rd quarter construction work done figures out of Australia. Following Trump's comments on the Brexit deal, the Pound is certainly on the back foot, with Parliament seemingly set to send Britain into a disorderly departure that may also lead to a fresh General Election and the return of the Labour Party, none of the above a positive. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast - natural Gas slides on Tuesday USD/JPY Forex Technical Analysis - Strong Support Cluster at 113.482 to 113.258 USD/JPY Price Forecast - US dollar continues to gain against Japanese yen The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Across the Pond , economic data released through the day is on the busier side, with key stats scheduled for release including finalized 3 rd quarter GDP numbers and October trade data and new home sales figures, the Dollar likely to be particularly sensitive to the numbers, U.S President Trump likely to be scouring the trade figures ahead of the G20 that starts on Friday. At the time of writing, the Dollar Spot Index was up 0.01% to 97.38, with today's stats and FED chair Powell will be key drivers through the day, though chatter from the Oval Office will need to be monitored through the day. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast - natural Gas slides on Tuesday USD/JPY Forex Technical Analysis - Strong Support Cluster at 113.482 to 113.258 USD/JPY Price Forecast - US dollar continues to gain against Japanese yen The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Elsewhere, the Kiwi Dollar was up 0.1% to $0.6796, while the Yen was down 0.04% to ¥113.84 against the U.S Dollar, with direction coming from market risk appetite ahead of the FED's FOMC meeting minutes and the G20 The Day Ahead: For the EUR , stats scheduled for release through the day are limited to December consumer confidence numbers out of Germany that could set the EUR up for more bearish bias should the numbers be in line with or worse than forecast, October business confidence numbers having already disappointed on Monday. Across the Pond , economic data released through the day is on the busier side, with key stats scheduled for release including finalized 3 rd quarter GDP numbers and October trade data and new home sales figures, the Dollar likely to be particularly sensitive to the numbers, U.S President Trump likely to be scouring the trade figures ahead of the G20 that starts on Friday. At the time of writing, the Dollar Spot Index was up 0.01% to 97.38, with today's stats and FED chair Powell will be key drivers through the day, though chatter from the Oval Office will need to be monitored through the day. | Earlier in the Day: Economic data released through the Asian session this morning was on the lighter side, with key stats limited to 3 rd quarter construction work done figures out of Australia. At the time of writing, the Pound was down 0.05% at $1.2741, with Brexit news the key driver through the day. The Loonie was down 0.06% to C$1.3302 against the U.S Dollar at the time of writing. | ce237553-ca0c-4659-8861-76cf9c11a488 |
709334.0 | 2018-11-26 00:00:00 UTC | Trade War Rhetoric and Brexit Chatter to Keep the USD and GBP in Action | DBO | https://www.nasdaq.com/articles/trade-war-rhetoric-and-brexit-chatter-keep-usd-and-gbp-action-2018-11-26 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was limited to October trade figures out of New Zealand.
For the Kiwi Dollar , there was more bad news following some particularly disappointing 3 rd quarter retail sales figures released on Monday, with the trade deficit widening in October, year-on-year, from NZ$5,330m to NZ$5,790m, which is the highest annual trade deficit since October 2007.
According to NZ Stats:
Monthly imports hit a record NZ$6.2bn in October, rising above September's previous record high NZ$5.9bn, the continued rise attributed to higher prices for crude oil and a pullback in the Kiwi Dollar.
Import values for October were NZ$758 (14%) higher than in October 2017, with the rise spread across a range of commodities, through petroleum and producers were the main contributor, up NZ$257m (68%).
On the export front, total exports rose by NZ$303m (6.6%) in October to NZ$4.9bn compared with October 2017, with exports sitting at their highest level for any October month.
The increase in exports was attributed to fruit exports (NZ$204m) and kiwifruit exports in particular (NZ$112m).
The monthly trade deficit narrowed from NZ$1.596m to NZ$1.205m, which was worse than a forecasted narrowing to an NZ$850m deficit.
At the time of writing, the Kiwi Dollar moved from $0.67734 to $0.67694 upon release of the figures before falling to $0.67761, marking a 0.13% loss for the session.
Elsewhere, the Japanese Yen stood at ¥113.43 against the U.S Dollar, a gain of 0.13% for the session, while the Aussie Dollar was down 0.03% to $0.7219, talk of Trump going ahead with the January 1 st , 2019 tariffs a negative start to the day to weigh on risk appetite.
In the equity markets, the Hang Seng saw red early on, down 0.49%, while the rest of the majors held onto early gains, the Nikkei and CSI300 both up by 0.09%, while the ASX200 gained 0.36%, partially reversing Monday's slide, with the gains in the U.S and Europe providing little support ahead of the G20, as Trump lay's down the foundations to trade talks with more tariff chatter at the start of the week.
The Day Ahead:
For the EUR , economic data is limited to jobseeker numbers out of France that are unlikely to have a material impact on the EUR through the day, with focus likely to remain on Italy and general sentiment towards the economic outlook, which could cause the ECB to pause on its monetary policy plans for next year should conditions deteriorate further.
At the time of writing, the EUR was up 0.03% to $1.1331, with geo-political risk and chatter on Italy the key drivers through the day.
For the Pound , it's another quiet day on the data front, leaving the markets to continue to focus on Theresa May and her progress on home soil to convince MPs to shift on their current stance on the deal to drive through the Brexit deal in the announced 11 th December parliamentary vote, the current vote count going heavily against Theresa May's widely criticised deal.
At the time of writing, the Pound was down 0.14% at $1.2809, with Brexit news the key driver through the day.
Across the Pond , economic data released through the day includes September housing sector figures and November's consumer confidence numbers.
While focus will likely remain on the consumer confidence numbers, which comes in the wake of the mid-term elections and a choppy period in the U.S equity markets, we will also expect some Dollar sensitivity to housing sector numbers, weaker house price growth likely to weigh on the Dollar.
On the policy front, FOMC members Bostic and George are scheduled to speak late in the day that could also influence, any continued rise in dovish FOMC members certainly not supportive of a bullish Dollar.
At the time of writing, the Dollar Spot Index was down 0.01% to 97.06, with today's stats and any trade war chatter ahead of Friday and Saturday's G20 Summit likely to be the key drivers through the day.
For the Loonie , another quiet day ahead, leaves the Loonie in the hands of market risk appetite and direction in crude oil prices in particular.
The Loonie was down 0.04% to C$1.3260 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Across the Pond , economic data released through the day includes September housing sector figures and November's consumer confidence numbers. At the time of writing, the Dollar Spot Index was down 0.01% to 97.06, with today's stats and any trade war chatter ahead of Friday and Saturday's G20 Summit likely to be the key drivers through the day. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Price Forecast - Euro tries to bounce NEO Technical Analysis - Eyeing Support Levels - 27/11/18 Precious Metals Trade Near Flat With Bearing Bias Over Escalation of Sino-U.S. Trade War Woes The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Kiwi Dollar , there was more bad news following some particularly disappointing 3 rd quarter retail sales figures released on Monday, with the trade deficit widening in October, year-on-year, from NZ$5,330m to NZ$5,790m, which is the highest annual trade deficit since October 2007. According to NZ Stats: Monthly imports hit a record NZ$6.2bn in October, rising above September's previous record high NZ$5.9bn, the continued rise attributed to higher prices for crude oil and a pullback in the Kiwi Dollar. Across the Pond , economic data released through the day includes September housing sector figures and November's consumer confidence numbers. | For the Kiwi Dollar , there was more bad news following some particularly disappointing 3 rd quarter retail sales figures released on Monday, with the trade deficit widening in October, year-on-year, from NZ$5,330m to NZ$5,790m, which is the highest annual trade deficit since October 2007. According to NZ Stats: Monthly imports hit a record NZ$6.2bn in October, rising above September's previous record high NZ$5.9bn, the continued rise attributed to higher prices for crude oil and a pullback in the Kiwi Dollar. On the export front, total exports rose by NZ$303m (6.6%) in October to NZ$4.9bn compared with October 2017, with exports sitting at their highest level for any October month. | According to NZ Stats: Monthly imports hit a record NZ$6.2bn in October, rising above September's previous record high NZ$5.9bn, the continued rise attributed to higher prices for crude oil and a pullback in the Kiwi Dollar. At the time of writing, the Kiwi Dollar moved from $0.67734 to $0.67694 upon release of the figures before falling to $0.67761, marking a 0.13% loss for the session. At the time of writing, the Pound was down 0.14% at $1.2809, with Brexit news the key driver through the day. | 7f7bdc5d-edf3-40af-878b-97d187838a1c |
709335.0 | 2018-11-25 00:00:00 UTC | Carney, Brexit and Draghi put the EUR and GBP in the Spotlight | DBO | https://www.nasdaq.com/articles/carney-brexit-and-draghi-put-eur-and-gbp-spotlight-2018-11-25 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning included 3 rd quarter retail sales figures out of New Zealand and flash November manufacturing numbers out of Japan.
For the Kiwi Dollar, quarter-on-quarter retail sales stagnated in the 3 rd quarter, falling well short of a forecasted 1% rise, following a 1.1% rise in the 2 nd quarter. Core retail sales rose by just 0.4%, following a revised 1.3% rise in the 2 nd quarter, which fell short of a forecasted 1.5% rise.
According to the figures, released by NZ Stats:
Department stores had the largest increase in the quarter, surging by 7.4% quarter-on-quarter, though much of the rise was attributed to a change in reporting format.
Across the 15 retail industries, 8 saw an increase in sales by volume, with 5 seeing a decline, the largest sector in decline being food & beverage services, quarter-on-quarter.
Excluding department store sales, which came in ahead of the pack due to the change in reporting methods, electrical and electronic goods retailing saw the largest volume increase in sales over the quarter.
By value of total retail sales, the jump in fuel prices and the introduction of the Auckland regional fuel tax saw retail fuel sales surge by 7%, quarter-on-quarter, which was offset by falling sales in the F&B and vehicle industries in the quarter.
By value of sales, 9 of the 15 industries had higher sales. Of the 6 industries in decline, the F&B sector saw sales fall by 2.5%, with motor-vehicle and parts retailing down 1.7%
At the time of writing, the Kiwi Dollar was up 0.10% to $0.6788, recovering from losses earlier in the session.
For the Japanese Yen , the November flash manufacturing PMI came in at a 2-year low 51.8, which was weaker than a forecasted 53 and October's 52.9.
Output increased at a slower pace in November, with new orders falling as manufacturers saw weaker demand for the first time since September 2016.
New export orders increased at a slower pace than in October, with business confidence falling for a 6 th consecutive month.
On the inflation front, both input and output prices increased at a slower rate, while employment increased at a faster pace.
The Japanese Yen moved from ¥112.918 to ¥112.926 against the U.S Dollar, upon release of the figures, before sliding to ¥113.22 at the time of writing, a loss of 0.23% for the session.
Elsewhere, the Aussie Dollar was up 0.19% to $0.7247, supported by improved risk sentiment through the session.
In the equity markets, the Hang Seng led the way, up by 1.66% at the time of writing, with the Nikkei and CSI300 rising by 0.68% and by 0.48% at the time of writing. Bucking the trend was the ASX200, which was down 0.77%, with mining and metal stocks seeing the heaviest losses, BHP Billiton sliding by 3.44% with concerns over the outlook for demand weighing.
The Day Ahead:
For the EUR , economic data is limited to October Ifo business climate figures out of Germany that will have an influence on the EUR, economic indicators out of Germany continuing to reflect weaker growth off the back of the 3 rd quarter contraction in the economy.
Following the EU Summit, while member states signed off on the final hour Brexit deal that now needs to be ratified by Parliament as early as next week, Italy continues to stand firm on its 2019 budget plans. There's yet to be talk of a compromise that could ultimately lead to a coalition implosion, with the EU's decision on what disciplinary action to take of greater influence near-term.
On the monetary policy front, ECB President Draghi is scheduled to speak this afternoon, with ECB members Praet, Coeure and Nowotny also on the docket, with Draghi of greater influence, any dovish chatter a negative for the EUR.
At the time of writing, the EUR was up 0.01% to $1.1338, with today's stats out of Germany and Draghi the key drivers through the day.
For the Pound , there are no material stats scheduled for release, leaving the Pound in the hands of Brexit chatter. On Sunday, Theresa May managed to seal a deal for Britain to leave the EU, though the near-term concern is that it won't pass through Parliament, with the opposition Labour Party and a number of Conservative Party members having already stated that they would reject the deal.
Any deal is better than no deal for the markets and in the event of a rejection, things could get messy for the British PM and the Pound, which has brushed off news of the deal being signed off on Sunday by the EU.
On the monetary policy front, BoE governor Carney is scheduled to speak late in the day, with the Brexit deal and the economic outlook possible topics of discussion.
At the time of writing, the Pound was down 0.01% at $1.2813, with Brexit news and Carney the key drivers through the day.
Across the Pond , there are no material stats scheduled for release out of the U.S, leaving market sentiment towards this week's G20 and noise from the Oval Office to provide direction through the day.
At the time of writing, the Dollar Spot Index was up 0.04% to 96.955, with sentiment ahead of this week's FED meeting minutes also to influence.
For the Loonie , it's a quiet day ahead, leaving the Loonie in the hands of market risk appetite and direction in crude oil prices , which have been on the bounce early on this morning to provide much needed support.
The Loonie was up 0.15% to C$1.3218 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning included 3 rd quarter retail sales figures out of New Zealand and flash November manufacturing numbers out of Japan. Following the EU Summit, while member states signed off on the final hour Brexit deal that now needs to be ratified by Parliament as early as next week, Italy continues to stand firm on its 2019 budget plans. This article was originally posted on FX Empire More From FXEMPIRE: Forex Daily Outlook - November 26, 2018 Precious Metals Steady Amid Positive Equities & Strong USD Over Cautious Investor Stance on Escalating Geo-Political Issues EUR/USD Price Forecast - EUR/USD Trades Range Bound Ahead of ECB Draghi's Speech The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning included 3 rd quarter retail sales figures out of New Zealand and flash November manufacturing numbers out of Japan. According to the figures, released by NZ Stats: Department stores had the largest increase in the quarter, surging by 7.4% quarter-on-quarter, though much of the rise was attributed to a change in reporting format. This article was originally posted on FX Empire More From FXEMPIRE: Forex Daily Outlook - November 26, 2018 Precious Metals Steady Amid Positive Equities & Strong USD Over Cautious Investor Stance on Escalating Geo-Political Issues EUR/USD Price Forecast - EUR/USD Trades Range Bound Ahead of ECB Draghi's Speech The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Kiwi Dollar, quarter-on-quarter retail sales stagnated in the 3 rd quarter, falling well short of a forecasted 1% rise, following a 1.1% rise in the 2 nd quarter. By value of total retail sales, the jump in fuel prices and the introduction of the Auckland regional fuel tax saw retail fuel sales surge by 7%, quarter-on-quarter, which was offset by falling sales in the F&B and vehicle industries in the quarter. Of the 6 industries in decline, the F&B sector saw sales fall by 2.5%, with motor-vehicle and parts retailing down 1.7% At the time of writing, the Kiwi Dollar was up 0.10% to $0.6788, recovering from losses earlier in the session. | For the Kiwi Dollar, quarter-on-quarter retail sales stagnated in the 3 rd quarter, falling well short of a forecasted 1% rise, following a 1.1% rise in the 2 nd quarter. The Japanese Yen moved from ¥112.918 to ¥112.926 against the U.S Dollar, upon release of the figures, before sliding to ¥113.22 at the time of writing, a loss of 0.23% for the session. For the Pound , there are no material stats scheduled for release, leaving the Pound in the hands of Brexit chatter. | 5e301c2e-aff7-4943-8274-736dbc2c937b |
709336.0 | 2018-11-21 00:00:00 UTC | Theresa May and Brussels Put the GBP in the Spotlight, Again. | DBO | https://www.nasdaq.com/articles/theresa-may-and-brussels-put-the-gbp-in-the-spotlight-again.-2018-11-21 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was limited to October inflation figures out of Japan ahead of Friday's public holiday.
For the Japanese Yen, the annual rate of core inflation came in at 1% in October, which was in line with forecasts and September numbers.
Contributing to the 1% rise was a 4.4% rise in fuel, light and water charges, with transportation & communication (+1.9%), culture & recreation (+1.4%), medical care (+1.1%) also seeing prices rise over the year.
Dragging on core consumer prices was a 1% fall in prices for furniture & household utensils and a 0.2% fall in prices for housing.
Month-on-month, core consumer prices rose by 0.2%, with consumer prices also rising by 0.2% after a flat September, food prices stagnating in October, alongside housing and education, while prices were on the rise for furniture & household utensils (+1%), culture & recreation (+0.9%), fuel, light & water charges (+0.8%), with prices for clothing & footwear and transportation & communication both seeing 0.5% rises in prices.
The Japanese Yen moved from ¥113.061 to ¥113.05 against the U.S Dollar upon release of the figures, before rising to ¥112.98 at the time of writing, a gain of 0.07% for the session.
Elsewhere, the Aussie Dollar was gave up early gains, down 0.17% to $0.7251, with the Kiwi Dollar down 0.25% to $0.6817, the pair struggling in spite of a softer U.S Dollar, with falling commodity prices and the respective central banks' lack of interest to shift on policy also weighing.
The Asian equity markets, the ASX200 found some much needed support, up 0.54% at the time of writing, while the CSI300 reversed the week's gains, down 0.39%. The Hang Seng and Nikkei were flat, with the rise in the European equity markets and NASDAQ and S&P500 providing little support.
The Day Ahead:
For the EUR , economic data scheduled for release is limited to prelim October consumer confidence numbers out of the Eurozone, with the ECB's monetary policy meeting minutes scheduled for release ahead of the consumer confidence numbers to be the key driver later in the day.
Outside of the numbers, we can expect the EUR to continue to respond to the EU Commission's decision on the Italian coalition government's budget and chatter from Italy in response, the EU now expected to decide on punitive measures, with Thanksgiving in the U.S expected to see lighter volumes.
At the time of writing, the EUR was up 0.13% to $1.1399, with ECB minutes and Italy the key drivers through the day.
For the Pound , it's another quiet day on the data front, which will leave the Pound in the hands of Brexit chatter through the day, Theresa May's progress on Brexit critical to avoiding more backlash in Parliament ahead of the EU Summit.
The British PM's visit to Brussels ahead of Sunday's EU Summit will garner plenty of attention, the finer details needing to be resolved to allow member states to vote on the details ahead of a ratification by parliament.
At the time of writing, the Pound was up 0.05% at $1.2784, with Brexit news the key driver through the day.
Across the Pond , there are no material stats scheduled for release, with the U.S markets closed for Thanksgiving.
At the time of writing, the Dollar Spot Index was up 0.09% to 96.626, geo-political risk and economic data the key drivers on what is anticipated to be particularly light trading volumes.
For the Loonie , there are no material stats scheduled for release ahead of tomorrow's inflation and retail sales figures, some positioning expected ahead of the stats, though we can expect volumes to be on the lighter side to leave the Loonie more sensitive to any major moves in crude oil prices .
The Loonie was up 0.01% to C$1.3230 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning was limited to October inflation figures out of Japan ahead of Friday's public holiday. The Day Ahead: For the EUR , economic data scheduled for release is limited to prelim October consumer confidence numbers out of the Eurozone, with the ECB's monetary policy meeting minutes scheduled for release ahead of the consumer confidence numbers to be the key driver later in the day. At the time of writing, the Dollar Spot Index was up 0.09% to 96.626, geo-political risk and economic data the key drivers on what is anticipated to be particularly light trading volumes. | Month-on-month, core consumer prices rose by 0.2%, with consumer prices also rising by 0.2% after a flat September, food prices stagnating in October, alongside housing and education, while prices were on the rise for furniture & household utensils (+1%), culture & recreation (+0.9%), fuel, light & water charges (+0.8%), with prices for clothing & footwear and transportation & communication both seeing 0.5% rises in prices. The Day Ahead: For the EUR , economic data scheduled for release is limited to prelim October consumer confidence numbers out of the Eurozone, with the ECB's monetary policy meeting minutes scheduled for release ahead of the consumer confidence numbers to be the key driver later in the day. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast - natural gas markets run into resistance again AUD/USD and NZD/USD Fundamental Daily Forecast - Weak U.S. Data Suggests Fed May Consider Slowing Pace of Rate Hikes S&P 500 Price Forecast - stock markets recover slightly The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Month-on-month, core consumer prices rose by 0.2%, with consumer prices also rising by 0.2% after a flat September, food prices stagnating in October, alongside housing and education, while prices were on the rise for furniture & household utensils (+1%), culture & recreation (+0.9%), fuel, light & water charges (+0.8%), with prices for clothing & footwear and transportation & communication both seeing 0.5% rises in prices. The Day Ahead: For the EUR , economic data scheduled for release is limited to prelim October consumer confidence numbers out of the Eurozone, with the ECB's monetary policy meeting minutes scheduled for release ahead of the consumer confidence numbers to be the key driver later in the day. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast - natural gas markets run into resistance again AUD/USD and NZD/USD Fundamental Daily Forecast - Weak U.S. Data Suggests Fed May Consider Slowing Pace of Rate Hikes S&P 500 Price Forecast - stock markets recover slightly The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Japanese Yen moved from ¥113.061 to ¥113.05 against the U.S Dollar upon release of the figures, before rising to ¥112.98 at the time of writing, a gain of 0.07% for the session. The Day Ahead: For the EUR , economic data scheduled for release is limited to prelim October consumer confidence numbers out of the Eurozone, with the ECB's monetary policy meeting minutes scheduled for release ahead of the consumer confidence numbers to be the key driver later in the day. For the Loonie , there are no material stats scheduled for release ahead of tomorrow's inflation and retail sales figures, some positioning expected ahead of the stats, though we can expect volumes to be on the lighter side to leave the Loonie more sensitive to any major moves in crude oil prices . | 14ffc87c-997e-48f4-a93e-5108f7a74893 |
709337.0 | 2018-11-20 00:00:00 UTC | It’s Judgement Day for Italy and the EURO | DBO | https://www.nasdaq.com/articles/its-judgement-day-italy-and-euro-2018-11-20 | nan | nan | Earlier in the Day:
There were no material stats or policy statements or central bank speeches through the Asian session to provide direction in the early part of the day, leaving the markets to consider the current state of play that includes a broad based sell-off across the global equity markets, stemming from growing concerns over the global economic outlook, along with Britain's departure from the EU, the Italian coalition government's collision course with the EU Commission and Trump's trade war with China and the seismic shift in U.S foreign policy.
A 500 point slide in the Dow in isolation is one thing, but a 1,000 point slide in a week is an altogether different proposition, particularly when considering the latest earnings results and recent economic indicators that have certainly not justified the latest sell-off.
Looking at the Asian majors in the early part of the day, it's been a relatively tame morning, with the Aussie Dollar up 0.22% to $0.7230, while the Japanese Yen was down 0.12% to ¥112.91 against the U.S Dollar at the time of writing. For the Kiwi Dollar, it was a flat start to the day, following Tuesday's reversal, the Kiwi up just 0.03% to $0.6791.
In the Asian equity markets, the sell-off in the U.S spilled over to the Asian session once more, with the Nikkei and ASX200 down 0.76% and by 0.62% respectively, at the time of writing, while the Hang Seng and CSI300 were down 0.61% and by 0.04% respectively, the majors managing to recover from heavier losses early in the day..
The Day Ahead:
For the EUR , there are no material stats scheduled for release through the day, leaving the markets to focus on the Italian coalition government's collision course with the EU Commission, which is expected to reject Italy's slightly amended budget proposal later this morning.
10-year government bond yields will be the area of focus, with the spread between Italy's 10-year bond yield and that of Germany's needing to hold below 400 bps to avoid a market meltdown. The writing may already be on the wall, with few expecting anything but a rejection by the EU Commission. What isn't clear is how the Italian coalition government will respond.
Could we see the Dollar reach parity with the EUR? The Greek debacle failed to deliver, but Italy's a different proposition altogether, any talk of leaving the EUR likely to have a material impact on the EUR and much more.
At the time of writing, the EUR was flat at $1.1370, with today's decision and Italy's response the key driver.
For the Pound , there are also no material stats scheduled for release through the day that leaves Brexit front and centre, British Prime Minster heading to Brussels with pride intact, the euro sceptics having failed to force a vote of no confidence earlier in the week.
While there have been some misgivings, Theresa May has managed to rally the troops and align interests in order to avoid a no-deal event, raising hopes of parliament voting in favour of Theresa May's proposed exit plan.
Talk of Spain planning to reject the draft deal because of a lack of clarity over Gibraltar could be the next storm for the Pound, though with the EU Summit just 2-weeks away, there's talk of the issue being resolved through the weekend.
Theresa May will be more interested in garnering the 20 votes from EU member states, but Spain's support would be an important one to leave the EU in calm waters.
At the time of writing, the Pound was flat at $1.2783, with Brexit news the key driver through the day.
Across the Pond , economic data scheduled for release through the day is on the heavier side ahead of Thanksgiving, with key stats scheduled for release later today including October durable goods and core durable goods orders, existing home sales and finalized November consumer sentiment numbers.
While focus will be on existing home sales and durable goods orders, geo-political risk will also play a hand with today's EU Commission decision on Italy's budget and more to influence demand for U.S Treasuries.
At the time of writing, the Dollar Spot Index was up 0.01% to 96.842, geo-political risk and economic data the key drivers through the day.
For the Loonie , after a quiet start to the week, September wholesale sales figures will provide some direction ahead of tomorrow's inflation and retail sales figures, though it could turn out to be another tough day should this morning's gains in crude oil prices reverse later in the day.
The Loonie was down 0.02% to C$1.3308 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: There were no material stats or policy statements or central bank speeches through the Asian session to provide direction in the early part of the day, leaving the markets to consider the current state of play that includes a broad based sell-off across the global equity markets, stemming from growing concerns over the global economic outlook, along with Britain's departure from the EU, the Italian coalition government's collision course with the EU Commission and Trump's trade war with China and the seismic shift in U.S foreign policy. For the Pound , there are also no material stats scheduled for release through the day that leaves Brexit front and centre, British Prime Minster heading to Brussels with pride intact, the euro sceptics having failed to force a vote of no confidence earlier in the week. While focus will be on existing home sales and durable goods orders, geo-political risk will also play a hand with today's EU Commission decision on Italy's budget and more to influence demand for U.S Treasuries. | The Day Ahead: For the EUR , there are no material stats scheduled for release through the day, leaving the markets to focus on the Italian coalition government's collision course with the EU Commission, which is expected to reject Italy's slightly amended budget proposal later this morning. Across the Pond , economic data scheduled for release through the day is on the heavier side ahead of Thanksgiving, with key stats scheduled for release later today including October durable goods and core durable goods orders, existing home sales and finalized November consumer sentiment numbers. While focus will be on existing home sales and durable goods orders, geo-political risk will also play a hand with today's EU Commission decision on Italy's budget and more to influence demand for U.S Treasuries. | Earlier in the Day: There were no material stats or policy statements or central bank speeches through the Asian session to provide direction in the early part of the day, leaving the markets to consider the current state of play that includes a broad based sell-off across the global equity markets, stemming from growing concerns over the global economic outlook, along with Britain's departure from the EU, the Italian coalition government's collision course with the EU Commission and Trump's trade war with China and the seismic shift in U.S foreign policy. The Day Ahead: For the EUR , there are no material stats scheduled for release through the day, leaving the markets to focus on the Italian coalition government's collision course with the EU Commission, which is expected to reject Italy's slightly amended budget proposal later this morning. This article was originally posted on FX Empire More From FXEMPIRE: USD/JPY Price Forecast - US dollar initially rallies but fails GBP/USD Price Forecast - British pound continues to struggle Crude Oil Price Update - Recovering Fibonacci Level at $54.79 Will Indicate Return of Buyers The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR , there are no material stats scheduled for release through the day, leaving the markets to focus on the Italian coalition government's collision course with the EU Commission, which is expected to reject Italy's slightly amended budget proposal later this morning. At the time of writing, the Pound was flat at $1.2783, with Brexit news the key driver through the day. The Loonie was down 0.02% to C$1.3308 against the U.S Dollar at the time of writing. | 74cfac5c-665e-401a-a2e3-6268b832a1a0 |
709338.0 | 2018-11-19 00:00:00 UTC | Geo-Political Risk Leaves the EUR and GBP in the Spotlight | DBO | https://www.nasdaq.com/articles/geo-political-risk-leaves-eur-and-gbp-spotlight-2018-11-19 | nan | nan | Earlier in the Day:
There were no material stats scheduled for release through the Asian session this morning, leaving the markets to respond to lingering geo-political risks, with U.S - China trade war chatter, the approaching EU Commission decision on the Italian coalition government's 2019 budget and Brexit there to consider through the session.
While there were no material stats released through the session, the RBA meeting minutes from the 6 th November policy decision were released.
For the Aussie Dollar , the RBA meeting minutes provided nothing new, with the RBA noting that there was no reason for a shift in policy near-term, while the next move would likely to be a rate hike, with members assessing that it would be appropriate to hold the cash rate steady and for the Bank to be a source of stability and confidence as labour market conditions continue to tighten and inflation moves towards the Bank's midpoint of target.
The Aussie Dollar moved from $0.72964 to $0.72977 upon release of the meeting minutes, before rising to $0.7293 at the time of writing, a 0.01% fall for the session.
Elsewhere, the Kiwi Dollar stood at $0.6842 at the time of writing, a gain of 0.04%, while the Japanese Yen was down 0.04 % to ¥112.6 against the U.S Dollar, risk aversion and a slide in the U.S Dollar in response to housing figures limiting the Yen's losses early on.
In the Asian equity markets, the sell-off in the U.S spilled over to the Asian session, with the Nikkei and ASX200 down 1.06% and by 0.83% respectively, at the time of writing.
The Day Ahead:
For the EUR , economic data scheduled for release is limited to October wholesale inflation numbers out of German that are unlikely to have a material bearing on the EUR, while France's 3 rd quarter unemployment rate could hit the EUR should the unemployment rate rise from 9.1% to 9.2%.
Market sensitivity to a slowdown in the Eurozone economy and the negative impact arising from a populous government running Italy are the negatives for the EUR at present, while a shift in sentiment towards the U.S economy and some dovish commentary from FOMC members has continued to support $1.14 levels near-term.
At the time of writing, the EUR was down 0.07% to $1.1446.
For the Pound , economic data scheduled for release through the day is limited to November CBI Industrial Trend Orders that are unlikely to have a material impact on the Pound, leaving the markets to focus the scheduled inflationary hearings and BoE Governor Carney's views on inflation and the outlook on monetary policy, though we would expect Brexit chatter to have a greater influence, the BoE on hold until there is greater clarity on the terms of exit.
Brexit chatter through the day could include rising tensions in parliament should Theresa May fail to convince the Euro sceptics to align, though based on updates going into this morning's Asian session, the Pound should find support, particularly if talks of a vote of no confidence continue to abate, EU negotiators, Theresa May and other government leaders taking the view that a deal is better than no deal.
At the time of writing, the Pound was down 0.02% to $1.2852, with Brexit news the key driver through the day.
Across the Pond , economic data scheduled for release through the day includes October building permits and housing starts.
Concerns over the outlook for the U.S housing sector have continued to build alongside U.S mortgage rates, with some recent numbers suggesting that there has been a pickup in inventories that has placed further downward pressure on property prices. A slide in November home builder confidence that fell by the most in 4-years weighed on the Dollar ahead of today's figures.
We can expect the Dollar to respond to today's stats, though any material moves may be on hold as the markets look to get a better sense on how the FED views the economic outlook, recently dovish commentary having muddied the monetary policy waters.
Outside the stats, geo-political risk will also influence, with any progress on trade talks with China likely to ease demand for U.S Treasuries and any improved sentiment towards Brexit and Italy's budget also Dollar negative, though with a high degree of uncertainty to the outcomes of each, we can expect some choppiness near-term.
At the time of writing, the Dollar Spot Index was up 0.03% to 96.223, with Capitol Hill and geo-political risk the key drivers through the day.
For the Loonie , there are no material stats scheduled for release through the day, leaving the Loonie in the hands of crude oil prices , Monday's choppy day weighing on the Loonie at the start of the week.
The Loonie was up 0.01% to C$1.3170 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Concerns over the outlook for the U.S housing sector have continued to build alongside U.S mortgage rates, with some recent numbers suggesting that there has been a pickup in inventories that has placed further downward pressure on property prices. We can expect the Dollar to respond to today's stats, though any material moves may be on hold as the markets look to get a better sense on how the FED views the economic outlook, recently dovish commentary having muddied the monetary policy waters. Outside the stats, geo-political risk will also influence, with any progress on trade talks with China likely to ease demand for U.S Treasuries and any improved sentiment towards Brexit and Italy's budget also Dollar negative, though with a high degree of uncertainty to the outcomes of each, we can expect some choppiness near-term. | Earlier in the Day: There were no material stats scheduled for release through the Asian session this morning, leaving the markets to respond to lingering geo-political risks, with U.S - China trade war chatter, the approaching EU Commission decision on the Italian coalition government's 2019 budget and Brexit there to consider through the session. The Day Ahead: For the EUR , economic data scheduled for release is limited to October wholesale inflation numbers out of German that are unlikely to have a material bearing on the EUR, while France's 3 rd quarter unemployment rate could hit the EUR should the unemployment rate rise from 9.1% to 9.2%. For the Pound , economic data scheduled for release through the day is limited to November CBI Industrial Trend Orders that are unlikely to have a material impact on the Pound, leaving the markets to focus the scheduled inflationary hearings and BoE Governor Carney's views on inflation and the outlook on monetary policy, though we would expect Brexit chatter to have a greater influence, the BoE on hold until there is greater clarity on the terms of exit. | Earlier in the Day: There were no material stats scheduled for release through the Asian session this morning, leaving the markets to respond to lingering geo-political risks, with U.S - China trade war chatter, the approaching EU Commission decision on the Italian coalition government's 2019 budget and Brexit there to consider through the session. The Day Ahead: For the EUR , economic data scheduled for release is limited to October wholesale inflation numbers out of German that are unlikely to have a material bearing on the EUR, while France's 3 rd quarter unemployment rate could hit the EUR should the unemployment rate rise from 9.1% to 9.2%. For the Pound , economic data scheduled for release through the day is limited to November CBI Industrial Trend Orders that are unlikely to have a material impact on the Pound, leaving the markets to focus the scheduled inflationary hearings and BoE Governor Carney's views on inflation and the outlook on monetary policy, though we would expect Brexit chatter to have a greater influence, the BoE on hold until there is greater clarity on the terms of exit. | Earlier in the Day: There were no material stats scheduled for release through the Asian session this morning, leaving the markets to respond to lingering geo-political risks, with U.S - China trade war chatter, the approaching EU Commission decision on the Italian coalition government's 2019 budget and Brexit there to consider through the session. At the time of writing, the EUR was down 0.07% to $1.1446. The Loonie was up 0.01% to C$1.3170 against the U.S Dollar at the time of writing. | f304b464-ea26-4006-abe7-8ea1b5887b45 |
709339.0 | 2018-11-18 00:00:00 UTC | Geo-Politics Bring the Pound and the EUR into Focus | DBO | https://www.nasdaq.com/articles/geo-politics-bring-pound-and-eur-focus-2018-11-18 | nan | nan | Earlier in the Day:
Economic data released through the Asian session was on the lighter side this morning, with key stats limited to 3 rd quarter wholesale inflation numbers out of New Zealand and October trade figures out of Japan.
Outside of the numbers, Bank of Japan governor Kuroda was scheduled to speak later in the session.
For the Kiwi Dollar , the producer price index input rose by 1.4% in the 3 rd quarter, coming in ahead of a forecasted 0.8% increase following a 2 nd quarter 1% rise.
The increase was attributed to a surge in fuel costs, with the prices that businesses were required to pay for petrol and diesel up 6.9% and 7% in the quarter.
Other petroleum products that include aviation fuel was up 3.7%.
Fuel costs have been on the rise for 4 consecutive quarters to take petrol and diesel costs up 22.5% and 37.8% respectively, year-on-year.
Output prices increased by 1.5% over the quarter.
At the time of writing, the Kiwi Dollar stood at $0.6851, down 0.39% for the session.
For the Japanese Yen , the trade balance stood at a deficit of ¥449bn in October, which was a much larger than forecasted than forecasted deficit of ¥70bn, following September's ¥131bn surplus.
Exports rose by 8.2%, falling short of a forecasted 9% increase, following September's 1.3% fall.
Imports jumped by 19.9%, coming in well ahead of a forecasted 14.5% increase, following September's 7% rise.
Exports to China rose by 9%, while imports jumped by 16.1%, with exports to the U.S rising by 11.6%, while imports surged by 34.3%. Following last month's trouble export figures to the EU, exports rose by 5.7% to the EU driven by exports to Ireland and Germany, while imports rose by 9.5%.
The Japanese Yen moved from ¥112.7 to ¥112.767 against the U.S Dollar, upon release of the figures, before rising to ¥112.73 at the time of writing, a gain of 0.09% in the early part of the session.
Elsewhere , the Aussie Dollar was down 0.27% to $0.7312, at the time of writing, with trade war jitters reversing the effects of some dovish commentary from FED vice chair Richard Clarida at the end of last.
In the Asian equity markets, the Nikkei, the Hang Seng and CSI300 were all on the move at the start of the week, the Nikkei leading the way with a 0.52% rise ahead of the close, while the ASX200 troubles also continued following last week's 3.23% slide, the index down 0.54%, at the time of writing, energy stocks and the big-4 banks under pressure.
The Day Ahead:
For the EUR , there are no material stats scheduled for release through the day, leaving the EUR in the hands of market sentiment towards Italy that is never a good thing ahead of this week's EU Commission decision on whether to hit Italy with sanctions should the coalition government continue to stand firm in the final hour..
At the time of writing, the EUR was down 0.10% to $1.1404.
For the Pound , it's also a quiet day on the data front, with no material stats scheduled for release through the morning, leaving the Pound in the hands of Brexit updates through the day, pressure on the British PMI mounting, with the threat of a vote of no confidence this week also there for the markets to consider..
At the time of writing, the Pound was down 0.01% to $1.2833, with Brexit news the key driver through the day.
Across the Pond , there are no material stats scheduled for release, with the Dollar having taken a hit at the end of last week following some dovish comments from FED vice chair Clarida. While there are no stats to consider, FOMC member Williams is scheduled to speak later today, with any dovish commentary likely to add further pressure on the Dollar.
Other influences through the day will include market risk sentiment, with U.S - China trade talks, Brexit, an Italy - Brussels showdown and Capitol Hill all in focus through the day.
At the time of writing, the Dollar Spot Index was up 0.03% to 96.495, with Capitol Hill and geo-political risk in focus through the day.
For the Loonie , it's a quiet start to the week, with no economic data scheduled for release to leave the Loonie in the hands of risk sentiment and the direction of crude oil prices , which are expected to find some support on hopes that OPEC and Russia will agree to cut output going into the New Year. Further upside could come from a resolution to the U.S - China trade war, though few are expecting an agreement until the New Year.
The Loonie was down 0.10% to C$1.3161 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session was on the lighter side this morning, with key stats limited to 3 rd quarter wholesale inflation numbers out of New Zealand and October trade figures out of Japan. Elsewhere , the Aussie Dollar was down 0.27% to $0.7312, at the time of writing, with trade war jitters reversing the effects of some dovish commentary from FED vice chair Richard Clarida at the end of last. This article was originally posted on FX Empire More From FXEMPIRE: Oil Price Fundamental Daily Forecast - Prices Stabilizing on Hopes of OPEC-led Production Cuts Master Important Forex Terminology - Webinar December 20 NEO Technical Analysis - Hits Support Levels - 19/11/18 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR , there are no material stats scheduled for release through the day, leaving the EUR in the hands of market sentiment towards Italy that is never a good thing ahead of this week's EU Commission decision on whether to hit Italy with sanctions should the coalition government continue to stand firm in the final hour.. At the time of writing, the EUR was down 0.10% to $1.1404. For the Pound , it's also a quiet day on the data front, with no material stats scheduled for release through the morning, leaving the Pound in the hands of Brexit updates through the day, pressure on the British PMI mounting, with the threat of a vote of no confidence this week also there for the markets to consider.. At the time of writing, the Pound was down 0.01% to $1.2833, with Brexit news the key driver through the day. Other influences through the day will include market risk sentiment, with U.S - China trade talks, Brexit, an Italy - Brussels showdown and Capitol Hill all in focus through the day. | The Day Ahead: For the EUR , there are no material stats scheduled for release through the day, leaving the EUR in the hands of market sentiment towards Italy that is never a good thing ahead of this week's EU Commission decision on whether to hit Italy with sanctions should the coalition government continue to stand firm in the final hour.. At the time of writing, the EUR was down 0.10% to $1.1404. For the Pound , it's also a quiet day on the data front, with no material stats scheduled for release through the morning, leaving the Pound in the hands of Brexit updates through the day, pressure on the British PMI mounting, with the threat of a vote of no confidence this week also there for the markets to consider.. At the time of writing, the Pound was down 0.01% to $1.2833, with Brexit news the key driver through the day. This article was originally posted on FX Empire More From FXEMPIRE: Oil Price Fundamental Daily Forecast - Prices Stabilizing on Hopes of OPEC-led Production Cuts Master Important Forex Terminology - Webinar December 20 NEO Technical Analysis - Hits Support Levels - 19/11/18 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Kiwi Dollar , the producer price index input rose by 1.4% in the 3 rd quarter, coming in ahead of a forecasted 0.8% increase following a 2 nd quarter 1% rise. At the time of writing, the Kiwi Dollar stood at $0.6851, down 0.39% for the session. Other influences through the day will include market risk sentiment, with U.S - China trade talks, Brexit, an Italy - Brussels showdown and Capitol Hill all in focus through the day. | 947d0005-b886-46a9-acc8-91972f8d2099 |
709340.0 | 2018-11-15 00:00:00 UTC | Brexit and a Choppy GBP, with the EUR and Inflation in Focus | DBO | https://www.nasdaq.com/articles/brexit-and-choppy-gbp-eur-and-inflation-focus-2018-11-15 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was on the lighter side, with key stats limited to October's business PMI figure out of New Zealand.
For the Kiwi Dollar, the Business NZ PMI rose from a September 51.7 to 53.5 in October, the highest level since May.
The production (52.8) and new orders (56.7) sub-indexes both improved to their highest levels since May and April respectively.
Following a number of contractions through the year, the employment sub-index rose for a 2 nd consecutive month to 52.4.
Sentiment also improved, with 58.3% of comments positive, supported by rising demand from overseas, while seasonal factors including weather and pre-Christmas season orders also supporting sentiment.
The Kiwi Dollar moved from $0.68307 to $0.68265 upon release of the figures before rising to $0.6836 at the time of writing, a gain of 0.09% for the session.
Elsewhere, the Japanese Yen was up 0.18% to ¥113.44 against the U.S Dollar, with the Aussie Dollar up 0.07% to $0.7282,
The Day Ahead:
For the EUR , stats are on the lighter side, with economic data scheduled for release later this morning being limited to finalized October inflation numbers out of the Eurozone.
Focus will be on the month-on-month headline figure and any revisions to prelim numbers, though we can expect more influence from the geo-political risk side, with the political environment unlikely to improve anytime soon.
At the time of writing, the EUR was up 0.12% to $1.1342.
For the Pound , there are no material stats scheduled for release, leaving the Pound in the hands of Brexit, with Dominic Raab's resignation on Thursday having hit the Pound hard in the day, uncertainty and negative sentiment towards the chances of a deal being accepted by Parliament now weighing.
At the time of writing, the Pound was up 0.13% to $1.2790, with Brexit news the key driver through the day.
Across the Pond , economic data out of the U.S is limited to October industrial production figures that will provide some further guidance on which direction the U.S economy is heading going into the 4 th quarter, upbeat numbers likely to give the Dollar a boost following FED Chair Powell's positive outlook on the U.S economy that was somewhat caveated with a warning of possible negative fallout from weak overseas demand.
Outside the stats, the Oval Office will be ever present to provide direction, with the back and forth between the U.S and China on trade likely to garner some attention.
At the time of writing, the Dollar Spot Index was up 0.05% to 96.972, with today's stats, Capitol Hill and geo-political risk in focus through the day.
For the Loonie , after a quiet week, stats scheduled for release later today include September manufacturing sales and foreign security purchases figures that will provide the Loonie with some direction, though we will expect market risk appetite and crude oil prices to have the final say, the Loonie having held up pretty well considering the slide in oil prices through the week.
The Loonie was down 0.08% to C$1.3168 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning was on the lighter side, with key stats limited to October's business PMI figure out of New Zealand. Focus will be on the month-on-month headline figure and any revisions to prelim numbers, though we can expect more influence from the geo-political risk side, with the political environment unlikely to improve anytime soon. At the time of writing, the Dollar Spot Index was up 0.05% to 96.972, with today's stats, Capitol Hill and geo-political risk in focus through the day. | Earlier in the Day: Economic data released through the Asian session this morning was on the lighter side, with key stats limited to October's business PMI figure out of New Zealand. Sentiment also improved, with 58.3% of comments positive, supported by rising demand from overseas, while seasonal factors including weather and pre-Christmas season orders also supporting sentiment. Elsewhere, the Japanese Yen was up 0.18% to ¥113.44 against the U.S Dollar, with the Aussie Dollar up 0.07% to $0.7282, The Day Ahead: For the EUR , stats are on the lighter side, with economic data scheduled for release later this morning being limited to finalized October inflation numbers out of the Eurozone. | Elsewhere, the Japanese Yen was up 0.18% to ¥113.44 against the U.S Dollar, with the Aussie Dollar up 0.07% to $0.7282, The Day Ahead: For the EUR , stats are on the lighter side, with economic data scheduled for release later this morning being limited to finalized October inflation numbers out of the Eurozone. For the Loonie , after a quiet week, stats scheduled for release later today include September manufacturing sales and foreign security purchases figures that will provide the Loonie with some direction, though we will expect market risk appetite and crude oil prices to have the final say, the Loonie having held up pretty well considering the slide in oil prices through the week. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Prediction - Prices Tumble From Overbought Condition Gold Price Futures (GC) Technical Analysis - Closest Upside Target $1221.30, Nearest Downside Target $1206.60 USD/JPY Price Forecast - US dollar falls against yen The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The production (52.8) and new orders (56.7) sub-indexes both improved to their highest levels since May and April respectively. At the time of writing, the Pound was up 0.13% to $1.2790, with Brexit news the key driver through the day. At the time of writing, the Dollar Spot Index was up 0.05% to 96.972, with today's stats, Capitol Hill and geo-political risk in focus through the day. | a6428a9e-42ab-47c4-8fe9-d7c7cb8a54a5 |
709341.0 | 2018-11-14 00:00:00 UTC | Employment Figures Give the AUD a Boost, with Brexit and Italy Still in Focus | DBO | https://www.nasdaq.com/articles/employment-figures-give-aud-boost-brexit-and-italy-still-focus-2018-11-14 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was limited to October employment numbers out of Australia.
For the Aussie Dollar , October labour figures impressed in the early part of the Asian session, with better than expected hiring through the month. According to the ABS,
The number of employed rose by 32.8k in October, coming in well ahead of a forecasted 20k increase, following September's upwardly revised 7.8k rise.
Full employment rose by 42.3k in the month, following an upwardly revised 24.6k increase in September.
The unemployment rate held steady at 5.0%, which was better than a forecasted rise to 5.1%, with the participation rate rising from 65.5% to 65.6%, another positive from the numbers.
Part-time employment fell by 9.5k in the month to continue supporting the shift in labour market dynamics. Year-on-year, full-time employment has increased by 238.8k, while part-time employment has risen by just 69.4k.
The Aussie Dollar moved from $0.72330 to $0.72677 upon release of the figures, before rising to $0.7269 at the time of writing, a gain of 0.51% for the session.
Elsewhere, the Japanese Yen was up 0.05% to ¥113.57 against the U.S Dollar, with the Kiwi Dollar down 0.13% to $0.679, in what's been a relatively benign start to the day, leaving the equity markets mixed early on, the Nikkei and ASX200 in the red, while the Hang Seng and CSI300 opened in positive territory.
The Day Ahead:
For the EUR , economic data is on the lighter side, with key stats limited to 2 nd estimate GDP numbers for the 3 rd quarter out of France and September trade data out of the Eurozone.
While we can expect some focus on the stats, geo-political risk will continue to be the key driver through the day, as the Italian coalition government stands firm on its 2019 spending plan and deficit target of 2.4%.
Italy's debt as a percentage of GDP sits at 131%, second only to Greece, though with Italy being the Eurozone's 3 rd largest economy, it's not completely surprising that there is panic within the Establishment's ranks, the Italian coalition government in a position to make a much bigger dent into the EURO project than Greece was ever able to.
At the time of writing, the EUR was up 0.04% to $1.1315.
For the Pound , it's another important day on the data front, with key stats scheduled for release including October retail sales figures that will give some idea of how the UK economy is fairing going into the final quarter of the year.
As with the rest of the key stats through the week, we will expect Brexit to overshadow the numbers, key through the day being political support for the draft deal.
At the time of writing, the Pound was flat at $1.32992, with Brexit news the key driver through the day.
Across the Pond , economic data is on the heavier side, with stats scheduled for release including October retail sales figures, November manufacturing PMI numbers out of NY State and Philly and business inventory numbers. Of less significance will be import and export price index figures for October, as the markets look for signs of a slowdown in domestic consumption that could pin back the FED and its plans on driving beyond policy normalization.
Outside of the numbers, we can expect geo-political risk to continue to influence through the day.
At the time of writing, the Dollar Spot Index was up 0.2% to 96.992, with today's stats, Capitol Hill and geo-political risk in focus through the day.
For the Loonie , the markets will need to hold on until tomorrow's manufacturing sales figures for September, though it's will likely continue to boil down to risk sentiment and the direction in crude oil prices that have weighed this month.
The Loonie was down 0.03% to C$1.3246 against the U.S Dollar at the time of writing, with crude oil prices continuing to be the key driver through the day.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Pound , it's another important day on the data front, with key stats scheduled for release including October retail sales figures that will give some idea of how the UK economy is fairing going into the final quarter of the year. Of less significance will be import and export price index figures for October, as the markets look for signs of a slowdown in domestic consumption that could pin back the FED and its plans on driving beyond policy normalization. For the Loonie , the markets will need to hold on until tomorrow's manufacturing sales figures for September, though it's will likely continue to boil down to risk sentiment and the direction in crude oil prices that have weighed this month. | While we can expect some focus on the stats, geo-political risk will continue to be the key driver through the day, as the Italian coalition government stands firm on its 2019 spending plan and deficit target of 2.4%. For the Pound , it's another important day on the data front, with key stats scheduled for release including October retail sales figures that will give some idea of how the UK economy is fairing going into the final quarter of the year. Across the Pond , economic data is on the heavier side, with stats scheduled for release including October retail sales figures, November manufacturing PMI numbers out of NY State and Philly and business inventory numbers. | The Day Ahead: For the EUR , economic data is on the lighter side, with key stats limited to 2 nd estimate GDP numbers for the 3 rd quarter out of France and September trade data out of the Eurozone. For the Pound , it's another important day on the data front, with key stats scheduled for release including October retail sales figures that will give some idea of how the UK economy is fairing going into the final quarter of the year. This article was originally posted on FX Empire More From FXEMPIRE: Employment Figures Give the AUD a Boost, with Brexit and Italy Still in Focus AUD/USD and NZD/USD Fundamental Daily Forecast - Aussie Traders Bracing for Employment Change, Unemployment Rate Reports Gold Price Prediction - Prices Rally as Yields Drop The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Aussie Dollar moved from $0.72330 to $0.72677 upon release of the figures, before rising to $0.7269 at the time of writing, a gain of 0.51% for the session. While we can expect some focus on the stats, geo-political risk will continue to be the key driver through the day, as the Italian coalition government stands firm on its 2019 spending plan and deficit target of 2.4%. At the time of writing, the Pound was flat at $1.32992, with Brexit news the key driver through the day. | 06a0f86a-396b-41b8-a5df-423c1b9fb122 |
709342.0 | 2018-11-13 00:00:00 UTC | Theresa May and Brexit Put the Pound Front and Centre | DBO | https://www.nasdaq.com/articles/theresa-may-and-brexit-put-pound-front-and-centre-2018-11-13 | nan | nan | Earlier in the Day:
Economic data released through the Asian session was on the heavier side this morning, with key stats including November consumer confidence and 3 rd quarter wage growth numbers out of Australia, 1 st estimate GDP numbers for the 3 rd quarter out of Japan and October's fixed asset investment, industrial production and retail sales figures out of China.
Later in the session industrial production and October's tertiary activity index figures will also be released.
For the Aussie Dollar ,
The Westpac Consumer Sentiment Index rose by 2.8% to 104.3, following a 1% rise in October, showing that optimists continued to outnumber pessimists, though the index remains 1.6% below its July high.
Family finances vs a year ago rose from 87.4 to 91.7, a 4.9% increase for the month and 8.2% year-on-year.
Family finances next 12-months rose by 3.2% to 106.1, while up by just 0.7% year-on-year.
Economic conditions next 12-months rose by 1.7% to 104.3 and by 8.4% year-on-year, the sub-index sitting well above its long run average 90.7.
Economic conditions next 5-years jumped by 9.7% to 104.1 in November, with the sub-index up 11.7% year-on-year.
Time to buy a major household item fell by 3.5% to 115.6, leaving the sub-index down 2.7% year-on-year.
Time to buy a dwelling jumped by 11.8% to 114.8, taking the sub-index up 16.7% year-on-year, the jump driven by the recent fall in house prices and relatively low interest rate environment.
The Unemployment Expectations Index fell by 1.9% to 120.4, leaving the index down 7.9% year-on-year, reflecting improved sentiment towards labour market conditions.
The House Price Expectations Index fell, down 2.3% to 99.0 in November to leave the sub-index down 27% year-on-year, with the sub-index at its equal weakest reading on record.
The Aussie Dollar moved from $0.72309 to $0.72317 upon release of the figures that preceded the 3 rd quarter wage growth numbers.
In the 3 rd quarter, wages rose by 0.6% quarter-on-quarter, which was in line with forecasts, whilst 2 nd quarter wage growth was revised downwards from 0.6% to 0.5%, according to the ABS.
Year-on-year, private sector wages rose by 2.1%, while public sector wages rose by 2.5%, leading to a 2.3% rise in the Wage Price Index, year-on-year.
The quarterly growth rate was the highest since the 3 rd quarter of 2015, with the healthcare and social assistance industries seeing the highest growth rate at 2.8%, while mining and retail trade industries lagged with a 1.8% wage growth rate.
The Aussie Dollar moved from $.72359 to $0.72244 upon release of the figures, which came ahead of the stats out of China.
For the Japanese Yen, quarter-on-quarter, the economy contracted by 0.3% in the 3 rd quarter, which was in line with forecasts, while 2 nd quarter growth was revised upward to 0.8%. Year-on-year, the economy contracted by 1.2%, which was worse than a forecasted 1% contraction, following 3% growth in the 2 nd quarter.
Private consumption fell by just 0.1%, quarter-on-quarter, which was better than a forecasted 0.2% decline.
Quarter-on-quarter, capital expenditure fell by 0.2%, which was worse than a forecasted 0.6% rise, following a 3.1% increase in the 2 nd
Quarter-on-quarter, external demand fell by 0.1%, which was in line with forecasts and the previous quarter's decline.
The contraction was attributed, not just to natural disasters that weighed heavily on productivity, but also on weaker overseas demand, with a recovery in the 4 th quarter hinged on domestic consumption and demand from overseas that could disappoint should the global economic outlook darken.
The Japanese Yen moved from ¥113.796 to ¥113.797 against the U.S Dollar upon release of the figures, before easing to ¥113.83 at the time of writing, down by just 0.02% for the session, with September industrial production and the tertiary industry activity index to come, the response to the GDP numbers muted.
Out of China ,
Fixed asset invests rose by 5.7%, coming in ahead of a forecasted 5.5% rise and September's 5.4% increase, year-on-year.
Industrial production increased by 5.9%, year-on-year, in October, coming in ahead of a forecasted 5.7% and September 5.8% rise.
Retail sales by contrast disappointed, with year-on-year retail sales rising by just 8.6%, coming up well short of a forecasted and September 9.2% increase.
Industrial production
The Aussie Dollar moved from $0.72246 to $0.72255 upon release of the figures, before easing back to $0.7217 at the time of writing, a loss of 0.01%, softer retail sales figures the negative on the day.
The Day Ahead:
For the EUR , economic data is on the heavier side for the day ahead, with key stats including 1 st estimate GDP numbers for the 3 rd quarter out of Germany, finalized October inflation numbers out of France and Spain and 2 nd estimate GDP numbers for the 3 rd quarter and September industrial production numbers out of the Eurozone.
We will expect focus to be on Germany's GDP numbers, a forecasted quarter-on-quarter contraction likely to weigh on the EUR should the numbers be in line with or worse than forecasted, with any contraction ultimately a negative as concerns over the global economic outlook build.
Outside of the numbers, we can expect more chatter from Italy's coalition government, which will also influence through the day and could ultimately overshadow much of the stats.
At the time of writing, the EUR was up 0.11% to $1.1302, with Germany's GDP numbers and noise from Italy the key drivers for the EUR through the day.
For the Pound , its October's inflation figures that are due out later this morning, with the annual rate of inflation forecasted to pick up to 2.5%, which would be a positive for the Pound, though softer wholesale inflation figures could pin back any major upside.
Outside of the numbers, we can expect more price action over Brexit, with the British PM now needing to sell the reported draft Brexit plan to her cabinet and beyond.
With Theresa May's cabinet having been given the draft deal on Tuesday night, it's going to be reaction time today and, if the ducks aren't aligned, the Pound could be heading back to $1.28 levels in a hurry.
At the time of writing, the Pound was up 0.26% to $1.3011, with Brexit news the key driver through the day.
Across the Pond , October inflation figures are scheduled for release and we can expect some market sensitivity to the numbers, with a forecasted 0.3% rise in core consumer prices, month-on-month a Dollar positive, with the annual rate of core inflation forecasted to hold at 2.2%, supporting the FED's current stance on monetary policy.
Outside of the numbers, we can expect some movement off the back of a scheduled FED Chair Powell speech, with members Quarles and Daly also due to speak through the day.
On the political front, Brexit, the Eurozone and the Oval Office will influence demand for the safe havens, with the markets likely to be in search of more progress on U.S - China trade talks.
At the time of writing, the Dollar Spot Index was down 0.26% to 97.048, with today's inflation numbers, Capitol Hill and geo-political risk in Europe remaining in focus through the day.
For the Loonie , with another quiet day on theeconomic calendarfront, crude oil will continue to provide direction, with the IEA's monthly report scheduled for release in the early afternoon along with both the weekly API and EIA inventory numbers out of the U.S.
The Loonie was down 0.02% to C$1.3236 against the U.S Dollar at the time of writing, with crude oil prices continuing to be the key driver through the day.
This article was originally posted on FX Empire
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Theresa May and Brexit Put the Pound Front and Centre
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | With Theresa May's cabinet having been given the draft deal on Tuesday night, it's going to be reaction time today and, if the ducks aren't aligned, the Pound could be heading back to $1.28 levels in a hurry. At the time of writing, the Dollar Spot Index was down 0.26% to 97.048, with today's inflation numbers, Capitol Hill and geo-political risk in Europe remaining in focus through the day. For the Loonie , with another quiet day on theeconomic calendarfront, crude oil will continue to provide direction, with the IEA's monthly report scheduled for release in the early afternoon along with both the weekly API and EIA inventory numbers out of the U.S. | Earlier in the Day: Economic data released through the Asian session was on the heavier side this morning, with key stats including November consumer confidence and 3 rd quarter wage growth numbers out of Australia, 1 st estimate GDP numbers for the 3 rd quarter out of Japan and October's fixed asset investment, industrial production and retail sales figures out of China. The Day Ahead: For the EUR , economic data is on the heavier side for the day ahead, with key stats including 1 st estimate GDP numbers for the 3 rd quarter out of Germany, finalized October inflation numbers out of France and Spain and 2 nd estimate GDP numbers for the 3 rd quarter and September industrial production numbers out of the Eurozone. Across the Pond , October inflation figures are scheduled for release and we can expect some market sensitivity to the numbers, with a forecasted 0.3% rise in core consumer prices, month-on-month a Dollar positive, with the annual rate of core inflation forecasted to hold at 2.2%, supporting the FED's current stance on monetary policy. | Earlier in the Day: Economic data released through the Asian session was on the heavier side this morning, with key stats including November consumer confidence and 3 rd quarter wage growth numbers out of Australia, 1 st estimate GDP numbers for the 3 rd quarter out of Japan and October's fixed asset investment, industrial production and retail sales figures out of China. The Day Ahead: For the EUR , economic data is on the heavier side for the day ahead, with key stats including 1 st estimate GDP numbers for the 3 rd quarter out of Germany, finalized October inflation numbers out of France and Spain and 2 nd estimate GDP numbers for the 3 rd quarter and September industrial production numbers out of the Eurozone. Across the Pond , October inflation figures are scheduled for release and we can expect some market sensitivity to the numbers, with a forecasted 0.3% rise in core consumer prices, month-on-month a Dollar positive, with the annual rate of core inflation forecasted to hold at 2.2%, supporting the FED's current stance on monetary policy. | Earlier in the Day: Economic data released through the Asian session was on the heavier side this morning, with key stats including November consumer confidence and 3 rd quarter wage growth numbers out of Australia, 1 st estimate GDP numbers for the 3 rd quarter out of Japan and October's fixed asset investment, industrial production and retail sales figures out of China. The Aussie Dollar moved from $0.72309 to $0.72317 upon release of the figures that preceded the 3 rd quarter wage growth numbers. We will expect focus to be on Germany's GDP numbers, a forecasted quarter-on-quarter contraction likely to weigh on the EUR should the numbers be in line with or worse than forecasted, with any contraction ultimately a negative as concerns over the global economic outlook build. | 1fec2108-4887-4f83-9f8a-235b9d89d769 |
709343.0 | 2018-11-12 00:00:00 UTC | The EUR and the Pound Remain in the Spot Light as Geo-Political Risk Spikes | DBO | https://www.nasdaq.com/articles/eur-and-pound-remain-spot-light-geo-political-risk-spikes-2018-11-12 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was on the lighter side once more, with key stats limited to October business confidence figures out of Australia.
For the Aussie Dollar , October's NAB Business Confidence Index stood at 4, easing by 2 points from September's 6.
The business conditions index also fell by 2 points to +12, with business conditions holding well above the average, while business confidence sits below the average.
October's decline was attributed to the employment component
The Aussie Dollar moved from $0.71701 to $0.71736 upon release of the figures before rising to $0.7180 at the time of writing, a gain of 0.10% for the session.
Elsewhere , the Japanese Yen was up 0.11% to ¥113.71 against the U.S Dollar, with the Kiwi Dollar up 0.21% to $0.6724, the Kiwi Dollar finding support in spite of the risk off sentiment across the broader market, with the Asian equity markets on the slide following the overnight losses in the U.S.
The Day Ahead:
For the EUR , economic data includes finalized October inflation figures out of Germany that are unlikely to have a material impact on the EUR and November economic sentiment numbers out of Germany and the Eurozone, with influence hinged on the Italian Coalition government's budget submission, which will remain the markets main area of focus.
The deadline is today and uncertainty has tanked the EUR over the last week, the EUR having fallen from $1.14 levels to $1.12 levels.
At the time of writing, the EUR was up 0.13% to $1.233, with noise from Italy and Brussels the key driver for the EUR through the day.
For the Pound , it's a busier day on the data front, with key stats scheduled for release this morning including September's wage growth and unemployment rate and October's claimant count figures.
While the numbers traditionally have a material influence on the Pound, we can expect a relatively muted response this time around, with focus remaining on Brexit through the day, the Pound joining the EUR on a slide, with market jitters over a Brexit no deal weighing.
At the time of writing, the Pound was up 0.11% to $1.2863, with Brexit news the key driver through the day.
Across the Pond , there are no material stats scheduled for release, which leaves Capitol Hill as the key driver, while market sentiment towards Brexit and the Italian government could provide further support for the Dollar through the day should the wires deliver more bad news.
At the time of writing, the Dollar Spot Index was up 0.05% to 97.586, with Capitol Hill and geo-political risk in Europe remaining in focus through the day.
For the Loonie , with another quiet day on theeconomic calendarfront, crude oil will continue to provide direction, with OPEC's monthly report scheduled for release in the early afternoon.
The Loonie was up 0.09% to C$1.3235 against the U.S Dollar at the time of writing, with crude oil prices the key driver through the day.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning was on the lighter side once more, with key stats limited to October business confidence figures out of Australia. For the Pound , it's a busier day on the data front, with key stats scheduled for release this morning including September's wage growth and unemployment rate and October's claimant count figures. Across the Pond , there are no material stats scheduled for release, which leaves Capitol Hill as the key driver, while market sentiment towards Brexit and the Italian government could provide further support for the Dollar through the day should the wires deliver more bad news. | For the Pound , it's a busier day on the data front, with key stats scheduled for release this morning including September's wage growth and unemployment rate and October's claimant count figures. Across the Pond , there are no material stats scheduled for release, which leaves Capitol Hill as the key driver, while market sentiment towards Brexit and the Italian government could provide further support for the Dollar through the day should the wires deliver more bad news. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Prediction - Gold Tumbles to Support as Risk Off Trade Perpetuates GBP/USD Price Forecast - Brexit Woes Continue To Weigh Down British Pound Election Optimism Erodes as Investors Shift Focus to Trade Issues The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR , economic data includes finalized October inflation figures out of Germany that are unlikely to have a material impact on the EUR and November economic sentiment numbers out of Germany and the Eurozone, with influence hinged on the Italian Coalition government's budget submission, which will remain the markets main area of focus. Across the Pond , there are no material stats scheduled for release, which leaves Capitol Hill as the key driver, while market sentiment towards Brexit and the Italian government could provide further support for the Dollar through the day should the wires deliver more bad news. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Prediction - Gold Tumbles to Support as Risk Off Trade Perpetuates GBP/USD Price Forecast - Brexit Woes Continue To Weigh Down British Pound Election Optimism Erodes as Investors Shift Focus to Trade Issues The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning was on the lighter side once more, with key stats limited to October business confidence figures out of Australia. Across the Pond , there are no material stats scheduled for release, which leaves Capitol Hill as the key driver, while market sentiment towards Brexit and the Italian government could provide further support for the Dollar through the day should the wires deliver more bad news. The Loonie was up 0.09% to C$1.3235 against the U.S Dollar at the time of writing, with crude oil prices the key driver through the day. | 4238f3eb-2e5c-4565-9abc-8cb818e8a022 |
709344.0 | 2018-11-11 00:00:00 UTC | Brexit and Italy Put the Pound and the EUR in the Mix | DBO | https://www.nasdaq.com/articles/brexit-and-italy-put-pound-and-eur-mix-2018-11-11 | nan | nan | Earlier in the Day:
Economic data released through the Asian session was on the lighter side this morning, with key stats limited to October electronic card sales figures out of New Zealand.
For the Kiwi Dollar , electronic card sales rose by just 0.1% in October, falling well short of a forecasted 0.6% rise and September's 1.1% jump, while year-on-year, sales increased by 6.2%, picking up from September's 5.7% rise.
According to figures released by NZ Stats, most industries showed softer card sales in October, with the exception of the fuel industry, where petrol prices at the pump hit a record high in October, before easing back late in the month.
Month-on-month, spending rose in 4 of the 6 retail industries, the largest in the fuel industry, up by 1.4% (NZ$9.1m).
The largest slide in spending was seen in the apparel industry, with spending down 1.2% (NZ$3.7m).
Core retail spending, which excludes the vehicle-related industries, was flat month-on-month.
Following last week's RBNZ policy decision and upbeat tone, the latest numbers and influence from rising fuel prices will be of little support for those looking for a more hawkish stance on policy.
At the time of writing, the Kiwi Dollar was up 0.1% to $0.6744, investors brushing off the numbers early.
Elsewhere , the Japanese Yen was down 0.14% to ¥113.99, while the Aussie Dollar was up 0.06% to $0.723, recovering some of late last week's reversal that came in response to a hawkish FED.
The Day Ahead:
For the EUR , there are no material stats scheduled for release through the morning, leaving the markets to focus on Italy and the coalition government's budget plans ahead of tomorrow's EU Commission deadline.
While the budget is the primary area of focus, infighting within the coalition government could see a collapse of the government and a new election. What a coup that would be for the Establishment and the pro-EU camp.
At the time of writing, the EUR was down 0.11% to $1.1324, with noise from Italy the key driver for the EUR through the day.
For the Pound , a quiet day on the data front leaves Brexit chatter the main area of focus through the day, with Brexit news from over the weekend giving the markets little confidence early on in the Asian session. Negative comments from both the EU on outstanding issues and from within the Tory party have brought the Pound back to its knees.
At the time of writing, the Pound was down 0.32% to $1.2931, with Brexit news the key driver through the day.
Across the Pond , a quiet day on the data front will leave Capitol Hill in focus, as the market looks towards the Democrats and their plans for the remainder of the year and the next 2-years and what possible impact there will be on the U.S economy and ultimately monetary policy.
From the Oval Office, the U.S - China trade war will be in focus, with Trump ever more incentivised to deliver a U.S - China trade agreement.
At the time of writing, the Dollar Spot Index was up 0.10% to 97.03, with Capitol Hill and geo-political risk in Europe in focus through the day.
For the Loonie , there are also no material stats scheduled for release, leaving crude oil prices and market risk sentiment to provide direction through the day, a bounce in crude oil prices early in the day providing the Loonie with much needed support.
The Loonie was up 020% to C$1.3186 against the U.S Dollar at the time of writing, with crude oil prices the key driver through the day.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session was on the lighter side this morning, with key stats limited to October electronic card sales figures out of New Zealand. Across the Pond , a quiet day on the data front will leave Capitol Hill in focus, as the market looks towards the Democrats and their plans for the remainder of the year and the next 2-years and what possible impact there will be on the U.S economy and ultimately monetary policy. This article was originally posted on FX Empire More From FXEMPIRE: E-mini Dow Jones Industrial Average (YM) Futures Analysis - Weekly Upside Bias as Long as 25866 Holds as Support DAX Index Daily Price Forecast - DAX Likely To Face Bearish Pressure Over Concerns of Global Economic Slowdown E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis - Weekly Chart Strengthens Over 7290.25, Weakens Under 7154.50 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR , there are no material stats scheduled for release through the morning, leaving the markets to focus on Italy and the coalition government's budget plans ahead of tomorrow's EU Commission deadline. For the Pound , a quiet day on the data front leaves Brexit chatter the main area of focus through the day, with Brexit news from over the weekend giving the markets little confidence early on in the Asian session. For the Loonie , there are also no material stats scheduled for release, leaving crude oil prices and market risk sentiment to provide direction through the day, a bounce in crude oil prices early in the day providing the Loonie with much needed support. | For the Pound , a quiet day on the data front leaves Brexit chatter the main area of focus through the day, with Brexit news from over the weekend giving the markets little confidence early on in the Asian session. For the Loonie , there are also no material stats scheduled for release, leaving crude oil prices and market risk sentiment to provide direction through the day, a bounce in crude oil prices early in the day providing the Loonie with much needed support. This article was originally posted on FX Empire More From FXEMPIRE: E-mini Dow Jones Industrial Average (YM) Futures Analysis - Weekly Upside Bias as Long as 25866 Holds as Support DAX Index Daily Price Forecast - DAX Likely To Face Bearish Pressure Over Concerns of Global Economic Slowdown E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis - Weekly Chart Strengthens Over 7290.25, Weakens Under 7154.50 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | According to figures released by NZ Stats, most industries showed softer card sales in October, with the exception of the fuel industry, where petrol prices at the pump hit a record high in October, before easing back late in the month. The Day Ahead: For the EUR , there are no material stats scheduled for release through the morning, leaving the markets to focus on Italy and the coalition government's budget plans ahead of tomorrow's EU Commission deadline. The Loonie was up 020% to C$1.3186 against the U.S Dollar at the time of writing, with crude oil prices the key driver through the day. | 0c4f1432-f897-4abc-ad95-2ac869fa28f1 |
709345.0 | 2018-11-08 00:00:00 UTC | It’s All Eyes on GBP, with a Slew of Stats and Brexit in Focus | DBO | https://www.nasdaq.com/articles/its-all-eyes-gbp-slew-stats-and-brexit-focus-2018-11-08 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was on the lighter side, with key stats limited to September home loan figures out of Australia and October inflation figures out of China.
Outside of the numbers, the RBA's Statement on Monetary Policy was also released, following Tuesday's interest rate decision, as the markets responded to the FED's latest FOMC statement that signalled a green light for a December move.
For the Aussie Dollar ,
New home loans fell by 1% in September, month-on-month, which was worse than a forecasted 0.9% decline, following a downwardly revised 2.2% slide in August, according to figures released by the ABS.
Owner occupied housing home loans fell by 1.2%, month-on-month, with investment housing loans falling by 0.9%.
Year-on-year, new home loans fell by 3.8%, with owner occupied housing loans slumped by 4.2%, while investment housing loans fell by 2.8%.
From the Statement on Monetary Policy, there were few surprises, with the RBA continuing to raise concerns over household income and risks to domestic consumption, while noting that economic growth and inflation had come in above estimates, with wage growth also seeing an uptick, though not enough to shift the RBA's stance on policy.
Concerns over wage growth and consumption have continued to pin the RBA back from making a move on rates and, with the ongoing U.S - China trade war, there's more downside risk to confidence and the economy, with a fall in the equity markets and house prices adding further downside to consumer sentiment.
The Aussie Dollar moved from $0.72650 to $0.72583 upon release of the minutes and the stats, before easing to $0.7246 at the time of writing, a loss of 0.14% for the session.
Out of China, consumer prices rose by 0.2% in October, month-on-month, in line with a forecasted 0.2%, whilst easing from Septembers 0.7%. The annual rate of inflation held steady at 2.5% in October, which was in line with forecasts, whilst the annual rate of wholesale inflation eased from 3.6% to 3.4%, also in line with forecasts.
Elsewhere , the Japanese Yen was up 0.15% to ¥113.9, with the Dollar giving up some of the FOMC driven gains, while the Kiwi Dollar saw red, with monetary policy divergence favouring the U.S Dollar, the Kiwi Dollar down 0.12% to $0.6746 at the time of writing.
The Day Ahead:
For the EUR , after a relatively busy week on the data front, there are material stats scheduled for release through the day, leaving the EUR in the hands of geo-political risk, the Italian coalition government's face off with Brussels not the only issue the markets are facing, with infighting between the two sides of the coalition also a factor.
At the time of writing, the EUR was down 0.03% to $1.136, with noise from Italy the key driver for the EUR through the day.
For the Pound , it's a particularly busy day on the data front, with key stats scheduled for release through the morning including 3 rd quarter and monthly GDP figures, 3 rd quarter business investment numbers, September trade data and industrial and manufacturing production numbers that are due out ahead of the NIESR's UK GDP Estimate this afternoon.
While the stats are skewed in favour of the Pound, which should provide some support, it all continues to hinge on Brexit, with the UK government rapidly running out of time if a deal is to be had before the end of the year.
At the time of writing, the Pound was down 0.03% at $1.3058, with Brexit and today's stats the key drivers through the day.
Across the Pond , stats out of the U.S are limited October wholesale inflation figures and prelim consumer sentiment figures for November, the 2-weeks of the prelim survey ending on 7 th November unlikely to truly reflect consumer sentiment towards the mid-term election results ahead of the finalized numbers due out 21 st November.
Outside of the numbers, we can expect chatter from Capitol Hill to have an influence on the Dollar, with the dust having yet settled from the mid-terms, the Republican's loss of the House and the sacking of Attorney-General Jeff Sessions.
At the time of writing, the Dollar Spot Index was down 0.07% to 96.656, today's stats and Capitol Hill in focus on the day.
For the Loonie , there are no material stats scheduled for release, leaving crude oil prices and market risk sentiment to provide direction through the day, the slide in crude oil prices weighing ahead of OPEC's meeting this coming weekend.
The Loonie was down 0.01% to C$1.3156 against the U.S Dollar at the time of writing, with crude oil prices the key driver through the day.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Aussie Dollar , New home loans fell by 1% in September, month-on-month, which was worse than a forecasted 0.9% decline, following a downwardly revised 2.2% slide in August, according to figures released by the ABS. While the stats are skewed in favour of the Pound, which should provide some support, it all continues to hinge on Brexit, with the UK government rapidly running out of time if a deal is to be had before the end of the year. Outside of the numbers, we can expect chatter from Capitol Hill to have an influence on the Dollar, with the dust having yet settled from the mid-terms, the Republican's loss of the House and the sacking of Attorney-General Jeff Sessions. | For the Pound , it's a particularly busy day on the data front, with key stats scheduled for release through the morning including 3 rd quarter and monthly GDP figures, 3 rd quarter business investment numbers, September trade data and industrial and manufacturing production numbers that are due out ahead of the NIESR's UK GDP Estimate this afternoon. Across the Pond , stats out of the U.S are limited October wholesale inflation figures and prelim consumer sentiment figures for November, the 2-weeks of the prelim survey ending on 7 th November unlikely to truly reflect consumer sentiment towards the mid-term election results ahead of the finalized numbers due out 21 st November. For the Loonie , there are no material stats scheduled for release, leaving crude oil prices and market risk sentiment to provide direction through the day, the slide in crude oil prices weighing ahead of OPEC's meeting this coming weekend. | Earlier in the Day: Economic data released through the Asian session this morning was on the lighter side, with key stats limited to September home loan figures out of Australia and October inflation figures out of China. For the Pound , it's a particularly busy day on the data front, with key stats scheduled for release through the morning including 3 rd quarter and monthly GDP figures, 3 rd quarter business investment numbers, September trade data and industrial and manufacturing production numbers that are due out ahead of the NIESR's UK GDP Estimate this afternoon. This article was originally posted on FX Empire More From FXEMPIRE: GBP/JPY Price Forecast November 9 S&P 500 Price Forecast November 9 Natural Gas Price Prediction - Prices Consolidate Despite Inventory Build The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning was on the lighter side, with key stats limited to September home loan figures out of Australia and October inflation figures out of China. Out of China, consumer prices rose by 0.2% in October, month-on-month, in line with a forecasted 0.2%, whilst easing from Septembers 0.7%. At the time of writing, the Pound was down 0.03% at $1.3058, with Brexit and today's stats the key drivers through the day. | fdc80ea1-343c-4f68-b659-3b79b41fc126 |
709346.0 | 2018-11-08 00:00:00 UTC | China Exports Surge Ahead of the FED and a December Green Light | DBO | https://www.nasdaq.com/articles/china-exports-surge-ahead-fed-and-december-green-light-2018-11-08 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was on the heavier side, with key stats including September current account and machinery orders out of Japan that were released ahead of October trade figures out of China.
Outside of the stats, the RBNZ delivered its monetary policy decision and policy statement ahead of a press conference, the Kiwi Dollar in action ahead of the opening bell.
For the Kiwi Dollar ,
The RBNZ held rates unchanged at 1.75%, which was in line with market expectations, with focus being on the policy statement and RBNZ press conference.
While the hold on rates was expected, the RBNZ was clearly showing little intent to take a more hawkish outlook on policy, stating its intention is to keep the official cash rate at current levels through 2019 and 2020.
The RBNZ also stated that there are a number of risks being monitored and in the event of these risks materializing, the official cash rate may need to be adjusted to ensure inflation hits target and maximum sustainable employment is achieved.
Risks and uncertainties identified by the RBNZ included a faster pickup in inflation than anticipated that could force the RBNZ to lift rates sooner, or a possible slowdown in the Kiwi economy due to a weaker investment growth or softer demand for products should the ongoing trade war between the U.S and China begin to bite. Slower growth would lead to weak price pressure and employment growth that could lead to the RBNZ lowering rates to support employment and prop up inflation at around 2%.
The Kiwi Dollar moved from $0.67896 to $0.67820 on the release of the statements and policy decision, while holding steady through the press conference, holding on to $0.6783 levels. At the time of writing, the Kiwi Dollar was up 0.3% to $0.679, supported by the pickup in risk appetite through the morning.
For the Japanese Yen ,
The current account surplus narrowed from ¥1.838tn to ¥1.822tn, which was worse than a forecasted widening to ¥1.897tn, while of greater significance will have been a material slide in core machinery orders.
Year-on-year, core machinery orders fell by 7%, which was worse than a forecasted 7.7% rise following August's 12.6% jump.
Month-on-month, core orders tumbled by 18.3%, which was worse than a forecasted 10% fall following a 6.8% rise in August.
The slide in core machinery orders was the most on record, though much of this was attributed to an earthquake and typhoons that weighed on output, October's numbers needing to bounce back to ease any concerns over demand.
The Japanese Yen moved from ¥113.57 to ¥113.553, against the U.S Dollar, upon release of the figures before easing to ¥113.69 at the time of writing, down 0.15% for the session.
Out of China, trade data may well have perplexed the U.S President, with exports surging by 15.6% in October, coming in well ahead of a forecasted 11% and September 14.5% rise. Imports also saw a significant jump, rising by 21.4%, which was better than a forecasted 14% rise, following September's 14.3% increase.
The trade surplus, in Dollar terms, widened from $31.70bn to $34.01bn, coming up short of a forecasted widening to $36.27bn, though few in the market will be put off by the numbers.
The Aussie Dollar moved from $0.72693 to $0.72773 upon release of the figures, before rising to $0.7280 at the time of writing, a gain of 0.05% for the session.
In the equity markets ,
It was a bullish start to the day, with the Asian majors on the bounce, the Nikkei leading the charge, rallying by 1.93%, with the Hang Seng and CSI300 up 0.90% and by 0.68% respectively at the time of writing. Lagging behind was the ASX200, which was up just 0.46%, the morning gains coming off the back of strong gains from the U.S and this morning's trade figures out of China, though the majors have eased back from more material gains from earlier in the session.
The Day Ahead:
For the EUR , economic data scheduled for release is limited to September trade figure out of Germany that will likely garner some interest, a forecasted narrowing in Germany's trade surplus EUR negative, though with the ECB economic bulletin and EU economic forecast also due out, outlook may ultimately have the final say.
On the political front, a pullback in the Dollar has seen the EUR bounce, with the Italian coalition government's budget now likely to draw more attention as the dust settles from the U.S mid-terms, the Italian government seemingly showing little interest to conform to the EU's rules.
At the time of writing, the EUR was up 0.03% to $1.1429, Germany's trade figures and geo-political risk in the mix through the day.
For the Pound , there are no material stats scheduled for release through the day, with a slide in the RICS House Price Balance for October having little impact on the Pound, the house price balance falling by 10% following a 2% fall in September.
Focus remains on Brexit, with a cabinet meeting to sign off on a framework to a Brexit deal likely to come during or after the weekend, the British PM in Brussels today ahead of a gathering of EU leaders over the weekend that gives Theresa May opportunity to try to wrap up the Irish border issue ahead of the next EU Summit later this month.
At the time of writing, the Pound was flat at $1.3126, with Brexit the area of focus through the day.
Across the Pond , economic data scheduled for release out of the U.S is limited to the weekly jobless claims figures that are unlikely to have a material bearing on the Dollar, with focus shifting to today's FOMC meeting, where rates are expected to be left unchanged, while the FOMC statement may well give a green light to a December rate hike that is largely priced in.
Assuming there are no surprises from today's FOMC statement, we can expect the Dollar to continue to respond to the mid-terms, with some chatter from Capitol Hill to be expected.
At the time of writing, the Dollar Spot Index was up 0.21% to 96.194, the FED and Capitol Hill in focus on the day.
For the Loonie , economic data is limited to housing sector figures that are unlikely to have a material bearing on the Loonie, with the ongoing slide in crude oil prices , off the back of rising inventories, pinning the Loonie back from any upside this week.
The Loonie was down 0.02% to C$1.3115 against the U.S Dollar at the time of writing, with crude oil prices the key driver through the day.
This article was originally posted on FX Empire
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DAX Index Daily Price Forecast - Dax To Continue Bullish Price Action
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Japanese Yen , The current account surplus narrowed from ¥1.838tn to ¥1.822tn, which was worse than a forecasted widening to ¥1.897tn, while of greater significance will have been a material slide in core machinery orders. The slide in core machinery orders was the most on record, though much of this was attributed to an earthquake and typhoons that weighed on output, October's numbers needing to bounce back to ease any concerns over demand. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD and NZD/USD Fundamental Daily Forecast - RBNZ Stays Dovish, Fed to Maintain Hawkish Tone Trading plan for November 8 DAX Index Daily Price Forecast - Dax To Continue Bullish Price Action The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Outside of the stats, the RBNZ delivered its monetary policy decision and policy statement ahead of a press conference, the Kiwi Dollar in action ahead of the opening bell. The Day Ahead: For the EUR , economic data scheduled for release is limited to September trade figure out of Germany that will likely garner some interest, a forecasted narrowing in Germany's trade surplus EUR negative, though with the ECB economic bulletin and EU economic forecast also due out, outlook may ultimately have the final say. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD and NZD/USD Fundamental Daily Forecast - RBNZ Stays Dovish, Fed to Maintain Hawkish Tone Trading plan for November 8 DAX Index Daily Price Forecast - Dax To Continue Bullish Price Action The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR , economic data scheduled for release is limited to September trade figure out of Germany that will likely garner some interest, a forecasted narrowing in Germany's trade surplus EUR negative, though with the ECB economic bulletin and EU economic forecast also due out, outlook may ultimately have the final say. Across the Pond , economic data scheduled for release out of the U.S is limited to the weekly jobless claims figures that are unlikely to have a material bearing on the Dollar, with focus shifting to today's FOMC meeting, where rates are expected to be left unchanged, while the FOMC statement may well give a green light to a December rate hike that is largely priced in. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD and NZD/USD Fundamental Daily Forecast - RBNZ Stays Dovish, Fed to Maintain Hawkish Tone Trading plan for November 8 DAX Index Daily Price Forecast - Dax To Continue Bullish Price Action The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Kiwi Dollar , The RBNZ held rates unchanged at 1.75%, which was in line with market expectations, with focus being on the policy statement and RBNZ press conference. For the Japanese Yen , The current account surplus narrowed from ¥1.838tn to ¥1.822tn, which was worse than a forecasted widening to ¥1.897tn, while of greater significance will have been a material slide in core machinery orders. The Day Ahead: For the EUR , economic data scheduled for release is limited to September trade figure out of Germany that will likely garner some interest, a forecasted narrowing in Germany's trade surplus EUR negative, though with the ECB economic bulletin and EU economic forecast also due out, outlook may ultimately have the final say. | fc9a18d1-bfc2-44be-a7e3-601836f7b2ab |
709347.0 | 2018-11-06 00:00:00 UTC | It’s the U.S Mid-Terms! Is Trump About to Lose his Mojo? | DBO | https://www.nasdaq.com/articles/its-us-mid-terms-trump-about-lose-his-mojo-2018-11-06 | nan | nan | Earlier in the Day:
Economic data released through the Asian session was limited to household spending figures out of Japan, while on the monetary policy front, there was the RBA's November monetary policy decision and release of its rate statement.
For the Japanese Yen , household spending tumbled by 4.5%, month-on-month, in September, coming in far worse than a forecasted 1.8% decline, while also reversing August's 3.5% jump in spending. Year-on-year, spending fell by 1.6%, which was worse than a forecasted 1.6% rise and August's 2.8% increase.
Contributing to the slide in household spending year-on-year were: a 7.4% slide in spending on medical care, a 3.3% fall in spending on housing, a 3% decline in spending on culture & recreation and a 2.8% fall in spending on education.
There were also falls in spending on food (-1.8%); fuel, light & water charges (-0.7%); on furniture & household utensils (-1.1%) and transportation and communication (-0.8%).
The only rise in household spending, year-on-year, was on clothing & footwear, which increased by 0.9%.
According to the latest figures, income fell by 1.5%, with disposable income falling by 1.8%.
The Japanese Yen moved from ¥113.211 to ¥113.243, against the U.S Dollar, upon release of the figures, before falling to ¥113.31 at the time of writing, down 0.11% for the session, with direction through the rest of the day likely to be driven by market risk sentiment ahead of today's U.S midterms.
For the Aussie Dollar , the RBA held rates unchanged at 1.5% this morning, which was in line with market expectations. Salient points from the RBA rate statement included:
The Australian economy is doing well, the GDP increasing by 3.4%, with unemployment at a 6-year low.
Economic growth forecasts for 2018 and 2019 have been revised upwards to average around 3.5% over the 2-years, before slowing in 2020.
Business conditions are positive and non-mining business investment is expected to rise.
Household consumption remains an uncertainty, with household income growth subdued, debt levels on the higher side and some asset prices in decline.
Trade terms have increased and stronger than previously expected, boosting national income.
Outlook for labour market remains positive and the unemployment rate is expected to fall to around 4.75% in 2020, which should support wage growth over time, albeit gradual.
Inflation remains low and stable and in line with Bank forecasts, influenced by changes in government policies and is expected to pick up over the next couple of years.
Housing sector conditions have continued to ease and rent inflation remains low, while growth in owner-occupiers remains robust, in spite of some easing.
The Aussie Dollar moved from $0.72102 to $0.72154 upon release of the statement, the hold on rates expected, while an optimistic on economic growth prospects provided support.
Elsewhere, the Kiwi Dollar continued to struggle, down 0.15% to $0.6647 at the time of writing, with uncertainty over a near-term resolution to the U.S China trade war weighing ahead of this week's RBNZ monetary policy decision on Thursday, where the lack of a resolution to the trade war will likely be reason enough to remain in its current holding pattern.
The Day Ahead:
For the EUR , economic data scheduled for release is on the heavier side, with key stats through the day including finalized October service sector PMI numbers out of France, Germany and the Eurozone that are released with PMI numbers out of Spain and Italy and, of greater significance, September factory orders out of Germany.
With the U.S mid-term elections taking centre stage, the Italian coalition government continues to stand strong against the European Commission on the rejected budget proposal. Italy has until 13 th November to deliver a revised budget and, with Italy's debt already downgraded by Moody's, rising borrowing costs, ballooning debt, a high unemployment rate and a slowing economy spells trouble, not just for Italy but for the Eurozone and the EUR.
At the time of writing, the EUR was down 0.01% to $1.1387, Germany's factory orders, forecasted to be EUR negative, and geo-political risk the key drivers through the day.
For the Pound , economic data was limited to October's BRC Retail Sales Monitor figures that were released in the early part of the Asian session.
The BRC retail sales monitor rose by 1.3% in October, coming in well ahead of a forecasted 0.6%, while also reversing September's 0.2% decline.
While the numbers were on the positive side, providing support to the Pound, Brexit continues to be the key driver, the recent upward momentum coming off the back of hopes of a deal at the final hour. With the Irish Prime Minister looking to lay down the law on the Irish border issue and with Theresa May scheduled to update her cabinet on where things stand later today, it may not be all plane sailing for the Pound.
The Pound moved from $1.30564 to $1.30602 upon release of the figures, before easing to $1.3049 at the time of writing, up 0.05% for the session.
Across the Pond , with economic data limited to September's JOLTs job openings, we can expect the Dollar to be in the hands of the mid-term elections, with weakness coming in anticipation of the Democrats taking over the House of Representatives, which would bring to an end the U.S President's free reign on policy and the Obama reversal plan.
At the time of writing, the Dollar Spot Index was up 0.12% to 96.399, with the mid-terms and noise from the Oval Office the key drivers through the day.
For the Loonie , material stats are limited to September building permit figures that are unlikely to have a material impact on the Loonie that has failed to make up ground against the U.S Dollar in spite of some hawkish policy talk from BoC Governor Poloz and a U.S Dollar pullback going into today's mid-terms.
The Loonie was down 0.03% to C$1.3114 against the U.S Dollar at the time of writing, with crude oil prices to provide direction through the day, the slide in China's private sector PMIs in October having added further downward pressure on the demand outlook at the start of the week.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Japanese Yen moved from ¥113.211 to ¥113.243, against the U.S Dollar, upon release of the figures, before falling to ¥113.31 at the time of writing, down 0.11% for the session, with direction through the rest of the day likely to be driven by market risk sentiment ahead of today's U.S midterms. Across the Pond , with economic data limited to September's JOLTs job openings, we can expect the Dollar to be in the hands of the mid-term elections, with weakness coming in anticipation of the Democrats taking over the House of Representatives, which would bring to an end the U.S President's free reign on policy and the Obama reversal plan. The Loonie was down 0.03% to C$1.3114 against the U.S Dollar at the time of writing, with crude oil prices to provide direction through the day, the slide in China's private sector PMIs in October having added further downward pressure on the demand outlook at the start of the week. | Earlier in the Day: Economic data released through the Asian session was limited to household spending figures out of Japan, while on the monetary policy front, there was the RBA's November monetary policy decision and release of its rate statement. The Day Ahead: For the EUR , economic data scheduled for release is on the heavier side, with key stats through the day including finalized October service sector PMI numbers out of France, Germany and the Eurozone that are released with PMI numbers out of Spain and Italy and, of greater significance, September factory orders out of Germany. For the Pound , economic data was limited to October's BRC Retail Sales Monitor figures that were released in the early part of the Asian session. | Earlier in the Day: Economic data released through the Asian session was limited to household spending figures out of Japan, while on the monetary policy front, there was the RBA's November monetary policy decision and release of its rate statement. Contributing to the slide in household spending year-on-year were: a 7.4% slide in spending on medical care, a 3.3% fall in spending on housing, a 3% decline in spending on culture & recreation and a 2.8% fall in spending on education. The Day Ahead: For the EUR , economic data scheduled for release is on the heavier side, with key stats through the day including finalized October service sector PMI numbers out of France, Germany and the Eurozone that are released with PMI numbers out of Spain and Italy and, of greater significance, September factory orders out of Germany. | Earlier in the Day: Economic data released through the Asian session was limited to household spending figures out of Japan, while on the monetary policy front, there was the RBA's November monetary policy decision and release of its rate statement. For the Japanese Yen , household spending tumbled by 4.5%, month-on-month, in September, coming in far worse than a forecasted 1.8% decline, while also reversing August's 3.5% jump in spending. The Japanese Yen moved from ¥113.211 to ¥113.243, against the U.S Dollar, upon release of the figures, before falling to ¥113.31 at the time of writing, down 0.11% for the session, with direction through the rest of the day likely to be driven by market risk sentiment ahead of today's U.S midterms. | e4b392c4-5408-4fa2-b6df-7cc27a1aa108 |
709348.0 | 2018-11-06 00:00:00 UTC | Iran Sanctions Unlikely to Boost Oil ETFs in 2019? | DBO | https://www.nasdaq.com/articles/iran-sanctions-unlikely-boost-oil-etfs-2019-2018-11-06 | nan | nan | The United States formally levied tough sanctions on Iran from Nov 5. The United States' sanctions against Iran were first put into place in August. That sanctions were on cars, metals and minerals as well as U.S. and European aircraft.
The second part of the sanctions that bans import of Iranian energy was enacted starting Nov 5. These sanctions are part of President Donald Trump's initiative to put an embargo on Iran's missile and nuclear programs and diminish its influence in the Middle East , per CNBC.
However, Washington has also offered temporary waivers to eight key buyers, China, India, Greece, Italy, Taiwan, Japan, Turkey and South Korea, allowing them to continue to import oil from Iran. This in turn kept oil market steady. Iran's oil exports were 1.7 million barrels per day in October , per oilprice.com (read: Oil ETFs: What You Need to Know ).
But Goldman Sachs revealed in a research note that "as more Iranian supply goes offline, the market will continue to tighten. Iran could lose nearly 600,000 bpd of exports by the end of the year, relative to October levels." So, Goldman expects the oil market to record deficit in the fourth quarter of this year, as quoted on oilprice.com.
Against this backdrop, along with many analysts we believe that oil prices may not shoot up in 2019. We'll tell you why.
U.S., Russia & Saudi to Scale Up Supplies
As soon as Iranian output is out of the market, high chances are that key producers like Saudi Arabia and Russia will start pumping more. The United States and Russia have both scaled up production to a record level of about 11.3 million barrels a day, while members of the Organization of the Petroleum Exporting Countries (OPEC) boosted production to the highest levels in two years despite drop-offs in Venezuela and Iran.
The trio - Russia, the United States and Saudi Arabia - increased output above 33 million bpd for the first time in October, up 10 million bpd since 2010 (read: 3 Country ETFs That Are Beneficiary of Higher Oil Prices ).
Iranian Supplies to Phase Out Slower Than Expected?
Investors should note that following the sanctions, there were not much changes in the market sentiments. This was because of the fact that Iranian oil exports plunged to around 1.3 million barrels a day from 2.4 million last spring, as customers resorted to other suppliers in expectation of the sanctions, nytimes.com. Though the sanctions are likely to cut about 2% of global oil supplies, administration's waivers hinted at a patient approach by Washington toward European and Asian customers so that they could find other suppliers.
Dwindling Demand?
Moreover, economic growth in China is slowing down. It recorded the lowest year-over-year growth rate in the third quarter of 2018 since the first quarter of 2009. The situation in the Eurozone in Q3 was the same, marking the feeblest growth rate since the second quarter of 2014 . Such dwindling growth profile points at weaker demand.
What's in Store for 2019?
Goldman expects backwardation in the oil market. It expects Brent to trade around $80 per barrel by the end of the year and slip to $65 per barrel by the end of 2019 as midstream Permian constraints are likely to be relieved .
ETFs in Focus
Against this backdrop, investors should keep a track of oil ETFs in the coming days. These funds include the likes of United States Oil FundUSO , Invesco DB Oil FundDBO , ProShares Ultra Bloomberg Crude OilUCO and United States 12 Month Oil FundUSL .
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US-12 MONTH OIL (USL): ETF Research Reports
PRO-ULT BB CRUD (UCO): ETF Research Reports
US-OIL FUND LP (USO): ETF Research Reports
PWRSH-DB OIL FD (DBO): ETF Research Reports
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | These funds include the likes of United States Oil FundUSO , Invesco DB Oil FundDBO , ProShares Ultra Bloomberg Crude OilUCO and United States 12 Month Oil FundUSL . Click to get this free report US-12 MONTH OIL (USL): ETF Research Reports PRO-ULT BB CRUD (UCO): ETF Research Reports US-OIL FUND LP (USO): ETF Research Reports PWRSH-DB OIL FD (DBO): ETF Research Reports To read this article on Zacks.com click here. These sanctions are part of President Donald Trump's initiative to put an embargo on Iran's missile and nuclear programs and diminish its influence in the Middle East , per CNBC. | Click to get this free report US-12 MONTH OIL (USL): ETF Research Reports PRO-ULT BB CRUD (UCO): ETF Research Reports US-OIL FUND LP (USO): ETF Research Reports PWRSH-DB OIL FD (DBO): ETF Research Reports To read this article on Zacks.com click here. These funds include the likes of United States Oil FundUSO , Invesco DB Oil FundDBO , ProShares Ultra Bloomberg Crude OilUCO and United States 12 Month Oil FundUSL . Iran's oil exports were 1.7 million barrels per day in October , per oilprice.com (read: Oil ETFs: What You Need to Know ). | These funds include the likes of United States Oil FundUSO , Invesco DB Oil FundDBO , ProShares Ultra Bloomberg Crude OilUCO and United States 12 Month Oil FundUSL . Click to get this free report US-12 MONTH OIL (USL): ETF Research Reports PRO-ULT BB CRUD (UCO): ETF Research Reports US-OIL FUND LP (USO): ETF Research Reports PWRSH-DB OIL FD (DBO): ETF Research Reports To read this article on Zacks.com click here. Iran's oil exports were 1.7 million barrels per day in October , per oilprice.com (read: Oil ETFs: What You Need to Know ). | These funds include the likes of United States Oil FundUSO , Invesco DB Oil FundDBO , ProShares Ultra Bloomberg Crude OilUCO and United States 12 Month Oil FundUSL . Click to get this free report US-12 MONTH OIL (USL): ETF Research Reports PRO-ULT BB CRUD (UCO): ETF Research Reports US-OIL FUND LP (USO): ETF Research Reports PWRSH-DB OIL FD (DBO): ETF Research Reports To read this article on Zacks.com click here. Iran's oil exports were 1.7 million barrels per day in October , per oilprice.com (read: Oil ETFs: What You Need to Know ). | ec8cd56b-e6f4-4420-8e53-8b441c80abf0 |
709349.0 | 2018-11-04 00:00:00 UTC | China Stats Weigh Early as Focus Shifts to mid-Terms and the USD | DBO | https://www.nasdaq.com/articles/china-stats-weigh-early-focus-shifts-mid-terms-and-usd-2018-11-04 | nan | nan | Earlier in the Day:
Economic data released through the Asian session was on the lighter side this morning, with key stats limited to China's October service sector PMI number, which has grown in significance as the Chinese government continues to drive the transition away from manufacturing.
Outside of the stats, the Bank of Japan was also in focus, with September's monetary policy meeting minutes and BoJ Governor Kuroda speaking early in the day. While the BoJ monetary policy meeting minutes from the September meeting provided little for the markets to consider, with last week's policy decision and statements being more current, the early Kuroda speech continued to support the BoJ's accommodative stance on policy, with risks to the Japanese economy stemming from uncertainty abroad on the rise.
The Japanese Yen moved from ¥113.145 to ¥113.197, against the U.S Dollar, through the early morning and Kuroda speech, before rising to ¥113.13 at the time of writing, a gain of 0.06% for the session.
Out of China , the Caixin services PMI came in at a 13-month low 50.8, coming up well short of a forecasted 52.9 and September's 53.1, adding more concerns over the effects of the ongoing trade war on the Chinese economy and beyond. The slide in the service sector PMI took the composite PMI to a 28-month low 50.5.
According to the latest survey:
Softer services activity coincided with the first stagnation of new business in almost 10-years, with firms noting subdued demand going into the 4 th
New orders for the composite PMI (both manufacturing and services) was at its weakest in 32-months.
Staffing levels increased in the services sector in spite of weak new business, with firms looking to boost operational capacity.
Unfinished business fell for a 2 nd consecutive month.
Operating expenses were on the rise through the month, albeit at a slower pace than in September, the uptick attributed to higher fuel costs and rising staffing costs, with prices charged also rising in October.
Optimism eased through the month, with concerns over the U.S - China trade war weighing.
The Aussie Dollar moved from $0.71873 to $0.71904 upon release of the figures, before easing to $0.7188 at the time of writing, down 0.07% for the session, with hopes of a near-term trade agreement between the U.S and China easing following Kudlow's downplay of a quick deal at the end of last week.
Elsewhere, the Kiwi Dollar saw heavy losses through the early part of the day, down 0.3% to $0.6641, the slide coming off the back of last week's heft 2.45% rally that came off the back of improved sentiment towards an end to the ongoing trade war.
The Day Ahead:
For the EUR , economic data scheduled for release is limited to unemployment change numbers out of Spain that are unlikely to have a material impact on the EUR, with focus in the early part of the week being on the mid-term elections in the U.S and of greater significance to the EUR, political and economic uncertainty, 3 rd quarter growth having disappointed and with the Italian government looking to thrash it out in Brussels as the economy grounds to a halt.
At the time of writing, the EUR was down 0.01% to $1.1387, with geo-political risk the key driver through the day.
For the Pound , economic data scheduled for release is limited to October's service sector PMI that will need to impress following a weaker manufacturing PMI released last week, though it's ultimately going to boil down to Brexit chatter through the day.
Expectations are that a favourable Brexit deal will deliver a bounce back in the UK economy and also a more hawkish BoE, which would certainly see a spike in the Pound, though there's still a long way to go to a suggested deal by 21 st November that will continue to see the Pound swing.
At the time of writing, the Pound was up 0.16% to $1.2991, with Brexit chatter the key driver through the day.
Across the Pond , economic data due out is limited to the market's preferred ISM non-manufacturing PMI figures for October that will provide some further guidance on the direction of the U.S economy going into the 4 th quarter. While there will be a Dollar response to the numbers, we can expect focus to primarily be on the U.S mid-terms, with focus also likely to be on any updates on trade talks between the U.S and China and sentiment towards the FED's policy decision at the end of the week and outlook on rates for December and the year ahead.
Talk of the Democrats taking both houses would be considered Dollar negative, Trump's fiscal policy plans likely to come to a grinding halt, with an easing in trade war jitters also Dollar negative. Of interest will be the FED's view on the mid-term results at the end of the week, with a tying of Trump's hands likely to be a hot topic of discussion amongst FOMC members.
At the time of writing, the Dollar Spot Index was down 0.06% to 96.483, with today's stats and the Oval Office the key drivers through the day.
For the Loonie , there are no material stats scheduled for release through the day, leaving the Loonie in the hands of market risk sentiment and the direction in oil prices , which have been on the back foot as the U.S administration rolls out waivers to the latest sanctions on Iran's crude oil.
The Loonie was up 0.05% to C$1.3103 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session was on the lighter side this morning, with key stats limited to China's October service sector PMI number, which has grown in significance as the Chinese government continues to drive the transition away from manufacturing. Out of China , the Caixin services PMI came in at a 13-month low 50.8, coming up well short of a forecasted 52.9 and September's 53.1, adding more concerns over the effects of the ongoing trade war on the Chinese economy and beyond. Across the Pond , economic data due out is limited to the market's preferred ISM non-manufacturing PMI figures for October that will provide some further guidance on the direction of the U.S economy going into the 4 th quarter. | Earlier in the Day: Economic data released through the Asian session was on the lighter side this morning, with key stats limited to China's October service sector PMI number, which has grown in significance as the Chinese government continues to drive the transition away from manufacturing. For the Pound , economic data scheduled for release is limited to October's service sector PMI that will need to impress following a weaker manufacturing PMI released last week, though it's ultimately going to boil down to Brexit chatter through the day. For the Loonie , there are no material stats scheduled for release through the day, leaving the Loonie in the hands of market risk sentiment and the direction in oil prices , which have been on the back foot as the U.S administration rolls out waivers to the latest sanctions on Iran's crude oil. | Earlier in the Day: Economic data released through the Asian session was on the lighter side this morning, with key stats limited to China's October service sector PMI number, which has grown in significance as the Chinese government continues to drive the transition away from manufacturing. The Day Ahead: For the EUR , economic data scheduled for release is limited to unemployment change numbers out of Spain that are unlikely to have a material impact on the EUR, with focus in the early part of the week being on the mid-term elections in the U.S and of greater significance to the EUR, political and economic uncertainty, 3 rd quarter growth having disappointed and with the Italian government looking to thrash it out in Brussels as the economy grounds to a halt. For the Pound , economic data scheduled for release is limited to October's service sector PMI that will need to impress following a weaker manufacturing PMI released last week, though it's ultimately going to boil down to Brexit chatter through the day. | The Japanese Yen moved from ¥113.145 to ¥113.197, against the U.S Dollar, through the early morning and Kuroda speech, before rising to ¥113.13 at the time of writing, a gain of 0.06% for the session. For the Pound , economic data scheduled for release is limited to October's service sector PMI that will need to impress following a weaker manufacturing PMI released last week, though it's ultimately going to boil down to Brexit chatter through the day. While there will be a Dollar response to the numbers, we can expect focus to primarily be on the U.S mid-terms, with focus also likely to be on any updates on trade talks between the U.S and China and sentiment towards the FED's policy decision at the end of the week and outlook on rates for December and the year ahead. | 52097980-3caa-40da-ad2d-061318e69eac |
709350.0 | 2018-11-01 00:00:00 UTC | 7 Crude Oil ETFs to Consider on the Dip | DBO | https://www.nasdaq.com/articles/7-crude-oil-etfs-to-consider-on-the-dip | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
October has not been kind to crude oil and the related ETFs. The United States Oil Fund (NYSEARCA: USO ), widely considered the benchmark crude oil ETF, is lower by more than 9% since October 1.
Even with that decline, oil is one of this year's best-performing commodities. Year-to-date, USO is up more than 17%. USO and other oil ETFs are delivering impressive performances even as U.S. crude production soars to record levels.
"Iranian and Venezuelan oil production levels, along with the pace of U.S. shale growth, will drive oil prices in the medium term," Fitch Ratings says . "Supply constraints at a time of steadily growing demand are leading the Brent price to spike above USD80/bbl."
10 Stocks to Buy in November
Over the near term, buying oil ETFs will likely require patience and forward with crude careening toward its worst monthly performance in over two years. For adventurous investors, here are some oil ETFs to consider right now.
Alerian Energy Infrastructure ETF (ENFR)
Source: Shutterstock
Expense ratio: 0.65% per year, or $65 on a $10,000 investment.
Investors looking for a somewhat conservative, buy-the-dip oil ETF may want to consider the Alerian Energy Infrastructure ETF (NYSEARCA: ENFR ).
ENFR's underlying index, the Alerian Energy Infrastructure Index, features companies from four categories: US energy infrastructure MLPs (25%), US general partners (25%), US energy infrastructure companies (25%), and Canadian energy infrastructure companies (25%), according to ALPS .
While ENFR is not a pure oil ETF, it has tracked oil lower in October, sliding more than 9%. However, the fund offers a decent income proposition with a dividend yield of 2.70% and is in position to rally if oil and natural gas prices do the same.
SPDR S&P Oil & Gas Exploration & Production ETF (XOP)
Source: Shutterstock
Expense ratio: 0.35% per year, or $35 on a $10,000 investment.
Exploration and production stocks are usually sensitive to oil's price action, a scenario that often cuts both ways. When crude prices are rallying, oil ETFs, such as the SPDR S&P Oil & Gas Exploration & Production ETF (NYSEARCA: XOP ), soar. When crude sinks, oil ETFs like XOP often follow suit. That has been the case in October as this oil ETF entered a new bear market by sliding more than 20%.
XOP "seeks to provide exposure the oil and gas exploration and production segment of the S&P TMI, which comprises the following sub-industries: Integrated Oil & Gas, Oil & Gas Exploration & Production, and Oil & Gas Refining & Marketing," according to State Street SPDR .
7 Stocks to Buy While You Hide From the Trade War
XOP's relative strength index (RSI) indicates this oil ETF is oversold, but securities can remain oversold for a while. This oil ETF resides about 12% below its 200-day moving average, so investors considering the fund now may want to hold off until bullish signals emerge.
SPDR S&P Oil & Gas Equipment & Services ETF (XES)
Source: Shutterstock
Expense ratio: 0.35% per year, or $35 on a $10,000 investment.
The SPDR S&P Oil & Gas Equipment & Services ETF (NYSEARCA: XES ) is another example of an oil that is highly sensitive to oil's price gyrations. XES is also another oil ETF that was slammed in October, sliding more than 20% as of Oct. 30. In the near-term, this oil ETF could be boosted or punished by the results of the upcoming midterm elections.
"A Republican sweep would continue to benefit traditional energy producers, with less regulation and additional lands open for leasing, including areas in the outer continental shelf," said State Street Global Advisors (SSgA) in a recent note .
Like XOP, XES is an equal-weight ETF. XES's 41 holdings have a weighted average market value of $5.97 billion, indicating some strength for small- and mid-cap stocks will be required for this oil ETF to rebound from a lousy October.
Invesco DB Oil Fund (DBO)
Source: Shutterstock
Expense ratio: 0.78% per year, or $78 on a $10,000 investment.
The other oil ETFs mentioned to this point are equity-based funds, but the Invesco DB Oil Fund (NYSEARCA: DBO ) is a futures-based strategy.
This oil ETF "is designed for investors who want a cost-effective and convenient way to invest in commodity futures. The Index is a rules-based index composed of futures contracts on light sweet crude oil (WTI). You cannot invest directly in the Index," according to Invesco .
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As a futures-based oil ETF, DBO's price action is often driven by supply and demand data. Professional traders have recently been paring bullish bets on oil due in large part to murky demand outlook , but that could change if the U.S. and China resolve their trade spat, setting the stage for more oil exports to China.
VanEck Vectors Oil Refiners ETF (CRAK)
Source: Shutterstock
Expense ratio: 0.59% per year, or $59 on a $10,000 investment.
Prior to the start of October, the VanEck Vectors Oil Refiners ETF (NYSEARCA: CRAK ) was one of this year's best-performing oil ETFs. A 14% October decline erased CRAK's year-to-date gains.
This oil ETF tracks the MVIS Global Oil Refiners Index, "which is a rules-based, modified capitalization weighted index intended to give investors a means of tracking the overall performance of companies involved in crude oil refining which may include: gasoline, diesel, jet fuel, fuel oil, naphtha, and other petrochemicals," according to VanEck .
There are some fundamental factors supportive of a potential rebound for CRAK.
"Thanks to strength in distillate margins and wide crude spreads, refiners' total margin has remained attractive, encouraging high utilization rates; combined with capacity increases, this has resulted in record levels of production," according to Morningstar .
iShares MSCI Global Energy Producers ETF (FILL)
Source: Shutterstock
Expense ratio: 0.39% per year, or $39 on a $10,000 investment.
Often overlooked among oil ETFs, the iShares MSCI Global Energy Producers ETF (NYSEARCA: FILL ) has been surprisingly steady this year, losing less than 2%. This oil ETF, which is more than six years old, holds over 200 stocks and targets the MSCI ACWI Select Energy Producers Investable Market Index.
FILL features exposure to over a dozen countries, but U.S. energy producers dominate this oil ETF at nearly 47% of the fund's weight. Dow components Exxon Mobil Corp. (NYSE: XOM ) and Chevron Corp. (NYSE: CVX ) combine for 22.60% of FILL's roster.
3 Beaten-Down Crude Oil Stocks to Buy
This oil ETF's three-year standard deviation of 16.38% compares well with the category average as does its trailing 12-month dividend yield of 2.69%.
Invesco S&P SmallCap Energy ETF (PSCE)
Source: Shutterstock
Expense ratio: 0.29% per year, or $29 on a $10,000 investment.
The Invesco S&P SmallCap Energy ETF (NASDAQ: PSCE ) is a prime example of an oil ETF that has been drubbed on multiple fronts. Retrenchment in small-cap stocks coupled with declining oil prices sent PSCE lower by more than 21% in October, putting this oil ETF in the precarious position of taking out its 52-week low.
For this oil ETF to rebound in earnest, a confluence of factors need to be met. Those include the obvious rebound in oil prices, investors revisiting small caps and some strength in value stocks because over three-quarters of PSCE's 35 holdings are considered value names.
Over the past 90 days, investors have pulled $12 million from PSCE, indicating this oil ETF is positioned as a near-term contrarian play.
Todd Shriber does not own any of the aforementioned securities.
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The post 7 Crude Oil ETFs to Consider on the Dip appeared first on InvestorPlace .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Invesco DB Oil Fund (DBO) Source: Shutterstock Expense ratio: 0.78% per year, or $78 on a $10,000 investment. The other oil ETFs mentioned to this point are equity-based funds, but the Invesco DB Oil Fund (NYSEARCA: DBO ) is a futures-based strategy. 3 Big Tech Stocks to Short As a futures-based oil ETF, DBO's price action is often driven by supply and demand data. | Invesco DB Oil Fund (DBO) Source: Shutterstock Expense ratio: 0.78% per year, or $78 on a $10,000 investment. The other oil ETFs mentioned to this point are equity-based funds, but the Invesco DB Oil Fund (NYSEARCA: DBO ) is a futures-based strategy. 3 Big Tech Stocks to Short As a futures-based oil ETF, DBO's price action is often driven by supply and demand data. | Invesco DB Oil Fund (DBO) Source: Shutterstock Expense ratio: 0.78% per year, or $78 on a $10,000 investment. The other oil ETFs mentioned to this point are equity-based funds, but the Invesco DB Oil Fund (NYSEARCA: DBO ) is a futures-based strategy. 3 Big Tech Stocks to Short As a futures-based oil ETF, DBO's price action is often driven by supply and demand data. | Invesco DB Oil Fund (DBO) Source: Shutterstock Expense ratio: 0.78% per year, or $78 on a $10,000 investment. The other oil ETFs mentioned to this point are equity-based funds, but the Invesco DB Oil Fund (NYSEARCA: DBO ) is a futures-based strategy. 3 Big Tech Stocks to Short As a futures-based oil ETF, DBO's price action is often driven by supply and demand data. | 0902cb91-4938-4fa6-9478-ca1abeb44eb8 |
709351.0 | 2018-10-25 00:00:00 UTC | U.S 3rd Quarter GDP Numbers and the USD in the Spotlight | DBO | https://www.nasdaq.com/articles/us-3rd-quarter-gdp-numbers-and-usd-spotlight-2018-10-25 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was on the lighter side, with stats limited to October inflation numbers out of Japan.
For the Japanese Yen, the annual rate of core inflation for Tokyo held steady at 1%, which was in line with forecasts, with headline inflation picking up from September's 1.3% to 1.5% in October, which was also in line with forecasts.
Looking at the numbers:
A 4.4% rise in prices for fuel, light and water, a 1.8% rise in prices for culture and recreation and a 1.3% rise in prices for medical care provided support to the annual rate of core inflation, while prices furniture and household utensils fell by 1%, the only drag in October.
For headline inflation a 3% rise in food prices also contributed.
Month on month, consumer prices rose by 0.1%, with core inflation also sitting at 0.1%.
The Japanese Yen moved from ¥112.385 to ¥112.391 against the U.S Dollar, upon release of the figures, before rising to ¥112.24 at the time of writing, up 0.16% for the session.
Elsewhere, the Aussie Dollar saw a reversal of Thursday's gains with interest in the early part of the day, down 0.58% to $0.7039, with the Kiwi Dollar also struggling, the Kiwi Down 0.44% to $0.6495, risk aversion hitting the Asian markets in the early part of the day.
In the equity markets, the Asian markets failed to follow the U.S into positive territory this morning, with the majors in the red at the time of writing, led by the Hang Seng, down 0.87%, while the ASX200 and Nikkei were down 0.42% and by 0.22% respectively. For the CSI300, a 0.60% fall came from a choppy start to the session that saw all the majors in positive territory before hitting reverse, a slide in the U.S futures weighing on sentiment.
The Day Ahead:
For the EUR , there are no material stats scheduled for release through the day, leaving the markets to consider Thursday's ECB press conference and what lies ahead for the Eurozone, weaker economic indicators of particular concern as the U.S - China trade war rages on.
While there are no stats to consider, ECB President Draghi is scheduled to speak later in the day, with any more dovish chatter supporting a gradual pullback to $1.12 levels, FED monetary policy and the U.S economy supporting a Dollar bias.
At the time of writing, the EUR was down 0.04% to $1.1371, with Draghi and geo-political risk the key drivers through the day.
For the Pound , it's also a quiet day on theeconomic calendar leaving the Pound in the hands of the UK government and Brexit chatter through the day.
The Pound found some early support this morning, following the week's reversal, supported by Theresa May's continuing survival at the helm, though concerns over a no-deal scenario will remain the Pound's nemesis near-term, as negotiations look set to drag into November and possibly beyond.
At the time of writing, the Pound was up 0.03% to $1.2821, with Brexit the key driver.
Across the Pond , it's a big day for the Dollar and U.S President Trump's Tweeter account, with 1 st estimate GDP numbers for the 3 rd quarter scheduled for release, alongside the GDP price index numbers, with finalized October consumer sentiment figures due out shortly after likely to be ignored by the markets.
With the U.S economy forecasted to grow by 3.3% in the 3 rd quarter, down from a 2 nd quarter 4.2%, the U.S economy continues to outpace its peers, China excluded, supporting the continued divergence in monetary policy.
Trump will likely take credit and attribute the momentum in the U.S economy to foreign policy, trade terms in particular and the actions of the U.S administration since taking office, a swipe at the FED's current policy goal also on the cards, which is unlikely to pin back the Dollar should the numbers impress.
At the time of writing, the Dollar Spot Index was down 0.06% to 96.617.
For the Loonie , a quiet day on the data front leaves the Loonie in the hands of market risk sentiment through the day and direction in crude oil prices .
The Loonie was down 0.26% to C$1.3108 against the U.S Dollar at the time of writing, risk off sentiment weighing in the early part of the day.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning was on the lighter side, with stats limited to October inflation numbers out of Japan. For the CSI300, a 0.60% fall came from a choppy start to the session that saw all the majors in positive territory before hitting reverse, a slide in the U.S futures weighing on sentiment. This article was originally posted on FX Empire More From FXEMPIRE: Oil Price Fundamental Daily Forecast - New Concerns About Oversupply Have Been Raised DAX Index Daily Price Forecast - DAX Likely To Erase Previous Session's Gains Owing to Bearish Cues from International Market Natural Gas Price Fundamental Daily Forecast - EIA Report Bearish, Focus Shifts Back to Weather The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Across the Pond , it's a big day for the Dollar and U.S President Trump's Tweeter account, with 1 st estimate GDP numbers for the 3 rd quarter scheduled for release, alongside the GDP price index numbers, with finalized October consumer sentiment figures due out shortly after likely to be ignored by the markets. For the Loonie , a quiet day on the data front leaves the Loonie in the hands of market risk sentiment through the day and direction in crude oil prices . This article was originally posted on FX Empire More From FXEMPIRE: Oil Price Fundamental Daily Forecast - New Concerns About Oversupply Have Been Raised DAX Index Daily Price Forecast - DAX Likely To Erase Previous Session's Gains Owing to Bearish Cues from International Market Natural Gas Price Fundamental Daily Forecast - EIA Report Bearish, Focus Shifts Back to Weather The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking at the numbers: A 4.4% rise in prices for fuel, light and water, a 1.8% rise in prices for culture and recreation and a 1.3% rise in prices for medical care provided support to the annual rate of core inflation, while prices furniture and household utensils fell by 1%, the only drag in October. Elsewhere, the Aussie Dollar saw a reversal of Thursday's gains with interest in the early part of the day, down 0.58% to $0.7039, with the Kiwi Dollar also struggling, the Kiwi Down 0.44% to $0.6495, risk aversion hitting the Asian markets in the early part of the day. This article was originally posted on FX Empire More From FXEMPIRE: Oil Price Fundamental Daily Forecast - New Concerns About Oversupply Have Been Raised DAX Index Daily Price Forecast - DAX Likely To Erase Previous Session's Gains Owing to Bearish Cues from International Market Natural Gas Price Fundamental Daily Forecast - EIA Report Bearish, Focus Shifts Back to Weather The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Japanese Yen moved from ¥112.385 to ¥112.391 against the U.S Dollar, upon release of the figures, before rising to ¥112.24 at the time of writing, up 0.16% for the session. At the time of writing, the Pound was up 0.03% to $1.2821, with Brexit the key driver. The Loonie was down 0.26% to C$1.3108 against the U.S Dollar at the time of writing, risk off sentiment weighing in the early part of the day. | 1fb406ac-cd0d-448b-b99e-2d792cf4844f |
709352.0 | 2018-10-24 00:00:00 UTC | NZ Trade Deficit Another Record, with Focus Shifting to Draghi and the EUR | DBO | https://www.nasdaq.com/articles/nz-trade-deficit-another-record-focus-shifting-draghi-and-eur-2018-10-24 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was limited to September trade data out of New Zealand, leaving the markets to pick up the pieces from the sell-off in the U.S equity markets, as risk sentiment shifted once more over concerns of an economic slowdown, with the Eurozone's private sector prelim October PMI numbers having provided some troubling numbers on Wednesday.
For the Kiwi Dollar , the September trade deficit hit a new monthly trade deficit record, with the monthly deficit widening from a revised NZ$1,470m to NZ$1,560m, according to NZ Stats.
Record imports led to the largest ever goods trade deficit, with September's record the 2 nd in a row, following August's widening.
Imports rose by 19% (NZ$930m) compared with the same month last year, to hit NZ$5.9bn, the highest value for total imports on record.
The jump in imports was attributed to a rise in petroleum and products imports, which rose by 87% (NZ$366m) from September last year, with crude oil leading the way, up NZ$278m followed by fuels, which increased by NZ$86m.
Imports of aircraft also contributed, rising by NZ$266m.
Exports rose by 14% (NZ$536m) to reach $4.3bn, a 118% (NZ$188m) increase in the export of Kiwi fruits the key contributor, with both higher volumes and prices driving the increase.
Year-on-year, the trade deficit widened from a revised NZ$4,790m to NZ$5,190m.
The Kiwi Dollar moved from $0.65242 to $0.65236 upon release of the figures, before easing to $0.6523 at the time of writing, down 0.09% for the session.
Elsewhere, the Aussie Dollar was on a tear, up 0.2% to $0.7074, while the Japanese Yen stood at ¥111.96 against the U.S Dollar at the time of writing, a gain of 0.27% for the session.
In the equity markets, there were no surprises early on, the Nikkei tumbling by 3.33% at the time of writing, with the ASX200 and Hang Seng not far behind, down by 2.25% and by 1.91% respectively, the late sell-off in the U.S spilling over to the Asian session, with mining stocks amongst the biggest losers on the ASX200 early on, while oil and tech stocks were amongst the biggest sliders on the Hang Seng.
The Day Ahead:
For the EUR , following some quite dire prelim PMI numbers out of the Eurozone on Wednesday, economic data scheduled for release this morning includes consumer and business confidence numbers out of Germany and jobseeker figures out of France.
While we will expect both the consumer and business confidence numbers out of Germany to provide some direction for the EUR, focus will be on today's ECB monetary policy decision and the all-important Draghi press conference, where the EUR is likely to find plenty of price action.
With economic indicators suggesting dark clouds overhead and the Italian Coalition government clashing with Brussels, following the EU Commission's rejection of the coalition government's budget plans, there will be plenty of uncertainty ahead of the press conference. Will the ECB stand by its plan to bring to an end the asset purchasing program by the end of the year, when considering recent economic indicators and will Draghi be willing to stand out and state that the ECB would purchase Italian government bonds, in spite of the coalition government's flouting of EU laws?
Dovish with no details seems to be the most plausible outcome, all things considered, but it wouldn't be the first time that Draghi blind sides the markets.
At the time of writing, the EUR was up 0.0.16% to $1.1410, today's stats, the ECB and geo-political risk the key drivers.
For the Pound , there are no material stats scheduled for release through the day, leaving focus on Brexit and news from British PM Theresa May's session with the 1922 Committee on Brexit, with fears of a possible vote of no confidence contributing to the Pound's demise on Wednesday.
Early reports of a united front will provide some support for the Pound and, while it may not be as united as some suggest, few are envious of May's position at the helm that should ease the fear. Brexit chatter is also expected to influence through the day should there be any progress, or lack of, on the Irish border.
At the time of writing, the Pound was up 0.10% to $1.2894, with Brexit the key driver.
Across the Pond , economic data scheduled for release includes the weekly jobless claims figures, September's trade and pending home sales figures and, of greater significance, durable goods orders.
The latest manufacturing PMI numbers out of the U.S suggest that the sector is holding up well in spite of the ongoing trade war with China and some weakening in economic activity in the Eurozone, with new order growth driving the headline PMI number, stemming from domestic demand as new orders from abroad remained close to stagnation. The key number will be the core durable goods orders, which is forecasted to be Dollar positive.
Outside the stats, FOMC member chatter will unlikely have too much influence, with FOMC member Clarida speaking, while any chatter from the Oval Office and Rome will need to be considered through the day.
At the time of writing, the Dollar Spot Index was down 0.17% to 96.269.
For the Loonie , there are no material stats scheduled for release through the day, leaving the markets to consider Thursday's press conference which was on the more hawkish side, with policy makers making it clear that rates must continue to rise to neutral to support the Bank's object on inflation, though much will depend upon the economic indicators in the months ahead on how quickly the Bank moves forward on rates.
The Loonie up 0.23% to C$1.3027 against the U.S Dollar at the time of writing, the Asian markets responding to the overnight rate hike and hawkish BoC press conference.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning was limited to September trade data out of New Zealand, leaving the markets to pick up the pieces from the sell-off in the U.S equity markets, as risk sentiment shifted once more over concerns of an economic slowdown, with the Eurozone's private sector prelim October PMI numbers having provided some troubling numbers on Wednesday. For the Loonie , there are no material stats scheduled for release through the day, leaving the markets to consider Thursday's press conference which was on the more hawkish side, with policy makers making it clear that rates must continue to rise to neutral to support the Bank's object on inflation, though much will depend upon the economic indicators in the months ahead on how quickly the Bank moves forward on rates. The Loonie up 0.23% to C$1.3027 against the U.S Dollar at the time of writing, the Asian markets responding to the overnight rate hike and hawkish BoC press conference. | For the Kiwi Dollar , the September trade deficit hit a new monthly trade deficit record, with the monthly deficit widening from a revised NZ$1,470m to NZ$1,560m, according to NZ Stats. The Day Ahead: For the EUR , following some quite dire prelim PMI numbers out of the Eurozone on Wednesday, economic data scheduled for release this morning includes consumer and business confidence numbers out of Germany and jobseeker figures out of France. This article was originally posted on FX Empire More From FXEMPIRE: GBP/JPY Price Forecast - British pound falls again on Wednesday EUR/USD Price Forecast - Euro continues to selloff EUR/USD Price Forecast - EUR/USD Remains on Defensive Ahead of ECB Update The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning was limited to September trade data out of New Zealand, leaving the markets to pick up the pieces from the sell-off in the U.S equity markets, as risk sentiment shifted once more over concerns of an economic slowdown, with the Eurozone's private sector prelim October PMI numbers having provided some troubling numbers on Wednesday. For the Kiwi Dollar , the September trade deficit hit a new monthly trade deficit record, with the monthly deficit widening from a revised NZ$1,470m to NZ$1,560m, according to NZ Stats. For the Loonie , there are no material stats scheduled for release through the day, leaving the markets to consider Thursday's press conference which was on the more hawkish side, with policy makers making it clear that rates must continue to rise to neutral to support the Bank's object on inflation, though much will depend upon the economic indicators in the months ahead on how quickly the Bank moves forward on rates. | The Kiwi Dollar moved from $0.65242 to $0.65236 upon release of the figures, before easing to $0.6523 at the time of writing, down 0.09% for the session. The Day Ahead: For the EUR , following some quite dire prelim PMI numbers out of the Eurozone on Wednesday, economic data scheduled for release this morning includes consumer and business confidence numbers out of Germany and jobseeker figures out of France. For the Pound , there are no material stats scheduled for release through the day, leaving focus on Brexit and news from British PM Theresa May's session with the 1922 Committee on Brexit, with fears of a possible vote of no confidence contributing to the Pound's demise on Wednesday. | f8daebdc-6eef-49b5-a2d2-ffc4dc9721be |
709353.0 | 2018-10-23 00:00:00 UTC | How Hawkish Will the BoC be if it Hikes Rates Amidst the Turmoil? | DBO | https://www.nasdaq.com/articles/how-hawkish-will-boc-be-if-it-hikes-rates-amidst-turmoil-2018-10-23 | nan | nan | Earlier in the Day:
It was another quiet session on the data front, with no material stats released through the Asian session to provide some respite from the slide in market risk appetite across the global financial markets and it's not going to get much better on the data front for the rest of the week, with stats limited to September trade figures out of New Zealand on Thursday and inflation numbers out of Japan on Friday.
The overnight sell-off in the U.S equity markets and the EU Commission's rejection of the Italian budget that comes at a time when the U.S President is being forced to rethink Middle East policy following the Kashoggi murder, which has certainly made things interesting with some time left before the mid-term election chatter begins to build.
In the currency markets, the Aussie Dollar was clinging on to $0.70 levels, up 0.10% to $0.7093 at the time of writing, while the Kiwi Dollar was up just 0.06% to $0.6555. For the Japanese Yen, it's a slow start to the day, with the Yen down 0.07% to ¥112.52 against the U.S Dollar, with some upside to be expected through the day should sentiment fail to shift, the market bears still out in force in spite of a mixed bag in the equity markets this morning.
In the equity markets, in was a mixed start to the day, with the Hang Seng and CSI300 finding support early on, the pair up 0.07% and by 0.46% respectively at the time of writing, whilst the sell-off continued elsewhere, the Nikkei and ASX200 both down by 0.15%.
The Day Ahead:
For the EUR , there's finally some data for the markets to dig into, with October's prelim private sector PMI numbers scheduled for release ahead of the ECB's monetary policy decision and press conference tomorrow. We can expect some EUR sensitivity to the numbers, particularly if inflationary pressures remain subdued and new orders weaken.
Outside of the numbers, there's the Italian coalition government's rejected budget to consider, with Populist Party chatter likely to influence through the day, while market risk sentiment and noise from the Oval Office will also need to be considered as the U.S looks to handle Kashoggi's murder on the world stage.
At the time of writing, the EUR was down 0.03% to $1.1467, today's stats and geo-political risk the key drivers.
For the Pound , economic data is limited to gross mortgage approvals that will likely be brushed aside by the markets, with Brexit taking centre stage, though things are far from settled on Ireland and negotiations are likely to extend through next month. Talks of a possible leadership challenge at the backbenchers 1922 Committee meeting later today have faced some resistance that should ease the PM's pain as she faces off with critics, with few likely to be willing to step forward to take on the task of wrapping up a Brexit deal with the EU, which should provide some support for the Pound.
At the time of writing, the Pound was down 0.02% to $1.2980, with Brexit the key driver.
Across the Pond , economic data scheduled for release through the day includes October's prelim private sector PMI numbers and September new home sales figures.
While a forecasted uptick in service sector activity and steady activity in the manufacturing sector will be considered positives for the Dollar, another set of housing sector weak numbers could weigh, following last week's disappointing numbers, though geo-political risk factors may well overshadow the stats, particularly if there's a decision on how to proceed with the Saudis, who just delivered Trump with a timely statement on oil production that contributed to the slide in crude oil prices on Tuesday.
FOMC members Bullard, Mester and Bostic are scheduled to speak, which could provide some Dollar weakness should Bostic's call for a hold on policy normalization be echoed by his peers.
At the time of writing, the Dollar Spot Index was up 0.02% to 95.978.
For the Loonie , its all eyes on the Bank of Canada, which is widely expected to hike rates later today. With a rate hike baked into the Loonie, the BoC's forward guidance will be key and, when considering the ongoing trade war between the U.S and China and downward revisions to global growth forecasts, pointing to further rate hikes at the start of next year may be a little too hawkish. Throw in the slide in oil prices and there may not be too much upside later today.
The Loonie up 0.02% to C$1.3083 against the U.S Dollar at the time of writing, the BoC the key driver through the day.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In the equity markets, in was a mixed start to the day, with the Hang Seng and CSI300 finding support early on, the pair up 0.07% and by 0.46% respectively at the time of writing, whilst the sell-off continued elsewhere, the Nikkei and ASX200 both down by 0.15%. For the Pound , economic data is limited to gross mortgage approvals that will likely be brushed aside by the markets, with Brexit taking centre stage, though things are far from settled on Ireland and negotiations are likely to extend through next month. Across the Pond , economic data scheduled for release through the day includes October's prelim private sector PMI numbers and September new home sales figures. | The Day Ahead: For the EUR , there's finally some data for the markets to dig into, with October's prelim private sector PMI numbers scheduled for release ahead of the ECB's monetary policy decision and press conference tomorrow. Across the Pond , economic data scheduled for release through the day includes October's prelim private sector PMI numbers and September new home sales figures. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Price Forecast - Euro tests support yet again NEO Technical Analysis - Eyeing Resistance Levels - 24/10/18 AUD/USD Price Forecast - Australian dollar slumps on Tuesday The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: It was another quiet session on the data front, with no material stats released through the Asian session to provide some respite from the slide in market risk appetite across the global financial markets and it's not going to get much better on the data front for the rest of the week, with stats limited to September trade figures out of New Zealand on Thursday and inflation numbers out of Japan on Friday. While a forecasted uptick in service sector activity and steady activity in the manufacturing sector will be considered positives for the Dollar, another set of housing sector weak numbers could weigh, following last week's disappointing numbers, though geo-political risk factors may well overshadow the stats, particularly if there's a decision on how to proceed with the Saudis, who just delivered Trump with a timely statement on oil production that contributed to the slide in crude oil prices on Tuesday. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Price Forecast - Euro tests support yet again NEO Technical Analysis - Eyeing Resistance Levels - 24/10/18 AUD/USD Price Forecast - Australian dollar slumps on Tuesday The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | At the time of writing, the EUR was down 0.03% to $1.1467, today's stats and geo-political risk the key drivers. At the time of writing, the Pound was down 0.02% to $1.2980, with Brexit the key driver. The Loonie up 0.02% to C$1.3083 against the U.S Dollar at the time of writing, the BoC the key driver through the day. | 48e43109-499e-4b75-b8b3-be1de4d35b1d |
709354.0 | 2018-10-17 00:00:00 UTC | UK Retail Sales and Brexit News Leaves Focus on the Pound | DBO | https://www.nasdaq.com/articles/uk-retail-sales-and-brexit-news-leaves-focus-pound-2018-10-17 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning included September trade figures out of Japan and September employment and quarterly business confidence numbers out of Australia.
For the Japanese Yen , the August's ¥438bn deficit rebounded to a ¥140bn surplus, which was better than a forecasted narrowing to a ¥50bn deficit.
Exports fell by 1.9%, year-on-year, following August's 6.6% rise, which was worse than a forecasted 1.9% rise, the decline attributed to natural disasters that included a Typhoon and an earthquake.
Imports rose by 7%, coming up short of a forecasted 13.7% rise and August 15.3% increase, rising fuel prices continuing to drive imports.
The adjusted trade deficit widened from ¥19tn to ¥24tn, which was better than a forecasted widening to a ¥34tn deficit.
The numbers may have provided little guidance on where Japan's trade fuelled economy is heading, with an earthquake and a typhoon likely to have impacted exports, but concerns will linger over the effects of the ongoing trade war between the U.S and China and slower growth in the Chinese economy. Exports to China fell by 1.7%, by 4.1% to the EU and down by just 0.2% to the U.S, suggesting weaker demand may have contributed to the China and EU numbers.
The Japanese Yen moved from ¥112.643 to ¥112.602 against the Dollar upon release of the figures, before rising to ¥112.54 against the Dollar at the time of writing, up 0.10% for the session.
For the Aussie Dollar , the NAB Business Confidence Index fell from 7 to 3, while of greater significance were the September employment numbers:
According to the ABS, the unemployment rate from 5.3% to 5.0% in September, which was better than a forecasted hold, with full employment rising by 20.3K, following August's upwardly revised 35.2K increase. Employment however increased by just 5.6K, falling short of a forecasted 15.2K increase, following an upwardly revised 44K increase in August.
While full-time employment was on the rise, part-time employment fell by 14.7K.
Contributing to the fall in the unemployment rate was a 0.2 percentage point fall in the participation rate 65.4%.
The Aussie Dollar moved from $0.71153 to $0.71241 upon release of the figures, before easing to $0.7117 at the time of writing, up 0.11% for the session, the Aussie Dollar finding some respite following Wednesday's reversal.
Elsewhere, the Kiwi Dollar was down 0.18% to $0.6538 at the time of writing, a hawkish set of FOMC meeting minutes weighing in the early part of the day.
The Day Ahead:
For the EUR , there are no material stats scheduled for release through the day, leaving the markets to consider some disappointing economic numbers out of the region of late and the slide in imports from Japan, which could be further evidence that the economy has peaked, though October numbers will be need to confirm this.
On the political front, more noise over the Italian Coalition government's budget suggests that the European Commission is likely to reject the budget plan and, while this is a negative for the EUR, of greater significance will be the coalition government's response.
At the time of writing, the EUR was down 0.04% to $1.1496, geo-political risk the key driver.
For the Pound , it's another big day on the data front, with UK retail sales figures scheduled for release early in European session, retail sales forecasted to fall in September to weigh on the Pound, which remains under pressure following the softer inflation figures released on Wednesday.
Outside the numbers, Brexit news will be a factor to consider as the UK government looks for alternatives to address the ongoing disagreements over Northern Ireland.
At the time of writing, the Pound was down 0.14% to $1.3096.
Across the Pond , economic data scheduled for release includes Philly FED manufacturing numbers for October, together with the weekly jobless claims figures. Focus will be on the manufacturing numbers that will need to hold relatively steady to avoid a Dollar sell-off, the markets sensitive to any signs of a slowdown in the U.S economy as the trade war with China sees no end in sight.
Outside of the stats, FOMC members Bullard and Quarles are scheduled to speak through the day, though following Wednesday's release of the FOMC minutes, there's unlikely to be a material influence on the Dollar.
At the time of writing, the Dollar Spot Index was up 0.09% to 95.661.
For the Loonie , it's another quiet day on the data front, leaving the Loonie in the hands of market risk sentiment and direction of crude oil prices , which contributed to the Loonie's latest reversal, as crude oil prices took a tumble overnight.
The Loonie down 0.15% to C$1.3039 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Across the Pond , economic data scheduled for release includes Philly FED manufacturing numbers for October, together with the weekly jobless claims figures. Focus will be on the manufacturing numbers that will need to hold relatively steady to avoid a Dollar sell-off, the markets sensitive to any signs of a slowdown in the U.S economy as the trade war with China sees no end in sight. This article was originally posted on FX Empire More From FXEMPIRE: Silver Price Forecast - Silver markets quiet for Wednesday Fed Minutes: Gradual Rate Hikes is Still Best Policy Stocks Plunge on IBM Earnings Miss, Bearish Housing Data; Crude Drops on Bearish EIA Report The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning included September trade figures out of Japan and September employment and quarterly business confidence numbers out of Australia. For the Pound , it's another big day on the data front, with UK retail sales figures scheduled for release early in European session, retail sales forecasted to fall in September to weigh on the Pound, which remains under pressure following the softer inflation figures released on Wednesday. This article was originally posted on FX Empire More From FXEMPIRE: Silver Price Forecast - Silver markets quiet for Wednesday Fed Minutes: Gradual Rate Hikes is Still Best Policy Stocks Plunge on IBM Earnings Miss, Bearish Housing Data; Crude Drops on Bearish EIA Report The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Aussie Dollar , the NAB Business Confidence Index fell from 7 to 3, while of greater significance were the September employment numbers: According to the ABS, the unemployment rate from 5.3% to 5.0% in September, which was better than a forecasted hold, with full employment rising by 20.3K, following August's upwardly revised 35.2K increase. For the Pound , it's another big day on the data front, with UK retail sales figures scheduled for release early in European session, retail sales forecasted to fall in September to weigh on the Pound, which remains under pressure following the softer inflation figures released on Wednesday. This article was originally posted on FX Empire More From FXEMPIRE: Silver Price Forecast - Silver markets quiet for Wednesday Fed Minutes: Gradual Rate Hikes is Still Best Policy Stocks Plunge on IBM Earnings Miss, Bearish Housing Data; Crude Drops on Bearish EIA Report The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Japanese Yen moved from ¥112.643 to ¥112.602 against the Dollar upon release of the figures, before rising to ¥112.54 against the Dollar at the time of writing, up 0.10% for the session. For the Aussie Dollar , the NAB Business Confidence Index fell from 7 to 3, while of greater significance were the September employment numbers: According to the ABS, the unemployment rate from 5.3% to 5.0% in September, which was better than a forecasted hold, with full employment rising by 20.3K, following August's upwardly revised 35.2K increase. The Loonie down 0.15% to C$1.3039 against the U.S Dollar at the time of writing. | 610acf67-765c-47f7-babc-7c113cc240cf |
709355.0 | 2018-10-16 00:00:00 UTC | UK Inflation and Brexit Talk Put the GBP in Focus, with One Eye on the EUR | DBO | https://www.nasdaq.com/articles/uk-inflation-and-brexit-talk-put-gbp-focus-one-eye-eur-2018-10-16 | nan | nan | Earlier in the Day:
There were no material stats released through the Asian session this morning to provide direction for the majors, leaving market risk sentiment and geo-political risk to influence in the early part of the day.
For the Kiwi Dollar, the better than expected 3 rd quarter inflation figures from Tuesday and improved risk appetite in the early part of the day provided support, the Kiwi Dollar up another 0.23% off the back of a 1.03% gain, Monday through to Tuesday's close. It remains to be seen whether the inflation figures are enough for the RBNZ to shift on policy when considering the widening of the trade deficit in August and continued decline in business confidence, particularly with the ongoing U.S - China trade war ongoing and concerns rising over the global economic outlook.
At the time of writing, the Kiwi Dollar was up 0.17% to $0.6585.
For the Aussie Dollar , the shift in risk sentiment was of less influence in the earlier part of the day, the RBA meeting minutes released on Tuesday pinning the Aussie Dollar back, with China's GDP numbers due out on Friday expected to be of material influence.
At the time of writing, the Aussie Dollar down 0.10% to $0.7134.
For the Japanese Yen, the pickup in market risk appetite was telling through the early part of the day, with the Yen down 0.13% to ¥112.40 at the time of writing, with Tuesday's stats out of the U.S also influencing early on, a jump in the JOLTs job openings and better than expected industrial production figures easing concerns of a near-term slowdown in the U.S economy.
In the equity markets, it was a positive start to the day, with the Nikkei and ASX200 surging by 1.75% and by 1.09%, supported by positive earnings results from Corporate America that managed to prise focus away from the ongoing trade war between the U.S and China and the IMF's downgrade to global growth forecasts for this year and next.
With the HK markets closed for Chung Yeung Day, it was down to the Chinese markets to respond to the overnight rally in the U.S, the CSI300 up 1.28% at the time of writing.
The Day Ahead:
For the EUR , economic data scheduled for release through the European session is limited to finalized September inflation figures for the Euro bloc. While we can expect some support from the EUR should headline inflation rise in line with forecasts month-on-month, the key figure remains the core annual rate of inflation that continues to sit well below the ECB's target.
While the stats may provide some support, it will be all eyes on Brussels, with some murmurs from the European Commission suggesting that the Italian budget is on its way to rejection, which would weigh on the EUR and the European equity markets should the chatter build through the day.
At the time of writing, the EUR down 0.02% to $1.1573.
For the Pound , economic data scheduled for release through the day includes September inflation figures and the BoE's FCB minutes. Focus will be on the inflation numbers, which are forecasted to be negative for the Pound, while the BoE's FCP minutes could put Brexit front and centre, as the British Prime Minister heads to the EU Summit in Brussels, with today considered to be one of May's last opportunities to salvage a deal. The stats may have eased the pain for the Pound on Tuesday, but it could be a very different story today should there be no good news from Brussels.
At the time of writing, the Pound was up 0.02% to $1.3184.
Across the Pond , economic data scheduled for release is includes September building permit and housing start figures that will have some influence on the Dollar, with some concerns over the housing sector building in recent months. It may ultimately boil down to the FOMC meeting minutes due out later in the day however, though whether there are any surprises remains to be seen, the economic projections and recent comments from Powell suggesting it's all systems go on the rate hike front. The minutes will be a reminder nonetheless of what's to come.
At the time of writing, the Dollar Spot Index was up 0.03% to 95.078.
For the Loonie , there are no material stats scheduled for release, leaving the Loonie in the hands of market risk sentiment and the direction of crude oil prices through the day, the markets yet to have any meaty economic numbers to influence sentiment towards BoC monetary policy.
The Loonie was down 0.10% at C$1.2947 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR , economic data scheduled for release through the European session is limited to finalized September inflation figures for the Euro bloc. Focus will be on the inflation numbers, which are forecasted to be negative for the Pound, while the BoE's FCP minutes could put Brexit front and centre, as the British Prime Minister heads to the EU Summit in Brussels, with today considered to be one of May's last opportunities to salvage a deal. It may ultimately boil down to the FOMC meeting minutes due out later in the day however, though whether there are any surprises remains to be seen, the economic projections and recent comments from Powell suggesting it's all systems go on the rate hike front. | For the Kiwi Dollar, the better than expected 3 rd quarter inflation figures from Tuesday and improved risk appetite in the early part of the day provided support, the Kiwi Dollar up another 0.23% off the back of a 1.03% gain, Monday through to Tuesday's close. For the Aussie Dollar , the shift in risk sentiment was of less influence in the earlier part of the day, the RBA meeting minutes released on Tuesday pinning the Aussie Dollar back, with China's GDP numbers due out on Friday expected to be of material influence. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Forex Technical Analysis - October 17, 2018 Forecast Trading plan for October 17 September Inflation Numbers Hit the Pound The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Kiwi Dollar, the better than expected 3 rd quarter inflation figures from Tuesday and improved risk appetite in the early part of the day provided support, the Kiwi Dollar up another 0.23% off the back of a 1.03% gain, Monday through to Tuesday's close. For the Aussie Dollar , the shift in risk sentiment was of less influence in the earlier part of the day, the RBA meeting minutes released on Tuesday pinning the Aussie Dollar back, with China's GDP numbers due out on Friday expected to be of material influence. For the Japanese Yen, the pickup in market risk appetite was telling through the early part of the day, with the Yen down 0.13% to ¥112.40 at the time of writing, with Tuesday's stats out of the U.S also influencing early on, a jump in the JOLTs job openings and better than expected industrial production figures easing concerns of a near-term slowdown in the U.S economy. | For the Aussie Dollar , the shift in risk sentiment was of less influence in the earlier part of the day, the RBA meeting minutes released on Tuesday pinning the Aussie Dollar back, with China's GDP numbers due out on Friday expected to be of material influence. At the time of writing, the EUR down 0.02% to $1.1573. At the time of writing, the Pound was up 0.02% to $1.3184. | 621603d6-17d9-4bd3-abf7-2a30d1966f0f |
709356.0 | 2018-10-15 00:00:00 UTC | The Kiwi Dollar Spikes on Inflation, as Risk Appetite Trickles Back Early On | DBO | https://www.nasdaq.com/articles/kiwi-dollar-spikes-inflation-risk-appetite-trickles-back-early-2018-10-15 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning included 3 rd quarter inflation figures out of New Zealand and September inflation numbers out of China, with the RBA releasing its monetary policy meeting minutes from the 2 nd October meeting.
For the Kiwi Dollar , 3 rd quarter inflation came in better than expected, with the annual rate of inflation hitting 1.9%, up from a 2 nd quarter 1.5% and ahead of a forecasted 1.7%, according to figures released by NZ Stats.
Petrol prices surged by 19% year-on-year, driving the annual rate of inflation, the increase in petrol prices attributed to rising crude oil prices , a weaker Kiwi Dollar and a regional fuel tax that was introduced in Auckland in July.
It was the first time that petrol prices rose for 4 consecutive months since September 2008, with more rises likely to come, a nationwide increase in petrol tax having been introduced in September.
Quarter-on-quarter, consumer prices rose by 0.9%, coming in ahead of a forecasted 0.7% and 2 nd quarter 0.5%, with petrol prices rising by 5.5% in the quarter.
The Kiwi Dollar moved from $0.65432 to $0.65931 upon release of the figures before easing back to $0.6572 at the time of writing, the Kiwi up 0.32% for the session.
For the Aussie Dollar , the RBA minutes provided few surprises, salient points from the minutes including:
Developments in trade policies continued to pose significant risks to a positive outlook on growth over the following couple of years.
S tariffs on China had affected capital goods and industrial inputs proportionally more than consumer goods.
Growth in industrial production in Asia had eased, as had growth in exports and new export orders; exports from the euro area to China had also eased.
In China, economic data out of China was mixed, with economic activity subdued in some sectors, infrastructure investment in particular, while manufacturing and real estate investment had risen.
Prices of iron ore and coking coal had increased over the month, attributed to strong demand from Chinese steel producers and supply disruption for coking coal.
Domestically, the economy saw its strongest year-ended growth since 2012, with more recent data supporting solid growth, while growth is expected to moderate from the 1 st half of the year.
Household consumption picked up, while uncertainties remained as wage growth remained subdued and house prices begun to fall, contributing to below-average growth in nominal retail spending.
Housing market conditions continued to ease.
Public sector spending continued to growth at a strong pace, with both public consumption and investment contributing to strong 2 nd quarter GDP numbers.
Mining investment had risen strongly in the 2 nd quarter, while non-mining investment eased, with overall conditions in the business sector positive.
Employment had risen strongly in August, with job vacancies increasing a little in the September quarter, with employment growth expected exceed population growth in the coming months.
Wage growth remained week, in spite of tightening labour market conditions.
Energy and bulk commodity prices had remained elevated, supporting Australia's terms of trade.
Members concluded that, when considering outlook for labour market conditions and inflation, the next move in the cash rate was more likely be an increase than a decrease, though there was no strong case for a near-term adjustment to policy.
The Aussie Dollar moved from $0.71385 to $0.71346 upon release of the minutes, which preceded inflation figures out of China.
Out of China, the annual rate of inflation picked up from 2.3% to 2.5% in September, year-on-year, which was in line with forecasts. Month-on-month, consumer prices rose by 0.7%, which was in line with August's rise and forecast. The Producer Price Index rose by 3.6% in September, coming up short of a forecasted 3.7% rise, while wholesale inflation eased from August's 4.1%.
The Aussie Dollar moved from $0.71374 to $0.71366 upon release of the figures, before easing to $0.71357 at the time of writing, the Aussie Dollar up 0.07% for the session.
Elsewhere, the Japanese Yen was down 0.09% to ¥111.87, with a pickup in risk appetite through the early part of the day easing demand for the Yen.
In the equity markets, there was some early respite, with Nikkei and ASX200 up 0.30% and 0.48% respectively, while the Hang Seng led the way early, with a gain of 0.63% at the time of writing. The CSI300 was up 0.47%, with the upward moves across the majors supported by the U.S Futures that moved into positive territory in the early part of the day.
The Day Ahead:
For the EUR , economic data scheduled for release through the day includes August trade data for the Eurozone and October economic sentiment figures out of Germany and the Eurozone, the economic sentiment figures the key driver, while the markets will likely pay some attention to the trade data following Trump's comments about the EU in his Sunday 60 Minutes interview.
Outside the numbers, we can expect the markets to continue to respond to Italy's budget plans, which were approved by the coalition government on Monday following the submission of draft budgets to the European Commission on Monday. The European Commission now has 1-week to raise any concerns or indicate that it is non-compliant, which then gives the European Commission until 29 th October to reject the budget. Rejection would then give the Italian government until 19 th November to submit a revised budget. It could be a testy 4 th quarter for the EUR…
At the time of writing, the EUR up 0.07% to $1.1587.
For the Pound , economic data scheduled for release through the day includes August wage growth figures and unemployment rate along with September claimant count numbers.
While we will expect the Pound to respond to the stats, focus will ultimately be on Brexit, with negotiators needing to come to an agreement in kind by Wednesday to avoid raising the chances of a "no-deal" as time becomes the British government's enemy.
At the time of writing, the Pound was up 0.05% to $1.3157.
Across the Pond , economic data is on the lighter side, limited to September industrial production figures and August JOLTs job openings. While on the lighter side, both sets of numbers will likely provide direction for the Dollar, a strong JOLTs job openings continuing to support sentiment towards labour market conditions.
With concerns over the global economic outlook rising, industrial production figures will be looked at closely to assess whether there has been any negative impact from the ongoing trade war between the U.S and China.
As always, noise from the Oval Office could overshadow today's data, with the markets now expecting Trump to inflict more pain on China through tariffs.
At the time of writing, the Dollar Spot Index was down 0.03% to 95.035, with today's stats and chatter from the Oval office needing consideration through the day.
For the Loonie , economic data through the day is limited to August foreign securities purchases data that will likely have a relatively muted impact on the Loonie, with sentiment towards the global economic outlook and risk appetite through the day to provide direction.
The Loonie was up 0.07% at C$1.2982 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Pound , economic data scheduled for release through the day includes August wage growth figures and unemployment rate along with September claimant count numbers. While we will expect the Pound to respond to the stats, focus will ultimately be on Brexit, with negotiators needing to come to an agreement in kind by Wednesday to avoid raising the chances of a "no-deal" as time becomes the British government's enemy. With concerns over the global economic outlook rising, industrial production figures will be looked at closely to assess whether there has been any negative impact from the ongoing trade war between the U.S and China. | The Day Ahead: For the EUR , economic data scheduled for release through the day includes August trade data for the Eurozone and October economic sentiment figures out of Germany and the Eurozone, the economic sentiment figures the key driver, while the markets will likely pay some attention to the trade data following Trump's comments about the EU in his Sunday 60 Minutes interview. Across the Pond , economic data is on the lighter side, limited to September industrial production figures and August JOLTs job openings. While on the lighter side, both sets of numbers will likely provide direction for the Dollar, a strong JOLTs job openings continuing to support sentiment towards labour market conditions. | Earlier in the Day: Economic data released through the Asian session this morning included 3 rd quarter inflation figures out of New Zealand and September inflation numbers out of China, with the RBA releasing its monetary policy meeting minutes from the 2 nd October meeting. Petrol prices surged by 19% year-on-year, driving the annual rate of inflation, the increase in petrol prices attributed to rising crude oil prices , a weaker Kiwi Dollar and a regional fuel tax that was introduced in Auckland in July. The Day Ahead: For the EUR , economic data scheduled for release through the day includes August trade data for the Eurozone and October economic sentiment figures out of Germany and the Eurozone, the economic sentiment figures the key driver, while the markets will likely pay some attention to the trade data following Trump's comments about the EU in his Sunday 60 Minutes interview. | Housing market conditions continued to ease. The Day Ahead: For the EUR , economic data scheduled for release through the day includes August trade data for the Eurozone and October economic sentiment figures out of Germany and the Eurozone, the economic sentiment figures the key driver, while the markets will likely pay some attention to the trade data following Trump's comments about the EU in his Sunday 60 Minutes interview. For the Loonie , economic data through the day is limited to August foreign securities purchases data that will likely have a relatively muted impact on the Loonie, with sentiment towards the global economic outlook and risk appetite through the day to provide direction. | b9cabe81-931d-4eaf-bdf1-e0b65f85717a |
709357.0 | 2018-10-11 00:00:00 UTC | China’s Trade Surplus Defies Gravity Again to Shift Focus to Trump and the USD | DBO | https://www.nasdaq.com/articles/chinas-trade-surplus-defies-gravity-again-shift-focus-trump-and-usd-2018-10-11 | nan | nan | Earlier in the Day:
Economic data released through this morning's Asian session was on the heavier side, with key stats including September Business PMI numbers out of New Zealand, August home loan out of Australian, along with the RBA's Financial Stability Review and September trade data out of China, while Japan's Tertiary Industry Activity Index and outstanding new loan figures out of China are due out later.
For the Kiwi Dollar , the business PMI slipped from 52.0 to 51.7 in September. Looking at the sub-indexes:
The production sub-index contracted in September, falling from 52.5 to 49.6.
Employment saw a pickup again, following a contraction in August, the sub-index rising from 49.0 to 50.5.
New orders saw slower growth, the sub-index easing from 53.1 to 52.4, while the rate of growth in finished stocks picked up, the sub-index rising from 51.4 to 52.7, while deliveries slowed, falling from 54.1 to 52.5.
The Kiwi Dollar moved from $0.65246 to $0.65268 upon release of the figures, before easing to $0.6518 at the time of writing, down 0.2% for the session.
For the Aussie Dollar , home loans fell by 2.1% in August, which was far worse than a forecasted 0.9% decline, following a 0.4% recovery back in July, according to figures released by the ABS.
The value of owner occupied dwelling commitments fell by 2.7%, while the value of investment housing fixed loans fell by 1.1%.
The number of dwelling commitments for the purchase of new dwellings rose by 0.3%, while the number of commitments for the purchase of established dwellings fell by 1.8%. The number of commitments for the construction of dwellings slumped by 6.2%.
Alongside the release of the home loan figures was the release of the RBA's Financial Stability Review, which included the following salient points:
The Australian economy has been strong with unemployment falling, though wage growth has been low.
Given a low gearing environment, businesses have been earning solid profits, with few having difficulty to service debt.
Conditions in the housing market have eased, reflecting a shift in supply and demand, with sentiment towards the sector becoming more cautious.
Recent falls in new home loans were reflective of slowing demand for housing finance, with stricter lending conditions also being rolled out this year.
Expectations are that most borrowers will be able to continue to meet repayment obligations, reflected in an overall low NPL level.
There is exposure to a sharp contraction in global growth or dislocation in global financial markets because of the importance of trade and capital inflows, worsening conditions likely to lead to a downturn in the domestic economy.
High household debt levels do not appear to be a large risk to the financial system, with majority of debt well secured, the risk of high household debt being to the economy through consumption.
The Aussie Dollar moved from $0.71267 to $0.71278 upon release of the figures, which came ahead of trade and outstanding new loan numbers out of China.
Out of China ,
September's trade surplus, in U.S Dollar terms, widened from $27.89bn to $31.69bn in September, which was better than a forecasted narrowing to $21bn.
Imports rose by 14.3% year-on-year, coming up short of a forecasted 15% rise, following August's 19.9% increase.
Exports rose by 14.5 Y% year-on-year, coming in well ahead of a forecasted 9.1% rise, following August's 9.8% increase.
There was little movement in the Aussie Dollar considering the upbeat figures, which would have been attributed to efforts by businesses to push out goods ahead of the introduction of tariffs, the weaker than expected import figures a possible early indicator of the beginnings of a fall in manufacturing sector productivity that would be aligned with the recent manufacturing PMI numbers out of China.
At the time of writing, the Aussie Dollar was down 0.04% to $0.7121.
Elsewhere, the Japanese Yen stood at ¥112.33, down 0.15% for the session, with the rout in the global equity markets and softer than anticipated inflation numbers out of the U.S providing support.
In the equity markets, it was a mixed bag at the time of writing, with the Hang Seng finding some support following the latest rout, up 0.48% at the time of writing, while the Nikkei, CSI300 and ASX200 continued to struggle, with declines of 0.45%, 0.48 and 0.05% respectively, the CSI300 showing little response to the latest trade figures.
The Day Ahead:
For the EUR , economic data out of the Eurozone is limited to finalized September inflation numbers out of Germany and the Eurozone's August industrial production figures.
While we expect finalized inflation numbers to have a muted impact on the EUR, some further support for the EUR could come off the back of the Eurozone's industrial production figures, though with market jitters over the outlook towards the global economy and the Eurozone's reliance on trade, August figures may well be discounted by the markets later this morning.
September trade data out of China impressed this morning, though the weaker import number may be a red flag, supporting the IMF's downward revision to economic growth for this year and next. Any slowdown in the global economy is never a good thing for the Eurozone economy and the EUR. Throw in the Italian coalition government's budget plans and it's looking precarious, though there is always the reverse carry trade to consider, inflows into the EUR likely to continue should the global equity market rout continue.
At the time of writing, the EUR was up 0.08% to $1.1602, with budget chatter from Italy and today's stats and market risk appetite in general the key drivers for the EUR.
For the Pound , it's another quiet day on the data front, leaving the Pound firmly in the hands of Brexit chatter, which has provided some much needed support of late, the Pound up 0.84% for the week through Thursday, though some Dollar weakness as contributed to the gains.
On the Brexit front, there were no updates out of Brussels, while the news wires suggest that the British PM intends to persist with the Chequers plan that was roasted by EU member states and pro-Brexit members of parliament in recent weeks. A softening in the EU's stance on the Irish border is one thing, but returning to the table with a lambasted proposal could backfire…
At the time of writing, the Pound was up 0.02% to $1.3232, with Brexit chatter to influence through the day.
Across the Pond , key stats through the day include September import and export prices along with October's prelim Michigan consumer expectations and sentiment figures.
While we can expect some direction from the consumer figures, the survey was likely carried out before the latest global equity market rout, which may well limit the effects of any numbers that are in line with or better than forecasted, consumer sentiment expected to improve in September.
Labour market conditions may be a huge plus, but rising concerns over the ongoing trade war between China and the U.S, long with doom and gloom from U.S corporates and even the IMF, consumers could begin to become anxious, particularly as the FED looks hell bent on continuing with its move towards policy normalization amidst plenty of uncertainty in the global economy.
Outside of the stats, FOMC members Evans and Bostic are scheduled to speak, with Trump's attacks on the FED and other chatter from the Oval Office also there to consider, the mid-term elections rapidly approaching as the global economy and the global equity markets begin to unravel.
At the time of writing, the Dollar Spot Index was down 0.02% to 94.994, with today's stats, FOMC member speeches and chatter from the Oval office needing consideration through the day.
For the Loonie , there are no material stats scheduled for release, with some upside against the Greenback coming off the back of the softer than anticipated September inflation numbers out of the U.S. A slide in crude oil prices and risk aversion across the global financial markets are likely to pin the Loonie back through the day, the lack of stats providing the markets with little to go on ahead of next week's retail sales and inflation figures.
The Loonie was down 0.02% at C$1.3034 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | September trade data out of China impressed this morning, though the weaker import number may be a red flag, supporting the IMF's downward revision to economic growth for this year and next. A softening in the EU's stance on the Irish border is one thing, but returning to the table with a lambasted proposal could backfire… At the time of writing, the Pound was up 0.02% to $1.3232, with Brexit chatter to influence through the day. Labour market conditions may be a huge plus, but rising concerns over the ongoing trade war between China and the U.S, long with doom and gloom from U.S corporates and even the IMF, consumers could begin to become anxious, particularly as the FED looks hell bent on continuing with its move towards policy normalization amidst plenty of uncertainty in the global economy. | Earlier in the Day: Economic data released through this morning's Asian session was on the heavier side, with key stats including September Business PMI numbers out of New Zealand, August home loan out of Australian, along with the RBA's Financial Stability Review and September trade data out of China, while Japan's Tertiary Industry Activity Index and outstanding new loan figures out of China are due out later. The Day Ahead: For the EUR , economic data out of the Eurozone is limited to finalized September inflation numbers out of Germany and the Eurozone's August industrial production figures. Across the Pond , key stats through the day include September import and export prices along with October's prelim Michigan consumer expectations and sentiment figures. | Earlier in the Day: Economic data released through this morning's Asian session was on the heavier side, with key stats including September Business PMI numbers out of New Zealand, August home loan out of Australian, along with the RBA's Financial Stability Review and September trade data out of China, while Japan's Tertiary Industry Activity Index and outstanding new loan figures out of China are due out later. While we expect finalized inflation numbers to have a muted impact on the EUR, some further support for the EUR could come off the back of the Eurozone's industrial production figures, though with market jitters over the outlook towards the global economy and the Eurozone's reliance on trade, August figures may well be discounted by the markets later this morning. For the Loonie , there are no material stats scheduled for release, with some upside against the Greenback coming off the back of the softer than anticipated September inflation numbers out of the U.S. A slide in crude oil prices and risk aversion across the global financial markets are likely to pin the Loonie back through the day, the lack of stats providing the markets with little to go on ahead of next week's retail sales and inflation figures. | Earlier in the Day: Economic data released through this morning's Asian session was on the heavier side, with key stats including September Business PMI numbers out of New Zealand, August home loan out of Australian, along with the RBA's Financial Stability Review and September trade data out of China, while Japan's Tertiary Industry Activity Index and outstanding new loan figures out of China are due out later. The Kiwi Dollar moved from $0.65246 to $0.65268 upon release of the figures, before easing to $0.6518 at the time of writing, down 0.2% for the session. The Aussie Dollar moved from $0.71267 to $0.71278 upon release of the figures, which came ahead of trade and outstanding new loan numbers out of China. | 7d173e53-718d-4f51-9bb6-d62d9cc0a6a2 |
709358.0 | 2018-10-10 00:00:00 UTC | Geo-political Risk and U.S Inflation to Drive the Greenback | DBO | https://www.nasdaq.com/articles/geo-political-risk-and-us-inflation-drive-greenback-2018-10-10 | nan | nan | Earlier in the Day:
There were no material stats released through the Asian session this morning, leaving the markets to consider U.S inflationary pressures following the release of wholesale inflation numbers on Wednesday ahead of this afternoon consumer price numbers.
Other pressures continue to include the built-up tensions between the U.S and China and market concerns over what lies ahead for the Italian coalition and the much talked about budget that could get nasty should the coalition's first budget be rejected.
At the time of writing, the Japanese Yen stood at ¥112.19, up 0.07% for the session, with the Aussie Dollar and Kiwi Dollar finding support. The Kiwi Dollar was up 0.23% to $0.6464, with the Aussie Dollar up 0.14% to $0.7065, the pair having struggled amidst the ongoing geo-political tensions, with gains through the early part of Wednesday reversing as the day progressed off the back of upward momentum in U.S Treasury Yields and risk off sentiment across the global financial markets.
In the equity markets, the cues came from Wednesday's sell-off in the European and U.S majors, the Nikkei sliding by 3.21%, pressure coming from a rebound in the Yen alongside the rise in geo-political risks, with the ASX200 down 1.71%.
For the CSI300 and Hang Seng, the pair followed in the path of the other majors early on, the Hang Seng opening down 3.05%, with the CSI300 down 3.11% at the time of writing, with the U.S futures showing little hope of a rebound from yesterday's losses in the early part of the day.
The Day Ahead:
For the EUR , economic data through the day includes finalized September inflation figures out of French and Spain, with the ECB monetary policy meeting minutes also due out later in the day.
Focus will be on the monetary policy minutes, with finalized inflation numbers unlikely to have an impact on the day, barring material deviation from prelim figures.
Of particular interest will be whether Draghi's post press conference view on inflation was discussed during the ECB gathering and whether there had been any discussion on how to address any acceleration in inflation in the coming months. For the ECB to consider a shift in policy on deposit and interest rates, a more positive view on wage growth would be needed. On the bearish side for the EUR, there could be concern over the ongoing trade war between the U.S and China and the possible effects on the Eurozone economy.
At the time of writing, the EUR was up 0.13% to $1.1535, with budget chatter from Italy and the ECB minutes the key drivers for the EUR.
For the Pound , there are no material stats scheduled for release through the European session, leaving the Pound in the hands of Brexit chatter that has drawn the bulls out of the woods, news of the EU easing its position on the Irish border bringing trade talks into focus, not to mention easing concerns over the EU being unwilling to form an agreement.
Earlier in the Asian session, the UK RICS House Price Balance numbers for September were released, with the headline house price balance falling to -2%, which was worse than a forecasted rise to 2%, a shift in sentiment towards the housing sector coming in the wake of BoE Governor Carney's dire warnings over the housing sector should Britain stumble out of the EU without a deal. The stats had limited impact on the Pound however, Brexit in focus.
At the time of writing, the Pound was up 0.09% to $1.3208, with Brexit chatter to influence through the day.
Across the Pond , focus will be on September inflation figures and the weekly jobless claims numbers, the key driver through the day expected to be the inflation numbers that are forecasted to be Dollar positive.
The markets have already begun getting edgy over FED policy that has seen Treasury yields spike. A pickup in the annual rate of inflation will see the markets begin taking an even more hawkish stance on policy and the rate path, though one does question whether the FED will be willing to take a more aggressive rate path from current projections.
At the time of writing, the Dollar Spot Index was down 0.10% to 95.416, with today's inflation figures and chatter from the Oval office needing consideration through the day.
For the Loonie , economic data is limited to August new housing price figures that are unlikely to provide direction for the Loonie, a string of housing sector numbers in the week having left the Loonie in the hands of market risk appetite and direction of crude oil prices that will likely continue through the day.
The Loonie was up 0.05% at C$1.3061 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In the equity markets, the cues came from Wednesday's sell-off in the European and U.S majors, the Nikkei sliding by 3.21%, pressure coming from a rebound in the Yen alongside the rise in geo-political risks, with the ASX200 down 1.71%. Focus will be on the monetary policy minutes, with finalized inflation numbers unlikely to have an impact on the day, barring material deviation from prelim figures. This article was originally posted on FX Empire More From FXEMPIRE: Price of Gold Fundamental Daily Forecast - Trader Reaction to $1200.10 Should Determine Direction Today Pound Grinds higher on Brexit Optimism, Dollar Slips DAX Index Daily Price Forecast - DAX to Open Dovish As Global Equity Markets Have Taken Bearish Tone Today The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: There were no material stats released through the Asian session this morning, leaving the markets to consider U.S inflationary pressures following the release of wholesale inflation numbers on Wednesday ahead of this afternoon consumer price numbers. The Day Ahead: For the EUR , economic data through the day includes finalized September inflation figures out of French and Spain, with the ECB monetary policy meeting minutes also due out later in the day. This article was originally posted on FX Empire More From FXEMPIRE: Price of Gold Fundamental Daily Forecast - Trader Reaction to $1200.10 Should Determine Direction Today Pound Grinds higher on Brexit Optimism, Dollar Slips DAX Index Daily Price Forecast - DAX to Open Dovish As Global Equity Markets Have Taken Bearish Tone Today The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR , economic data through the day includes finalized September inflation figures out of French and Spain, with the ECB monetary policy meeting minutes also due out later in the day. For the Loonie , economic data is limited to August new housing price figures that are unlikely to provide direction for the Loonie, a string of housing sector numbers in the week having left the Loonie in the hands of market risk appetite and direction of crude oil prices that will likely continue through the day. This article was originally posted on FX Empire More From FXEMPIRE: Price of Gold Fundamental Daily Forecast - Trader Reaction to $1200.10 Should Determine Direction Today Pound Grinds higher on Brexit Optimism, Dollar Slips DAX Index Daily Price Forecast - DAX to Open Dovish As Global Equity Markets Have Taken Bearish Tone Today The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Kiwi Dollar was up 0.23% to $0.6464, with the Aussie Dollar up 0.14% to $0.7065, the pair having struggled amidst the ongoing geo-political tensions, with gains through the early part of Wednesday reversing as the day progressed off the back of upward momentum in U.S Treasury Yields and risk off sentiment across the global financial markets. For the ECB to consider a shift in policy on deposit and interest rates, a more positive view on wage growth would be needed. At the time of writing, the EUR was up 0.13% to $1.1535, with budget chatter from Italy and the ECB minutes the key drivers for the EUR. | 9f576b14-0a76-484d-93a3-cd65be0dfb34 |
709359.0 | 2018-10-09 00:00:00 UTC | The Aussie and Kiwi Dollar Rally as U.S Treasury Yields Ease Back | DBO | https://www.nasdaq.com/articles/aussie-and-kiwi-dollar-rally-us-treasury-yields-ease-back-2018-10-09 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning included September electronic card retail sales figures out of New Zealand, October consumer sentiment figures out of Australia and August machinery orders out of Japan.
For the Kiwi Dollar , electronic card retail sales rose by 1.1% in September, following an upwardly revised 1.1% rise in August, according to Stats NZ.
Spending in the retail industries rose by 1.1%, with spending in the core retail industries also rising by 1.1%.
By industry, spending on consumables rose by 1%, on apparel by 0.9%, on durables and vehicles (excl. fuel) both by 0.8%, with 0.4% rises in spending on hospitality and on fuel.
Year-on-year, electronic card retail sales rose by 5.7%, easing back from a 6.3% rise in August.
For the 3 rd quarter (q/q), spending in the retail industries rose by 2.3% and by 2.1% in the core retail industries.
In the 3 rd quarter, the largest contributions to spending came from fuel (+3.4%), consumables (+2.4%), while spending on apparel dragged, with just a 0.1% rise.
The Kiwi Dollar moved from $0.64713 to $0.64760 upon release of the figures, before rising to $0.6487 at the time of writing, up 0.20% for the session.
For the Aussie Dollar , the Westpac Consumer Sentiment rose by 1% to 101.5 in October, the rise partially reversing September's 3% slide to 100.5.
Negative sentiment towards falling house prices, rising mortgage rates and rising petrol prices had offset the positive effects of a tax cut earlier in the year, leading to a 5.2% fall in confidence in August through September.
Support at the start of the 4 th quarter came from solid economic growth, labour market conditions and a recovery in certain mining states.
Looking at the key sub-indexes:
Family finances v a year ago rose by 2.6% to 87.4, sitting just shy of a long-run average of 89.5.
Family finances next 12-months rose by 0.6% to 102.8, sitting well below a long-run average of 102.8.
Economic conditions over next 12-months rose by 2.3% to 102.5, holding well above the long-run average of 90.8.
Economic conditions over next 5-year fell by 0.3%, with time to buy a dwelling falling by 0.9% and the house price expectations index down 7.4%, the housing sub-indexes sitting well below their respective long-run averages.
The unemployment expectations index rose by 1.7% to 122.8, also sitting below its long run average of 130.1.
The Aussie Dollar moved from $0.71091 to $0.71152 upon release of the figures, holding steady at $0.7115 at the time of writing, up 0.17% for the session.
For the Japanese Yen , August machinery orders rose by 6.8% in August, month-on-month, which was better than a forecasted 4% fall, following an 11% surge in July.
Year-on-year, machinery orders surged by 12.6%, which was also better than a forecasted 1.6% rise, following the 13.9% jump in July.
The Japanese Yen moved from ¥113.018 to ¥112.981 against the Dollar upon release of the figures, before easing to ¥113.02 at the tie of writing, down 0.05% for the session.
The Day Ahead:
For the EUR , there are no material stats scheduled for release to provide direction for the EUR, the EUR facing rising geo-political risk as the Italian coalition government look to force the EU's hand on its budget proposal that looks set to be rejected, which could lead to similar rhetoric as seen back in 2015, when Greece's Alexis Tsipras led the populist Syriza government into power.
At the time of writing, the EUR was up 0.16% to $1.1509, as Treasury yields steady to pin back the Dollar, while geo-political risk remains the key driver through the day.
For the Pound , it's a busy day ahead on the data front, with key stats scheduled for release including August industrial production and manufacturing figures, August trade data and the NIESR's monthly GDP Estimate.
While focus will be on the manufacturing production and GDP figures, we can expect sentiment towards Brexit to continue to overshadow the stats near-term, barring material deviation from forecasts, a "no-deal" Brexit of far greater significance than any pickup in economic activity mid-way through the 2 nd quarter.
On the policy front BoE MPC Member Haldane is scheduled to speak, who could provide some guidance on where the bank sits on policy as Brexit negotiations continue, though the markets would need something unexpected for the Pound to really move.
At the time of writing, the Pound was up 0.09% to $1.3155, with today's stats and Brexit chatter to influence through the day.
Across the Pond , economic data scheduled for release is limited to September wholesale price inflation figures that will have an impact on both the Dollar and U.S Treasury yields, particularly if the numbers are in line with or better than forecasted, the markets already fretting over a possibly more aggressive rate path as the unemployment rate hits a 49-year low and the economy continues to rocket along in spite of the ongoing trade war with China.
Outside of the stats, FOMC members Williams spoke through the Asian session, supporting the FED's projected gradual rate hikes, while providing few details on timing and number of moves.
Later in the day, FOMC member Evans is scheduled to speak, any monetary policy commentary expected to provide some direction, though we would expect the inflation figures to have a greater influence.
As always, the Oval Office will also be every present to influence through the day, the Dollar Spot Index down 0.09% to 95.585 at the time of writing, an easing in U.S Treasury yields pinning back the Greenback early on.
For the Loonie , economic data scheduled for release out of Canada is limited to August building permits that are unlikely to have a material impact on the Loonie, with market risk sentiment through the day and anticipated demand for crude oil the key drivers, market jitters over the effect of the ongoing trade war on the global economy adding pressure on the Loonie following the closing out of USMCA.
The Loonie was up 0.02% at C$1.2943 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | At the time of writing, the EUR was up 0.16% to $1.1509, as Treasury yields steady to pin back the Dollar, while geo-political risk remains the key driver through the day. Outside of the stats, FOMC members Williams spoke through the Asian session, supporting the FED's projected gradual rate hikes, while providing few details on timing and number of moves. As always, the Oval Office will also be every present to influence through the day, the Dollar Spot Index down 0.09% to 95.585 at the time of writing, an easing in U.S Treasury yields pinning back the Greenback early on. | Earlier in the Day: Economic data released through the Asian session this morning included September electronic card retail sales figures out of New Zealand, October consumer sentiment figures out of Australia and August machinery orders out of Japan. The Day Ahead: For the EUR , there are no material stats scheduled for release to provide direction for the EUR, the EUR facing rising geo-political risk as the Italian coalition government look to force the EU's hand on its budget proposal that looks set to be rejected, which could lead to similar rhetoric as seen back in 2015, when Greece's Alexis Tsipras led the populist Syriza government into power. For the Pound , it's a busy day ahead on the data front, with key stats scheduled for release including August industrial production and manufacturing figures, August trade data and the NIESR's monthly GDP Estimate. | Earlier in the Day: Economic data released through the Asian session this morning included September electronic card retail sales figures out of New Zealand, October consumer sentiment figures out of Australia and August machinery orders out of Japan. Across the Pond , economic data scheduled for release is limited to September wholesale price inflation figures that will have an impact on both the Dollar and U.S Treasury yields, particularly if the numbers are in line with or better than forecasted, the markets already fretting over a possibly more aggressive rate path as the unemployment rate hits a 49-year low and the economy continues to rocket along in spite of the ongoing trade war with China. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD and NZD/USD Fundamental Daily Forecast - Lower PPI Could Trigger Wicked Short-Covering Rally EUR/USD Daily Price Forecast - EURO Gains Upper Hand on Weak US Greenback in Broad Market Price of Gold Fundamental Daily Forecast - PPI Downside Miss Could Spike Gold Prices $10 Higher The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning included September electronic card retail sales figures out of New Zealand, October consumer sentiment figures out of Australia and August machinery orders out of Japan. Economic conditions over next 12-months rose by 2.3% to 102.5, holding well above the long-run average of 90.8. The Aussie Dollar moved from $0.71091 to $0.71152 upon release of the figures, holding steady at $0.7115 at the time of writing, up 0.17% for the session. | a078390b-2e37-4d5b-b32c-e4227bea6fce |
709360.0 | 2018-10-08 00:00:00 UTC | Geo-Political Risk and the Greenback Remain in Focus | DBO | https://www.nasdaq.com/articles/geo-political-risk-and-greenback-remain-focus-2018-10-08 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning included August current account figures out of Japan, September business confidence numbers out of Australia and September retail sales figures out of the UK.
For the Japanese Yen , the current account surplus narrowed from ¥2.010T to ¥1.838T on a non-seasonally adjusted basis in August, which was worse than a forecasted narrowing to ¥1.897T. On a seasonally adjusted basis, the current account surplus narrowed from ¥1.48T to ¥1.43T, which was worse than a forecasted widening to ¥1.52T.
The Japanese Yen moved from ¥113.135 to ¥113.041 against the Dollar upon release of the figures, before rising to ¥113.03 against the Dollar at the time of writing, up 0.18% for the session.
For the Aussie Dollar , the NAB Business Confidence Index rose from 5 to 6 in September, coming in ahead of a forecasted hold at 5.
The uptick in the month was attributed to an improvement in the employment index that was partially offset by a minor decline in trading conditions, while profitability was reportedly unchanged.
The Aussie Dollar moved from $0.70734 to $0.70745 upon release of the figures, before rising to $0.7079 at the time of writing, up 0.01% for the session, the Aussie Dollar finding some respite following last week's sell-off.
Elsewhere, the Kiwi Dollar was also on a better footing through the early hours, up 0.05% at $0.6451, though sentiment could shift quickly should risk aversion plague the Asian markets later in the morning.
The Day Ahead:
For the EUR , it's another relatively quiet day on the data front, with key stats scheduled for release limited to August trade data out of Germany.
Following disappointing industrial production figures out of Germany on Monday, the EUR could be in for another fall should the stats fail to meet forecasts, the trade surplus forecasted to widen from €15.8bn to €16.4bn in August.
Outside of the stats, we can expect geo-political risk to remain front and centre, with Italy and the rising tensions between the U.S and China to influence.
At the time of writing, the EUR was down 0.01% to $1.1491, geo-political risk the key driver, while today's trade data will likely influence at the time of release.
For the Pound , it's another quiet day on the data front, with no material stats scheduled for release to provide direction for the Pound, leaving the markets to focus on Brexit chatter through the day and a BoE MPC member Broadbent speech scheduled for this afternoon.
A combination of positive news on Brexit negotiations and hawkish MPC member chatter would certainly revive the Pound, though until the EU and Britain finalize any deal, the BoE may hold back on any optimism, the latest updates on Brexit negotiations suggesting there is still some way to go for Britain to garner a favourable deal.
In the early hours of the day, the September BRC Retail Sales Monitor figures were released, which reflected a 0.2% fall in retail sales, reversing August's 0.2% rise.
The weakest sales figures in 5-months was attributed to increased uncertainty over Brexit, tepid wage growth and rising consumer prices.
Total sales eased from 1.3% to 0.7% in September, with a shift in weather conditions and an end to the 2018 World Cup weighing on consumption.
The Pound moved from $1.30907 to $1.30926 upon release of the figures, before easing to $1.3090 at the time of writing, flat for the session.
Across the Pond , there are also no major stats scheduled for release, leaving the Dollar in the hands of Trump and chatter over trade and market risk appetite in general, with the less influential Redbook numbers likely to have some influence at the time of release later this afternoon.
While we will expect geo-political risk to be the key driver, FOMC member Evans speaking in the afternoon could provide some direction, the recent rise in Treasury yields coming as the market begins to consider the need for a more aggressive rate path.
At the time of writing, the Dollar Spot Index was down 0.01% to 95.75, with Oval Office chatter the key driver through the day.
For the Loonie , key stats scheduled for release are limited to September housing start numbers that will provide the Loonie with some direction, with forecasts being positive, though we will expect direction to ultimately come from crude oil prices and chatter from the Oval Office through the day, risk aversion likely to continue weighing in spite of market sentiment towards BoC monetary policy.
The Loonie flat at C$1.2965 against the U.S Dollar at the time of writing.
This article was originally posted on FX Empire
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NEM's XEM Technical Analysis - Support Levels in Play - 09/10/18
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Across the Pond , there are also no major stats scheduled for release, leaving the Dollar in the hands of Trump and chatter over trade and market risk appetite in general, with the less influential Redbook numbers likely to have some influence at the time of release later this afternoon. The uptick in the month was attributed to an improvement in the employment index that was partially offset by a minor decline in trading conditions, while profitability was reportedly unchanged. While we will expect geo-political risk to be the key driver, FOMC member Evans speaking in the afternoon could provide some direction, the recent rise in Treasury yields coming as the market begins to consider the need for a more aggressive rate path. | Across the Pond , there are also no major stats scheduled for release, leaving the Dollar in the hands of Trump and chatter over trade and market risk appetite in general, with the less influential Redbook numbers likely to have some influence at the time of release later this afternoon. The Day Ahead: For the EUR , it's another relatively quiet day on the data front, with key stats scheduled for release limited to August trade data out of Germany. For the Pound , it's another quiet day on the data front, with no material stats scheduled for release to provide direction for the Pound, leaving the markets to focus on Brexit chatter through the day and a BoE MPC member Broadbent speech scheduled for this afternoon. | Across the Pond , there are also no major stats scheduled for release, leaving the Dollar in the hands of Trump and chatter over trade and market risk appetite in general, with the less influential Redbook numbers likely to have some influence at the time of release later this afternoon. Earlier in the Day: Economic data released through the Asian session this morning included August current account figures out of Japan, September business confidence numbers out of Australia and September retail sales figures out of the UK. For the Pound , it's another quiet day on the data front, with no material stats scheduled for release to provide direction for the Pound, leaving the markets to focus on Brexit chatter through the day and a BoE MPC member Broadbent speech scheduled for this afternoon. | Across the Pond , there are also no major stats scheduled for release, leaving the Dollar in the hands of Trump and chatter over trade and market risk appetite in general, with the less influential Redbook numbers likely to have some influence at the time of release later this afternoon. Earlier in the Day: Economic data released through the Asian session this morning included August current account figures out of Japan, September business confidence numbers out of Australia and September retail sales figures out of the UK. At the time of writing, the EUR was down 0.01% to $1.1491, geo-political risk the key driver, while today's trade data will likely influence at the time of release. | bce14d92-baf8-4105-a05f-e6c97afb8cdc |
709361.0 | 2018-10-02 00:00:00 UTC | RBA Holds on Rates, Focus Shifting to Trump and His Next Trade Target | DBO | https://www.nasdaq.com/articles/rba-holds-rates-focus-shifting-trump-and-his-next-trade-target-2018-10-02 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was limited to 3 rd quarter NZIER business confidence figures out of New Zealand. Outside of the stats, the RBA also delivered its October interest rate decision and rate statement.
For the Kiwi Dollar , business confidence took a turn for the worse for the 3 rd quarter, with a net 28% of businesses expecting economic conditions to worsen, the lowest level since March 2009. According to the NZIER's Quarter Survey of Business Opinion:
Firms' own activity for the September quarter and expectations for the next quarter both fell, pointing to a slowing in economic growth over the 2 nd half of the current year. A net 0.4% of firms reported higher demand over the 3 rd quarter, the lowest level since September 2012.
A net 3% of businesses reduced headcount in the September quarter, the reduction attributed to a deterioration in profitability, with cost pressures weighing and businesses remaining pessimistic about margins and profitability.
Manufacturers overtook retailers to become the most pessimistic sector, weaker demand and rising costs leading to a material decline in sector confidence.
Rising cost pressures also weighed on building sector confidence, with higher cost pressures and softer demand weighing. On the brighter side, architects' measure of work in their offices picked up in the pipeline of residential and commercial construction for the year ahead.
Businesses rated government policy as having the most influence on their assessment of the general business situation, followed by labour costs and consumer confidence.
The Kiwi Dollar moved from $0.66169 to $0.66068 upon release of the numbers, before recovering to $0.6608 at the time of writing, down 0.12% for the session
For the Aussie Dollar , the RBA held rates unchanged at 1.5% as had been expected, with direction for the Aussie Dollar coming from the RBA's rate statement. Salient points from the rate statement included:
While a number of advanced economies are growing at above-trend rate, growth in China has slowed a little, with authorities easing policy.
Ongoing uncertainty regarding the global outlook stems from the direction of international trade policy in the U.S.
Latest national accounts confirmed strong economic growth of 3.4% over the last year, with growth forecasted to remain above 3% in for the years 2018 and 2019.
Business conditions are positive, with non-mining business investment expected to increase.
Higher levels of public infrastructure investment is also supporting the economy, along with growth in resource exports.
Uncertainty remains over the outlook for household consumption, with growth in household incomes remaining low and household debt at high levels.
Outlook for labour market remains positive, sitting at lowest level in close to 6-years, with wages expected to gradually increase over time, supported by improvement in the economy.
Inflation is at around 2% and is forecasted to be higher in 2019 and 2020, while expected to be lower in 2018.
Housing sector conditions continued to ease, with rent inflation remaining low.
The low level interest rate environment continues to support the economy, with further progress in reducing unemployment and having inflation return to target expected, though gradually.
The Aussie Dollar moved from $0.7228 to $0.72328 on the rate hold and release of the rate statement, easing back from an initial spike to a morning high $0.72379.
For the Japanese Yen , with no material stats released through the session, the closing out of the NAFTA deal eased demand for the Yen through the session, which was down by 0.04% to ¥113.97 against the Dollar at the time of writing.
In the equity markets, the Nikkei continued to find support from the Yen and news of the U.S and Canada finally agreeing on trade terms, the Nikkei up 0.27% at the time of writing, while the ASX200 continued its recent downward trend, weighed by the big-4 banks. For the Hang Seng it was catch up time, the HK markets having been closed on Monday, with a rally in crude oil prices and the NAFTA agreement failing to offset the negative sentiment towards the disappointing private sector PMI numbers out of China over the weekend to leave the Hang Seng down 1.64%.
The Day Ahead:
For the EUR , economic data scheduled for release out of the Eurozone is limited to Spanish unemployment figures that are unlikely to have a material impact on the EUR, with focus remaining on Italy and chatter from the Oval Office on trade terms with the EU likely to come into focus, now that the U.S has wrapped up NAFTA.
At the time of writing, the EUR was down 0.07% to $1.1570, the Italian Budget and noise from the Oval Office expected to influence.
For the Pound , economic data is limited to September's construction PMI that will provide some direction, the numbers skewed to the negative for the Pound and September house price figures that will likely be brushed aside by the markets. Outside of the stats, Brexit chatter and noise from the Tory Party conference will continue to be in focus ahead of Theresa May's closing speech at the conference tomorrow.
At the time of writing, the Pound was down 0.05% to $1.3036 with Brexit chatter and noise from the Tory Party Conference the key drivers through the day.
Across the Pond , there are no material stats scheduled for release through the session, leaving the markets to consider the release of the Redbook data later this afternoon.
Outside of the stats, FED Chair Powell and FOMC member Quarles are scheduled to speak through the U.S session, FED Chair Powell having just recently demonstrated his ability to move the Dollar, with today's topic relating to both inflation and employment likely to garner plenty of interest.
At the time of writing, the Dollar Spot Index was up 0.03% to 95.33, with the Oval Office also there to consider through the day.
For the Loonie , it's another quiet day on the data front, with no material stats scheduled for release, leaving the Loonie in the hands of sentiment towards BoC monetary policy and direction of crude oil prices , the markets needing to consider the BoC's next move, now that NAFTA has been wrapped up.
At the time of writing, the Loonie was up 0.08% to C$1.2804 against the U.S Dollar.
This article was originally posted on FX Empire
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Forex Daily Outlook - October 2, 2018
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Across the Pond , there are no material stats scheduled for release through the session, leaving the markets to consider the release of the Redbook data later this afternoon. Earlier in the Day: Economic data released through the Asian session this morning was limited to 3 rd quarter NZIER business confidence figures out of New Zealand. Outlook for labour market remains positive, sitting at lowest level in close to 6-years, with wages expected to gradually increase over time, supported by improvement in the economy. | Across the Pond , there are no material stats scheduled for release through the session, leaving the markets to consider the release of the Redbook data later this afternoon. Earlier in the Day: Economic data released through the Asian session this morning was limited to 3 rd quarter NZIER business confidence figures out of New Zealand. Outlook for labour market remains positive, sitting at lowest level in close to 6-years, with wages expected to gradually increase over time, supported by improvement in the economy. | Across the Pond , there are no material stats scheduled for release through the session, leaving the markets to consider the release of the Redbook data later this afternoon. The Kiwi Dollar moved from $0.66169 to $0.66068 upon release of the numbers, before recovering to $0.6608 at the time of writing, down 0.12% for the session For the Aussie Dollar , the RBA held rates unchanged at 1.5% as had been expected, with direction for the Aussie Dollar coming from the RBA's rate statement. Ongoing uncertainty regarding the global outlook stems from the direction of international trade policy in the U.S. Latest national accounts confirmed strong economic growth of 3.4% over the last year, with growth forecasted to remain above 3% in for the years 2018 and 2019. Business conditions are positive, with non-mining business investment expected to increase. | Across the Pond , there are no material stats scheduled for release through the session, leaving the markets to consider the release of the Redbook data later this afternoon. A net 0.4% of firms reported higher demand over the 3 rd quarter, the lowest level since September 2012. For the Japanese Yen , with no material stats released through the session, the closing out of the NAFTA deal eased demand for the Yen through the session, which was down by 0.04% to ¥113.97 against the Dollar at the time of writing. | 8b7cfcf0-10e4-48dd-b250-b3a5a1bf1f8d |
709362.0 | 2018-10-02 00:00:00 UTC | Rising Geo-Political Risk Drives Support for the Yen and Dollar | DBO | https://www.nasdaq.com/articles/rising-geo-political-risk-drives-support-yen-and-dollar-2018-10-02 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was on the lighter side, with stats limited to August building approval figures out of Australia.
For the Aussie Dollar , building approvals tumbled by 9.4% in August, according to the ABS, which was far worse than a forecasted 1.2% rise and continued the downward trend following July's 5.2% slide.
The tumble was attributed to a 17.2% decrease in approvals for private dwellings excluding houses, while approvals for private houses were also in decline, down by 1.9%.
The value of total building approved fell by 1.3%, marking a 9 th consecutive monthly fall.
The Aussie Dollar moved from $0.71745 to $0.71696 upon release of the figures, before rising to $0.71709 at the time of writing, down 0.24% for the session.
Elsewhere, the Japanese Yen , was up by 0.09% to ¥113.55 against the U.S Dollar at the time of writing, supported by market jitters over Italy and, not only its fiscal policy plans, but also some chatter of being better off with its own currency. For the Kiwi Dollar , things were not much better, the risk off sentiment weighing, the Kiwi down 0.27% to $0.6575 at the time of writing.
In the equity markets, the Nikkei hit reverse, down by 0.56% at the time of writing, with risk aversion weighing in the early part of the day, while the ASX200 managed to stop the rot, up 0.32%, with support coming from the big-4 that had been under the hammer of late. For the Hang Seng, the slide continued early, the Hang Seng down 0.34%, the ongoing trade war with the U.S and weakening economic data out of China doing the damage alongside risk aversion stemming from geo-political risk rising out of the EU.
The Day Ahead:
For the EUR , economic data scheduled for release out of the Eurozone is on the heavier side and includes September service sector PMI numbers out of Italy and Spain and finalized PMI numbers out of France, Germany and the Eurozone, with the Eurozone's August retail sales figures also due out.
While we can expect the EUR to show some response to the stats, the ongoing concerns over Italy ahead of the coalition government's budget submission to Brussels mid-month continues to be a concern and may well overshadow the numbers should there be more chatter from members of the coalition.
One other factor to consider and monitor will be chatter from the Oval Office, the EU now in the U.S administration's sights on trade, the last trade meeting with the EU now some time ago.
At the time of writing, the EUR was down 0.06% to $1.1541, the Italian Budget and noise from the Oval Office remaining the key risks to the EUR, with today's stats to provide some direction at the time of release.
For the Pound , it's the last of the 3 September PMI numbers, with September's service sector PMI scheduled for release. While the manufacturing and construction PMIs delivered mixed results, it's down to the more significant component of the UK economy to provide the markets with some guidance on where the UK economy is heading going into the 4 th quarter. Forecasts are for a slightly softer number, anything weaker than forecasts likely to rile the Pound.
Outside of the stats, the British PM will be wrapping up the Tory Party Conference with a speech later today, which will influence alongside Brexit chatter that has yet to inspire the markets, the prospects of a "no-deal" remaining a real possibility as both sides continue to flex their muscles.
At the time of writing, the Pound was down 0.02% to $1.2976 with Brexit chatter, noise from the Tory Party Conference and today's service sector PMI being the key drivers through the day.
Across the Pond , it's a busy day on the data front, with key stats scheduled for release including the market's preferred ISM non-manufacturing PMI numbers for September and the Markit survey finalized service sector PMI number for September, which are preceded by September's ADP nonfarm employment change figure.
While the ISM non-manufacturing PMI will be of influence, the ADP number will need to be in line with or better than a forecasted 185K to avoid a Dollar sell-off in response to the figures, positive ADP numbers likely to give the ISM number a greater influence on the day.
Outside of the stats, FED Chair Powell and FOMC members Brainard and Mester are scheduled to speak late in the U.S session, policy chatter likely to provide direction for the Dollar, Powell and then Brainard to have greater influence.
Added support for the Dollar has come from a spike in geo-political risk as Italy and Greece look to go into the ring with the EU on budgets, with lingering trade war jitters also there to consider.
At the time of writing, the Dollar Spot Index was up 0.04% to 95.545, with today's stats and noise from Italy and the Oval Office to consider through the day.
For the Loonie , there are no material stats scheduled for release, which should leave the Loonie relatively quiet through the day barring a release of disappointing U.S crude oil inventory numbers out of the U.S that would weigh.
At the time of writing, the Loonie was down 0.03% to C$1.2827 against the U.S Dollar.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning was on the lighter side, with stats limited to August building approval figures out of Australia. In the equity markets, the Nikkei hit reverse, down by 0.56% at the time of writing, with risk aversion weighing in the early part of the day, while the ASX200 managed to stop the rot, up 0.32%, with support coming from the big-4 that had been under the hammer of late. Outside of the stats, the British PM will be wrapping up the Tory Party Conference with a speech later today, which will influence alongside Brexit chatter that has yet to inspire the markets, the prospects of a "no-deal" remaining a real possibility as both sides continue to flex their muscles. | At the time of writing, the EUR was down 0.06% to $1.1541, the Italian Budget and noise from the Oval Office remaining the key risks to the EUR, with today's stats to provide some direction at the time of release. Across the Pond , it's a busy day on the data front, with key stats scheduled for release including the market's preferred ISM non-manufacturing PMI numbers for September and the Markit survey finalized service sector PMI number for September, which are preceded by September's ADP nonfarm employment change figure. This article was originally posted on FX Empire More From FXEMPIRE: USD/JPY Fundamental Daily Forecast - Concerns Over Italian Finances Driving Investors into Safe-Haven Japanese Yen Rising Geo-Political Risk Drives Support for the Yen and Dollar GBP/JPY Price Forecast - British pound falls hard against yen The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR , economic data scheduled for release out of the Eurozone is on the heavier side and includes September service sector PMI numbers out of Italy and Spain and finalized PMI numbers out of France, Germany and the Eurozone, with the Eurozone's August retail sales figures also due out. Across the Pond , it's a busy day on the data front, with key stats scheduled for release including the market's preferred ISM non-manufacturing PMI numbers for September and the Markit survey finalized service sector PMI number for September, which are preceded by September's ADP nonfarm employment change figure. This article was originally posted on FX Empire More From FXEMPIRE: USD/JPY Fundamental Daily Forecast - Concerns Over Italian Finances Driving Investors into Safe-Haven Japanese Yen Rising Geo-Political Risk Drives Support for the Yen and Dollar GBP/JPY Price Forecast - British pound falls hard against yen The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Aussie Dollar , building approvals tumbled by 9.4% in August, according to the ABS, which was far worse than a forecasted 1.2% rise and continued the downward trend following July's 5.2% slide. At the time of writing, the EUR was down 0.06% to $1.1541, the Italian Budget and noise from the Oval Office remaining the key risks to the EUR, with today's stats to provide some direction at the time of release. At the time of writing, the Loonie was down 0.03% to C$1.2827 against the U.S Dollar. | 4d82ea21-afc7-4992-898e-956017336d24 |
709363.0 | 2018-10-02 00:00:00 UTC | The 7 Best ETFs of the Third Quarter | DBO | https://www.nasdaq.com/articles/the-7-best-etfs-of-the-third-quarter | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Domestic stocks impressed in the third quarter with the S&P 500 finishing the July through September period with a gain of 7.4%. Even with that, the number of exchange-traded funds (ETFs) posting third-quarter gains of 10% or more is not particularly gaudy.
Just over 120 U.S.-listed ETFs notched double-digit, third-quarter gains. Strip out leveraged ETFs and that number declines in significant fashion. Still, there were some impressive ETF performers during the third quarter, some well-known, others obscure.
While the number of funds that can be considered the best ETFs of the third quarter is not necessarily large, the best ETFs of the past three months do span a wide array of asset classes and investment opportunities. Some of the best ETFs from the third quarter include commodities funds and funds from the downtrodden emerging markets complex.
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Here are some of the third-quarter's best ETFs, some of which have the potential to extend their gains through the end of this year.
Invesco DB Oil Fund (DBO)
Source: Shutterstock
Expense Ratio: 0.78%, or $78 annually per $10,000 invested
Oil is one of this year's best-performing commodities, a theme that continued in the third quarter. The Invesco DB Oil Fund (NYSEARCA: DBO ) was one of the prior quarter's best-performing commodities ETFs, notching a gain of 10.7%.
DBO "is designed for investors who want a cost-effective and convenient way to invest in commodity futures. The Index is a rules-based index composed of futures contracts on light sweet crude oil (WTI)," according to Invesco .
DBO is looking to keep its best ETFs status running in the fourth quarter and got off to a good start, posting a gain of 3.12% on Monday as oil prices jumped to multi-year highs. Still, some analysts believe oil prices are bound to retreat.
"Eventually, we expect pain for oil prices as growing U.S. production serves as the primary weight to tip oil markets back into oversupply," said Morningstar .
Change Finance U.S. Large Cap Fossil Free ETF (CHGX)
Source: Shutterstock
Expense Ratio: 0.49%
Yes, oil is surging and the energy sector is rebounding from its 2017 doldrums, but those scenarios are not hindering ETFs that lack exposure to traditional energy stocks. The Change Finance U.S. Large Cap Fossil Free ETF (NYSEARCA: CHGX ) gained more than 10% in the third quarter.
One of the best ETFs in the third quarter, CHGX does much more than exclude companies engaged in the production of fossil fuels. Companies producing nuclear power, GMOs, military weapons or pesticides are also excluded from the CHGX portfolio.
Also excluded are "companies with a history of controversial business practice relating to human rights, labor rights (including, but not limited to, forced labor, child labor, and discrimination), environment, or business malpractice (including, but not limited to, corruption and taxes)," according to the issuer .
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CHGX, which is nearly a year old, currently holds approximately 100 stocks.
iShares MSCI Poland ETF (EPOL)
Source: Shutterstock
Expense Ratio: 0.63%
By the standard set earlier this year, the MSCI Emerging Markets Index finishing flat in the third quarter is a positive accomplishment. Similar words can be used with the iShares MSCI Poland ETF (NYSEARCA: EPOL ). EPOL was one of the third-quarter's best ETFs, gaining 11%, but the Poland fund is still down nearly 12% year-to-date.
It has gone somewhat overlooked, but index provider FTSE Russell now classifies Poland as a developed market, so investors in the Vanguard FTSE Emerging Markets ETF (NYSEARCA: VWO ) will not see Polish stocks in that fund any longer. There are some favorable traits that could help EPOL retain its status among the best ETFs.
"Ratings agency Moody's last month revised upward its forecast for Polish GDP growth this year to 5 percent, and it also raised its projection for Poland's economic growth next year to 4.2 percent," reports Radio Poland . "The Polish economy grew 5.1 percent in the second quarter of this year, the country's Central Statistical Office (GUS) said in late August."
WisdomTree Japan Hedged Equity Fund (DXJ)
Source: Shutterstock
Expense Ratio: 0.48%
The dollar is strong and many ex-U.S. markets, developed and emerging, are languishing this year. Japan has not been immune to the developed markets struggle, but that scenario is reversing for the better. The WisdomTree Japan Hedged Equity Fund (NYSEARCA: DXJ ) was one of the best ETFs tracking a developed market in the third quarter, posting a gain of 8.8%.
DXJ's best ETF status appears to be accelerating as the fund is up 7% over the past month and recently surged back above its 200-day moving average. These days, a familiar refrain is that markets outside the U.S. are inexpensive relative to the S&P 500 and other major domestic equity benchmarks, but there is value and there are value traps. Japan is more the former than the latter.
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"Against a backdrop of very attractive equity valuations - at 13.7x, the TOPIXprice-to-earnings (P/E) multiple has dropped back to the lowest 5% level reported over the past decade - the trigger for upside performance must come from positive earnings surprises," according to WisdomTree . "Our analysis suggests the probability of a sharp positive inflection in earnings visibility is about to be delivered in Japan, possibly as early as the upcoming fiscal half-year results season, which is about to get going by the end of October."
Fidelity MSCI Health Care Index ETF (FHLC)
Source: Shutterstock
Expense Ratio: 0.084%
To access some of the best ETFs in the prior quarter, investors did not need to bite off significant risk. The Fidelity MSCI Health Care Index ETF (NYSEARCA: FHLC ) proved as much. This Fidelity fund is a plain vanilla play on the healthcare sector, focusing heavily on large-cap, blue-chip pharmaceuticals and biotechnology stocks.
FHLC also proves that some of the best ETFs can also be cheap. Fidelity offers the cheapest lineup of sector ETFs on the market and that includes FHLC. With a third-quarter gain of 13.2%, FHLC was one of several healthcare ETFs ranking among the best ETFs overall during the July through September time frame.
FHLC has seen year-to-date inflows of $341.44 billion, or more than 20% of its $1.50 billion in assets under management.
iShares U.S. Aerospace & Defense ETF (ITA)
Source: Shutterstock
Expense Ratio: 0.43%
Aerospace and defense funds are among the best ETFs tracking industrial stocks this year. In fact, funds such as the iShares U.S. Aerospace & Defense ETF (BATS: ITA ) are easily topping traditional, diversified industrial ETFs. ITA was one of the best ETFs in the third quarter, posting a gain of 12.60%, which elevated its year-to-date showing to just over 16%.
The $6.11 billion ITA targets the Dow Jones U.S. Select Aerospace & Defense Index and holds nearly 40 stocks. Nearly 20% of the fund's weight is concentrated in two members of the Dow Jones Industrial Average : Boeing (NYSE: BA ) and United Technologies (NYSE: UTX ).
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Last year, aerospace and defense earnings growth topped that of the S&P 500, a trend that is expected to repeat this year. Bolstering the case for ITA as one of the best ETFs for the long-term is that aerospace earnings growth is expected to top the broader markets for several more years .
ETFMG Alternative Harvest ETF (MJ)
Source: Shutterstock
Expense Ratio: 0.75%
Last, but certainly not least is the ETFMG Alternative Harvest ETF (NYSEARCA: MJ ). The only U.S.-listed marijuana ETF was easily one of the best ETFs of the third-quarter, surging a stunning 36.40%. Much of MJ's recent ebullience can be tied to the anticipation of Canada officially legalizing recreational marijuana later this month.
The notorious, volatile Tilray (NASDAQ: TLRY ) is MJ's largest holding at 9.66% of the fund's weight. Three other holdings also garner weights in excess of 9%. Canada-based Tilray went public in the third quarter, undoubtedly fueling MJ's ascent over the past several months, but Tilray has its doubters . With little revenue and a market value of $22 billion , those doubters could be proven correct.
Overall, MJ holds roughly 40 stocks. Whether it is a good sign or a warning sign, MJ saw third-quarter inflows of $151.60 million, which is a significant chunk of this best ETF's $678.88 million in assets under management.
Todd Shriber owns shares of VWO.
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The post The 7 Best ETFs of the Third Quarter appeared first on InvestorPlace .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Invesco DB Oil Fund (DBO) Source: Shutterstock Expense Ratio: 0.78%, or $78 annually per $10,000 invested Oil is one of this year's best-performing commodities, a theme that continued in the third quarter. The Invesco DB Oil Fund (NYSEARCA: DBO ) was one of the prior quarter's best-performing commodities ETFs, notching a gain of 10.7%. DBO "is designed for investors who want a cost-effective and convenient way to invest in commodity futures. | Invesco DB Oil Fund (DBO) Source: Shutterstock Expense Ratio: 0.78%, or $78 annually per $10,000 invested Oil is one of this year's best-performing commodities, a theme that continued in the third quarter. The Invesco DB Oil Fund (NYSEARCA: DBO ) was one of the prior quarter's best-performing commodities ETFs, notching a gain of 10.7%. DBO "is designed for investors who want a cost-effective and convenient way to invest in commodity futures. | Invesco DB Oil Fund (DBO) Source: Shutterstock Expense Ratio: 0.78%, or $78 annually per $10,000 invested Oil is one of this year's best-performing commodities, a theme that continued in the third quarter. The Invesco DB Oil Fund (NYSEARCA: DBO ) was one of the prior quarter's best-performing commodities ETFs, notching a gain of 10.7%. DBO "is designed for investors who want a cost-effective and convenient way to invest in commodity futures. | Invesco DB Oil Fund (DBO) Source: Shutterstock Expense Ratio: 0.78%, or $78 annually per $10,000 invested Oil is one of this year's best-performing commodities, a theme that continued in the third quarter. The Invesco DB Oil Fund (NYSEARCA: DBO ) was one of the prior quarter's best-performing commodities ETFs, notching a gain of 10.7%. DBO "is designed for investors who want a cost-effective and convenient way to invest in commodity futures. | 9cfa093b-d35b-40b9-86d6-3689fbe63337 |
709364.0 | 2018-09-25 00:00:00 UTC | Trump v Powell: 2 Speeches to Hit the Dollar | DBO | https://www.nasdaq.com/articles/trump-v-powell-2-speeches-hit-dollar-2018-09-25 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was limited to August trade and September business confidence numbers out of New Zealand.
For the Kiwi Dollar ,
The August trade deficit widened from a revised NZ$4,500m to $4,810m in August, year-on-year, and from a revised NZ$196m deficit to a NZ$1,484m deficit, month-on-month, which was far worse than a forecasted widening to a NZ$930m deficit and the largest ever monthly goods trade deficit. According to NZ Stats:
The month-on-month rise in imports to near record levels occurred at a time when exports are traditionally at their lowest.
Imports increased by NZ$675m (14%) compared with August of last year, to hit NZ$5.5bn, the 3 rd highest on record, while exports rose by just NZ$366m to reach NZ$4.1bn.
The jump in imports was attributed to a NZ$186m (+50%) rise petroleum and products imports, driven by increased imports of crude oil (up NZ$98m) and diesel (up NZ$73m), which was as a result of rising prices, volume imports down 13% year-on-year.
On the export side, meat and edible offal lead the uptick, rising by NZ$137m (+43%), with NZ exporting more beef and lamb at better prices. The export of sheep rose by NZ$83m (+55) and beef by NZ$45m (+31%).
The Kiwi Dollar moved from $0.66433 to $0.66387 upon release of the figures that came ahead of the business confidence number.
The September ANZ Business Confidence survey saw a net 38.3% of respondents expecting economic conditions to deteriorate over the next 12-months, improving from a net -50.3 in August.
Firms' perceptions of their own activity prospects rose by 4 points to a net 8% expecting an improvement.
Retail expectations dropped 11 points to -13%, while services were the most optimistic.
A net 9% of firms are expecting to reduce investment, down by 4 points, while employment intentions rose by 5 points to -1%.
Profit expectations rose by 4 points to -13%, with retail the weakest sector, down 8 points to -35%.
A net 33% of businesses expect it to be tougher to get credit.
Firm's pricing intentions rose by 3 points to +30%, while inflation expectations remained relatively steady at 2.1%.
Residential construction intentions jumped by 11 points to +24%.
The Kiwi Dollar moved from $0.66474 to $0.66701 upon release of the figures, before rising to $0.6673 at the time of writing, up 0.39%% for the session.
Elsewhere, the Japanese Yen was up 0.01% at ¥112.96 against the U.S Dollar, trade war jitters and geo-political risk supporting the Yen through the session. For the Aussie Dollar, it was an early bounce back, the Aussie Dollar up 0.30% to $0.7272 at the time of writing, supported by the spike in the Kiwi.
In the equity markets, with Trump's address to the General Assembly, tonight's FED policy decision, the roll out of FOMC economic projections, Powell's press conference and Trump press conference having some influence, the Nikkei was down 0.24%, while the Hang Seng and ASX200 managed a positive start to the day, with gains of 0.39% and 0.30% respectively.
The Day Ahead:
For the EUR , economic data is limited to unemployment numbers out of France, with the jobseekers total due out later this morning, the figures unlikely to have a material impact on the EUR as the markets look towards the UN and Trump's American First campaign.
At the time of writing, the EUR was down 0.05% to $1.1761, with trade and geo-political risk continuing to be the key drivers as the FED delivers on policy and forecasts. The EUR could also face increased pressure as the Italian government gets ready to release its budget.
For the Pound , economic data is limited to mortgage approval numbers that will unlikely have an impact on the Pound, with focus remaining on Brexit chatter, which has yet to knock the Pound as talks of a 2 nd referendum hit the news wires, British PM Theresa May's failed Salzburg mission to gain support for the Chequers Plan a test to the British PM, though there is a reality that few envy May's thankless task of leading Britain out of the EU.
At the time of writing, the Pound was down 0.08% to $1.3174 with Brexit chatter the key driver through the day.
Across the Pond , economic data scheduled for release later today is limited to August new home sales that are unlikely to have a material impact on the Dollar, as the markets focus on the FED's monetary policy decision and, more importantly, the economic projections and Powell press conference.
While a rate hike may be baked in, with a December move also largely priced in, the questions will be on whether quarterly rate hikes are to continue through next year, on how the FED forecasts economic growth and whether concerns over the ongoing trade war have heightened since the last meeting.
Interestingly, while the FED press conference may have been considered the main even of the day, President Trump will also be delivering a speech, where he is due to discuss a number of items including the UN General Assembly and quite possibly a snipe at the FED for its persistence in moving towards monetary policy normalization. It won't be the first time that the administration has come up against the FED, leaving the Dollar in the middle and it won't be the last, the FED more than capable of winning this battle if it sets a hawkish policy path for next year.
At the time of writing, the Dollar Spot Index was up 0.06% to 94.187, with Trump and Powell to provide direction later in the day.
For the Loonie , there are no material stats scheduled for release, with the 30 th September deadline on closing out NAFTA negotiations expected to be missed, raising questions on whether there will be an inclusion of Canada into any free trade agreement. With a number of deadlines having been previously set and missed and the markets becoming all too familiar with Trump's tactics, there may be optimism of an eventual resolution that props up the Loonie.
At the time of writing, the Loonie was up 0.02% to C$1.2952 against the U.S Dollar.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning was limited to August trade and September business confidence numbers out of New Zealand. For the Loonie , there are no material stats scheduled for release, with the 30 th September deadline on closing out NAFTA negotiations expected to be missed, raising questions on whether there will be an inclusion of Canada into any free trade agreement. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Futures (GC) Technical Analysis - Straddling Key Pivot at $1205.90 Natural Gas Price Fundamental Daily Forecast - Return of Milder Temperatures Could Trigger Steep Break into $2.905 Over Near-Term DASH Technical Analysis - Hits Support - 26/09/18 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning was limited to August trade and September business confidence numbers out of New Zealand. For the Kiwi Dollar , The August trade deficit widened from a revised NZ$4,500m to $4,810m in August, year-on-year, and from a revised NZ$196m deficit to a NZ$1,484m deficit, month-on-month, which was far worse than a forecasted widening to a NZ$930m deficit and the largest ever monthly goods trade deficit. Across the Pond , economic data scheduled for release later today is limited to August new home sales that are unlikely to have a material impact on the Dollar, as the markets focus on the FED's monetary policy decision and, more importantly, the economic projections and Powell press conference. | For the Kiwi Dollar , The August trade deficit widened from a revised NZ$4,500m to $4,810m in August, year-on-year, and from a revised NZ$196m deficit to a NZ$1,484m deficit, month-on-month, which was far worse than a forecasted widening to a NZ$930m deficit and the largest ever monthly goods trade deficit. Imports increased by NZ$675m (14%) compared with August of last year, to hit NZ$5.5bn, the 3 rd highest on record, while exports rose by just NZ$366m to reach NZ$4.1bn. The jump in imports was attributed to a NZ$186m (+50%) rise petroleum and products imports, driven by increased imports of crude oil (up NZ$98m) and diesel (up NZ$73m), which was as a result of rising prices, volume imports down 13% year-on-year. | A net 9% of firms are expecting to reduce investment, down by 4 points, while employment intentions rose by 5 points to -1%. The Kiwi Dollar moved from $0.66474 to $0.66701 upon release of the figures, before rising to $0.6673 at the time of writing, up 0.39%% for the session. At the time of writing, the EUR was down 0.05% to $1.1761, with trade and geo-political risk continuing to be the key drivers as the FED delivers on policy and forecasts. | 1dab431a-f1e5-482c-88c8-96f4e085b546 |
709365.0 | 2018-09-23 00:00:00 UTC | Dollar Support Kicks in as Market Risk Appetite Sinks | DBO | https://www.nasdaq.com/articles/dollar-support-kicks-market-risk-appetite-sinks-2018-09-23 | nan | nan | Earlier in the Day:
There were no material stats released through the Asian session this morning, with China and Japan on holiday, leaving the markets to consider geo-political headwinds and key events and stats scheduled for the week, along with the rollout of tariffs on $200bn worth of Chinese goods later today.
At the time of writing, the Japanese Yen was flat at ¥112.59, pinned back by a stronger U.S Dollar, with the Aussie Dollar and the Kiwi Dollar also in the red, risk aversion at the start of the week hitting the pair as trade war jitters return to the markets ahead of Trump's address to the General Assembly at the UN on Tuesday.
In the equity markets, the ASX200 was down 0.27%, with over half of the 200 listed in the red in at the start of the week, sliding mining and metals stocks doing the damage early on, an rally in crude oil prices providing little support. Things were not much better for the Hang Seng that opened down 1.07%, the shift in sentiment hitting the tech sector once more, with Tencent down 1.5% at the open, with bank stocks also seeing heavy losses early on.
The Day Ahead:
For the EUR , key stats scheduled for release are limited to August business sentiment numbers out of Germany. The Ifo Business Climate Index is forecasted to soften, with both the Business Expectations and Current Assessment numbers also forecasted to be on the softer side, which would be in line with recent stats out of Germany that have disappointed.
Outside of the numbers, ECB President Draghi is scheduled to speak this afternoon that could influence direction should any references be made to policy, Draghi having skirted the subject in speeches following the latest ECB press conference.
At the time of writing, the EUR was down 0.03% to $1.1745, with today's stats and Draghi to provide some direction, while risk sentiment will likely be the key driver through the day.
For the Pound , it's a quiet day on the data front, with stats limited to CBI Industrial Trend Order figures for September that are forecasted to be Sterling negative. While we can expect a reaction to the numbers, stats are likely to continue to be overshadowed by market sentiment towards Brexit, the British Prime Minister meeting the cabinet later today for the first time since last week's Austrian debacle.
Outside of the stats the BoE Financial Stability Report due out later this morning will also provide some direction, as the FCP identifies key risks to the global and UK economies, with the prospects of a no-deal exit from the EU likely to be a key component of the report released by the FCP. With BoE Governor Carney amongst the Committee members, it may not be pleasant reading if his last session with Cabinet ministers is anything to go by…
At the time of writing, the Pound was up 0.08% to $1.3083 with Brexit and the BoE's Financial Stability Report the key drivers for the day.
Across the Pond , there are no material stats scheduled for release out of the U.S, leaving the Dollar in the hands of market risk sentiment and noise from the Oval Office, Trump at the UN today ahead of his speech to the General Assembly tomorrow that is likely to focus on foreign policy and putting America first.
At the time of writing, the Dollar Spot Index was up 0.01% to 94.225, a lack of stats putting the Dollar firmly in the hands of the U.S President before focus shifts to FED policy ahead of Wednesday's anticipated rate hike and, of greater significance, release of the economic projections.
For the Loonie , economic data scheduled for release is limited to July wholesale sales that is forecasted to recover from June's slide. The numbers are unlikely to have a material impact on the Loonie however, with the markets likely to remain focused on NAFTA talks, Trump and Trudeau at the UN this week, which could lead to some meetings on the side lines in the interest of progress as the latest NAFTA deadline rapidly approaches.
At the time of writing, the Loonie was down 0.08% to C$1.2926 against the U.S Dollar.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In the equity markets, the ASX200 was down 0.27%, with over half of the 200 listed in the red in at the start of the week, sliding mining and metals stocks doing the damage early on, an rally in crude oil prices providing little support. While we can expect a reaction to the numbers, stats are likely to continue to be overshadowed by market sentiment towards Brexit, the British Prime Minister meeting the cabinet later today for the first time since last week's Austrian debacle. Across the Pond , there are no material stats scheduled for release out of the U.S, leaving the Dollar in the hands of market risk sentiment and noise from the Oval Office, Trump at the UN today ahead of his speech to the General Assembly tomorrow that is likely to focus on foreign policy and putting America first. | The Day Ahead: For the EUR , key stats scheduled for release are limited to August business sentiment numbers out of Germany. With BoE Governor Carney amongst the Committee members, it may not be pleasant reading if his last session with Cabinet ministers is anything to go by… At the time of writing, the Pound was up 0.08% to $1.3083 with Brexit and the BoE's Financial Stability Report the key drivers for the day. Across the Pond , there are no material stats scheduled for release out of the U.S, leaving the Dollar in the hands of market risk sentiment and noise from the Oval Office, Trump at the UN today ahead of his speech to the General Assembly tomorrow that is likely to focus on foreign policy and putting America first. | Earlier in the Day: There were no material stats released through the Asian session this morning, with China and Japan on holiday, leaving the markets to consider geo-political headwinds and key events and stats scheduled for the week, along with the rollout of tariffs on $200bn worth of Chinese goods later today. At the time of writing, the Japanese Yen was flat at ¥112.59, pinned back by a stronger U.S Dollar, with the Aussie Dollar and the Kiwi Dollar also in the red, risk aversion at the start of the week hitting the pair as trade war jitters return to the markets ahead of Trump's address to the General Assembly at the UN on Tuesday. Across the Pond , there are no material stats scheduled for release out of the U.S, leaving the Dollar in the hands of market risk sentiment and noise from the Oval Office, Trump at the UN today ahead of his speech to the General Assembly tomorrow that is likely to focus on foreign policy and putting America first. | The Day Ahead: For the EUR , key stats scheduled for release are limited to August business sentiment numbers out of Germany. At the time of writing, the EUR was down 0.03% to $1.1745, with today's stats and Draghi to provide some direction, while risk sentiment will likely be the key driver through the day. At the time of writing, the Loonie was down 0.08% to C$1.2926 against the U.S Dollar. | 042ea13c-9450-4f2d-b200-51db156de15f |
709366.0 | 2018-09-20 00:00:00 UTC | Oil ETF (DBO) Hits New 52-Week High | DBO | https://www.nasdaq.com/articles/oil-etf-dbo-hits-new-52-week-high-2018-09-20 | nan | nan | For investors seeking momentum, Invesco DB Oil Fund DBO is probably on radar now. The fund just hit a 52-week high and is up about 53.1% from its 52-week low price of $8.46/share.
But are more gains in store for this ETF? Let's take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:
DBO in Focus
The underlying DBIQ Optimum Yield Crude Oil Index Excess Return Index is a rules-based index composed of futures contracts on Light Sweet Crude Oil (WTI) and is intended to reflect the performance of crude oil. The fund charges 78 bps in fees (see all Energy ETFs here).
Why the Move?
Oil prices have been on a tear thanks to the decline in U.S. inventories and robust U.S. gasoline demand. Plus, chances of OPEC not boosting output to make up for the shrinking supplies from Iran also gave a boost to oil prices , per the source.
More Gains Ahead?
It seems that DBO might remain strong given a positive weighted alpha of 46.00 . As a result, there is definitely still some promise for investors who want to ride on this surging ETF a little further.
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PWRSH-DB OIL FD (DBO): ETF Research Reports
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For investors seeking momentum, Invesco DB Oil Fund DBO is probably on radar now. Let's take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed: DBO in Focus The underlying DBIQ Optimum Yield Crude Oil Index Excess Return Index is a rules-based index composed of futures contracts on Light Sweet Crude Oil (WTI) and is intended to reflect the performance of crude oil. It seems that DBO might remain strong given a positive weighted alpha of 46.00 . | Click to get this free report PWRSH-DB OIL FD (DBO): ETF Research Reports To read this article on Zacks.com click here. For investors seeking momentum, Invesco DB Oil Fund DBO is probably on radar now. Let's take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed: DBO in Focus The underlying DBIQ Optimum Yield Crude Oil Index Excess Return Index is a rules-based index composed of futures contracts on Light Sweet Crude Oil (WTI) and is intended to reflect the performance of crude oil. | Let's take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed: DBO in Focus The underlying DBIQ Optimum Yield Crude Oil Index Excess Return Index is a rules-based index composed of futures contracts on Light Sweet Crude Oil (WTI) and is intended to reflect the performance of crude oil. Click to get this free report PWRSH-DB OIL FD (DBO): ETF Research Reports To read this article on Zacks.com click here. For investors seeking momentum, Invesco DB Oil Fund DBO is probably on radar now. | Click to get this free report PWRSH-DB OIL FD (DBO): ETF Research Reports To read this article on Zacks.com click here. For investors seeking momentum, Invesco DB Oil Fund DBO is probably on radar now. Let's take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed: DBO in Focus The underlying DBIQ Optimum Yield Crude Oil Index Excess Return Index is a rules-based index composed of futures contracts on Light Sweet Crude Oil (WTI) and is intended to reflect the performance of crude oil. | 36f71f06-edb9-413b-8882-9a3690438f6f |
709367.0 | 2018-09-13 00:00:00 UTC | Australian Dollar Jumps on Sharp Rise in Employment | DBO | https://www.nasdaq.com/articles/australian-dollar-jumps-sharp-rise-employment-2018-09-13 | nan | nan | Economic reports and the Fed were highlighted on Wednesday with volatility spread across the board from commodities to stocks to financials. The U.S. session featured reports on producer inflation and crude oil inventories as well as a speech from a Fed official and the central bank take on U.S. manufacturing. Early Thursday, investors are reacting to stronger-than-expected Australian employment data.
U.S. Economic Reports
According to the Labor Department, U.S. producer prices unexpectedly fell in August with the weakness led by declines in the prices of food and a range of trade services. The decline could have been worse if not for an increase in the cost of energy products.
The Producer Price Index (PPI) for final demand slipped 0.1 percent last month after being unchanged in July. August's decline was the first in 1-1/2 years. Economists were looking for an increase of 0.2 percent in August.
In the 12 months through August, the PPI rose 2.8 percent, down from July's 3.3 percent increase. Economists had forecast a 3.2 percent year-on-year reading.
Core PPI edged up 0.1 percent in August. In the 12 months through August, the core PPI increased 2.9 percent after rising 2.8 percent in July.
U.S. Energy Information Administration Inventories Report
Crude oil prices rose after an EIA report showed U.S. crude inventories fell 5.3 million barrels in the week to September 7 to 396.2 million barrels, the lowest since February 2015 and about 3 percent below the five-year average for this time of year.
Additionally, U.S. crude oil production fell by 100,000 bpd, to 10.9 million bpd, as the industry faces pipeline capacity constraints.
Gasoline stocks rose 1.3 million barrels, while distillate stockpiles, climbed by 6.2 million barrels, the EIA data showed.
Fed Beige Book
According to the Federal Reserve's latest Beige Book released late Wednesday, three of the Fed's 12 districts - St. Louis, Philadelphia and Kansas City - reported weaker growth in August. Additionally, the central bank said that while the overall U.S. economy expanded at a "moderate pace," trade concerns and a lack of workers delayed projects. There were also "some signs of deliberation" in prices of final goods and services.
Fed Governor Lael Brainard
Fed Governor Lael Brainard said in a speech on Wednesday that the Federal Reserve likely will continue gradual interest rate increases but will accelerate the pace if signs that financial imbalances continue to build.
"While the information available to us today suggests that a gradual path is appropriate, we would not hesitate to act decisively if circumstances were to change," Brainard said, according to prepared remarks. "If, for example, underlying inflation were to move abruptly and unexpectedly higher, it might be appropriate to depart from the gradual path."
Australian Employment Report
Australia's employment rose a strong 44.0K in August, more than reversing the modest 4.3K drop in July. Over the past three months, employment has risen an average of 33K per month. The strength was due to a sharp rise in full-time jobs (33.7K), while part-time jobs also rose (10.2K). The Unemployment Rate was stable at 5.3 percent, while the participation rate rose 65.7 percent.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The U.S. session featured reports on producer inflation and crude oil inventories as well as a speech from a Fed official and the central bank take on U.S. manufacturing. Additionally, the central bank said that while the overall U.S. economy expanded at a "moderate pace," trade concerns and a lack of workers delayed projects. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Forex Technical Analysis - September 13, 2018 Forecast Price of Gold Fundamental Daily Forecast - Strengthens Over $1215.10, Weakens Under $1205.90 Australian Dollar Jumps on Sharp Rise in Employment The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | U.S. Energy Information Administration Inventories Report Crude oil prices rose after an EIA report showed U.S. crude inventories fell 5.3 million barrels in the week to September 7 to 396.2 million barrels, the lowest since February 2015 and about 3 percent below the five-year average for this time of year. Additionally, U.S. crude oil production fell by 100,000 bpd, to 10.9 million bpd, as the industry faces pipeline capacity constraints. Fed Governor Lael Brainard Fed Governor Lael Brainard said in a speech on Wednesday that the Federal Reserve likely will continue gradual interest rate increases but will accelerate the pace if signs that financial imbalances continue to build. | In the 12 months through August, the PPI rose 2.8 percent, down from July's 3.3 percent increase. In the 12 months through August, the core PPI increased 2.9 percent after rising 2.8 percent in July. U.S. Energy Information Administration Inventories Report Crude oil prices rose after an EIA report showed U.S. crude inventories fell 5.3 million barrels in the week to September 7 to 396.2 million barrels, the lowest since February 2015 and about 3 percent below the five-year average for this time of year. | Economists were looking for an increase of 0.2 percent in August. In the 12 months through August, the PPI rose 2.8 percent, down from July's 3.3 percent increase. U.S. Energy Information Administration Inventories Report Crude oil prices rose after an EIA report showed U.S. crude inventories fell 5.3 million barrels in the week to September 7 to 396.2 million barrels, the lowest since February 2015 and about 3 percent below the five-year average for this time of year. | fb47ec26-41fc-41db-9b94-860cd76e428a |
709368.0 | 2018-09-04 00:00:00 UTC | Crude Oil Weaker After Hurricane Impact Downplayed, Aussie Rises on Strong GDP Growth | DBO | https://www.nasdaq.com/articles/crude-oil-weaker-after-hurricane-impact-downplayed-aussie-rises-strong-gdp-growth-2018-09 | nan | nan | Asia stock markets are trading lower early Wednesday, following the lead set by Wall Street on Tuesday. The catalysts behind the selling pressure are worries over a trade dispute escalation and another sell-off in emerging markets.
At 0316 GMT, Japan's NIKKEI 225 Index is trading 22631.17, down 65.73 or -0.29%. Australia's S&P/ASX 200 Index is at 6240.30, down 52.80 or -0.84%. China's Shanghai Index is trading 2733.94, down 16.64 or -0.60%.
Australian Dollar
Late Tuesday, Australia's top central banker played down recent increases in mortgage rates by domestic lenders but highlighted global risks to growth including a possible escalation of trade disputes and economic strains in emerging markets.
Governor Philip Lowe said in a speech in Perth that the Reserve Bank of Australia ( RBA ) was also watching out for a material lift in U.S. inflation which could force the Federal Reserve to tighten policy at a faster pace.
Lowe also signaled the next move was going to be an increase, albeit not for some time.
At 0327 GMT, the AUD/USD is trading a little better at .7195, up 0.0018 or +0.25% after Australia's economic growth jumped to 3.4 percent in the June quarter.
The figure was up from the 3.1 percent year-on-year GDP growth in the March quarter and above the 3 percent the Reserve Bank of Australia had forecast.
It is also the fastest annual rate of growth since September 2012 during the height of the past-GFC mining boom.
In seasonally adjusted terms, the economy grew by a stronger-than-expected 0.9 percent over the quarter, which was only marginally down on the strong and upwardly revised 1.1 percent growth in the first three months of the year.
Crude Oil
U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are trading slightly lower early Wednesday after yesterday's roller-coaster ride that drove prices to their highest levels of the year.
Oil prices jumped early Tuesday as traders took precautions ahead of potential supply disruptions due to a hurricane forecast for the upper U.S. Gulf Coast. According to reports two Gulf of Mexico oil platforms were evacuated in preparation for Tropical Storm Gordon. The storm was expected to become a hurricane before it makes landfall as a Category 1 hurricane near the Mississippi-Alabama border.
Prices moved lower later in the session due to technically overbought conditions. Some analysts also said that speculative buyers were way ahead of the actual event and that the direction of the storm is still unknown as well as what infrastructure, if any, will be impacted.
Also putting pressure on crude oil was a report from Genscape that said Cushing, Oklahoma, crude inventories rose nearly 754,000 barrels from August 24 to August 31.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Australian Dollar Late Tuesday, Australia's top central banker played down recent increases in mortgage rates by domestic lenders but highlighted global risks to growth including a possible escalation of trade disputes and economic strains in emerging markets. Oil prices jumped early Tuesday as traders took precautions ahead of potential supply disruptions due to a hurricane forecast for the upper U.S. Gulf Coast. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Daily Price Forecast - EUR/USD Moves Range Bound Amid Strong US Dollar Sentiment Owing to Trade War Woes GBP/USD Price Forecast - British pound continues falling towards support Forex Daily Outlook - September 5, 2018 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Asia stock markets are trading lower early Wednesday, following the lead set by Wall Street on Tuesday. Oil prices jumped early Tuesday as traders took precautions ahead of potential supply disruptions due to a hurricane forecast for the upper U.S. Gulf Coast. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Daily Price Forecast - EUR/USD Moves Range Bound Amid Strong US Dollar Sentiment Owing to Trade War Woes GBP/USD Price Forecast - British pound continues falling towards support Forex Daily Outlook - September 5, 2018 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Australian Dollar Late Tuesday, Australia's top central banker played down recent increases in mortgage rates by domestic lenders but highlighted global risks to growth including a possible escalation of trade disputes and economic strains in emerging markets. Crude Oil U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are trading slightly lower early Wednesday after yesterday's roller-coaster ride that drove prices to their highest levels of the year. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Daily Price Forecast - EUR/USD Moves Range Bound Amid Strong US Dollar Sentiment Owing to Trade War Woes GBP/USD Price Forecast - British pound continues falling towards support Forex Daily Outlook - September 5, 2018 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | At 0327 GMT, the AUD/USD is trading a little better at .7195, up 0.0018 or +0.25% after Australia's economic growth jumped to 3.4 percent in the June quarter. Crude Oil U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are trading slightly lower early Wednesday after yesterday's roller-coaster ride that drove prices to their highest levels of the year. Oil prices jumped early Tuesday as traders took precautions ahead of potential supply disruptions due to a hurricane forecast for the upper U.S. Gulf Coast. | 824f9233-846d-48e9-a5f6-21289f0fc557 |
709369.0 | 2018-09-04 00:00:00 UTC | Global Stocks Mixed Amid Concerns Over US-Canada Trade Relations, Emerging Market Turmoil | DBO | https://www.nasdaq.com/articles/global-stocks-mixed-amid-concerns-over-us-canada-trade-relations-emerging-market-turmoil | nan | nan | The major Asian stock indexes were trading mixed on Tuesday as investors waited for guidance from U.S. equity markets, which were closed on Monday for the Labor Day holiday. Gains were limited by concerns over U.S.-global trade disputes and faltering emerging market worries.
At 0531 GMT, Japan's NIKKEI 225 was trading 22660.13, down 42.49 or -0.19%. Australia's S&P/ASX 200 Index was at 6282.80, down 28.10 or -0.45% and China's Shanghai Index was at 2715.73, down 5.01 or -0.18%.
At the start of the week, stock market investors will be tuned into the resumption of trade negotiations between the United States and Canada. Early last week, global equity markets were supported by the announcement of a new trade deal between the U.S. and Mexico.
Traders are also watching developments in the emerging markets which could threaten the stability of the Asian continent after China released a disappointing Caixin/Markit Purchasing Manager's Index (PMI). It came in at 50.6, its lowest level since June 2017, as export sales fell for a fifth consecutive month. A move under 50.0 represents a contraction.
Additionally, on Monday, Indonesia's Rupiah fell to its weakest level in more than 20 years and the country's central bank reportedly said it would intervene in foreign exchange and bond markets.
Forex
The U.S. Dollar is trading steady-to-better against a basket of currencies early Tuesday, posting small gains versus the Euro and Japanese Yen , while losing a little ground against the Australian and New Zealand Dollars .
Safe-haven demand is helping to underpin the dollar against emerging market currencies including the Argentine Peso, Turkish Lira, South African Rand, Brazilian Real, and Indian Rupee.
In Australia, the Reserve Bank kept official interest rates unchanged for a record 25 th consecutive month. It made no changes to the key final paragraph of the statement, noting "further progress in reducing unemployment and having inflation return to target is expected, although this progress is likely to be gradual".
Crude Oil
U.S. crude oil prices are trading a bit firmer early Tuesday after two Gulf of Mexico oil platforms were evacuated in preparation for the arrival of newly formed Hurricane Gordon. The weather system was a tropical storm as it passed the west coast of Florida late Monday afternoon. However, it quickly became a hurricane as wind speed picked up as the storm passed over the warm waters of the Gulf of Mexico. It now appears to be headed along a path toward refineries in Louisiana, prompting the evacuation of the oil platforms.
This article was originally posted on FX Empire
More From FXEMPIRE:
Global Stocks Mixed Amid Concerns Over US-Canada Trade Relations, Emerging Market Turmoil
USD/CNY - Trump Era Wakes Up a Sleeping Giant
More Pain for Emerging Markets?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The major Asian stock indexes were trading mixed on Tuesday as investors waited for guidance from U.S. equity markets, which were closed on Monday for the Labor Day holiday. Additionally, on Monday, Indonesia's Rupiah fell to its weakest level in more than 20 years and the country's central bank reportedly said it would intervene in foreign exchange and bond markets. Safe-haven demand is helping to underpin the dollar against emerging market currencies including the Argentine Peso, Turkish Lira, South African Rand, Brazilian Real, and Indian Rupee. | The major Asian stock indexes were trading mixed on Tuesday as investors waited for guidance from U.S. equity markets, which were closed on Monday for the Labor Day holiday. Crude Oil U.S. crude oil prices are trading a bit firmer early Tuesday after two Gulf of Mexico oil platforms were evacuated in preparation for the arrival of newly formed Hurricane Gordon. This article was originally posted on FX Empire More From FXEMPIRE: Global Stocks Mixed Amid Concerns Over US-Canada Trade Relations, Emerging Market Turmoil USD/CNY - Trump Era Wakes Up a Sleeping Giant More Pain for Emerging Markets? | The major Asian stock indexes were trading mixed on Tuesday as investors waited for guidance from U.S. equity markets, which were closed on Monday for the Labor Day holiday. Crude Oil U.S. crude oil prices are trading a bit firmer early Tuesday after two Gulf of Mexico oil platforms were evacuated in preparation for the arrival of newly formed Hurricane Gordon. This article was originally posted on FX Empire More From FXEMPIRE: Global Stocks Mixed Amid Concerns Over US-Canada Trade Relations, Emerging Market Turmoil USD/CNY - Trump Era Wakes Up a Sleeping Giant More Pain for Emerging Markets? | The major Asian stock indexes were trading mixed on Tuesday as investors waited for guidance from U.S. equity markets, which were closed on Monday for the Labor Day holiday. It came in at 50.6, its lowest level since June 2017, as export sales fell for a fifth consecutive month. Crude Oil U.S. crude oil prices are trading a bit firmer early Tuesday after two Gulf of Mexico oil platforms were evacuated in preparation for the arrival of newly formed Hurricane Gordon. | a3604443-84a1-4aca-bf25-ca7bd12109a7 |
709370.0 | 2018-08-28 00:00:00 UTC | DBO, GTO: Big ETF Outflows | DBO | https://www.nasdaq.com/articles/dbo-gto-big-etf-outflows-2018-08-28 | nan | nan | Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the Invesco DB Oil Fund, where 6,600,000 units were destroyed, or a 17.6% decrease week over week. Among the largest underlying components of DBO, in morning trading today Invesco Treasury Collateral ETF is trading flat, and Meta Financial Group is lower by about 0.5%.
And on a percentage change basis, the ETF with the biggest outflow was the Invesco Total Return Bond ETF, which lost 200,000 of its units, representing a 20.0% decline in outstanding units compared to the week prior.
VIDEO: DBO, GTO: Big ETF Outflows
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of DBO, in morning trading today Invesco Treasury Collateral ETF is trading flat, and Meta Financial Group is lower by about 0.5%. VIDEO: DBO, GTO: Big ETF Outflows The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. And on a percentage change basis, the ETF with the biggest outflow was the Invesco Total Return Bond ETF, which lost 200,000 of its units, representing a 20.0% decline in outstanding units compared to the week prior. | VIDEO: DBO, GTO: Big ETF Outflows The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Among the largest underlying components of DBO, in morning trading today Invesco Treasury Collateral ETF is trading flat, and Meta Financial Group is lower by about 0.5%. Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the Invesco DB Oil Fund, where 6,600,000 units were destroyed, or a 17.6% decrease week over week. | VIDEO: DBO, GTO: Big ETF Outflows The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Among the largest underlying components of DBO, in morning trading today Invesco Treasury Collateral ETF is trading flat, and Meta Financial Group is lower by about 0.5%. Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the Invesco DB Oil Fund, where 6,600,000 units were destroyed, or a 17.6% decrease week over week. | Among the largest underlying components of DBO, in morning trading today Invesco Treasury Collateral ETF is trading flat, and Meta Financial Group is lower by about 0.5%. VIDEO: DBO, GTO: Big ETF Outflows The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the Invesco DB Oil Fund, where 6,600,000 units were destroyed, or a 17.6% decrease week over week. | 4fd9d7d1-3440-4f97-a6b1-2d235e2a4c4d |
709371.0 | 2018-08-28 00:00:00 UTC | Is Invesco DB Oil Fund (DBO) a Hot ETF Right Now? | DBO | https://www.nasdaq.com/articles/invesco-db-oil-fund-dbo-hot-etf-right-now-2018-08-28 | nan | nan | Making its debut on 01/05/2007, smart beta exchange traded fund Invesco DB Oil Fund (DBO) provides investors broad exposure to the Energy ETFs category of the market.
What Are Smart Beta ETFs?
Market cap weighted indexes were created to reflect the market, or a specific segment of the market, and the ETF industry has traditionally been dominated by products based on this strategy.
Market cap weighted indexes work great for investors who believe in market efficiency. They provide a low-cost, convenient and transparent way of replicating market returns.
There are some investors, though, who think it's possible to beat the market with great stock selection; this group likely invests in another class of funds known as smart beta, which track non-cap weighted strategies.
By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.
This area offers many different investment choices, such as simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies; however, not all of these strategies can deliver superior results.
Fund Sponsor & Index
The fund is sponsored by Invesco. It has amassed assets over $387.19 M, making it one of the larger ETFs in the Energy ETFs. This particular fund seeks to match the performance of the DBIQ Optimum Yield Crude Oil Index Excess Return before fees and expenses.
The DBIQ Optimum Yield Crude Oil Index Excess Return Index is a rules-based index composed of futures contracts on Light Sweet Crude Oil (WTI) and is intended to reflect the performance of crude oil.
Cost & Other Expenses
Expense ratios are an important factor in the return of an ETF and in the long-term, cheaper funds can significantly outperform their more expensive cousins, other things remaining the same.
Annual operating expenses for this ETF are 0.78%, making it one of the more expensive products in the space.
DBO's 12-month trailing dividend yield is 0%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund's holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
The top 10 holdings account for about 99.97% of total assets under management.
Performance and Risk
The fund's year-to-date return has added about 23.05%, and is up roughly 51.76% in the last one year (as of 08/28/2018). DBO has traded between $8.03 and $12.64 in the past 52-week period.
The ETF has a beta of 0.77 and standard deviation of 30.34% for the trailing three-year period, making it a high choice in the space. With about 1 holdings, it has more concentrated exposure than peers.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center .
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PWRSH-DB OIL FD (DBO): ETF Research Reports
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Making its debut on 01/05/2007, smart beta exchange traded fund Invesco DB Oil Fund (DBO) provides investors broad exposure to the Energy ETFs category of the market. DBO's 12-month trailing dividend yield is 0%. DBO has traded between $8.03 and $12.64 in the past 52-week period. | Making its debut on 01/05/2007, smart beta exchange traded fund Invesco DB Oil Fund (DBO) provides investors broad exposure to the Energy ETFs category of the market. DBO's 12-month trailing dividend yield is 0%. DBO has traded between $8.03 and $12.64 in the past 52-week period. | Making its debut on 01/05/2007, smart beta exchange traded fund Invesco DB Oil Fund (DBO) provides investors broad exposure to the Energy ETFs category of the market. DBO's 12-month trailing dividend yield is 0%. DBO has traded between $8.03 and $12.64 in the past 52-week period. | Making its debut on 01/05/2007, smart beta exchange traded fund Invesco DB Oil Fund (DBO) provides investors broad exposure to the Energy ETFs category of the market. DBO's 12-month trailing dividend yield is 0%. DBO has traded between $8.03 and $12.64 in the past 52-week period. | 4076430f-b25b-4698-a6b7-50afd8c21ede |
709372.0 | 2018-08-13 00:00:00 UTC | The Biggest Potential Threat To The World Economy (Podcast) | DBO | https://www.nasdaq.com/articles/biggest-potential-threat-world-economy-podcast-2018-08-13 | nan | nan | By SA For FAs :
Iranian naval exercises in the Strait of Hormuz are signaling Tehran's threat of a blockade of the Strait of Hormuz, through which one-third of the world's oil passes. Iran has made this threat before and has not carried it out, but, today, the regime's back may be against the wall because its citizens have lost their fear of their rulers and the U.S. is prosecuting an economic war against Tehran via newly applied sanctions. It seems fair to speculate that a prolonged closure could deal a harsh and enduring setback to the global economy. While the odds may not favor such a move, this brief podcast ( 3:51 ) suggests it is important that investors understand this risk.
See also Japan's GDP: In The Sweet-Spot on seekingalpha.com
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Iran has made this threat before and has not carried it out, but, today, the regime's back may be against the wall because its citizens have lost their fear of their rulers and the U.S. is prosecuting an economic war against Tehran via newly applied sanctions. It seems fair to speculate that a prolonged closure could deal a harsh and enduring setback to the global economy. While the odds may not favor such a move, this brief podcast ( 3:51 ) suggests it is important that investors understand this risk. | By SA For FAs : Iranian naval exercises in the Strait of Hormuz are signaling Tehran's threat of a blockade of the Strait of Hormuz, through which one-third of the world's oil passes. See also Japan's GDP: In The Sweet-Spot on seekingalpha.com The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By SA For FAs : Iranian naval exercises in the Strait of Hormuz are signaling Tehran's threat of a blockade of the Strait of Hormuz, through which one-third of the world's oil passes. It seems fair to speculate that a prolonged closure could deal a harsh and enduring setback to the global economy. See also Japan's GDP: In The Sweet-Spot on seekingalpha.com The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By SA For FAs : Iranian naval exercises in the Strait of Hormuz are signaling Tehran's threat of a blockade of the Strait of Hormuz, through which one-third of the world's oil passes. Iran has made this threat before and has not carried it out, but, today, the regime's back may be against the wall because its citizens have lost their fear of their rulers and the U.S. is prosecuting an economic war against Tehran via newly applied sanctions. It seems fair to speculate that a prolonged closure could deal a harsh and enduring setback to the global economy. | f78e9046-47c9-4386-84e0-302b415c9083 |
709373.0 | 2018-08-07 00:00:00 UTC | Oil ETFs: What You Need to Know | DBO | https://www.nasdaq.com/articles/oil-etfs-what-you-need-know-2018-08-07 | nan | nan | Oil prices have been on a tear this year. WTI crude ETF United States OilUSO and Brent crude ETF United States Brent OilBNO are up 18.6% and 14.1% this year, respectively. A host of favorable factors related to the news of supply disruption are adding strength to oil price, making the case for oil ETFs appealing.
The OPEC members cut a deal at the end of the first half of this year to boost output by a lower-than-expected margin. Saudi Arabia said the renewed deal will result in a nominal output rise of around 1 million barrels per day (bpd). Now it remains to be seen how far they conform to their deal and rebalance the oil market ahead (read: What Does the OPEC Agreement Mean for Energy ETFs? ).
Apart from this, two contrasting developments have come up lately, one is United States' sanctions against Iran and the other is a flare-up in trade tensions. Both factors should regulate the future oil market. Let's delve a little deeper?
Re-imposition of Iran Sanctions to Boost Price
The latest U.S. sanctions on Iranian crude could sent oil pricesabove $90 a barrel in the fourth quarter, per an analyst, quoted on CNBC. As of the now, the sanctions are on trading in cars, and metals and minerals as well as buying U.S. and European aircraft. And the second part of sanctions that prohibits imports of Iranian energy will take place in November.
A significant output crunch is expected ahead, which can boost oil price. Though many thought that China - Iran's single largest oil customer - will raise crude oil imports from Iran, China reportedly agreed not to boost the import quota (read: Is $100-a-Barrel Oil Possible? ETFs in Focus ).
Trade War to Keep Prices Low
The heightening U.S.-Sino trade war is keeping hedge funds and other money managers from taking new positions in the WTI and Brent benchmarks, with bets falling to a two-year low .
The United States and China first targeted $50 billion worth of goods for import tariffs, out of which tariffs of $34 billion of goods were enacted on Jul 6. Now, the Trump administration is considering a hike in tariffs from 10% to 25% on another $200 billion worth of Chinese goods. In retaliation, China is threatening to impose tariff on $60 billion worth of American goods (read: 5 ETF Ways to Bet on China's New Tariff Threats ).
The escalation of the trade spat sparked off concerns about the likely slowdown of global growth. The International Monetary Fund (IMF) expects global growth to slow down by 2020 as " major economies are flirting with trade war ." This could derail the economies from their reform agenda. Also, with several developed economies lately showing signs of weakness, investors should be wary of consumption growth in the oil patch.
What Lies Ahead?
Oil is stuck between two opposing forces and investors should keep a close eye on the commodity. Investors should note thatOPEC and Russia could boost their production in the coming days if Iranian output falls. If this happens, no supply constraint will be felt in the oil patch and oil price may slide.
ETFs in Focus
This has compelled many investors to look into the oil commodity world and these ETFs.
United States Brent Oil Fund BNO
United States Oil Fund USO
Invesco DB Oil Fund DBO
US Commodity Funds United States 12 Month Oil USL
ETRACS S&P GSCI Crude Oil Total Return Index ETN OILX
We highlight a few regular energy ETFs that should be watched closely.
Invesco S&P SmallCap Energy ETF PSCE)
VanEck Vectors Unconventional Oil & Gas ETF FRAK
SPDR S&P Oil & Gas Exploration & Production ETF XOP
John Hancock Multifactor Energy ETF JHME
iShares US Oil & Gas Exploration & Production ETF IEO
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US-OIL FUND LP (USO): ETF Research Reports
PWRSH-DB OIL FD (DBO): ETF Research Reports
US-12 MONTH OIL (USL): ETF Research Reports
US BRENT OIL FD (BNO): ETF Research Reports
ISHARS-US O&G (IEO): ETF Research Reports
SPDR-SP O&G EXP (XOP): ETF Research Reports
VANECK-UNC O&G (FRAK): ETF Research Reports
JH-M-F ENERGY (JHME): ETF Research Reports
R-TRC GSCI COTR (OILX): ETF Research Reports
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | United States Brent Oil Fund BNO United States Oil Fund USO Invesco DB Oil Fund DBO US Commodity Funds United States 12 Month Oil USL ETRACS S&P GSCI Crude Oil Total Return Index ETN OILX We highlight a few regular energy ETFs that should be watched closely. Click to get this free report US-OIL FUND LP (USO): ETF Research Reports PWRSH-DB OIL FD (DBO): ETF Research Reports US-12 MONTH OIL (USL): ETF Research Reports US BRENT OIL FD (BNO): ETF Research Reports ISHARS-US O&G (IEO): ETF Research Reports SPDR-SP O&G EXP (XOP): ETF Research Reports VANECK-UNC O&G (FRAK): ETF Research Reports JH-M-F ENERGY (JHME): ETF Research Reports R-TRC GSCI COTR (OILX): ETF Research Reports To read this article on Zacks.com click here. Saudi Arabia said the renewed deal will result in a nominal output rise of around 1 million barrels per day (bpd). | United States Brent Oil Fund BNO United States Oil Fund USO Invesco DB Oil Fund DBO US Commodity Funds United States 12 Month Oil USL ETRACS S&P GSCI Crude Oil Total Return Index ETN OILX We highlight a few regular energy ETFs that should be watched closely. Click to get this free report US-OIL FUND LP (USO): ETF Research Reports PWRSH-DB OIL FD (DBO): ETF Research Reports US-12 MONTH OIL (USL): ETF Research Reports US BRENT OIL FD (BNO): ETF Research Reports ISHARS-US O&G (IEO): ETF Research Reports SPDR-SP O&G EXP (XOP): ETF Research Reports VANECK-UNC O&G (FRAK): ETF Research Reports JH-M-F ENERGY (JHME): ETF Research Reports R-TRC GSCI COTR (OILX): ETF Research Reports To read this article on Zacks.com click here. Invesco S&P SmallCap Energy ETF PSCE) VanEck Vectors Unconventional Oil & Gas ETF FRAK SPDR S&P Oil & Gas Exploration & Production ETF XOP John Hancock Multifactor Energy ETF JHME iShares US Oil & Gas Exploration & Production ETF IEO Want key ETF info delivered straight to your inbox? | United States Brent Oil Fund BNO United States Oil Fund USO Invesco DB Oil Fund DBO US Commodity Funds United States 12 Month Oil USL ETRACS S&P GSCI Crude Oil Total Return Index ETN OILX We highlight a few regular energy ETFs that should be watched closely. Click to get this free report US-OIL FUND LP (USO): ETF Research Reports PWRSH-DB OIL FD (DBO): ETF Research Reports US-12 MONTH OIL (USL): ETF Research Reports US BRENT OIL FD (BNO): ETF Research Reports ISHARS-US O&G (IEO): ETF Research Reports SPDR-SP O&G EXP (XOP): ETF Research Reports VANECK-UNC O&G (FRAK): ETF Research Reports JH-M-F ENERGY (JHME): ETF Research Reports R-TRC GSCI COTR (OILX): ETF Research Reports To read this article on Zacks.com click here. Invesco S&P SmallCap Energy ETF PSCE) VanEck Vectors Unconventional Oil & Gas ETF FRAK SPDR S&P Oil & Gas Exploration & Production ETF XOP John Hancock Multifactor Energy ETF JHME iShares US Oil & Gas Exploration & Production ETF IEO Want key ETF info delivered straight to your inbox? | United States Brent Oil Fund BNO United States Oil Fund USO Invesco DB Oil Fund DBO US Commodity Funds United States 12 Month Oil USL ETRACS S&P GSCI Crude Oil Total Return Index ETN OILX We highlight a few regular energy ETFs that should be watched closely. Click to get this free report US-OIL FUND LP (USO): ETF Research Reports PWRSH-DB OIL FD (DBO): ETF Research Reports US-12 MONTH OIL (USL): ETF Research Reports US BRENT OIL FD (BNO): ETF Research Reports ISHARS-US O&G (IEO): ETF Research Reports SPDR-SP O&G EXP (XOP): ETF Research Reports VANECK-UNC O&G (FRAK): ETF Research Reports JH-M-F ENERGY (JHME): ETF Research Reports R-TRC GSCI COTR (OILX): ETF Research Reports To read this article on Zacks.com click here. A significant output crunch is expected ahead, which can boost oil price. | 0dc85b52-24f9-43b7-b99e-115dc41ef0df |
709374.0 | 2018-08-03 00:00:00 UTC | Is Invesco DB Oil Fund (DBO) a Hot ETF Right Now? | DBO | https://www.nasdaq.com/articles/is-invesco-db-oil-fund-dbo-a-hot-etf-right-now-2018-08-03 | nan | nan | Making its debut on 01/05/2007, smart beta exchange traded fund Invesco DB Oil Fund (DBO) provides investors broad exposure to the Energy ETFs category of the market.
What Are Smart Beta ETFs?
Market cap weighted indexes were created to reflect the market, or a specific segment of the market, and the ETF industry has traditionally been dominated by products based on this strategy.
A good option for investors who believe in market efficiency, market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns.
There are some investors, though, who think it's possible to beat the market with great stock selection; this group likely invests in another class of funds known as smart beta, which track non-cap weighted strategies.
These indexes attempt to select stocks that have better chances of risk-return performance, based on certain fundamental characteristics or a combination of such characteristics.
The smart beta space gives investors many different choices, from equal-weighting, one of the simplest strategies, to more complicated ones like fundamental and volatility/momentum based weighting. However, not all of these methodologies have been able to deliver remarkable returns.
Fund Sponsor & Index
The fund is sponsored by Invesco. It has amassed assets over $457.59 M, making it one of the larger ETFs in the Energy ETFs. DBO, before fees and expenses, seeks to match the performance of the DBIQ Optimum Yield Crude Oil Index Excess Return.
The DBIQ Optimum Yield Crude Oil Index Excess Return Index is a rules-based index composed of futures contracts on Light Sweet Crude Oil (WTI) and is intended to reflect the performance of crude oil.
Cost & Other Expenses
Expense ratios are an important factor in the return of an ETF and in the long-term, cheaper funds can significantly outperform their more expensive cousins, other things remaining the same.
With on par with most peer products in the space, this ETF has annual operating expenses of 0.75%.
The fund has a 12-month trailing dividend yield of 0%.
Sector Exposure and Top Holdings
ETFs offer diversified exposure and thus minimize single stock risk, but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.
Its top 10 holdings account for approximately 99.92% of DBO's total assets under management.
Performance and Risk
The fund's year-to-date return has added roughly 19.90%, and is up about 44.19% in the last one year (as of 08/03/2018). DBO has traded between $8.03 and $12.64 in the past 52-week period.
The fund has a beta of 0.77 and standard deviation of 30.43% for the trailing three-year period, which makes DBO a high choice in this particular space. With about 1 holdings, it has more concentrated exposure than peers.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center .
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
PWRSH-DB OIL FD (DBO): ETF Research Reports
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | DBO, before fees and expenses, seeks to match the performance of the DBIQ Optimum Yield Crude Oil Index Excess Return. Making its debut on 01/05/2007, smart beta exchange traded fund Invesco DB Oil Fund (DBO) provides investors broad exposure to the Energy ETFs category of the market. Its top 10 holdings account for approximately 99.92% of DBO's total assets under management. | Making its debut on 01/05/2007, smart beta exchange traded fund Invesco DB Oil Fund (DBO) provides investors broad exposure to the Energy ETFs category of the market. DBO, before fees and expenses, seeks to match the performance of the DBIQ Optimum Yield Crude Oil Index Excess Return. Its top 10 holdings account for approximately 99.92% of DBO's total assets under management. | Making its debut on 01/05/2007, smart beta exchange traded fund Invesco DB Oil Fund (DBO) provides investors broad exposure to the Energy ETFs category of the market. DBO, before fees and expenses, seeks to match the performance of the DBIQ Optimum Yield Crude Oil Index Excess Return. Its top 10 holdings account for approximately 99.92% of DBO's total assets under management. | Making its debut on 01/05/2007, smart beta exchange traded fund Invesco DB Oil Fund (DBO) provides investors broad exposure to the Energy ETFs category of the market. DBO, before fees and expenses, seeks to match the performance of the DBIQ Optimum Yield Crude Oil Index Excess Return. Its top 10 holdings account for approximately 99.92% of DBO's total assets under management. | c40b9275-1ba0-4ffd-97fc-93d0fe8173a0 |
709375.0 | 2018-07-27 00:00:00 UTC | It’s Another Dollar Day with 2nd Quarter Growth in Focus | DBO | https://www.nasdaq.com/articles/its-another-dollar-day-2nd-quarter-growth-focus-2018-07-27 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning included July core inflation figures out of Japan and 2 nd quarter wholesale inflation numbers out of Australia.
For the Japanese Yen, Tokyo core CPI rose by 0.8% year-on-year in July, which was better than a forecasted 0.7%, with inflation picking up from June's 0.7%, though the numbers will still leave the BoJ struggling, the 0.8% number sitting well below the BoJ's target, with inflation showing very little sign of a shift to give the BoJ an opportunity to move on policy.
The Japanese Yen moved from ¥111.218 to ¥111.159 against the Dollar upon release of the figures, before rising to ¥110.98 at the time of writing, a gain of 0.22% for the session.
For the Aussie Dollar , based on figures released by the ABS, final demand prices rose by 1.5% in the 2 nd quarter, year-on-year, the annual rate of wholesale price inflation easing from a 1 st quarter 1.7%. Month-on-month, final demand prices rise by 0.3%, coming up short of a forecasted 0.4% rise and a 1 st quarter 0.5% increase.
The month-on-month increase was attributed to prices received for heavy and civil engineering construction (+1.5%); building construction (+1.2%) and petroleum refining and petroleum fuel manufacturing (+11.9%).
Offsetting the upside were falls in prices received for other agriculture (-2.9%); fishing (-18.9%) and professional and scientific equipment manufacturing (-2.3%).
The Aussie Dollar moved from $0.73848 to $0.73814 upon release of the figures, before rising to $0.7388, a gain of 0.15% for the morning. For the Kiwi Dollar, a lack of data left the Kiwi flat for the session, following Thursday's 0.78% slide, the Kiwi down just 0.04% to $0.6781 at the time of writing.
In the equity markets, it was a mixed morning, the Nikkei reversing start of the day gains following the release of the July inflation figures to sit with a 0.28% rise at the time of writing, while the Hang Seng and CSI300 look to be heading for a 2 nd consecutive day of losses, down 0.05% and by 0.09% respectively.
For the Hang Seng, a more than 1% slide in Tencent holdings contributed to the pullback, with tech stocks under pressure following Facebook's close to 20% slide on Thursday.
Things were better for the ASX200, following 2 consecutive days of losses, the index up 0.74% at the time of writing, the gains pulling the index into positive territory for the current week.
The Day Ahead:
For the EUR , economic data scheduled for release out of the Eurozone this morning is limited to prelim 2 nd quarter GDP numbers and June consumer spending figures out of France.
While 1 st estimate figures are forecasted to show a slight uptick in growth in the 2 nd quarter, which will likely have the greater impact on the EUR, consumer spending is forecasted to slow and, with Draghi keeping the outlook for policy unchanged, any slight pickup in growth, which has been expected in the 2 nd quarter, is unlikely to fuel a EUR rebound to $1.17 levels.
At the time of writing, the EUR was up 0.05% to $1.1649, with today's stats and continued response to the ECB press conference to provide direction through the day.
For the Pound , economic data out of the UK is limited to June house price figures that are unlikely to have a material impact on the Pound, which is on the back foot once more following the EU's latest rejection of proposals made by the British government on Brexit.
The markets and the BoE will now have to wait until mid-August for talks to resume, which comes after next week's BoE monetary policy decision.
At the time of writing, the Pound was down 0.01% to $1.3108, with the Pound facing selling pressure on the lack of progress on Brexit, while finding support from an expected rate hike next week, though even the BoE hawks will be wondering what the final Brexit blueprint will look like.
Across the Pond , it's a big day for the Dollar, with 1 st estimate, 2 nd quarter GDP numbers scheduled for release, with finalized July consumer sentiment figures also due out, though unlikely to be of influence focus being on U.S economic growth.
Forecasts are for the U.S economy to grow by 4.1% in the 2 nd quarter, which would certainly be a boost for the Dollar, with July data beginning to roll in suggesting that momentum remains going into the 3 rd quarter.
Shortly before the numbers, FOMC member Bullard is scheduled to speak, though we don't expect the Dollar to respond, focus being on the GDP numbers.
At the time of writing, the Dollar Spot Index was down 0.09% to 94.7, with today's stats the key driver, the GDP number needing to be on the right side of 4% to drive the Dollar, with the Oval Office there to chip in, if 2 nd quarter growth numbers impress.
For the Loonie , there are no material stats scheduled for release, leaving direction through the day in the hands of crude oil prices and sentiment towards NAFTA, with talk of a NAFTA deal by next month supporting the Loonie at the end of the week.
At the time of writing, the Loonie up 0.08% to C$1.3063 against the U.S Dollar.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR , economic data scheduled for release out of the Eurozone this morning is limited to prelim 2 nd quarter GDP numbers and June consumer spending figures out of France. Across the Pond , it's a big day for the Dollar, with 1 st estimate, 2 nd quarter GDP numbers scheduled for release, with finalized July consumer sentiment figures also due out, though unlikely to be of influence focus being on U.S economic growth. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Forex Technical Analysis - Strengthens Over .7397, Weakens Under .7374 NZD/USD Forex Technical Analysis - Strengthens Over .6773, Weakens Under .6765 DAX Index Forecast - DAX On a Strong Footing The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Month-on-month, final demand prices rise by 0.3%, coming up short of a forecasted 0.4% rise and a 1 st quarter 0.5% increase. Across the Pond , it's a big day for the Dollar, with 1 st estimate, 2 nd quarter GDP numbers scheduled for release, with finalized July consumer sentiment figures also due out, though unlikely to be of influence focus being on U.S economic growth. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Forex Technical Analysis - Strengthens Over .7397, Weakens Under .7374 NZD/USD Forex Technical Analysis - Strengthens Over .6773, Weakens Under .6765 DAX Index Forecast - DAX On a Strong Footing The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Aussie Dollar , based on figures released by the ABS, final demand prices rose by 1.5% in the 2 nd quarter, year-on-year, the annual rate of wholesale price inflation easing from a 1 st quarter 1.7%. In the equity markets, it was a mixed morning, the Nikkei reversing start of the day gains following the release of the July inflation figures to sit with a 0.28% rise at the time of writing, while the Hang Seng and CSI300 look to be heading for a 2 nd consecutive day of losses, down 0.05% and by 0.09% respectively. Across the Pond , it's a big day for the Dollar, with 1 st estimate, 2 nd quarter GDP numbers scheduled for release, with finalized July consumer sentiment figures also due out, though unlikely to be of influence focus being on U.S economic growth. | The Japanese Yen moved from ¥111.218 to ¥111.159 against the Dollar upon release of the figures, before rising to ¥110.98 at the time of writing, a gain of 0.22% for the session. The Day Ahead: For the EUR , economic data scheduled for release out of the Eurozone this morning is limited to prelim 2 nd quarter GDP numbers and June consumer spending figures out of France. Across the Pond , it's a big day for the Dollar, with 1 st estimate, 2 nd quarter GDP numbers scheduled for release, with finalized July consumer sentiment figures also due out, though unlikely to be of influence focus being on U.S economic growth. | 0cb129a9-d8c5-443a-ac8c-f9f5ca1316b1 |
709376.0 | 2018-07-24 00:00:00 UTC | Private Sector PMIs and Trump to Drive the EUR and USD | DBO | https://www.nasdaq.com/articles/private-sector-pmis-and-trump-drive-eur-and-usd-2018-07-24 | nan | nan | Earlier in the Day:
It was another quiet day on the data front, with material stats released through the Asian session this morning limited to July's prelim manufacturing PMI numbers out of Japan.
For the Japanese Yen , the July PMI fell from 53 to a 20-month low 51.6, falling well short of a forecasted rise to 53.2, with the key drivers behind the move being:
New business grew at a much weaker pace and was broadly flat, while export demand deteriorated for a 2 nd consecutive month, in spite of a weaker Yen, albeit at a slower rate of decline.
Input delivery times lengthened to the sharpest in over 7-years, with issued faced on the supply chain side leading to the fastest rate of input price inflation since March 2011.
While output price inflation picked up, the rate was far softer than the rate of input price inflation, which is expected to weigh on profit margins.
Optimism weakened at the start of the 3 rd quarter, the pace of hiring also slowing.
The Japanese Yen moved from ¥111.317 to ¥111.318 upon release of the figures, before rising to ¥111.29 against the Dollar at the time of writing, up 0.05% for the session, as sentiment towards BoJ policy continues to influence.
Elsewhere, the Aussie Dollar and Kiwi Dollar found much needed support following Monday's reversal through the day, a jump in U.S Treasury yields favouring the U.S Dollar at the start of the week.
At the time of writing, the Aussie Dollar was flat at $0.7381, with the Kiwi Dollar down just 0.06% to $0.6782, the pair finding some support from a pickup in risk appetite through the session, while the bounce in U.S Treasury yields pins back any upside.
In the equity markets, it was risk on with the CSI300 and Hang Seng up 1.71% and 1.50% respectively at the time of writing, while the ASX200 and Nikkei were up 0.55% and 0.59% respectively, the gains in the Nikkei muted by the stronger Yen and the softer manufacturing PMI number released earlier in the session.
The Day Ahead:
For the EUR , following a quiet start to the week, economic data scheduled for release out of the Eurozone this morning includes July's prelim private sector PMI numbers out of France, Germany and the Eurozone, together with business confidence figures out of France.
Forecasts are for the PMI numbers to be skewed to the negative, French business confidence forecasted to hold steady in July and for Germany's manufacturing sector to see growth slow marginally. While recent factory order and industrial production figures out of Germany pointed to a recovery, June's PMI hit an 18-month low, with new order growth seeing the slowest rise in more than 2-years that is likely to weigh.
At the time of writing, the EUR was down 0.05% to $1.1686, with today's stats in focus ahead of Juncker's meeting with Trump and Thursday's ECB policy meeting and the all-important press conference.
For the Pound , economic data scheduled for release through the day is limited to July's CBI Industrial Trend Orders, with anything in line with or worse than forecasted considered a negative for the Pound. We can expect the Pound to be more sensitive to the stats, following last week's numbers, with more disappointment likely to see the markets further price out an August rate hike.
At the time of writing, the Pound was down 0.04% to $1.3096, with today's stats and Brexit in focus through the day, concerns over the prospects of a "No Deal" building as Parliament gets ready for the summer holidays.
Across the Pond , stats out of the U.S this afternoon include prelim July private sector PMI numbers, which are forecasted to be Dollar neutral, placing a greater emphasis on the sub-indexes, wholesale price inflation and new order growth in particular.
While the Markit survey based numbers have less of an influence than the ISM numbers, we can expect some influence, with little else other than Trump for the markets to focus on.
At the time of writing, the Dollar Spot Index was up 0.04% to 94659, with today's stats and the ever influential Oval Office the key drivers through the day.
For the Loonie , there are no material stats scheduled for release, with sliding crude oil prices and a jump in U.S treasury yields having pinned back the Loonie in spite of a bounce back in Wholesale Sales in May, that comes off the back of the better than expected retail sales and inflation figures released last week.
At the time of writing, the Loonie was down 0.04% to C$1.3176 against the U.S Dollar.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Japanese Yen moved from ¥111.317 to ¥111.318 upon release of the figures, before rising to ¥111.29 against the Dollar at the time of writing, up 0.05% for the session, as sentiment towards BoJ policy continues to influence. At the time of writing, the Pound was down 0.04% to $1.3096, with today's stats and Brexit in focus through the day, concerns over the prospects of a "No Deal" building as Parliament gets ready for the summer holidays. Across the Pond , stats out of the U.S this afternoon include prelim July private sector PMI numbers, which are forecasted to be Dollar neutral, placing a greater emphasis on the sub-indexes, wholesale price inflation and new order growth in particular. | Earlier in the Day: It was another quiet day on the data front, with material stats released through the Asian session this morning limited to July's prelim manufacturing PMI numbers out of Japan. The Day Ahead: For the EUR , following a quiet start to the week, economic data scheduled for release out of the Eurozone this morning includes July's prelim private sector PMI numbers out of France, Germany and the Eurozone, together with business confidence figures out of France. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD and NZD/USD Fundamental Daily Forecast - Pressured by Widening Interest Rate Differential EUR/USD Daily Price Forecast - Dollar Regains Upper Hand on Higher Treasury Yields Commodities Daily Forecast - July 24, 2018 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR , following a quiet start to the week, economic data scheduled for release out of the Eurozone this morning includes July's prelim private sector PMI numbers out of France, Germany and the Eurozone, together with business confidence figures out of France. For the Loonie , there are no material stats scheduled for release, with sliding crude oil prices and a jump in U.S treasury yields having pinned back the Loonie in spite of a bounce back in Wholesale Sales in May, that comes off the back of the better than expected retail sales and inflation figures released last week. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD and NZD/USD Fundamental Daily Forecast - Pressured by Widening Interest Rate Differential EUR/USD Daily Price Forecast - Dollar Regains Upper Hand on Higher Treasury Yields Commodities Daily Forecast - July 24, 2018 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | While output price inflation picked up, the rate was far softer than the rate of input price inflation, which is expected to weigh on profit margins. The Japanese Yen moved from ¥111.317 to ¥111.318 upon release of the figures, before rising to ¥111.29 against the Dollar at the time of writing, up 0.05% for the session, as sentiment towards BoJ policy continues to influence. For the Pound , economic data scheduled for release through the day is limited to July's CBI Industrial Trend Orders, with anything in line with or worse than forecasted considered a negative for the Pound. | db5087fd-b05e-4d21-af07-db9494b6ecb1 |
709377.0 | 2018-07-18 00:00:00 UTC | UK Inflation to Drive the GBP, with Trump and Powell to Direct the USD | DBO | https://www.nasdaq.com/articles/uk-inflation-drive-gbp-trump-and-powell-direct-usd-2018-07-18 | nan | nan | Earlier in the Day:
Following a relatively busy start to the week, there were no material stats scheduled for release through the Asian session, leaving the markets to consider Powell's Tuesday testimony to the Senate, Trump's sudden backtrack on his agreement that Russia had not meddled in the 2016 Presidential Election and of course, there's always the ongoing trade war to consider and whether the U.S and China will be able to find common ground in the weeks ahead.
While Trump may have perplexed the markets once more, FED Chair Powell was able to restore some order, talking of strong economic growth and the need to continue to raise rates at a gradual pace to keep inflation at bay.
Across the majors, the Japanese Yen was down 0.08% to ¥112.97 at the time of writing, with the Kiwi Dollar was down 0.06% to $0.6779. Upward momentum for the U.S Dollar also weighed on the Aussie Dollar, which was down 0.08% to $0.7383.
In the equity markets, the 'risk on' mood saw the Nikkei up 0.72% at the time of writing, supported by a further pullback in the Yen off the back of Powell's positive assessment of the U.S economy. The Hang Seng and CSI300 saw some respite, with gains of 0.27% and 0.5% respectively, with the ASX200 clawing back some of the week's losses, gaining 0.72% ahead of the close.
The Day Ahead:
For the EUR , it's another relatively quiet day on the data front, with key stats limited to the Eurozone's June inflation figures. Focus will be on the headline June figure that is forecasted to reflect softer inflationary pressures, with the finalized annual rate of inflation and annual rate of core inflation numbers unlikely to have a material impact barring deviation from prelim figures.
Outside of the numbers, geo-political risk remains ever present, with the threat of fresh tariffs on the EU a continued possibility that could hit the EUR.
For now, in spite of a general view that the U.S economy is under threat of unravelling, should the trade war become extended, policy divergence remains in favour of the Dollar, with the Eurozone's inflation sitting well below the ECB's close to 2% target.
At the time of writing, the EUR was down 0.12% to $1.1647, with today's inflation numbers and political noise from Capitol Hill likely to be key drivers through the day.
For the Pound , it's another important day on theeconomic calendar with June's inflation figures scheduled for release. Following some disappointing May wage growth figures released on Tuesday, the prospects of an August rate hike have diminished, as wage growth struggles to keep pace with inflation.
With Brexit in the mix, a hold on rates, after some hawkish chatter, would be a painful U-turn for the Pound, which found little support from the British Prime Minister's Brexit plan passing through parliament, with just six votes preventing a vote of no confidence.
The Pound reflected market sentiment towards May's troubles at the helm and fresh uncertainty over the outlook towards monetary policy, sliding to a session low $1.30687 before recovering to $1.31 levels by the close on Tuesday.
At the time of writing, the Pound was down 0.05% to $1.3108, with today's data the key driver, though expect some chatter from the EU on the latest parliamentary vote that saw Britain take an EU Customs Union off the table should negotiators fail to garner a free trade agreement.
Across the Pond , economic data out of the U.S is limited to June housing data numbers, with building permits and housing starts scheduled for release. While upbeat numbers tend to be Dollar positive, the housing sector reflective of economic conditions, FED Chair Powell and President Trump will likely remain the main areas of focus.
Following Trump's backtrack and FED Chair Powell's upbeat views on the U.S economy and policy, tonight's testimony could provide further support, though the ongoing trade war remains the curve ball for the FED, the U.S economy and ultimately the Greenback.
At the time of writing, the Dollar Spot Index was up 0.06% to 95.038, with direction through the day hinged on Powell's 2 nd day of testimony and any noise from the Oval Office, trade likely to be an area of focus once more.
For the Loonie , it's a quiet day on the data front, leaving the Loonie in the hands of market risk appetite and the direction of crude oil prices , while chatter on NAFTA has begun to hit the headlines once more, with Mexico looking to get the ball rolling following Obrador's election victory.
At the time of writing, the Loonie was down 0.11% to C$1.3206 against the U.S Dollar.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | While Trump may have perplexed the markets once more, FED Chair Powell was able to restore some order, talking of strong economic growth and the need to continue to raise rates at a gradual pace to keep inflation at bay. For now, in spite of a general view that the U.S economy is under threat of unravelling, should the trade war become extended, policy divergence remains in favour of the Dollar, with the Eurozone's inflation sitting well below the ECB's close to 2% target. While upbeat numbers tend to be Dollar positive, the housing sector reflective of economic conditions, FED Chair Powell and President Trump will likely remain the main areas of focus. | The Day Ahead: For the EUR , it's another relatively quiet day on the data front, with key stats limited to the Eurozone's June inflation figures. While upbeat numbers tend to be Dollar positive, the housing sector reflective of economic conditions, FED Chair Powell and President Trump will likely remain the main areas of focus. Following Trump's backtrack and FED Chair Powell's upbeat views on the U.S economy and policy, tonight's testimony could provide further support, though the ongoing trade war remains the curve ball for the FED, the U.S economy and ultimately the Greenback. | Earlier in the Day: Following a relatively busy start to the week, there were no material stats scheduled for release through the Asian session, leaving the markets to consider Powell's Tuesday testimony to the Senate, Trump's sudden backtrack on his agreement that Russia had not meddled in the 2016 Presidential Election and of course, there's always the ongoing trade war to consider and whether the U.S and China will be able to find common ground in the weeks ahead. Focus will be on the headline June figure that is forecasted to reflect softer inflationary pressures, with the finalized annual rate of inflation and annual rate of core inflation numbers unlikely to have a material impact barring deviation from prelim figures. This article was originally posted on FX Empire More From FXEMPIRE: Pound Falls on Brexit Concerns, UK inflation Rate Set to Rise EUR/USD Daily Price Forecast - EUR/USD on Bearish Slide as Greenback Spiked up Post Hawkish Powell's Speech Monero Technical Analysis - Bullish Trend Forming - 18/07/18 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR , it's another relatively quiet day on the data front, with key stats limited to the Eurozone's June inflation figures. Following Trump's backtrack and FED Chair Powell's upbeat views on the U.S economy and policy, tonight's testimony could provide further support, though the ongoing trade war remains the curve ball for the FED, the U.S economy and ultimately the Greenback. At the time of writing, the Loonie was down 0.11% to C$1.3206 against the U.S Dollar. | 2bd7bbaa-3c73-494e-a5bb-b2a2d50a645e |
709378.0 | 2018-07-17 00:00:00 UTC | UK Stats and FED Chair Powell Put the GBP and USD into Focus | DBO | https://www.nasdaq.com/articles/uk-stats-and-fed-chair-powell-put-gbp-and-usd-focus-2018-07-17 | nan | nan | Earlier in the Day:
Following a relatively busy start to the week, with the markets responding to slower growth in China, stats through the Asian session were limited to 2 nd quarter inflation figures out of New Zealand, with the RBA meeting minutes also released later in the session.
For the Kiwi Dollar , 2 nd quarter inflation figures came up short of forecasts, with consumer prices rising by 0.4%, quarter on quarter, which fell short of a forecasted and 1 st quarter 0.5%. Year-on-year, consumer prices rose by 1.5%, falling short of a forecasted 1.6%, while coming in ahead of the 1 st quarter's 1.1%.
NZ Stats reported that the 1.5% rise in inflation was mainly attributable to higher prices for housing and household utilities, with gains of 0.9% and 3.1% in the quarter and in the year, respectively.
Housing-related costs included:
8% increase in rents, quarter-on-quarter and a 2.5% increase, year-on-year.
Construction of new dwellings rise by 1.1%, quarter-on-quarter, and by 3.9% year-on-year.
Electricity prices rose by 1.7%, quarter-on-quarter, and by 2.9% year-on-year.
Elsewhere, increases in petrol prices were offset by falling prices for used cars and home entertainment.
The Kiwi Dollar moved from $0.67684 to $0.67765, recovering from an initial dip to $0.67556, with the year-on-year figure supporting the Kiwi in the early hours. At the time of writing, the Kiwi Dollar was down 0.78% to $0.6830.
For the Aussie Dollar , there were no surprises in the RBA meeting minutes, as the RBA continued to focus on tepid wage growth and household debt that continues to raise concerns over domestic consumption, with any rise in borrowing costs expected to be a negative for the economy in general.
In spite of the concerns, the RBA continued to advise that the next move was likely to be upwards, which was also in line with previous statements. While forward guidance may point to an upward move, much will depend on the outcome of the ongoing trade war between the U.S and key trading partners, an extended trade war expected to hit the global economy that would sink demand for raw materials and the Australian economy with it.
The Aussie Dollar moved from $0.74178 to $0.74147 upon release of the minutes, before moving to $0.7434, up 0.20% for the session.
Elsewhere, the Japanese Yen was down again against the Dollar, falling 0.12% to ¥112.43 against the Dollar, the losses coming in spite of the slide in the equity markets and Trump's latest best friend discovery in Putin.
In the equity markets, the Nikkei bucked the trend following Monday's holiday, rising by 0.78% ahead of the close, supported by the weaker Yen, while the Hang Seng, CSI300 and ASX200 saw red, with a slide in mining & resources and tech stocks weighing through the session.
The Day Ahead:
For the EUR , it's another quiet day for the EUR, with key stats scheduled for release being limited to finalized June inflation numbers out of Italy.
The numbers are unlikely to have a material impact on the EUR, which was the beneficiary of a falling Dollar on Monday, as the markets responded to the U.S President's latest political roadshow.
At the time of writing, the EUR was up 0.04% to $1.1716, with any chatter from the Oval Office on EU tariffs a possible influence later in the day as the Helsinki dust settles.
For the Pound , it's the start of 3 particularly important days on the data front, with this morning's stats including May's wage growth and unemployment numbers, together with June's claimant count change figures.
For the BoE hawks, steady unemployment and an uptick in wage growth would be the perfect cocktail for an August rate hike, with the UK economy having bounced back from the woes of the 1 st quarter and the annual rate of inflation forecasted to see an uptick in tomorrow's June figures.
At the time of writing, the Pound was up 0.08% to $1.3245, with today's data the key driver, though there is always Brexit chatter to hit the markets. One does wonder whether Trump's latest political move in Russia will inspire the EU take a different approach with the UK and Brexit.
Across the Pond , economic data out of the U.S is limited to June industrial production figures that are forecasted to be Dollar positive, though any moves will likely be on hold as the markets look to FED Chair Powell's first day of testimony to the Senate, where the FED's view that a trade war between the U.S and China would have limited impact on policy will likely be questioned.
Any questions on the FED's monetary policy structure will also influence as will any references to the FED's willingness to allow a near-term overshoot of inflation from the FED's 2% objective, continuingly tepid wage growth, coupled with rising borrowing costs, an acceleration in the annual rate of inflation and a trade war certain negatives from a domestic consumption perspective.
At the time of writing, the Dollar Spot Index was 0.03% to 94.486, with direction through the day likely to be hinged on Powell's testimony and any fallout from Trump's Helsinki trip in focus, though Trump could look to divert attention by returning to trade.
For the Loonie , stats through the day are limited to May manufacturing sales figures that are forecasted to be positive, though a slide in crude oil prices and continued trade tensions are likely to limit any moves in spite of the Bank of Canada being more interested in the data than trade war chatter.
At the time of writing, the Loonie was up 0.09% to C$1.314 against the U.S Dollar, with today's stats and the Oval Office key drivers through the day.
This article was originally posted on FX Empire
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EUR/USD Daily Price Forecast - EUR/USD Cautious Ahead of Powell Testimony
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | NZ Stats reported that the 1.5% rise in inflation was mainly attributable to higher prices for housing and household utilities, with gains of 0.9% and 3.1% in the quarter and in the year, respectively. In the equity markets, the Nikkei bucked the trend following Monday's holiday, rising by 0.78% ahead of the close, supported by the weaker Yen, while the Hang Seng, CSI300 and ASX200 saw red, with a slide in mining & resources and tech stocks weighing through the session. For the Pound , it's the start of 3 particularly important days on the data front, with this morning's stats including May's wage growth and unemployment numbers, together with June's claimant count change figures. | For the Kiwi Dollar , 2 nd quarter inflation figures came up short of forecasts, with consumer prices rising by 0.4%, quarter on quarter, which fell short of a forecasted and 1 st quarter 0.5%. For the Aussie Dollar , there were no surprises in the RBA meeting minutes, as the RBA continued to focus on tepid wage growth and household debt that continues to raise concerns over domestic consumption, with any rise in borrowing costs expected to be a negative for the economy in general. This article was originally posted on FX Empire More From FXEMPIRE: Oil Price Fundamental Daily Forecast - Easing of Restrictions Against Exports from Iran Key Issue Driving Price Action Commodities Daily Forecast - July 17, 2018 EUR/USD Daily Price Forecast - EUR/USD Cautious Ahead of Powell Testimony The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Kiwi Dollar , 2 nd quarter inflation figures came up short of forecasts, with consumer prices rising by 0.4%, quarter on quarter, which fell short of a forecasted and 1 st quarter 0.5%. Across the Pond , economic data out of the U.S is limited to June industrial production figures that are forecasted to be Dollar positive, though any moves will likely be on hold as the markets look to FED Chair Powell's first day of testimony to the Senate, where the FED's view that a trade war between the U.S and China would have limited impact on policy will likely be questioned. This article was originally posted on FX Empire More From FXEMPIRE: Oil Price Fundamental Daily Forecast - Easing of Restrictions Against Exports from Iran Key Issue Driving Price Action Commodities Daily Forecast - July 17, 2018 EUR/USD Daily Price Forecast - EUR/USD Cautious Ahead of Powell Testimony The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Kiwi Dollar , 2 nd quarter inflation figures came up short of forecasts, with consumer prices rising by 0.4%, quarter on quarter, which fell short of a forecasted and 1 st quarter 0.5%. Elsewhere, the Japanese Yen was down again against the Dollar, falling 0.12% to ¥112.43 against the Dollar, the losses coming in spite of the slide in the equity markets and Trump's latest best friend discovery in Putin. Across the Pond , economic data out of the U.S is limited to June industrial production figures that are forecasted to be Dollar positive, though any moves will likely be on hold as the markets look to FED Chair Powell's first day of testimony to the Senate, where the FED's view that a trade war between the U.S and China would have limited impact on policy will likely be questioned. | f6af54cb-cdb4-443e-add6-5b75984ca2f8 |
709379.0 | 2018-07-11 00:00:00 UTC | How to Play Oil as a Commodity With ETFs | DBO | https://www.nasdaq.com/articles/how-play-oil-commodity-etfs-2018-07-11 | nan | nan | The hottest commodity oil has been on a solid run this year thanks to a tightening oil market and rising global demand. Rounds of news about new supply disruption are adding strength to the oil price, making the case for oil ETFs appealing.
Supply Declining
The looming Iran sanctions and falling Libya and Venezuela output were the biggest catalysts in driving oil price lately. The United States is expected to halt oil exports from the fifth-biggest producer Iran by November though some waivers can be granted while production in Libya has halved in five months to 527,000 barrels per day. Venezuela's worsening economic crisis has forced the country to curtail its output to below 2 million barrels per day, which has been halved since 2005.
Now, the strike by hundreds of workers on Norwegian offshore oil and gas rigs has led to the shutdown of one shell-operated oilfield, escalating supply worries. A Canadian production outage at the 360,000-bpd Syncrude oil sands facility has reduced flows into Cushing, OK and is expected to continue doing so till September. Further, ongoing geopolitical tension in the Middle East is supporting the higher oil price.
The Organization of the Petroleum Exporting Countries (OPEC) and other top crude producers, agreed to raise output by about 1 million barrels per day from July in order to offset global production losses in countries including Libya and Venezuela. However, the move will not be able to make up for higher demand thus pushing the price higher (read: What Does the OPEC Agreement Mean for Energy ETFs? ).
Demand Rising
Global demand for oil has been picking up buoyed by improving economic growth since the financial crisis and continued to be strong during the peak summer season.
However, China's demand may be at risk due to Trump's tariff threats. President Donald Trump has threatened to levy new trade tariffs of 10% on $200 billion worth of Chinese goods, a move that will intensify further trade tensions between the world's two biggest economies (read: Beyond China, These Asia ETFs to Feel the Heat of Trade War ).
How to Play?
Given the improving supply/demand trends, crude prices are expected to remain above $70 per barrel at least for the short term and could rise further if oil supply disruption persists. This has compelled many investors to look into the oil commodity world. For them, we have highlighted a few popular oil ETFs that could be interesting plays to directly deal with in the futures market in the coming months.
United States Brent Oil Fund BNO
This fund provides direct exposure to the spot price of Brent crude oil on a daily basis through future contracts. It has amassed $104 million in its asset base and trades in a good volume of roughly 190,000 shares a day. The ETF charges 90 bps in annual fees and expenses. BNO surged 22.2% so far this year (read: Top ETF Events of 1H to Watch in 2H ).
United States Oil Fund USO
This is the most popular and liquid ETF in the oil space with an AUM of $1.8 billion and average daily volume of nearly 20.6 million shares. The fund seeks to match the performance of the spot price of West Texas Intermediate (WTI or U.S. crude). The ETF has 0.76% in expense ratio and has gained 25.5% so far this year.
Invesco DB Oil Fund DBO
This product provides exposure to crude oil through WTI futures contracts and follows the DBIQ Optimum Yield Crude Oil Index Excess Return. The fund sees solid average daily volume of 1.4 million shares and has AUM of $376.4 million. It has an expense ratio of 78 bps and has gained 23.3% in the same time frame.
United States 12 Month Oil Fund USL
USL provides investors exposure to front-month WTI futures contracts. It is unpopular and less liquid with AUM of $83.3 million and average daily volume of 30,000 shares. Expense ratio comes in at 0.86%. The fund is up 21.4% so far this year (read: How to Play Oil's Surge with ETFs ).
ETRACS S&P GSCI Crude Oil Total Return Index ETN OILX
This is an ETN option for oil investors and its performance is linked to S&P GSCI Crude Oil Total Return Index, which reflects the returns through an unleveraged investment in the WTI crude oil futures contract. The note has amassed $17.2 million in its asset base and trades in a meager volume of about 600 shares a day. Its expense ratio comes in at 0.50% and the note has returned 31.3% in the year-to-date timeframe.
State of Backwardation: A Big Bull for Oil
While the above products provide the easiest way of gaining direct exposure to the oil commodity, these have serious consequences on the profits (or loss) of investors. This is especially true as these ETFs and ETNs need to roll from one futures contract to another in order to avoid physical delivery and are thus susceptible to roll yield.
Roll yield is positive when the futures market is in backwardation (the front-month contract is higher than the next-month contract) and negative when the futures market is in contango (the front-month contract is lower than the next-month contract). Investors should note that the state of contango could eat away returns over the longer time periods.
The oil futures market is currently in a state of backwardation, signaling that the oil market is tightening and demand is robust paving the way for an oil rally. This trend is likely to persist at least in the near term, acting as the biggest catalyst for the commodity.
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US-OIL FUND LP (USO): ETF Research Reports
PWRSH-DB OIL FD (DBO): ETF Research Reports
US-12 MONTH OIL (USL): ETF Research Reports
US BRENT OIL FD (BNO): ETF Research Reports
R-TRC GSCI COTR (OILX): ETF Research Reports
To read this article on Zacks.com click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Invesco DB Oil Fund DBO This product provides exposure to crude oil through WTI futures contracts and follows the DBIQ Optimum Yield Crude Oil Index Excess Return. Click to get this free report US-OIL FUND LP (USO): ETF Research Reports PWRSH-DB OIL FD (DBO): ETF Research Reports US-12 MONTH OIL (USL): ETF Research Reports US BRENT OIL FD (BNO): ETF Research Reports R-TRC GSCI COTR (OILX): ETF Research Reports To read this article on Zacks.com click here. The United States is expected to halt oil exports from the fifth-biggest producer Iran by November though some waivers can be granted while production in Libya has halved in five months to 527,000 barrels per day. | Click to get this free report US-OIL FUND LP (USO): ETF Research Reports PWRSH-DB OIL FD (DBO): ETF Research Reports US-12 MONTH OIL (USL): ETF Research Reports US BRENT OIL FD (BNO): ETF Research Reports R-TRC GSCI COTR (OILX): ETF Research Reports To read this article on Zacks.com click here. Invesco DB Oil Fund DBO This product provides exposure to crude oil through WTI futures contracts and follows the DBIQ Optimum Yield Crude Oil Index Excess Return. United States Brent Oil Fund BNO This fund provides direct exposure to the spot price of Brent crude oil on a daily basis through future contracts. | Invesco DB Oil Fund DBO This product provides exposure to crude oil through WTI futures contracts and follows the DBIQ Optimum Yield Crude Oil Index Excess Return. Click to get this free report US-OIL FUND LP (USO): ETF Research Reports PWRSH-DB OIL FD (DBO): ETF Research Reports US-12 MONTH OIL (USL): ETF Research Reports US BRENT OIL FD (BNO): ETF Research Reports R-TRC GSCI COTR (OILX): ETF Research Reports To read this article on Zacks.com click here. ETRACS S&P GSCI Crude Oil Total Return Index ETN OILX This is an ETN option for oil investors and its performance is linked to S&P GSCI Crude Oil Total Return Index, which reflects the returns through an unleveraged investment in the WTI crude oil futures contract. | Invesco DB Oil Fund DBO This product provides exposure to crude oil through WTI futures contracts and follows the DBIQ Optimum Yield Crude Oil Index Excess Return. Click to get this free report US-OIL FUND LP (USO): ETF Research Reports PWRSH-DB OIL FD (DBO): ETF Research Reports US-12 MONTH OIL (USL): ETF Research Reports US BRENT OIL FD (BNO): ETF Research Reports R-TRC GSCI COTR (OILX): ETF Research Reports To read this article on Zacks.com click here. United States Brent Oil Fund BNO This fund provides direct exposure to the spot price of Brent crude oil on a daily basis through future contracts. | 451b0494-f5c7-4d58-beeb-6e0b2fea1782 |
709380.0 | 2018-07-11 00:00:00 UTC | How to Play Oil as a Commodity With ETFs | DBO | https://www.nasdaq.com/articles/how-to-play-oil-as-a-commodity-with-etfs-2018-07-11 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The hottest commodity oil has been on a solid run this year thanks to a tightening oil market and rising global demand. Rounds of news about new supply disruption are adding strength to the oil price, making the case for oil ETFs appealing.
Source: Shutterstock
Supply Declining
The looming Iran sanctions and falling Libya and Venezuela output were the biggest catalysts in driving oil price lately. The United States is expected to halt oil exports from the fifth-biggest producer Iran by November though some waivers can be granted while production in Libya has halved in five months to 527,000 barrels per day.
Venezuela's worsening economic crisis has forced the country to curtail its output to below 2 million barrels per day, which has been halved since 2005.
Now, the strike by hundreds of workers on Norwegian offshore oil and gas rigs has led to the shutdown of one shell-operated oilfield, escalating supply worries. A Canadian production outage at the 360,000-bpd Syncrude oil sands facility has reduced flows into Cushing, OK and is expected to continue doing so till September. Further, ongoing geopolitical tension in the Middle East is supporting the higher oil price.
4 Top-Ranked Oil Stocks to Deliver Strong Profits in 2H18
The Organization of the Petroleum Exporting Countries (OPEC) and other top crude producers, agreed to raise output by about 1 million barrels per day from July in order to offset global production losses in countries including Libya and Venezuela. However, the move will not be able to make up for higher demand thus pushing the price higher.
Demand Rising
Global demand for oil has been picking up buoyed by improving economic growth since the financial crisis and continued to be strong during the peak summer season.
However, China's demand may be at risk due to Trump's tariff threats. President Donald Trump has threatened to levy new trade tariffs of 10% on $200 billion worth of Chinese goods, a move that will intensify further trade tensions between the world's two biggest economies
How to Play?
Given the improving supply/demand trends, crude prices are expected to remain above $70 per barrel at least for the short term and could rise further if oil supply disruption persists. This has compelled many investors to look into the oil commodity world. For them, we have highlighted a few popular oil ETFs that could be interesting plays to directly deal with in the futures market in the coming months.
How to Play Oil as a Commodity With ETFs: United States Brent Oil Fund (BNO)
The United States Brent Oil Fund (NYSEARCA: BNO ) provides direct exposure to the spot price of Brent crude oil on a daily basis through future contracts.
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It has amassed $104 million in its asset base and trades in a good volume of roughly 190,000 shares a day. The ETF charges 90 bps in annual fees and expenses. BNO surged 22.2% so far this year.
How to Play Oil as a Commodity With ETFs: United States Oil Fund (USO)
The United States Oil Fund (NYSEARCA: USO ) is the most popular and liquid ETF in the oil space with an AUM of $1.8 billion and average daily volume of nearly 20.6 million shares.
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The fund seeks to match the performance of the spot price of West Texas Intermediate (WTI or U.S. crude). The ETF has 0.76% in expense ratio and has gained 25.5% so far this year.
How to Play Oil as a Commodity With ETFs: Invesco DB Oil Fund (DBO)
The Invesco DB Oil Fund (NYSEARCA: DBO ) provides exposure to crude oil through WTI futures contracts and follows the DBIQ Optimum Yield Crude Oil Index Excess Return.
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The fund sees solid average daily volume of 1.4 million shares and has AUM of $376.4 million. It has an expense ratio of 78 bps and has gained 23.3% in the same time frame.
How to Play Oil as a Commodity With ETFs: United States 12 Month Oil Fund (USL)
United States 12 Month Oil Fund (NYSEARCA: USL ) provides investors exposure to front-month WTI futures contracts.
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It is unpopular and less liquid with AUM of $83.3 million and average daily volume of 30,000 shares. Expense ratio comes in at 0.86%. The fund is up 21.4% so far this year.
How to Play Oil as a Commodity With ETFs: ETRACS S&P GSCI Crude Oil Total Return Index ETN (OILX)
ETRACS S&P GSCI Crude Oil Total Return Index ETN (NYSEARCA: OILX ) is an ETN option for oil investors and its performance is linked to S&P GSCI Crude Oil Total Return Index, which reflects the returns through an unleveraged investment in the WTI crude oil futures contract.
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The note has amassed $17.2 million in its asset base and trades in a meager volume of about 600 shares a day. Its expense ratio comes in at 0.50% and the note has returned 31.3% in the year-to-date timeframe.
State of Backwardation: A Big Bull for Oil
While the above products provide the easiest way of gaining direct exposure to the oil commodity, these have serious consequences on the profits (or loss) of investors. This is especially true as these ETFs and ETNs need to roll from one futures contract to another in order to avoid physical delivery and are thus susceptible to roll yield.
Roll yield is positive when the futures market is in backwardation (the front-month contract is higher than the next-month contract) and negative when the futures market is in contango (the front-month contract is lower than the next-month contract). Investors should note that the state of contango could eat away returns over the longer time periods.
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The oil futures market is currently in a state of backwardation, signaling that the oil market is tightening and demand is robust paving the way for an oil rally. This trend is likely to persist at least in the near term, acting as the biggest catalyst for the commodity.
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The post How to Play Oil as a Commodity With ETFs appeared first on InvestorPlace .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | How to Play Oil as a Commodity With ETFs: Invesco DB Oil Fund (DBO) The Invesco DB Oil Fund (NYSEARCA: DBO ) provides exposure to crude oil through WTI futures contracts and follows the DBIQ Optimum Yield Crude Oil Index Excess Return. Source: Shutterstock Supply Declining The looming Iran sanctions and falling Libya and Venezuela output were the biggest catalysts in driving oil price lately. The United States is expected to halt oil exports from the fifth-biggest producer Iran by November though some waivers can be granted while production in Libya has halved in five months to 527,000 barrels per day. | How to Play Oil as a Commodity With ETFs: Invesco DB Oil Fund (DBO) The Invesco DB Oil Fund (NYSEARCA: DBO ) provides exposure to crude oil through WTI futures contracts and follows the DBIQ Optimum Yield Crude Oil Index Excess Return. How to Play Oil as a Commodity With ETFs: United States Brent Oil Fund (BNO) The United States Brent Oil Fund (NYSEARCA: BNO ) provides direct exposure to the spot price of Brent crude oil on a daily basis through future contracts. How to Play Oil as a Commodity With ETFs: United States 12 Month Oil Fund (USL) United States 12 Month Oil Fund (NYSEARCA: USL ) provides investors exposure to front-month WTI futures contracts. | How to Play Oil as a Commodity With ETFs: Invesco DB Oil Fund (DBO) The Invesco DB Oil Fund (NYSEARCA: DBO ) provides exposure to crude oil through WTI futures contracts and follows the DBIQ Optimum Yield Crude Oil Index Excess Return. How to Play Oil as a Commodity With ETFs: United States Oil Fund (USO) The United States Oil Fund (NYSEARCA: USO ) is the most popular and liquid ETF in the oil space with an AUM of $1.8 billion and average daily volume of nearly 20.6 million shares. How to Play Oil as a Commodity With ETFs: ETRACS S&P GSCI Crude Oil Total Return Index ETN (OILX) ETRACS S&P GSCI Crude Oil Total Return Index ETN (NYSEARCA: OILX ) is an ETN option for oil investors and its performance is linked to S&P GSCI Crude Oil Total Return Index, which reflects the returns through an unleveraged investment in the WTI crude oil futures contract. | How to Play Oil as a Commodity With ETFs: Invesco DB Oil Fund (DBO) The Invesco DB Oil Fund (NYSEARCA: DBO ) provides exposure to crude oil through WTI futures contracts and follows the DBIQ Optimum Yield Crude Oil Index Excess Return. InvestorPlace - Stock Market News, Stock Advice & Trading Tips The hottest commodity oil has been on a solid run this year thanks to a tightening oil market and rising global demand. How to Play Oil as a Commodity With ETFs: United States Brent Oil Fund (BNO) The United States Brent Oil Fund (NYSEARCA: BNO ) provides direct exposure to the spot price of Brent crude oil on a daily basis through future contracts. | 7899d362-6b46-41bd-963d-c9b66137316c |
709381.0 | 2018-07-05 00:00:00 UTC | It’s Dollar Day, with FOMC Minutes, Stats and Trump’s Tariffs in Focus | DBO | https://www.nasdaq.com/articles/its-dollar-day-fomc-minutes-stats-and-trumps-tariffs-focus-2018-07-05 | nan | nan | Earlier in the Day:
There were no material stats released through the Asian session this morning to provide direction to the majors, leaving the markets to consider the FOMC meeting minutes due out later today, this week's labour market figures out of the U.S and, more importantly, whether China and the U.S will proceed with rolling out the fresh tariffs tomorrow.
With time zones giving China the first shot on Friday, the positive for the markets this morning will be the comments from the Finance Ministry on Wednesday, where the Chinese government was clear that it would not fire the first shot in the trade war on Friday and that it would not be implementing tariff measures ahead of the U.S doing so, leaving it all in the hands of the U.S President who seems particularly eager to, not only roll out fresh tariffs on China, but hit other economies along the way.
At the time of writing, the Aussie Dollar was down 0.24% to $0.7368, while the Japanese Yen was up 0.05% to ¥110.43 against the U.S Dollar, China's stance on tariffs providing the markets with little risk appetite at the start of the day, supporting appetite for the safe haven plays through the morning. A battered Kiwi Dollar managed to find some support through the morning, up 0.06% to $0.6766, though the gains were more technical than off the back of any shift in sentiment towards RBNZ policy.
In the equity markets, the ASX200 ended the day with a 0.41% gain to buck the trend seen across the broader market as the Hang Seng and CSI300 continued to bleed, the pair down 1.31% and 0.73% respectively at the time of writing. Things were not much better for the Nikkei, which was down 1.11% ahead of the close.
The Day Ahead:
For the EUR , economic data scheduled for release this morning is limited to May factory orders out of Germany. Following June's private sector PMI numbers that showed slower growth in the manufacturing sector, the markets will be looking for a rebound in factory orders, following April's 2.5% slide.
Positive numbers will provide the EUR with some immediate direction, though geo-politics will likely have the final say.
Following Monday's Merkel - Seehofer agreement on migration, the Social Democrats could still bring down the coalition government, the Monday agreement having been between the CDUs and CSUs.
Talks resume today and things could get messy for the EUR should there be any hint of the Social Democrats snubbing the agreement, which could ultimately lead to fresh elections and, following Italy's election result, it wouldn't just be the EU that would get nervous at the prospect of another election.
At the time of writing, the EUR was up 0.09% to $1.1668, with today's data, updates from the Social Democrats and noise from the Oval Office the key drivers through the day.
For the Pound , the markets can take a breather following the release of June's private sector PMI numbers through the week, with no material stats scheduled for release.
Following a pickup in private sector activity, the chances of an August rate hike have improved, with the increase in votes in favour of a rate hike in July suggesting that a move was already imminent ahead of this week's stats.
There could be greater clarity later this morning with BoE Governor Carney scheduled to speak, any talk of an imminent move likely to see the Pound take a leap, though Carney may caveat any hawkish outlook on policy with the need for the BoE to monitor the current trade spat and progress on Brexit negotiations.
At the time of writing, the Pound was down 0.04% to $1.3225, with Carney and Brexit chatter the key drivers through the day.
Across the Pond , following Wednesday's holiday, it's a big day for the U.S Dollar. Key stats scheduled for release through the afternoon include June's ADP nonfarm employment change figures, finalized June Markit service sector PMI and the market's preferred ISM non-manufacturing PMI numbers, with the weekly jobless claims figures also there for consideration.
The Dollar would certainly find some support should the ADP nonfarm employment change numbers impress, though we would expect the ISM non-manufacturing PMI to have the greatest influence.
Outside of the stats, the FOMC meeting minutes will also be in focus, though we would expect the minutes to provide few surprises following the release of the FOMC economic projections and FOMC press conference at the time of the June rate hike.
At the time of writing, the Dollar Spot Index was up 0.06% to $94.586, with today's stats, the FOMC meeting minutes and the Oval Office in focus, the U.S and China inching ever close to tomorrow's fresh tariffs.
For the Loonie, it's another quiet day on the data front, leaving direction through the day hinged on noise from the Oval Office and sentiment towards tomorrow's stats that could provide the BoC with the necessary justifications to lift rates, though any perceived negative effects from trade tariffs on the economic outlook would need to be considered.
At the time of writing, the Loonie was down 0.06% to C$1.3151, with trade war chatter continuing to be the key driver through the day, while a pullback in crude oil prices also weighed early on.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Dollar would certainly find some support should the ADP nonfarm employment change numbers impress, though we would expect the ISM non-manufacturing PMI to have the greatest influence. At the time of writing, the Dollar Spot Index was up 0.06% to $94.586, with today's stats, the FOMC meeting minutes and the Oval Office in focus, the U.S and China inching ever close to tomorrow's fresh tariffs. At the time of writing, the Loonie was down 0.06% to C$1.3151, with trade war chatter continuing to be the key driver through the day, while a pullback in crude oil prices also weighed early on. | Key stats scheduled for release through the afternoon include June's ADP nonfarm employment change figures, finalized June Markit service sector PMI and the market's preferred ISM non-manufacturing PMI numbers, with the weekly jobless claims figures also there for consideration. At the time of writing, the Dollar Spot Index was up 0.06% to $94.586, with today's stats, the FOMC meeting minutes and the Oval Office in focus, the U.S and China inching ever close to tomorrow's fresh tariffs. This article was originally posted on FX Empire More From FXEMPIRE: Gold Steady above $1250 Ahead of FOMC Minutes Forex Daily Outlook - July 5, 2018 Commodities Daily Forecast - July 5, 2018 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: There were no material stats released through the Asian session this morning to provide direction to the majors, leaving the markets to consider the FOMC meeting minutes due out later today, this week's labour market figures out of the U.S and, more importantly, whether China and the U.S will proceed with rolling out the fresh tariffs tomorrow. At the time of writing, the Aussie Dollar was down 0.24% to $0.7368, while the Japanese Yen was up 0.05% to ¥110.43 against the U.S Dollar, China's stance on tariffs providing the markets with little risk appetite at the start of the day, supporting appetite for the safe haven plays through the morning. Key stats scheduled for release through the afternoon include June's ADP nonfarm employment change figures, finalized June Markit service sector PMI and the market's preferred ISM non-manufacturing PMI numbers, with the weekly jobless claims figures also there for consideration. | Earlier in the Day: There were no material stats released through the Asian session this morning to provide direction to the majors, leaving the markets to consider the FOMC meeting minutes due out later today, this week's labour market figures out of the U.S and, more importantly, whether China and the U.S will proceed with rolling out the fresh tariffs tomorrow. At the time of writing, the EUR was up 0.09% to $1.1668, with today's data, updates from the Social Democrats and noise from the Oval Office the key drivers through the day. At the time of writing, the Dollar Spot Index was up 0.06% to $94.586, with today's stats, the FOMC meeting minutes and the Oval Office in focus, the U.S and China inching ever close to tomorrow's fresh tariffs. | 91ad7623-ab75-4899-8a3f-1e23b6972115 |
709382.0 | 2018-06-24 00:00:00 UTC | Crude Oil Rally Drives Commodity-Linked Currencies Higher, Pressuring Greenback | DBO | https://www.nasdaq.com/articles/crude-oil-rally-drives-commodity-linked-currencies-higher-pressuring-greenback-2018-06-24 | nan | nan | The U.S. Dollar surged to an 11-month high against a basket of currencies early last week, but ended the week lower, suggesting the rally may have run its course. Last week, dollar investors reacted to geopolitical events such as the escalating tensions over trade between the United States and China, U.S. economic data and weaker Treasury yields due to a mixed performance in U.S. equity markets.
The dollar rose sharply on June 19 after U.S. President Donald Trump threatened more tariffs on China in an escalating trade dispute investors fear could hurt global growth. Trump threatened to impose a 10 percent tariff on $200 billion of Chinese goods, prompting a swift warning from Beijing of retaliation.
The Greenback rallied against a basket of currencies as traders bet on an escalating trade war forcing inflation up in the U.S. because of costlier imports, raising the prospect of more interest rate hikes.
Sellers came in to drive the U.S. Dollar from its 11-month high against a basket of major currencies on Thursday on profit-taking fueled by weaker than expected U.S. manufacturing data.
The Philadelphia Federal Reserve's gauge of U.S. Mid-Atlantic business activity fell to a 1-1/year low, raising concern about the U.S. economy and causing some traders to book profits on bullish dollar bets, analysts said. These traders also said that the Philly Fed miss to the downside was a convenient excuse for traders to book profits.
The dollar index was also pressured late in the week on Friday after a rise in the Euro and commodity-linked currencies rose. The Euro was supported by improved regional economic growth data and new assurances by Italian politicians that their nation would not leave the single currency. The greenback was also pressured as worries about a global trade war subsided after OPEC producers announced a perceived modest increase in oil output.
A nearly 5 percent gain in crude oil drove up demand for the commodity-linked Canadian , Australian and New Zealand Dollars .
USD/JPY
The Dollar/Yen finished lower last week despite an attempt by bullish investors to trigger a breakout to the upside. The USD/JPY was pressured by lower U.S. Treasury yields. They fell on flight-to-safety buying due to global equity market weakness fueled by trade war concerns. Steep losses in global equity markets also drove investors into the safe haven Japanese Yen.
The Bank of Japan released the minutes from its April monetary policy meeting last week. The minutes showed a lone BOJ policymaker said additional easing was needed to accelerate inflation, but most members wanted to keep monetary policy unchanged.
The minutes also showed that no board member submitted a formal proposal for additional easing at the meeting in April, although one member advocated speeding up the economy by taking additional easing measures to boost inflation expectations.
Looking ahead, the BOJ may lower its forecasts for consumer price growth at its next meeting in July but is likely to keep monetary policy on hold.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Last week, dollar investors reacted to geopolitical events such as the escalating tensions over trade between the United States and China, U.S. economic data and weaker Treasury yields due to a mixed performance in U.S. equity markets. The Greenback rallied against a basket of currencies as traders bet on an escalating trade war forcing inflation up in the U.S. because of costlier imports, raising the prospect of more interest rate hikes. The Philadelphia Federal Reserve's gauge of U.S. Mid-Atlantic business activity fell to a 1-1/year low, raising concern about the U.S. economy and causing some traders to book profits on bullish dollar bets, analysts said. | Last week, dollar investors reacted to geopolitical events such as the escalating tensions over trade between the United States and China, U.S. economic data and weaker Treasury yields due to a mixed performance in U.S. equity markets. The Greenback rallied against a basket of currencies as traders bet on an escalating trade war forcing inflation up in the U.S. because of costlier imports, raising the prospect of more interest rate hikes. This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Rally Drives Commodity-Linked Currencies Higher, Pressuring Greenback GBP/JPY Weekly Price Forecast - British pound finds support against Japanese yen again The Week Ahead - Trade Tariffs and Economic Data in the Spotlight- 23/06/18 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The U.S. Dollar surged to an 11-month high against a basket of currencies early last week, but ended the week lower, suggesting the rally may have run its course. Last week, dollar investors reacted to geopolitical events such as the escalating tensions over trade between the United States and China, U.S. economic data and weaker Treasury yields due to a mixed performance in U.S. equity markets. This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Rally Drives Commodity-Linked Currencies Higher, Pressuring Greenback GBP/JPY Weekly Price Forecast - British pound finds support against Japanese yen again The Week Ahead - Trade Tariffs and Economic Data in the Spotlight- 23/06/18 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The U.S. Dollar surged to an 11-month high against a basket of currencies early last week, but ended the week lower, suggesting the rally may have run its course. Last week, dollar investors reacted to geopolitical events such as the escalating tensions over trade between the United States and China, U.S. economic data and weaker Treasury yields due to a mixed performance in U.S. equity markets. This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Rally Drives Commodity-Linked Currencies Higher, Pressuring Greenback GBP/JPY Weekly Price Forecast - British pound finds support against Japanese yen again The Week Ahead - Trade Tariffs and Economic Data in the Spotlight- 23/06/18 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | 31c1c6ed-eade-44ee-b971-aff1648c8de2 |
709383.0 | 2018-06-21 00:00:00 UTC | A Dollar Tumble should the Private Sector PMIs Disappoint | DBO | https://www.nasdaq.com/articles/dollar-tumble-should-private-sector-pmis-disappoint-2018-06-21 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was limited to May inflation and prelim manufacturing numbers out of Japan.
For the Japanese Yen , the annual rate of core inflation stood at 0.7% in May, which was in line with forecasts and April's rate, while consumer prices rebounded in May, month-on-month, rising by 0.1%, following April's 0.4% fall.
Rising fuel, light and water charges (+3.1%), medical care (+1.9%) and transportation and communication prices (+1.3%) were attributed to the annual rate of inflation, while a pullback in prices for furniture and household utensils (-1.5%) dragged in May.
Month-on-month, the pickup in consumer prices was attributed to a 1% rise in fuel, light and water charges.
The Japanese Yen moved from ¥109.926 to ¥109.956 upon release of the figures.
Japan's prelim manufacturing PMI rose from 52.8 to 53.1 in May, according to prelim figures, coming in ahead of a forecasted 52.6.
Of immediate concern will be a slide in new export orders and a fall in the pace of new orders, while rising employment supported the positive outlook, despite optimism softening in May.
From a policy perspective, rising input and output prices provided some optimism towards inflation, supported by the pickup in the rate of inflation in May, month-on-month, though the numbers are not compelling enough to suggest a near-term shift in outlook towards BoJ policy, the 1 st quarter contraction in the economy and pullback in new export orders amidst a rising risk of a global trade war being negatives for the BoJ.
The Japanese Yen moved from ¥109.94 to ¥109.953 against the Dollar upon release of the figures, before easing to ¥110 at the time of writing, down 0.01% for the morning.
Elsewhere, the Aussie Dollar and Kiwi Dollar were down 0.04% and by 0.06% respectively, with trade war jitters pinning back the commodity currency pair through the early part of the day.
In the equity markets, it was a mixed bag through the morning, the CSI300 recovering from early losses to a gain of 0.14% at the time of writing, while the Nikkei, Hang Seng and ASX200 were in the red, the Nikkei seeing the heaviest losses, down 0.85% through the early part of the day, the Nikkei's losses coming from an auto stock sell-off in response to Daimler's profit warning resulting from the U.S - China trade war.
The Day Ahead:
For the EUR , it's a relatively busy day on the data front, with prelim June private sector PMI numbers scheduled for release out of France, Germany and the Eurozone, along with final 1 st quarter GDP numbers out of France.
Market sentiment towards the EUR and monetary policy has been particularly negative and even more so in the wake of the ECB press conference and recent Draghi commentary.
With the Dollar having everything to lose and the EUR everything to gain, market sensitivity to the stats will be heightened near-term, especially with the risks of a global trade war lingering.
At the time of writing, the EUR was up 0.07% to $1.1612, with Germany's manufacturing PMI likely to be the key driver, forecasts a negative for the EUR, though there is always Italy to now ruffle the market's feathers.
For the Pound , there are no material stats scheduled for release through the morning, while the BoE quarterly bulletin will be in focus. Thursday's MPC vote count for a rate hike got more hawkish, with the minutes citing a likely uptick in the annual rate of inflation suggesting a possible near-term move supporting the rise in the Pound. Today's bulletin could add more fuel to the policy fire, though Brexit continues to be a major hurdle for the Sterling bulls.
At the time of writing, the Pound was up 0.17% to $1.3263, support continuing in response to Thursday's policy decision and the all-important vote count, with the Bulletin and Brexit chatter in focus through the day ahead.
Across the Pond , key stats out of the U.S are limited to prelim private sector PMI numbers. Following the Dollar slide in response to June's Philly FED Manufacturing PMI and the slide in new orders, pointing to a further slowdown going through the early part of the 3 rd quarter, any contradicting numbers could see a Dollar rebound.
Service sector PMI numbers will be key for the Dollar, though the recent trade war chatter would have increased market sensitivity to the manufacturing numbers, better than expected figures supportive of a Dollar rebound to 95 levels.
At the time of writing, the Dollar Spot Index was down 0.07% to 94.797, with the stats and Trump the key drivers through the day.
Across the border, it's a big day, with key stats through the day including May inflation and retail sales figures. While the stats will influence, the direction of crude oil prices will also need to be considered as OPEC and Russia convene to discuss output in the wake of the U.S withdrawal from the Iran nuclear agreement and falling output out of Venezuela.
It's not as clear cut however, with trade war chatter having weighed heavily on the Loonie through the week, the Loonie currently up 0.12% to C$1.3299 at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | From a policy perspective, rising input and output prices provided some optimism towards inflation, supported by the pickup in the rate of inflation in May, month-on-month, though the numbers are not compelling enough to suggest a near-term shift in outlook towards BoJ policy, the 1 st quarter contraction in the economy and pullback in new export orders amidst a rising risk of a global trade war being negatives for the BoJ. At the time of writing, the Pound was up 0.17% to $1.3263, support continuing in response to Thursday's policy decision and the all-important vote count, with the Bulletin and Brexit chatter in focus through the day ahead. This article was originally posted on FX Empire More From FXEMPIRE: Monero Technical Analysis - Looking for Support Early - 22/06/18 EUR/USD Price Forecast - EUR/USD Holds Fort at 1.16 Ahead of Euro Zone PMI Silver Price Forecast - Silver markets continue to be very noisy on Thursday The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR , it's a relatively busy day on the data front, with prelim June private sector PMI numbers scheduled for release out of France, Germany and the Eurozone, along with final 1 st quarter GDP numbers out of France. Service sector PMI numbers will be key for the Dollar, though the recent trade war chatter would have increased market sensitivity to the manufacturing numbers, better than expected figures supportive of a Dollar rebound to 95 levels. This article was originally posted on FX Empire More From FXEMPIRE: Monero Technical Analysis - Looking for Support Early - 22/06/18 EUR/USD Price Forecast - EUR/USD Holds Fort at 1.16 Ahead of Euro Zone PMI Silver Price Forecast - Silver markets continue to be very noisy on Thursday The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | From a policy perspective, rising input and output prices provided some optimism towards inflation, supported by the pickup in the rate of inflation in May, month-on-month, though the numbers are not compelling enough to suggest a near-term shift in outlook towards BoJ policy, the 1 st quarter contraction in the economy and pullback in new export orders amidst a rising risk of a global trade war being negatives for the BoJ. Service sector PMI numbers will be key for the Dollar, though the recent trade war chatter would have increased market sensitivity to the manufacturing numbers, better than expected figures supportive of a Dollar rebound to 95 levels. This article was originally posted on FX Empire More From FXEMPIRE: Monero Technical Analysis - Looking for Support Early - 22/06/18 EUR/USD Price Forecast - EUR/USD Holds Fort at 1.16 Ahead of Euro Zone PMI Silver Price Forecast - Silver markets continue to be very noisy on Thursday The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | From a policy perspective, rising input and output prices provided some optimism towards inflation, supported by the pickup in the rate of inflation in May, month-on-month, though the numbers are not compelling enough to suggest a near-term shift in outlook towards BoJ policy, the 1 st quarter contraction in the economy and pullback in new export orders amidst a rising risk of a global trade war being negatives for the BoJ. At the time of writing, the Pound was up 0.17% to $1.3263, support continuing in response to Thursday's policy decision and the all-important vote count, with the Bulletin and Brexit chatter in focus through the day ahead. Service sector PMI numbers will be key for the Dollar, though the recent trade war chatter would have increased market sensitivity to the manufacturing numbers, better than expected figures supportive of a Dollar rebound to 95 levels. | 354f55a5-03f2-42a6-80ec-9a2e77a8c75d |
709384.0 | 2018-06-12 00:00:00 UTC | Is PowerShares DB Oil Fund (DBO) a Hot ETF Right Now? | DBO | https://www.nasdaq.com/articles/is-powershares-db-oil-fund-dbo-a-hot-etf-right-now-2018-06-12 | nan | nan | The PowerShares DB Oil Fund (DBO) made its debut on 01/05/2007, and is a smart beta exchange traded fund that provides broad exposure to the Energy ETFs category of the U.S. equity market.
What Are Smart Beta ETFs?
Products that are based on market cap weighted indexes, which are strategies designed to reflect a specific market segment or the market as a whole, have traditionally dominated the ETF industry.
Market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns, and are a good option for investors who believe in market efficiency.
If you're the kind of investor who would rather try and beat the market through good stock selection, then smart beta funds are your best choice; this fund class is known for tracking non-cap weighted strategies.
Non-cap weighted indexes try to choose stocks that have a better chance of risk-return performance, which is based on specific fundamental characteristics, or a mix of other such characteristics.
While this space offers a number of choices to investors, including simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies, not all these strategies have been able to deliver superior results.
Fund Sponsor & Index
Because the fund has amassed over $471.63 M, this makes it one of the largest ETFs in the Energy ETFs. DBO is managed by Invesco Powershares. Before fees and expenses, DBO seeks to match the performance of the DBIQ Optimum Yield Crude Oil Index Excess Return.
The DBIQ Optimum Yield Crude Oil Index Excess Return Index is a rules-based index composed of futures contracts on Light Sweet Crude Oil (WTI) and is intended to reflect the performance of crude oil.
Cost & Other Expenses
Since cheaper funds tend to produce better results than more expensive funds, assuming all other factors remain equal, it is important for investors to pay attention to an ETF's expense ratio.
Annual operating expenses for DBO are 0.75%, which makes it one of the least expensive products in the space.
The fund has a 12-month trailing dividend yield of 0%.
Sector Exposure and Top Holdings
While ETFs offer diversified exposure, which minimizes single stock risk, a deep look into a fund's holdings is a valuable exercise. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
When you look at individual holdings, Nymex Light Sweet Crude Oil Future (CLH9) accounts for about 99.99% of the fund's total assets, followed by United States Treasury Bill and United States Treasury Bill.
Its top 10 holdings account for approximately 200.04% of DBO's total assets under management.
Performance and Risk
The ETF return is roughly 16.75% so far this year and was up about 47.76% in the last one year (as of 06/12/2018). In the past 52-week period, it has traded between $7.44 and $12.64.
The fund has a beta of 0.79 and standard deviation of 30.49% for the trailing three-year period, which makes DBO a high choice in this particular space. With about 10 holdings, it has more concentrated exposure than peers.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center .
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PWRSH-DB OIL FD (DBO): ETF Research Reports
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Before fees and expenses, DBO seeks to match the performance of the DBIQ Optimum Yield Crude Oil Index Excess Return. The fund has a beta of 0.79 and standard deviation of 30.49% for the trailing three-year period, which makes DBO a high choice in this particular space. The PowerShares DB Oil Fund (DBO) made its debut on 01/05/2007, and is a smart beta exchange traded fund that provides broad exposure to the Energy ETFs category of the U.S. equity market. | Before fees and expenses, DBO seeks to match the performance of the DBIQ Optimum Yield Crude Oil Index Excess Return. The PowerShares DB Oil Fund (DBO) made its debut on 01/05/2007, and is a smart beta exchange traded fund that provides broad exposure to the Energy ETFs category of the U.S. equity market. DBO is managed by Invesco Powershares. | The PowerShares DB Oil Fund (DBO) made its debut on 01/05/2007, and is a smart beta exchange traded fund that provides broad exposure to the Energy ETFs category of the U.S. equity market. DBO is managed by Invesco Powershares. Before fees and expenses, DBO seeks to match the performance of the DBIQ Optimum Yield Crude Oil Index Excess Return. | The PowerShares DB Oil Fund (DBO) made its debut on 01/05/2007, and is a smart beta exchange traded fund that provides broad exposure to the Energy ETFs category of the U.S. equity market. Before fees and expenses, DBO seeks to match the performance of the DBIQ Optimum Yield Crude Oil Index Excess Return. The fund has a beta of 0.79 and standard deviation of 30.49% for the trailing three-year period, which makes DBO a high choice in this particular space. | aeeec38d-e303-4aba-aa8f-41743bf747d6 |
709385.0 | 2018-06-04 00:00:00 UTC | Trade War Jitters Continue to Influence ahead of the G7 | DBO | https://www.nasdaq.com/articles/trade-war-jitters-continue-influence-ahead-g7-2018-06-04 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning included the May's BRC Retail Sales Monitor numbers out of the UK, April household spending out of Japan, 1 st quarter current account numbers out of Australia and China's Caixin services PMI figure for May. On the policy front, the RBA is scheduled to announce its June interest rate decision and release its rate statement, which could contain more hawkish language following the latest retail sales and corporate gross operating profit numbers, though concerns over trade wars will likely temper the tone to a certain degree.
For the Japanese Yen , household spending fell by 1.3% year-on-year, coming in short of a forecasted 0.8% rise, following March's 0.1% fall.
Month-on month, spending fell by 1.6%, also falling short of a forecasted 0.7% rise, following March's 0.1% decline.
The year on year decline was attributed to a 5.6% fall in spending on fuel, light and water charges, a 3.8% fall in spending on culture and recreation, a 2.5% fall in spending on clothing & footwear and a 1.2% fall in spending on transportation and communication, with spending on food down 0.8%.
Partially offsetting the decline were a 9.9% rise in spending on furniture and household utensils, a 3% rise in spending on housing and a 2.5% rise in spending on education.
The Japanese Yen moved from ¥106.920 to ¥109.952 against the Dollar upon release of the figures, before moving to ¥109.89 at the time of writing, down 0.06% for the morning, the household spending numbers yet more bad news for the BoJ.
For the Aussie Dollar , the current account surplus narrowed from A$14bn to A$10.5bn in the 1 st quarter, which was better than a forecasted narrowing to A$10bn.
The Aussie Dollar moved from $0.076442 to $0.0.76464 upon release of the figures, with the Aussie Dollar having found strength off the back of the retail sales figures released on Monday.
Out of China , the Caixin Services PMI held steady at 52.9 in May, which was in line with forecasts.
The rate of activity growth remained unchanged from April, while new business saw a pickup in pace, supported by stronger client demand and new product offerings.
In contrast to the manufacturing sector, the services sector continued to hire, with the rate of job creation the quickest in the last 4-months.
As a result of a quicker pace of hiring, backlogs declined, with the pace of hiring reflecting improved optimism in the sector.
The Aussie Dollar moved from $0.76464 to $0.76424 upon release of the figures. At the time of writing, the Aussie Dollar was down 0.09% to $0.7641, with focus shifting to the RBA interest rate decision and rate statement.
In the equity markets, it was a mixed morning, the Nikkei and CSI300 in positive territory at the time of writing, while the Hang Seng and ASX200 were in the red, down 0.17% and by 0.31% respectively, market sentiment mixed with optimism over the U.S economy being offset by concerns of a trade war and an escalation of rhetoric going into Friday's G7.
The Day Ahead:
For the EUR , economic data scheduled for release through the day includes May's finalized service PMI numbers, together with the Eurozone's April retail sales figures.
Consumer spending numbers out of Germany had impressed last week, while France's numbers disappointed, which should pin back any major jump, leaving focus on the finalized service sector PMI numbers, any upward revisions EUR positive, with Spain and Italy's numbers forecasted to show a pickup in activity from April.
Outside of the data, the markets will continue to keep an eye on Italy and Spain, with the respective governments now in the process of settling in for the long haul, which will likely create some noise in the coming weeks, particularly in Italy, the Spanish Prime Minister looking to maintain status quo with a minority government.
At the time of writing, the EUR was down 0.06% to $1.1692, today's stats, political noise and trade tariff chatter in focus, while ECB President Draghi could provide some direction this afternoon should any references be made to policy, inflation or the economy in general.
For the Pound , following a steady construction PMI and rise in the manufacturing PMI, focus now shifts to May's service sector PMI that could provide the Pound with a boost should the numbers be in line with or better than forecasted.
The survey based numbers have been of material influence to the BoE's sentiment towards the economy and monetary policy, a full suite of positive numbers supporting a more hawkish stance, though Brexit and the threat of a disruption to the global economy by way of a trade war may leave Carney and the team on a more cautious footing and that's before considering Brexit.
Earlier in the day, the UK's BRC Retail Sales Monitor impressed, sales up 2.8% year-on-year in May, coming in ahead of a forecasted 0.8% decline, partially reversing April's 4.2% slide.
The Pound was down 0.02% to $1.3311 at the time of writing, with today's PMI number and Brexit chatter in focus, with talk of a free trade agreement with the U.S likely to begin garnering some attention.
Across the Pond, economic data scheduled for release through the day includes April's JOLTs job openings that will likely have less of an influence than normal, following last week's nonfarm payroll numbers, with May's service sector PMI numbers also scheduled for release by the ISM and by Markiteconomics. The market's preferred ISM PMI numbers will be the key driver, with forecasts being Dollar positive, as the U.S economy gains momentum through the 2 nd quarter.
Outside of the stats, trade tariff noise from the Oval Office will also be a factor, as will be any updates on the North Korean Summit next week.
At the time of writing, the Dollar Spot Index was up 0.04% to 94.07, with today's ISM manufacturing PMI and any noise from China and the Oval Office the key drivers through the day.
Across the border, the Loonie is back in action this afternoon, with 1 st quarter labour productivity numbers scheduled for release. While forecasts are Loonie positive, NAFTA noise will also be an influence, though there's unlikely to be any progress to cause any major moves through the day.
The Loonie was up 0.03% to C$1.2927 at the time of writing, with today's stats, the Oval Office and crude oil to provide direction through the day.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | At the time of writing, the EUR was down 0.06% to $1.1692, today's stats, political noise and trade tariff chatter in focus, while ECB President Draghi could provide some direction this afternoon should any references be made to policy, inflation or the economy in general. The Pound was down 0.02% to $1.3311 at the time of writing, with today's PMI number and Brexit chatter in focus, with talk of a free trade agreement with the U.S likely to begin garnering some attention. At the time of writing, the Dollar Spot Index was up 0.04% to 94.07, with today's ISM manufacturing PMI and any noise from China and the Oval Office the key drivers through the day. | Earlier in the Day: Economic data released through the Asian session this morning included the May's BRC Retail Sales Monitor numbers out of the UK, April household spending out of Japan, 1 st quarter current account numbers out of Australia and China's Caixin services PMI figure for May. Consumer spending numbers out of Germany had impressed last week, while France's numbers disappointed, which should pin back any major jump, leaving focus on the finalized service sector PMI numbers, any upward revisions EUR positive, with Spain and Italy's numbers forecasted to show a pickup in activity from April. Earlier in the day, the UK's BRC Retail Sales Monitor impressed, sales up 2.8% year-on-year in May, coming in ahead of a forecasted 0.8% decline, partially reversing April's 4.2% slide. | Earlier in the Day: Economic data released through the Asian session this morning included the May's BRC Retail Sales Monitor numbers out of the UK, April household spending out of Japan, 1 st quarter current account numbers out of Australia and China's Caixin services PMI figure for May. Consumer spending numbers out of Germany had impressed last week, while France's numbers disappointed, which should pin back any major jump, leaving focus on the finalized service sector PMI numbers, any upward revisions EUR positive, with Spain and Italy's numbers forecasted to show a pickup in activity from April. Across the Pond, economic data scheduled for release through the day includes April's JOLTs job openings that will likely have less of an influence than normal, following last week's nonfarm payroll numbers, with May's service sector PMI numbers also scheduled for release by the ISM and by Markiteconomics. | Earlier in the Day: Economic data released through the Asian session this morning included the May's BRC Retail Sales Monitor numbers out of the UK, April household spending out of Japan, 1 st quarter current account numbers out of Australia and China's Caixin services PMI figure for May. The Aussie Dollar moved from $0.076442 to $0.0.76464 upon release of the figures, with the Aussie Dollar having found strength off the back of the retail sales figures released on Monday. Consumer spending numbers out of Germany had impressed last week, while France's numbers disappointed, which should pin back any major jump, leaving focus on the finalized service sector PMI numbers, any upward revisions EUR positive, with Spain and Italy's numbers forecasted to show a pickup in activity from April. | a3a9c24b-dbb8-47d7-9345-e13ec0d143da |
709386.0 | 2018-06-01 00:00:00 UTC | DBO, QDEU: Big ETF Inflows | DBO | https://www.nasdaq.com/articles/dbo-qdeu-big-etf-inflows-2018-06-01 | nan | nan | Comparing units outstanding versus one week ago at the coverage universe of ETFs at ETF Channel, the biggest inflow was seen in the PowerShares DB Oil Fund ( DBO ), which added 5,000,000 units, or a 15.9% increase week over week. Among the largest underlying components of DBO, in morning trading today Powershares Treasury Collateral Portfolio ( CLTL ) is trading flat.
And on a percentage change basis, the ETF with the biggest increase in inflows was the SPDR MSCI Germany StrategicFactors ETF ( QDEU ), which added 50,000 units, for a 33.3% increase in outstanding units.
VIDEO: DBO, QDEU: Big ETF Inflows
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Comparing units outstanding versus one week ago at the coverage universe of ETFs at ETF Channel, the biggest inflow was seen in the PowerShares DB Oil Fund ( DBO ), which added 5,000,000 units, or a 15.9% increase week over week. VIDEO: DBO, QDEU: Big ETF Inflows The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Among the largest underlying components of DBO, in morning trading today Powershares Treasury Collateral Portfolio ( CLTL ) is trading flat. | VIDEO: DBO, QDEU: Big ETF Inflows The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Comparing units outstanding versus one week ago at the coverage universe of ETFs at ETF Channel, the biggest inflow was seen in the PowerShares DB Oil Fund ( DBO ), which added 5,000,000 units, or a 15.9% increase week over week. Among the largest underlying components of DBO, in morning trading today Powershares Treasury Collateral Portfolio ( CLTL ) is trading flat. | Comparing units outstanding versus one week ago at the coverage universe of ETFs at ETF Channel, the biggest inflow was seen in the PowerShares DB Oil Fund ( DBO ), which added 5,000,000 units, or a 15.9% increase week over week. VIDEO: DBO, QDEU: Big ETF Inflows The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Among the largest underlying components of DBO, in morning trading today Powershares Treasury Collateral Portfolio ( CLTL ) is trading flat. | Comparing units outstanding versus one week ago at the coverage universe of ETFs at ETF Channel, the biggest inflow was seen in the PowerShares DB Oil Fund ( DBO ), which added 5,000,000 units, or a 15.9% increase week over week. Among the largest underlying components of DBO, in morning trading today Powershares Treasury Collateral Portfolio ( CLTL ) is trading flat. VIDEO: DBO, QDEU: Big ETF Inflows The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | 137bb5a6-a710-4bf2-9175-c3c2c6b00825 |
709387.0 | 2018-05-31 00:00:00 UTC | U.S Inflation and Trump to Drive the USD, with an Eye on Italy | DBO | https://www.nasdaq.com/articles/us-inflation-and-trump-drive-usd-eye-italy-2018-05-31 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was on the heavier side and included industrial production numbers out of Japan, May private sector PMI numbers out of China, business confidence figures out of New Zealand and private sector new CAPEX and credit figures out of Australia.
For the Japanese Yen , industrial production rose by just 0.3% in April, falling short of a forecasted 1.5% increase and March's 1.4% rise, according to prelim figures.
Industries that contributed to the increase included transport equipment, general purpose, production and business orientated machinery and fabricated metals.
Industries that weighed included electronics parts and devices, electrical machinery and chemicals (excl. drugs).
Forecasts are for industrial production to rise by 0.3% in May, revised up from last month's 1.6% fall, while production in June forecasted to fall by 0.8%.
The Japanese Yen moved from ¥108.749 to ¥108.674 against the Dollar, upon release of the figures, before rising to ¥108.66 at the time of writing, up 0.23% for the morning, the Yen showing little response to the soft numbers going into the 2 nd quarter.
Out of China , May's private sector PMI numbers impressed. The manufacturing PMI rose from 51.4 to 51.9, coming in well ahead of a forecasted 51.3, while the non-manufacturing PMI rose from 54.8 to 54.9, coming in ahead of a forecasted 54.8.
The Aussie Dollar moved from $0.7576 to $0.75692 upon released of the figures. The better than expected PMI numbers providing little support as concerns over a possible trade war offset any upbeat sentiment towards the Chinese economy.
For the Kiwi Dollar , business confidence reversed in May, with the ANZ Business Confidence Index showing that 27% of businesses are pessimistic about the year ahead, down 4 points from April's 23%.
Adding to the negativity was a 4 point fall in the ANZ Own Activity Index, the index falling from +18 to +14, the lowest level since November of last year, a 10 point slide in the retail sector sub-index weighing heavily.
Looking at the activity indicators:
Employment intentions eased from +9% to +7%.
Profit expectations fell from -1% to -9%.
Export intentions fell by 10 points to +13%, despite the weaker Kiwi Dollar.
A net 28% of businesses expect it to be tougher to get credit, up from 26% in April.
The softer number was attributed to negative sentiment across the retail and construction sectors
The Kiwi Dollar moved from $0.6988 to $0.6792 upon release of the figures before recovering to $0.6987 at the time of writing, down 0.01% for the morning.
For the Aussie Dollar ,
Private new capital expenditures rose by 0.4% in the 1 st quarter, falling short of a forecasted 0.8% rise, following a 4 th quarter upwardly revised 0.2% increase.
Expenditure on buildings and structures fell by 1.3%, while expenditures on equipment, plant and machinery rose by 2.5%.
The fall in expenditures on buildings and structures was attributed to a 15.8% fall in manufacturing CAPEX, with other selected industries falling by 1.8%, while mining CAPEX rose by 0.8%.
The rise in expenditures on equipment plant and machinery was attributed to a 2.9% rise in mining CAPEX, with CAPEX in manufacturing and other selected industries rising by 1.8% and by 2.5% respectively.
By industry, total mining CAPEX rose by 1.2%, while manufacturing CAPEX fell by 3.4%. CAPEX in other selected industries rose by just 0.5% in the 1 st
Private sector credit rose by 0.4% in April, which was in line with forecasts, whilst easing from a 0.5% rise in March.
The Aussie Dollar moved from $0.75667 to $0.75577 upon release of the figures, before easing further to $0.7561 at the time of writing, down 0.18% for the morning, the weaker Aussie stats weighing through the morning.
In the equity markets, it was risk-on, with the CSI300 leading the way, up 1.56% off the back of the better than expected PMI numbers and easing concerns over Italy. The Nikkei and Hang Seng were up 0.8% and by 0.75% at the time of writing, while the ASX200 managed to move back through to 6,000 levels with a 0.41% rise ahead of the close.
The Day Ahead:
For the EUR , economic data scheduled for release this morning includes May's prelim inflation figures out of France, Italy and the Eurozone, 2 nd estimate GDP numbers out of Spain for the 1 st quarter and the Eurozone's April unemployment rate.
While we will expect the Eurozone's May inflation figures to influence the EUR this morning, political noise from Italy and Spain will continue to be the key drivers near-term, the EUR finding its feet on Wednesday, following a decision by Italian President Mattarella to give the Five Star - League coalition more time to form government.
It was a salvage operation by the Establishment to avoid a snap election that could have spelled the end of Italy's membership in the EUR.
The EUR is not completely free from the region's political woes however, with Rajoy also under pressure ahead of tomorrow's vote of no confidence.
At the time of writing, the EUR was down 0.01% to $1.1664, today's stats and political noise the key drivers through the day.
For the Pound , stats are limited to housing sector data that are unlikely to have a material impact on the Pound through the day, easing demand for the Dollar having provided the Pound with much needed support on Wednesday.
The Pound was up 0.14% to $1.3304 at the time of writing, supported by the risk-on sentiment through the morning, though a reversal could come at any time should there be any Brexit chatter from Brussels.
Across the Pond, key stats through the day include the FED's preferred core PCE price index and deflator numbers, personal spending figures, the Chicago PMI, pending home sales data and the weekly jobless claims numbers.
Following the weaker than expected ADP nonfarm employment numbers on Wednesday, there will be greater influence than normal from the weekly jobless claims numbers, though it's going to boil down to April's inflation and personal spending numbers. Forecasts are for inflation to soften in April, while spending is expected to see the same pace of growth, which would be a Dollar negative scenario, softer inflation easing pressure on the FED to project a 4 th rate hike for the year at next month's meeting.
At the time of writing, the Dollar Spot Index was down 0.03% to 94.045, recovering from the morning's 94.012 low, with today's stats, the Oval Office and FOMC member Bostic to provide direction through the day.
Across the border, 1 st quarter and March GDP numbers will be the key driver for the Loonie on the data front, while market risk appetite and crude oil prices will also influence.
At the time of writing, the Loonie was up 0.04% to C$1.2868 against the U.S Dollar, the Wednesday rally coming off the back of a more hawkish than anticipated Bank of Canada and a shift in market risk appetite through the day that supported a bounce back in crude oil prices . With the BoC eyeing a summer rate hike, today's stats will certainly have an impact on the Loonie.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The softer number was attributed to negative sentiment across the retail and construction sectors The Kiwi Dollar moved from $0.6988 to $0.6792 upon release of the figures before recovering to $0.6987 at the time of writing, down 0.01% for the morning. At the time of writing, the Dollar Spot Index was down 0.03% to 94.045, recovering from the morning's 94.012 low, with today's stats, the Oval Office and FOMC member Bostic to provide direction through the day. Across the border, 1 st quarter and March GDP numbers will be the key driver for the Loonie on the data front, while market risk appetite and crude oil prices will also influence. | Earlier in the Day: Economic data released through the Asian session this morning was on the heavier side and included industrial production numbers out of Japan, May private sector PMI numbers out of China, business confidence figures out of New Zealand and private sector new CAPEX and credit figures out of Australia. The Day Ahead: For the EUR , economic data scheduled for release this morning includes May's prelim inflation figures out of France, Italy and the Eurozone, 2 nd estimate GDP numbers out of Spain for the 1 st quarter and the Eurozone's April unemployment rate. Across the Pond, key stats through the day include the FED's preferred core PCE price index and deflator numbers, personal spending figures, the Chicago PMI, pending home sales data and the weekly jobless claims numbers. | Earlier in the Day: Economic data released through the Asian session this morning was on the heavier side and included industrial production numbers out of Japan, May private sector PMI numbers out of China, business confidence figures out of New Zealand and private sector new CAPEX and credit figures out of Australia. The Aussie Dollar moved from $0.75667 to $0.75577 upon release of the figures, before easing further to $0.7561 at the time of writing, down 0.18% for the morning, the weaker Aussie stats weighing through the morning. The Day Ahead: For the EUR , economic data scheduled for release this morning includes May's prelim inflation figures out of France, Italy and the Eurozone, 2 nd estimate GDP numbers out of Spain for the 1 st quarter and the Eurozone's April unemployment rate. | Earlier in the Day: Economic data released through the Asian session this morning was on the heavier side and included industrial production numbers out of Japan, May private sector PMI numbers out of China, business confidence figures out of New Zealand and private sector new CAPEX and credit figures out of Australia. At the time of writing, the EUR was down 0.01% to $1.1664, today's stats and political noise the key drivers through the day. The Pound was up 0.14% to $1.3304 at the time of writing, supported by the risk-on sentiment through the morning, though a reversal could come at any time should there be any Brexit chatter from Brussels. | 3123adf4-c419-4121-9d01-2cce9c694c04 |
709388.0 | 2018-05-30 00:00:00 UTC | Geo-Politics Holds Center Stage, with the USD and EUR in Focus | DBO | https://www.nasdaq.com/articles/geo-politics-holds-center-stage-usd-and-eur-focus-2018-05-30 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning included April building consent numbers out of New Zealand, Japan's retail sales figures and April building approval numbers out of Australia.
For the Kiwi Dollar , building consents fell by 3.7%, partially reversing March's downwardly revised 13% rise.
The Kiwi Dollar moved from $0.69007 to $0.68921 upon release of the figures before recovering to $0.69 levels at the time of writing, the Kiwi Dollar up 0.10% to $0.6910.
For the Japanese Yen , retail sales finally provide some good news for the Japanese economy, with April sales up 1.6% year-on-year, coming in ahead of a forecasted 0.9% following March's 1% rise.
The Japanese Yen moved from ¥108.337 to ¥108.483 against the Dollar, upon release of the figures, before easing to ¥108.63 at the time of writing, up 0.13% for the morning, with risk off sentiment driving the Yen through the morning.
For the Aussie Dollar , building approvals fell by 5% in April, which was worse than a forecasted 3% fall, while more than reversing March's upwardly revised 3.5% rise.
The 5% fall was attributed to an 11.5% slide in approvals for private sector dwellings excluding houses, private sector houses rising by 0.1% in April, according to figures released by the ABS.
The Aussie Dollar moved from $0.74934 to $0.75003 upon release of the figures, before easing back to $0.7496 at the time of writing, down 0.13% for the morning, the soft numbers another reason for the RBA to be concerned over the construction sector.
In the equity markets, the risk off sentiment continued to jolt the markets, with concerns over the future of the Eurozone and renewed trade war jitters doing the damage, the latest Oval Office flip flop on trade tariffs overnight putting back on the table the original planned tariff of $50bn on Chinese imported goods.
The Nikkei was down 1.79% at the time of writing, the stronger Yen contributing to the losses, with the CSI300 and Hang Seng down 1.53% and 1.3% respectively, while the ASX200 was down 0.51%, as the markets continued to respond to the plethora of geo-political risk drivers currently circling overhead, with Iran and North Korea certainly not to be forgotten.
The Day Ahead:
For the EUR , it's a busy day ahead on theeconomic calendar with key stats scheduled through the day including German and French April retail sales figures, 2 nd estimate GDP numbers out of France, May's prelim inflation figures out of Spain and Germany and May unemployment numbers out of Germany.
Barring any deviation in the 2 nd estimate GDP numbers out of France, focus will be on the rest of the numbers, with any pickup in inflation likely to provide the EUR with some much needed support, though market sentiment towards Italy and Spain and possible ramifications for the Eurozone will likely overshadow the numbers this morning.
All eyes will be on the presidential palace, with talks between caretaker Prime Minister Cottarelli and President Mattarella expected to resume in a bid to deliver a cabinet and ease some of the market panic that set in at the start of the week, though the call for fresh elections and a rise in anti-Establishment support following the collapse of the Five Star - League coalition on the weekend will continue to be a worry.
At the time of writing, the EUR was down 0.04% to $1.1535, European politics continuing to take centre stage for the EUR through the day.
For the Pound , there are no material stats scheduled for release through the day, leaving focus elsewhere, though negative sentiment towards Brexit negotiations remains a negative for the Pound, with talks of a second EU Referendum doing the rounds again.
The Pound was up 0.04% to $1.3254 at the time of writing, with Tuesday's slide a reminder of just how much influence sentiment towards Brexit has on the Pound, irrespective of monetary policy.
Across the Pond, key stats through the day include May's ADP nonfarm employment change figures, 2 nd estimate GDP numbers for the 1 st quarter and April trade figures.
Sentiment towards the U.S economy has improved through the 2 nd quarter, but with the U.S administration's threat of introducing the tariffs on $50bn worth of Chinese goods ahead of scheduled weekend trade talks, the data may well end up taking a backseat, with the markets likely to be more interested in tomorrow's inflation numbers and wage growth figures due out on Friday.
At the time of writing, the Dollar Spot Index was up 0.07% to 94.885, easing back from morning highs, with the softer EUR having provided the Dollar with upside through the early part of the day.
Across the border, it's a big day for the Loonie, which pulled back to $1.30 levels on Tuesday, with market focus being on the Bank of Canada's interest rate decision and, more importantly, the rate statement, few if any expecting the BoC to make a move this afternoon.
Ahead of the May decision, 1 st quarter current account and April RMPI numbers will be in focus, though we would expect any moves in response to the data to be short lived.
At the time of writing, the Loonie was down 0.08% to C$1.3029 against the U.S Dollar, with any suggestions of an end to rate hikes for the year likely to weigh more heavily later in the day, the Loonie having already lost its Crude Oil safety blanket.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | All eyes will be on the presidential palace, with talks between caretaker Prime Minister Cottarelli and President Mattarella expected to resume in a bid to deliver a cabinet and ease some of the market panic that set in at the start of the week, though the call for fresh elections and a rise in anti-Establishment support following the collapse of the Five Star - League coalition on the weekend will continue to be a worry. Sentiment towards the U.S economy has improved through the 2 nd quarter, but with the U.S administration's threat of introducing the tariffs on $50bn worth of Chinese goods ahead of scheduled weekend trade talks, the data may well end up taking a backseat, with the markets likely to be more interested in tomorrow's inflation numbers and wage growth figures due out on Friday. This article was originally posted on FX Empire More From FXEMPIRE: Ethereum markets rally on Tuesday Gold Price Futures (GC) Technical Analysis - Needs to Confirm Last Week's Reversal Bottom to Turn Bullish Is Bitcoin a Leading Indicator for Stocks? | For the Kiwi Dollar , building consents fell by 3.7%, partially reversing March's downwardly revised 13% rise. The 5% fall was attributed to an 11.5% slide in approvals for private sector dwellings excluding houses, private sector houses rising by 0.1% in April, according to figures released by the ABS. The Day Ahead: For the EUR , it's a busy day ahead on theeconomic calendar with key stats scheduled through the day including German and French April retail sales figures, 2 nd estimate GDP numbers out of France, May's prelim inflation figures out of Spain and Germany and May unemployment numbers out of Germany. | Earlier in the Day: Economic data released through the Asian session this morning included April building consent numbers out of New Zealand, Japan's retail sales figures and April building approval numbers out of Australia. The Japanese Yen moved from ¥108.337 to ¥108.483 against the Dollar, upon release of the figures, before easing to ¥108.63 at the time of writing, up 0.13% for the morning, with risk off sentiment driving the Yen through the morning. The Day Ahead: For the EUR , it's a busy day ahead on theeconomic calendar with key stats scheduled through the day including German and French April retail sales figures, 2 nd estimate GDP numbers out of France, May's prelim inflation figures out of Spain and Germany and May unemployment numbers out of Germany. | Earlier in the Day: Economic data released through the Asian session this morning included April building consent numbers out of New Zealand, Japan's retail sales figures and April building approval numbers out of Australia. The Japanese Yen moved from ¥108.337 to ¥108.483 against the Dollar, upon release of the figures, before easing to ¥108.63 at the time of writing, up 0.13% for the morning, with risk off sentiment driving the Yen through the morning. The Day Ahead: For the EUR , it's a busy day ahead on theeconomic calendar with key stats scheduled through the day including German and French April retail sales figures, 2 nd estimate GDP numbers out of France, May's prelim inflation figures out of Spain and Germany and May unemployment numbers out of Germany. | 78706c0a-5afc-4a34-a92b-c56217443fc5 |
709389.0 | 2018-05-23 00:00:00 UTC | Inflation and FOMC Minutes to Drive the GBP and USD | DBO | https://www.nasdaq.com/articles/inflation-and-fomc-minutes-drive-gbp-and-usd-2018-05-23 | nan | nan | Earlier in the Day:
Key economic data released through the Asian session this morning was limited to 1 st quarter construction work figures out of Australia and prelim May manufacturing PMI numbers out of Japan.
For the Japanese Yen, the Manufacturing PMI stood at 52.5 in May, according to prelim figures, falling short of a forecasted 53.6, with the pace of expansion slowing from April's 53.8.
Following a disappointing first quarter for the Japanese economy, the latest PMI numbers will have provided little comfort, with new order growth easing to a 9-month low and backlogs rising at a slower pace, leading to an easing in the pace of hiring. On the positive side, new export orders saw a pickup in pace, supported by the weaker Japanese Yen, with wholesale price inflation also accelerating.
The Japanese Yen moved from ¥110.815 to $110.856 against the Dollar, upon release of the figures, before rising to ¥110.49 at the time of writing, up 0.37% for the session, appetite for the Yen on the rise through the session, as geo-political risk weighed on market risk appetite.
For the Aussie Dollar, 1 st quarter construction rose by 0.2%, quarter-on-quarter, supported by a 1.5% rise in engineering work done and 0.4% rise in residential work done. Building and non-residential work done fell in the 1 st quarter, with non-residential work done falling by 2.6%.
The Aussie Dollar moved from $0.75769 to $0.75611 upon release of the figures, before moving to $0.7555 at the time of writing, down 0.28% for the session, risk off sentiment through the morning weighing.
In the equity markets, it was a sea of red early in the day, with the Nikkei sliding 1.2% off the back of disappointing PMI numbers, a stronger Yen, Trump's discontent over U.S - China trade talks and concerns over the prospects of a North Korean Summit with the U.S. The Hang Seng and CSI300 were down 0.98% and 0.78% respectively. For the ASX200, it could be a 5 th consecutive day in the red, down 0.09% at the time of writing, the shift in sentiment seeing the index cough up gains from the start of the day.
The Day Ahead:
For the EUR , after a particularly quiet start to the week, May's prelim private sector PMI numbers out of France, Germany and the Eurozone will provide direction, focus likely to be on wholesale inflation numbers and new orders and Germany's numbers in particular, following the soft 1 st quarter growth figures released last week. Nonfarm payroll figures out of France ahead of the PMI numbers will likely have a muted impact.
On the data front, PMI forecasts are for a further softening that would be a negative for the EUR, with the Italian coalition government and general sentiment towards the Eurozone economy and outlook for policy also negatives mid-way through the 2 nd quarter.
At the time of writing, the EUR down 0.15% to $1.1761, geo-politics and today's stats the key drivers ahead of tomorrow's release of the ECB's monetary policy meeting minutes.
For the Pound , it's a big day, with April's inflation figures scheduled for release this morning, together with house price figures that will likely be ignored. March's figures had contributed to a material shift in sentiment towards monetary policy in the run up to the May policy meeting, giving today's figures particular relevance ahead of tomorrow's retail sales figures.
In line with or better than forecasted figures should be a positive for the Pound, with the annual rate of inflation forecasted to hold steady at 2.5%, supported by a 0.5% rise in consumer prices, month-on-month, with producer input prices also forecasted to jump by 1% in April.
At the time of writing, the Pound was down 0.15% to $1.3412, with today's stats and sentiment towards tomorrow's retail sales figures taking centre stage.
Across the Pond, it's also a big day for the Greenback, April's prelim private sector PMI numbers scheduled for release, together with April new home sales figures, with the release of the FOMC meeting minutes later in the day the key driver for the Dollar today.
There's been plenty of debate over how the FED has interpreted the recent improvement in economic indicators and rise in inflationary pressures, with FOMC members having contrasting views on whether the FED should or needs to take a more aggressive rate path through the remainder of the year.
While the markets will need to wait for next month to reassess the median forecasts, a green light for a June rate hike will be a must for the chance of a 4 th rate hike for the year to remain priced in. Anything dovish and there's a lot of ground for the Dollar to give up in response.
Ahead of the minutes, prelim manufacturing and service sector PMI numbers out will provide some direction, with service sector numbers needing to continue impressing to support a pickup in economic growth in the 2 nd quarter.
At the time of writing, the Dollar Spot Index was up 0.08% to 93.682, direction through the day coming from today's stats and FOMC minutes, with the Oval Office always in the picture.
For the Loonie, there's no action today on the data front, with the risk off sentiment and pullback in crude oil prices weighing early in the day, the Loonie down 0.24% to C$1.285 against the Greenback, though NAFTA talks could deliver for the Loonie at any time.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Key economic data released through the Asian session this morning was limited to 1 st quarter construction work figures out of Australia and prelim May manufacturing PMI numbers out of Japan. In the equity markets, it was a sea of red early in the day, with the Nikkei sliding 1.2% off the back of disappointing PMI numbers, a stronger Yen, Trump's discontent over U.S - China trade talks and concerns over the prospects of a North Korean Summit with the U.S. At the time of writing, the EUR down 0.15% to $1.1761, geo-politics and today's stats the key drivers ahead of tomorrow's release of the ECB's monetary policy meeting minutes. | At the time of writing, the EUR down 0.15% to $1.1761, geo-politics and today's stats the key drivers ahead of tomorrow's release of the ECB's monetary policy meeting minutes. Across the Pond, it's also a big day for the Greenback, April's prelim private sector PMI numbers scheduled for release, together with April new home sales figures, with the release of the FOMC meeting minutes later in the day the key driver for the Dollar today. Ahead of the minutes, prelim manufacturing and service sector PMI numbers out will provide some direction, with service sector numbers needing to continue impressing to support a pickup in economic growth in the 2 nd quarter. | The Japanese Yen moved from ¥110.815 to $110.856 against the Dollar, upon release of the figures, before rising to ¥110.49 at the time of writing, up 0.37% for the session, appetite for the Yen on the rise through the session, as geo-political risk weighed on market risk appetite. The Day Ahead: For the EUR , after a particularly quiet start to the week, May's prelim private sector PMI numbers out of France, Germany and the Eurozone will provide direction, focus likely to be on wholesale inflation numbers and new orders and Germany's numbers in particular, following the soft 1 st quarter growth figures released last week. Across the Pond, it's also a big day for the Greenback, April's prelim private sector PMI numbers scheduled for release, together with April new home sales figures, with the release of the FOMC meeting minutes later in the day the key driver for the Dollar today. | Earlier in the Day: Key economic data released through the Asian session this morning was limited to 1 st quarter construction work figures out of Australia and prelim May manufacturing PMI numbers out of Japan. The Aussie Dollar moved from $0.75769 to $0.75611 upon release of the figures, before moving to $0.7555 at the time of writing, down 0.28% for the session, risk off sentiment through the morning weighing. Across the Pond, it's also a big day for the Greenback, April's prelim private sector PMI numbers scheduled for release, together with April new home sales figures, with the release of the FOMC meeting minutes later in the day the key driver for the Dollar today. | b38d3455-e17a-4f2a-a85b-3b4cfe6bbc99 |
709390.0 | 2018-05-22 00:00:00 UTC | BoE Governor Carney and the GBP in Focus | DBO | https://www.nasdaq.com/articles/boe-governor-carney-and-gbp-focus-2018-05-22 | nan | nan | Earlier in the Day:
It was a particularly quiet Asian session on the economic data front, with no material stats released, leaving the markets to consider current positions and what lies ahead, with a mass of central bankers scheduled to speak, non-voting members Harker and Kashkari having shared their relatively dovish views overnight.
The morning saw the Greenback in reverse, providing some much needed respite to the majors, with the Japanese Yan up 0.09% to ¥110.95 at the time of writing, supported by a sell-off in the Asian equity markets, the majors ignoring the Monday gains in the U.S and an easing in the risk of a U.S - China trade war.
In spite of the softer U.S Dollar, the Aussie Dollar gave up some of Monday's gains, down 0.07% to $0.7577, while the Kiwi Dollar down just 0.01% to $0.6945, the Kiwi Dollar looking ahead to April's trade figures due out on Thursday.
In the equity markets, the ASX200 was going for its 4 th consecutive day in the red, down 0.80% at the time of writing, while the Nikkei and CSI300 were down 0.13% and 0.72% respectively, the HK markets closed for the day.
Moves through the morning suggested that the Asian markets may not be as convinced of a path towards a reasonable resolution to the current trade dispute between the U.S and China, with a slide in metal prices doing little to help the cause for the ASX200 at least.
There's a long way to go before the U.S and China reach any kind of consensus on trade, if the NAFTA talks are anything to go by, and the long road will certainly support a pickup in volatility across the equity markets and commodity currencies.
The Day Ahead:
For the EUR , it's another quiet day on theeconomic calendar with no material stats scheduled for release through the day.
Rising borrowing costs in Italy, following the 5 Star - League coalition announcement will be of particular concern for the markets, with the market's fear being a repeat of the Greek crisis just a few years ago, the coalition government expected to deliver a number of demands to Brussels that are unlikely to be well received.
Developments in Italy will continue to impact the EUR for some time, with the Italian collation government's intention to increase spending and cut taxes expected to deliver a blow to the Eurozone's 3 rd largest economy.
With the ECB monetary policy meeting minutes out on Thursday and prelim May private sector PMI numbers due out tomorrow, $1.16 levels could come into play in the coming week, though it's not just the ECB meeting minutes the markets will need to contend with, as the FED releases its minutes the day prior to the ECB's.
At the time of writing, the EUR down 0.15% to $1.1754, with sentiment towards Italy weighing through the morning and likely to pin back any major moves through the day.
For the Pound , it's the calm before the storm, with economic data scheduled for release today limited to May's CBI Industrial Trend Orders figures.
While the numbers traditionally have an influence on the Pound, BoE Monetary Policy Committee members Ramsden, Saunders, Vlieghe and Bank of England Governor Carney could steal the show this morning, should any references to monetary policy be made.
Carney and team could certainly provide the Pound with direction today, though with inflation and retail sales figures scheduled for release on Wednesday and Thursday, MPC members may decide to tone it down, the outlook for monetary policy through the middle of this year likely to be hinged on this week's numbers.
At the time of writing, the Pound was down 0.07% to $1.3417, with any noise from Brussels on Brexit also a factor, though the Establishment may have its hands full with an anti-EU government now in the heart of Europe.
Across the Pond, it's another quiet day on the data front, with no material stats scheduled for release leaving the markets to consider the Red Book's release this afternoon, ahead of tomorrow's private sector PMI numbers and all-important FOMC policy meeting minutes.
At the time of writing, the Dollar Spot Index was down 0.06% to 93.618, with direction through the day likely to be hinged on noise from the Oval Office and market sentiment towards the U.S administration's announcement to hit the pause button on trade China tariffs.
Across the border, the Loonie's back in action, with May wholesale sales figures scheduled for release, focus expected to move back to the data near-term as NAFTA trade talks continue on in the background. Today's figures are forecasted to be Loonie positive, with more support expected from another move in crude oil prices .
At the time of writing, the Loonie was up 0.05% to C$1.2782 against the U.S Dollar.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: It was a particularly quiet Asian session on the economic data front, with no material stats released, leaving the markets to consider current positions and what lies ahead, with a mass of central bankers scheduled to speak, non-voting members Harker and Kashkari having shared their relatively dovish views overnight. Carney and team could certainly provide the Pound with direction today, though with inflation and retail sales figures scheduled for release on Wednesday and Thursday, MPC members may decide to tone it down, the outlook for monetary policy through the middle of this year likely to be hinged on this week's numbers. At the time of writing, the Dollar Spot Index was down 0.06% to 93.618, with direction through the day likely to be hinged on noise from the Oval Office and market sentiment towards the U.S administration's announcement to hit the pause button on trade China tariffs. | With the ECB monetary policy meeting minutes out on Thursday and prelim May private sector PMI numbers due out tomorrow, $1.16 levels could come into play in the coming week, though it's not just the ECB meeting minutes the markets will need to contend with, as the FED releases its minutes the day prior to the ECB's. Across the Pond, it's another quiet day on the data front, with no material stats scheduled for release leaving the markets to consider the Red Book's release this afternoon, ahead of tomorrow's private sector PMI numbers and all-important FOMC policy meeting minutes. Across the border, the Loonie's back in action, with May wholesale sales figures scheduled for release, focus expected to move back to the data near-term as NAFTA trade talks continue on in the background. | Earlier in the Day: It was a particularly quiet Asian session on the economic data front, with no material stats released, leaving the markets to consider current positions and what lies ahead, with a mass of central bankers scheduled to speak, non-voting members Harker and Kashkari having shared their relatively dovish views overnight. With the ECB monetary policy meeting minutes out on Thursday and prelim May private sector PMI numbers due out tomorrow, $1.16 levels could come into play in the coming week, though it's not just the ECB meeting minutes the markets will need to contend with, as the FED releases its minutes the day prior to the ECB's. Across the Pond, it's another quiet day on the data front, with no material stats scheduled for release leaving the markets to consider the Red Book's release this afternoon, ahead of tomorrow's private sector PMI numbers and all-important FOMC policy meeting minutes. | At the time of writing, the EUR down 0.15% to $1.1754, with sentiment towards Italy weighing through the morning and likely to pin back any major moves through the day. Today's figures are forecasted to be Loonie positive, with more support expected from another move in crude oil prices . At the time of writing, the Loonie was up 0.05% to C$1.2782 against the U.S Dollar. | fa42000d-81c3-4dc8-b416-c4c1eab1e53f |
709391.0 | 2018-05-20 00:00:00 UTC | Kiwi Dollar Slides again, with Geo-politics in Focus Ahead of a Busy Week | DBO | https://www.nasdaq.com/articles/kiwi-dollar-slides-again-geo-politics-focus-ahead-busy-week-2018-05-20 | nan | nan | Earlier in the Day:
It's a relatively quiet start to the week, with Asian stats in focus today, economic data released through the Asian session including 1 st quarter retail sales figures out of New Zealand and Japan's all important April trade figures.
For the Kiwi Dollar , it was yet another disappointment, with quarterly sales rising at a much slower pace than in the 4 th quarter.
According to NZ States, quarter-on-quarter, retail sales rose by just 0.1% in the 1 st quarter, compared with 1.7% in the 4 th quarter, while core retail sales rose by 0.6%, following the 4 th quarter's 1.8% rise.
Sales were mixed across the respective segments, with 7 reporting higher sales volumes than in the 4 th quarter, while 8 saw lower volumes.
Electrical and electronic goods saw the largest quarterly rise, up 5.4%, while clothing footwear and accessories recorded the largest fall, down 5%.
On a volume basis, removing price impact, fuel sales also fell, down 2.1% for the quarter.
The Kiwi Dollar moved from $0.69210 to $0.69098 upon release of the figures before easing further to $0.6897, at the time of writing, down 0.14% for the morning.
For the Japanese Yen, April trade figures this morning will have provided some relief, though both imports and exports fell short of forecasts going into the 2 nd quarter.
Imports rose by 5.9% in April, year-on-year, falling short of a forecasted 9.6% rise, whilst more than reversing March's 0.6% decline.
Exports rose by 7.8%, falling short of a forecasted 8.1% increase, whilst coming in well ahead of March's 2.1% rise.
Exports to China rose by 10.9%, with exports to the U.S rising by 4.3%, the world's two largest economies being Japan's largest export markets by some distance.
Japan's trade surplus with the U.S widened by 4.7%, which will likely keep Japan in Trump's line of sight as the U.S administration addresses perceived trade imbalances.
Japan's trade surplus narrowed from ¥797bn to ¥626bn, which was better than a forecasted narrowing to a ¥406bn surplus.
The Japanese Yen moved from ¥110.873 to ¥110.916 against the Dollar, upon release of the figures, before falling further to ¥111.12 at the time of writing, down 0.31% for the session.
Elsewhere, the Aussie Dollar was up 0.20% to $0.7526 supported by the risk on sentiment across the market, though conflicting messages from the U.S administration on trade talks with China will need to be addressed.
In the equity markets, it was risk on as the markets responded to U.S administration speeches over the weekend on trade talks with China. A rebound in Japanese exports and a softer Yen supported the Nikkei, which was up 0.49% early on, with the Hang Seng and CSI300 up 1.23% and 0.71%, while the ASX200 bucked the trend, down 0.08% in what's been a choppy morning, .
The Day Ahead:
For the EUR , there are no material stats scheduled for release through the European session, with both French and German markets closed for the day, leaving the markets to consider the week ahead, which not only includes a heavy data schedule and the release of the ECB's policy meeting minutes, but also possible noise from the Oval Office as the EU looks for exemptions to do business with Iran.
Geo-politics is certainly front and centre for yet another week, with coalition talk from Italy also likely to be a burden for the EUR in the early part of the week.
At the time of writing, the EUR down 0.15% to $1.1754, with policy divergence and Italian politics going against the EUR at the start of the week.
For the Pound , there are no material stats scheduled for release today ahead of a critical week for the Pound, with April inflation and retail sales figures scheduled for release on Wednesday and Thursday, with 2 nd estimate GDP numbers due out on Friday.
A bounce back in retail sales could revive talk of a move by the BoE in the months ahead, while progress on Brexit will continue to be a factor for the markets to have to consider.
At the time of writing, the Pound was down 0.23% to $1.3438, with Brexit chatter and expectations towards the week's stats the key drivers through the day.
Across the Pond, with no material stats scheduled for release, FOMC members Bostic and Harker will provide direction through the U.S session, with noise from the Oval Office also there to consider as the U.S administration goes about its global relationship overhaul.
At the time of writing, the Dollar Spot Index was up 0.19% to 93.815, with Italy and Brexit weighing on the EUR and the GBP to provide support for the Dollar that has benefited from a pickup in momentum in the U.S economy, with inflationary pressures also building.
Across the border, Canadian markets are closed for the day, which will likely leave the Loonie thinly traded, with NAFTA talks now expected to continue through the year that should ease some of the near-term pressure on the Loonie.
At the time of writing, the Loonie was up 0.14% to C$1.2867 against the U.S Dollar, with support coming from a jump in crude oil prices at the start of the week.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR , there are no material stats scheduled for release through the European session, with both French and German markets closed for the day, leaving the markets to consider the week ahead, which not only includes a heavy data schedule and the release of the ECB's policy meeting minutes, but also possible noise from the Oval Office as the EU looks for exemptions to do business with Iran. A bounce back in retail sales could revive talk of a move by the BoE in the months ahead, while progress on Brexit will continue to be a factor for the markets to have to consider. Across the Pond, with no material stats scheduled for release, FOMC members Bostic and Harker will provide direction through the U.S session, with noise from the Oval Office also there to consider as the U.S administration goes about its global relationship overhaul. | Earlier in the Day: It's a relatively quiet start to the week, with Asian stats in focus today, economic data released through the Asian session including 1 st quarter retail sales figures out of New Zealand and Japan's all important April trade figures. Exports rose by 7.8%, falling short of a forecasted 8.1% increase, whilst coming in well ahead of March's 2.1% rise. For the Pound , there are no material stats scheduled for release today ahead of a critical week for the Pound, with April inflation and retail sales figures scheduled for release on Wednesday and Thursday, with 2 nd estimate GDP numbers due out on Friday. | Earlier in the Day: It's a relatively quiet start to the week, with Asian stats in focus today, economic data released through the Asian session including 1 st quarter retail sales figures out of New Zealand and Japan's all important April trade figures. According to NZ States, quarter-on-quarter, retail sales rose by just 0.1% in the 1 st quarter, compared with 1.7% in the 4 th quarter, while core retail sales rose by 0.6%, following the 4 th quarter's 1.8% rise. The Day Ahead: For the EUR , there are no material stats scheduled for release through the European session, with both French and German markets closed for the day, leaving the markets to consider the week ahead, which not only includes a heavy data schedule and the release of the ECB's policy meeting minutes, but also possible noise from the Oval Office as the EU looks for exemptions to do business with Iran. | According to NZ States, quarter-on-quarter, retail sales rose by just 0.1% in the 1 st quarter, compared with 1.7% in the 4 th quarter, while core retail sales rose by 0.6%, following the 4 th quarter's 1.8% rise. For the Japanese Yen, April trade figures this morning will have provided some relief, though both imports and exports fell short of forecasts going into the 2 nd quarter. Exports to China rose by 10.9%, with exports to the U.S rising by 4.3%, the world's two largest economies being Japan's largest export markets by some distance. | 7d0f8f92-f9fe-43a6-896b-6288b98923cd |
709392.0 | 2018-05-18 00:00:00 UTC | Japan Inflation Slows, as Focus Shifts to FOMC Member Commentary | DBO | https://www.nasdaq.com/articles/japan-inflation-slows-focus-shifts-fomc-member-commentary-2018-05-18 | nan | nan | Earlier in the Day:
It was a relatively quieter day through the Asia session this morning, with economic data limited to April inflation figures out of Japan.
April's annual core rate of inflation stood at 0.7%, falling short of a forecasted 0.8%, whilst easing from March's 0.9%, with headline consumer inflation falling by 0.4% month-on-month.
The monthly decline was attributed to falling food prices (-1.0%), which were partially offset by rising prices for clothes and footwear (+2.0%).
The core annual rate of inflation came in softer as a result of a 0.2% fall in prices for housing and a 1.5% fall in prices for furniture and household utensils. Offsetting the softer numbers were rises in prices for medical care (+1.9%), transportation and communication (+1.1%) and fuel, light and water charges (+3.6%).
As far as the BoJ and Abenomics is concerned, it's yet another blow in the wake of the contraction in the Japanese economy in the 1 st quarter and the quite dire core machinery order numbers released on Thursday.
The Japanese Yen moved from ¥110.809 to ¥110.83 upon release of the figures before easing to ¥110.93 against the Dollar at the time of writing, down 0.14% for the morning, any appetite for the safe haven over concerns of a rise in tension between the U.S and North Korea certainly not reflected in the Yen, which has been one of the worst performers for the current week and for good reason.
Elsewhere, the Aussie Dollar was up 0.04% to $0.7514 in what's been a choppy week, while the Kiwi Dollar was up 0.20% to $0.6892 at the time of writing, playing catch up. The pair have had a tough week and rising U.S Treasury yields have certainly done the job, though the Kiwi has had it worse this month, a particularly dovish RBNZ that was in stark contrast to an RBA wanting to sit back through the year, doing most of the damage.
In the equity markets, there was some positive momentum for the Nikkei in the wake of the Thursday losses in the U.S, off the back of a softer Yen, while the Hang Seng and CSI300 are having a choppy session and ASX200 in negative territory at the time of writing, the markets responding to comments over the U.S - China trade negotiations, which dampened any hopes of progress this week.
For both the Hang Seng and ASX200, it's been the energy sector leading the way, as Brent crossed over to $80 on Thursday and was knocking on the door again this morning. The U.S futures were in positive territory through the session providing support.
The Day Ahead:
For the EUR , economic data scheduled for release is limited to April producer price figures out of Germany and the Eurozone's March trade figures that will provide some direction, though unlikely to be enough to reverse the week's losses, the EUR desperately trying to hold on to $1.18 levels.
At the time of writing, the EUR up 0.09% to $1.1806, some profit taking from the upside in the Dollar contributing to the morning's moves, with things continuing to look precarious for the EUR bulls, the news wires likely to also be busy delving into the new anti-EU Italian government.
For the Pound , there are no material stats scheduled for release through the morning to provide direction for the Pound that found some support from Brexit news on Thursday.
The support was relatively short lived however, with the Pound moving back to test sub-$1.35 support levels, the Brexit road still a long and windy one, with sentiment towards the economy and monetary policy a drag.
At the time of writing, the Pound was down 0.04% to $1.3511, with Brexit chatter the key driver through the day, any further positive news likely to provide some short-term gains.
Across the Pond, there are no material stats scheduled for release out of the U.S, leaving the Dollar in the hands of the FOMC, members Mester, Brainard and Kaplan scheduled to speak through the day, with any hawkish commentary likely to support further upward momentum in yields.
At the time of writing, the Dollar Spot Index was up 0.03% to 93.498, with FOMC member commentary and the Oval Office the key drivers through the day, Treasury yields needing a watchful eye through the day.
Across the border, the Loonie is in action this afternoon, with April retail sales and inflation figures scheduled for release that will certainly provide direction, forecasts being Loonie positive.
Outside of the stats, there will also be NAFTA talks to consider, though news hitting the wires are pointing to an agreement by the end of the month, the Thursday deadline having passed.
At the time of writing, the Loonie was down 0.12% to C$1.2823 against the U.S Dollar, support from crude oil prices alone not enough to hold back a reversal through the morning, with Bank of Canada policy hinged on a positive outcome to NAFTA talks that no leaves the market in limbo for a while longer.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | As far as the BoJ and Abenomics is concerned, it's yet another blow in the wake of the contraction in the Japanese economy in the 1 st quarter and the quite dire core machinery order numbers released on Thursday. The pair have had a tough week and rising U.S Treasury yields have certainly done the job, though the Kiwi has had it worse this month, a particularly dovish RBNZ that was in stark contrast to an RBA wanting to sit back through the year, doing most of the damage. At the time of writing, the Loonie was down 0.12% to C$1.2823 against the U.S Dollar, support from crude oil prices alone not enough to hold back a reversal through the morning, with Bank of Canada policy hinged on a positive outcome to NAFTA talks that no leaves the market in limbo for a while longer. | April's annual core rate of inflation stood at 0.7%, falling short of a forecasted 0.8%, whilst easing from March's 0.9%, with headline consumer inflation falling by 0.4% month-on-month. For the Pound , there are no material stats scheduled for release through the morning to provide direction for the Pound that found some support from Brexit news on Thursday. This article was originally posted on FX Empire More From FXEMPIRE: Natural gas markets pull back during the session on Thursday DAX breaks out during Thursday session at crucial level Ethereum markets fall slightly on Thursday The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In the equity markets, there was some positive momentum for the Nikkei in the wake of the Thursday losses in the U.S, off the back of a softer Yen, while the Hang Seng and CSI300 are having a choppy session and ASX200 in negative territory at the time of writing, the markets responding to comments over the U.S - China trade negotiations, which dampened any hopes of progress this week. The Day Ahead: For the EUR , economic data scheduled for release is limited to April producer price figures out of Germany and the Eurozone's March trade figures that will provide some direction, though unlikely to be enough to reverse the week's losses, the EUR desperately trying to hold on to $1.18 levels. This article was originally posted on FX Empire More From FXEMPIRE: Natural gas markets pull back during the session on Thursday DAX breaks out during Thursday session at crucial level Ethereum markets fall slightly on Thursday The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In the equity markets, there was some positive momentum for the Nikkei in the wake of the Thursday losses in the U.S, off the back of a softer Yen, while the Hang Seng and CSI300 are having a choppy session and ASX200 in negative territory at the time of writing, the markets responding to comments over the U.S - China trade negotiations, which dampened any hopes of progress this week. The Day Ahead: For the EUR , economic data scheduled for release is limited to April producer price figures out of Germany and the Eurozone's March trade figures that will provide some direction, though unlikely to be enough to reverse the week's losses, the EUR desperately trying to hold on to $1.18 levels. For the Pound , there are no material stats scheduled for release through the morning to provide direction for the Pound that found some support from Brexit news on Thursday. | e5624209-bce3-4d0b-8370-05f6037c0543 |
709393.0 | 2018-05-16 00:00:00 UTC | Brexit News Drives Sterling, as U.S – China Trade Talks Begin | DBO | https://www.nasdaq.com/articles/brexit-news-drives-sterling-us-china-trade-talks-begin-2018-05-16 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning included New Zealand's 1 st quarter producer price figures, April CAPEX figures out of Japan and Australia's all-important April employment numbers.
For the Kiwi Dollar , 1 st quarter producer input prices rose by 0.6%, coming in ahead of a forecasted 0.3% increase, while easing from a 4 th quarter 0.9% rise.
According to figures released by NZ States, the 1 st quarter rise was attributed to a 1.7% rise in input prices for dairy product manufacturing and a 7.2% rise in input prices for petroleum and coal product manufacturers, stemming from rising crude oil prices .
The Kiwi Dollar moved from $0.69062 to $0.69072 upon release of the figures, before rising to $0.6928, a gain of 0.46% for the early part of the session.
For the Japanese Yen , Japan's April core machinery order figures disappointed, following the 1 st quarter GDP numbers on Wednesday, with orders sliding by 3.9% year-on-year. The figure was worse than a forecasted 2.7% decline, while more than offsetting March's 2.1% increase.
In spite of the fall, forecast for the quarter April-June is for a pickup in CAPEX, though much will depend on U.S China trade talks this week and whether there is a renewed U.S interest in Japan's trade terms.
The Japanese Yen moved from ¥110.373 to ¥110.37 against the U.S Dollar upon release of the figures, before hitting ¥110.16 at the time of writing, up 0.22% for the morning.
For the Aussie Dollar ,
According to the ABS, the labour force participation rate rose by 0.1% to 65.6%, contributing to the rise in the unemployment rate in April, which rose from 5.5% to 5.6%.
Full-time employment rose by 32,700, while part-time employment fell by 10,000, the shift in labour market composition more favourable for the outlook on wage growth and consumption.
Since April 2017, full-time employment has increased by 265,200, while part-time unemployment has risen by just 66.900.
The Aussie Dollar moved from $0.75182 to $0.75231 upon release of the figures, recovering from an immediate dip to $0.75056, before rallying to $0.7546, up 0.40% for the morning.
In the equity markets, it was a mixed start to the day, the Nikkei making a move, up 0.44% in spite of the stronger Yen, with the Hang Seng coughing up gains coming off the back of Tencent Holdings' earnings to see minor gains early on, while the ASX200 and CSI300 saw red, the ASX200 struggling following April's unemployment rate number, the latest uptick reflecting continued spare capacity in the economy, though anticipation of trade talks later today will have had some influence.
The Day Ahead:
For the EUR , there are no material stats scheduled for release through the day to provide direction, leaving the EUR in the hands of geo-political risk and broader market risk appetite.
Moves through Wednesday came in response to a dated Italian coalition government plan hitting the news wires, talks of a forgiveness of €250bn in debt taking the markets back to 2015 and Greece's Syriza victory that led to threats of defaulting on IMF loans that would have ultimately left Greece out in the cold.
Things are a little different, when considering the fact that Italy is the Eurozone's 3 rd largest economy, any political disruption and uncertainty over Italy's membership to the Euro likely to weigh heavily on the bloc's growth and financial stability.
Through the early part of the day, the EUR was on the move off the back of a softer Dollar, the markets locking in profits ahead of today's trade talks between the U.S and China, though whether the EUR can sustain such levels remains to be seen.
At the time of writing, the EUR up 0.19% to $1.1831, the EUR recovering from Wednesday's sub-$1.18 level lows.
For the Pound , while there are no material stats scheduled for release through the day, while Brexit news has provided some new found strength, with reports of the British government's plan to advise the EU of its willingness to remain within the customs union beyond 2021 seeing the Pound on the move in the early hours.
It's either policy or Brexit and, with sentiment towards BoE monetary policy taking a turn for the worse, the only salvation for the Pound will be from Brexit chatter near-term, as unpredictable is it may be.
At the time of writing, the Pound was up 0.56% to $1.3561, with $1.36 levels in play later in the day should Dollar weakness persist.
Across the Pond, it's a relatively quiet day, economic data out of the U.S limited to the weekly jobless claims numbers and May's Philly FED Manufacturing Index figures.
While forecasts are for manufacturing activity to ease, a surprise number would provide the Dollar with a boost, while the markets will also have FOMC members Kashkari and Kaplan to consider, alongside possible geo-political tension as the U.S and China begin trade talks.
At the time of writing, the Dollar Spot Index was down 0.13% to 93.268, with trade chatter, sentiment towards North Korea and FOMC member commentary likely to take centre stage through the day.
Across the border, economic data out of Canada is limited to March foreign securities purchases that are likely to be of little influence as the markets look to gauge whether there will a conclusion to NAFTA trade talks later today.
At the time of writing, the Loonie was up 0.28% to C$1.2754 against the U.S Dollar, with rising oil prices, Bank of Canada chatter on the economy and outlook, coupled with some U.S Dollar weakness providing the upside for the Loonie.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | While forecasts are for manufacturing activity to ease, a surprise number would provide the Dollar with a boost, while the markets will also have FOMC members Kashkari and Kaplan to consider, alongside possible geo-political tension as the U.S and China begin trade talks. At the time of writing, the Dollar Spot Index was down 0.13% to 93.268, with trade chatter, sentiment towards North Korea and FOMC member commentary likely to take centre stage through the day. Across the border, economic data out of Canada is limited to March foreign securities purchases that are likely to be of little influence as the markets look to gauge whether there will a conclusion to NAFTA trade talks later today. | Earlier in the Day: Economic data released through the Asian session this morning included New Zealand's 1 st quarter producer price figures, April CAPEX figures out of Japan and Australia's all-important April employment numbers. For the Kiwi Dollar , 1 st quarter producer input prices rose by 0.6%, coming in ahead of a forecasted 0.3% increase, while easing from a 4 th quarter 0.9% rise. For the Japanese Yen , Japan's April core machinery order figures disappointed, following the 1 st quarter GDP numbers on Wednesday, with orders sliding by 3.9% year-on-year. | Earlier in the Day: Economic data released through the Asian session this morning included New Zealand's 1 st quarter producer price figures, April CAPEX figures out of Japan and Australia's all-important April employment numbers. According to figures released by NZ States, the 1 st quarter rise was attributed to a 1.7% rise in input prices for dairy product manufacturing and a 7.2% rise in input prices for petroleum and coal product manufacturers, stemming from rising crude oil prices . In the equity markets, it was a mixed start to the day, the Nikkei making a move, up 0.44% in spite of the stronger Yen, with the Hang Seng coughing up gains coming off the back of Tencent Holdings' earnings to see minor gains early on, while the ASX200 and CSI300 saw red, the ASX200 struggling following April's unemployment rate number, the latest uptick reflecting continued spare capacity in the economy, though anticipation of trade talks later today will have had some influence. | Earlier in the Day: Economic data released through the Asian session this morning included New Zealand's 1 st quarter producer price figures, April CAPEX figures out of Japan and Australia's all-important April employment numbers. Through the early part of the day, the EUR was on the move off the back of a softer Dollar, the markets locking in profits ahead of today's trade talks between the U.S and China, though whether the EUR can sustain such levels remains to be seen. For the Pound , while there are no material stats scheduled for release through the day, while Brexit news has provided some new found strength, with reports of the British government's plan to advise the EU of its willingness to remain within the customs union beyond 2021 seeing the Pound on the move in the early hours. | 9bf4ae2f-43f4-4ee6-8d0b-bb3af8a2ca66 |
709394.0 | 2018-05-15 00:00:00 UTC | Stats and Trade to drive the EUR, GBP, the Loonie and the USD | DBO | https://www.nasdaq.com/articles/stats-and-trade-drive-eur-gbp-loonie-and-usd-2018-05-15 | nan | nan | Earlier in the Day:
After a quiet start to the week, stats released through the Asian session this morning included April industrial production, fixed asset investment and retail sales figures out of China, together with Japan's tertiary industry activity index, while the RBA also released its meeting minutes from the May meeting.
For the Aussie Dollar, the RBA meeting minutes provided few surprises following the start of the month's rate statement, with members of the board agreeing that there was no reason for a near-term shift in monetary policy, while noting that the next move would likely be up rather than down, as had been stated within the rate statement.
Both wage growth and inflation have come in on the softer side through the first quarter, pinning back any expectations of a move until next year, with focus now shifting to tomorrow's 1 st quarter wage growth figures and April employment numbers due out on Thursday.
The Aussie Dollar slipped from $0.75323 to $0.75239 upon release of the minutes before recovering to $0.75315 ahead of China's April stats.
Out of China, the numbers were mixed, with industrial production rising by 7%, coming in ahead of a forecasted 6.3%, following March's 6% rise. Fixed asset investment and retail sales figures were on the softer side however, fixed asset investment rising by 7%, down from March's 7.5%, with retail sales rising by 9.4%, down from March's 10.1% rise, both sets of numbers falling short of forecasts.
The Aussie Dollar moved from $0.75323 to $0.75294 upon release of the figures, before recovering to $0.7529 at the time of writing, up 0.04% for the session.
For the Japanese Yen, the Tertiary Industry Activity Index disappointed, falling by 0.3% in March to reverse February's upwardly revised 0.1% rise, while also falling more than a forecasted 0.2%.
Industries that contributed to the decline included finance and insurance (-3.2%); information and communications (-1.3%); and electricity, gas, heat supply and water (-4.7%), while business-related services (+2.7%) and wholesale trade (+0.8%) offset some of the downside, other industries seeing minor changes in the month.
The Japanese Yen moved from ¥109.837 to ¥109.871 against the Dollar, upon release of the figures, before recovering to ¥109.74 at the time of writing, down 0.07% for the day.
While the Aussie Dollar was in positive territory at the time of writing, the Kiwi Dollar continued to be pegged back to sub-$0.70 levels, down 0.20% to $0.6899, with no material stats out of New Zealand ahead of 1 st quarter wholesale inflation figures on Thursday to reverse the negative sentiment from last week's RBNZ policy decision and outlook.
In the equity markets, it was a day of caution, the Hang Seng down 0.9% to reverse some of Monday's gains, with the CSI300, ASX200 and Nikkei also in the red at the time of writing,
The Day Ahead:
For the EUR , it's a busy day ahead with economic data out of the Eurozone including Germany and the Eurozone's 1 st quarter GDP numbers, the Eurozone's March industrial production figures, May economic sentiment numbers out of Germany and the Eurozone and 1 st quarter nonfarm payroll and finalized April inflation figures out of France.
Focus will likely be on Germany's 1 st estimate GDP numbers and May economic sentiment figures, with any weaker than forecasted GDP numbers likely to weigh on the EUR ahead of today's stats out of the U.S.
Outside of the data, the EU will also be meeting Iran's foreign minister today to discuss how to keep the nuclear agreement alive following the U.S withdrawal. While the U.S does not import crude oil from Iran, how the U.S administration responds to the EU's willingness to keep the deal alive will be key, the administration having already stated that the U.S would introduce sanctions on European companies that continue to do business with Iran.
At the time of writing, the EUR was down 0.08% to $1.1917, the EUR in the hands of today's stats, noise over the Iran nuclear agreement and updates from the U.S on trade talks with China.
For the Pound , wage growth and employment figures are in focus, any possible upside for the Pound now reliant on positive numbers that could shift market sentiment towards BoE monetary policy.
For any near-term move, economic data out of the UK is going to need to impress and today's figures are amongst the key numbers that the BoE will consider in the months ahead before any move, with Brexit the other driver that has failed to provide support to the Pound of late.
At the time of writing, the Pound was up 0.08% to $1.3545, with softer average earnings plus bonus numbers forecasted that could see a pullback in the Pound later this morning should claimant counts also disappoint.
Across the Pond, it's a busy day for the Dollar, with key stats through the U.S session including March business inventories, April's retail sales figures and NY state manufacturing numbers for May.
While we would expect the Dollar to respond to all of the data this afternoon, retail sales will be the key driver on the data front, while trade talks with China, progress on NAFTA and any talk of sanction on European companies also a factor to consider, the Oval Office ever present when considering direction for the Dollar.
At the time of writing, the Dollar Spot Index was up 0.22% to $92.79, recovering from early losses, with forecasts for today's stats favouring the Dollar, though it's not just today's stats that will provide direction, FOMC voting member Kaplan also scheduled to speak.
Across the border, with no material stats scheduled for release out of Canada, focus will remain on NAFTA talks, the news wires suggesting that this Thursday's extended deadline could be missed, while the respective heads of state were reported to have been in discussion overnight to wrap up talks
At the time of writing, the Loonie was down 0.02% to C$1.2815 against the U.S Dollar, with NAFTA news the key driver through the day.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: After a quiet start to the week, stats released through the Asian session this morning included April industrial production, fixed asset investment and retail sales figures out of China, together with Japan's tertiary industry activity index, while the RBA also released its meeting minutes from the May meeting. Across the border, with no material stats scheduled for release out of Canada, focus will remain on NAFTA talks, the news wires suggesting that this Thursday's extended deadline could be missed, while the respective heads of state were reported to have been in discussion overnight to wrap up talks At the time of writing, the Loonie was down 0.02% to C$1.2815 against the U.S Dollar, with NAFTA news the key driver through the day. This article was originally posted on FX Empire More From FXEMPIRE: S&P 500; US Indexes Fundamental Daily Forecast - Investors Banking on Favorable U.S. - China Trade Deal Cardano's ADA Technical Analysis -Bulls Look to Test Resistance - 15/05/18 Bitcoin Cash Hard Fork Takes the Battle to Bitcoin The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: After a quiet start to the week, stats released through the Asian session this morning included April industrial production, fixed asset investment and retail sales figures out of China, together with Japan's tertiary industry activity index, while the RBA also released its meeting minutes from the May meeting. Fixed asset investment and retail sales figures were on the softer side however, fixed asset investment rising by 7%, down from March's 7.5%, with retail sales rising by 9.4%, down from March's 10.1% rise, both sets of numbers falling short of forecasts. In the equity markets, it was a day of caution, the Hang Seng down 0.9% to reverse some of Monday's gains, with the CSI300, ASX200 and Nikkei also in the red at the time of writing, The Day Ahead: For the EUR , it's a busy day ahead with economic data out of the Eurozone including Germany and the Eurozone's 1 st quarter GDP numbers, the Eurozone's March industrial production figures, May economic sentiment numbers out of Germany and the Eurozone and 1 st quarter nonfarm payroll and finalized April inflation figures out of France. | Earlier in the Day: After a quiet start to the week, stats released through the Asian session this morning included April industrial production, fixed asset investment and retail sales figures out of China, together with Japan's tertiary industry activity index, while the RBA also released its meeting minutes from the May meeting. In the equity markets, it was a day of caution, the Hang Seng down 0.9% to reverse some of Monday's gains, with the CSI300, ASX200 and Nikkei also in the red at the time of writing, The Day Ahead: For the EUR , it's a busy day ahead with economic data out of the Eurozone including Germany and the Eurozone's 1 st quarter GDP numbers, the Eurozone's March industrial production figures, May economic sentiment numbers out of Germany and the Eurozone and 1 st quarter nonfarm payroll and finalized April inflation figures out of France. Focus will likely be on Germany's 1 st estimate GDP numbers and May economic sentiment figures, with any weaker than forecasted GDP numbers likely to weigh on the EUR ahead of today's stats out of the U.S. Outside of the data, the EU will also be meeting Iran's foreign minister today to discuss how to keep the nuclear agreement alive following the U.S withdrawal. | Earlier in the Day: After a quiet start to the week, stats released through the Asian session this morning included April industrial production, fixed asset investment and retail sales figures out of China, together with Japan's tertiary industry activity index, while the RBA also released its meeting minutes from the May meeting. The Japanese Yen moved from ¥109.837 to ¥109.871 against the Dollar, upon release of the figures, before recovering to ¥109.74 at the time of writing, down 0.07% for the day. For the Pound , wage growth and employment figures are in focus, any possible upside for the Pound now reliant on positive numbers that could shift market sentiment towards BoE monetary policy. | 7ec4ee11-acd2-4dfa-a962-aa5e3af4cfa3 |
709395.0 | 2018-05-10 00:00:00 UTC | RBNZ Slams the Kiwi, with Super Thursday to Drive the Pound | DBO | https://www.nasdaq.com/articles/rbnz-slams-kiwi-super-thursday-drive-pound-2018-05-10 | nan | nan | Earlier in the Day:
Economic data released through the Asian session was on the heavier side this morning, with stats including March current account figures out of Japan, April inflation numbers out of China and house price figures out of the UK, while the RBNZ also delivered its May interest rate decision, together with the release of its rate statement and monetary policy statement in the early hours.
For the Kiwi Dollar , interest rates were left unchanged at 1.75%, which was in line with market expectations, while the rate statement, monetary policy statement and press conference weighed heavily on the Kiwi this morning.
New Zealand's central bank noted that economic growth and employment remained solid, while inflation continued to sit below the Bank's 2% mid-point of target, soft inflation attributed to low food and import price inflation, coupled with weak wage growth.
To support the Bank's view that the annual rate of inflation will gradually move towards 2%, the RBNZ would need maintain the current overnight cash rate for a considerable period of time, a particularly dovish comment.
If the Kiwi Dollar wasn't already on the back foot, following the slide in April credit card sales, the RBNZ also downgraded economic growth and inflation forecasts, leading to a delay in the expected timing of the next rate hike to the 3 rd quarter of next year, though the Bank stated that it was not in a position to say whether the next move would be up or down.
The Kiwi Dollar moved from $0.69799 to $0.69466 in response to the statements, before sliding further to $0.6922 at the time of writing, down 0.93% for the session.
Out of China , consumer price inflation figures came in softer than expected, with the annual rate of inflation easing from March's 2.1% to 1.8% in April, consumer prices falling by 0.2% month-on-month, the softer numbers attributed to pork prices.
While consumer prices were on the softer side, wholesale inflation saw a pickup, rising by 3.4% in April, following March's 3.1% rise, supported by rising commodity prices.
In spite of the pickup in wholesale inflation prices, expectations are for consumer price inflation to remain at current levels that should hold the PBoC back from the need to tighten monetary policy, supporting growth and the equity markets.
For the Japanese Yen , Japan's current account widened from ¥2.076tn to ¥3.122tn in March, the widening attributed to a goods trade surplus of ¥1.19tn.
The Japanese Yen moved from ¥109.857 to ¥109.856 against the Dollar upon release of the figures, before rising to ¥109.73 at the time of writing, up 0.01% for the morning.
Elsewhere, the Aussie Dollar found further support early on, following Wednesday's 0.11% rise, up 0.04% to $0.7466 early on, the gains coming off the back of a pause in the Dollar rally rather than a shift in sentiment towards RBA monetary policy, though there will have been some support from rising commodity prices and China's inflation figures.
In the equity markets, it was risk on for the majors, the Hang Seng leading the way, up 0.91% at the time of writing, with the ASX200, CSI300 and Nikkei also in positive territory, the markets responding to the U.S administration's position on Iran. Trump's willingness to go back to the negotiating table has certainly eased the prospect of a market sell-off, with a jump in crude oil prices in response to sanction supporting the markets this morning, while concerns over trade talks between the U.S and China next week linger.
The Day Ahead:
For the EUR , there are no material stats scheduled for release today, leaving the markets to slice and dice the ECB's economic bulletin due out this later morning.
While the EU economic forecasts, released on Tuesday, were relatively upbeat, we can expect today's bulletin to have greater influence, the outlook of greater significance to ECB monetary policy.
Germany's trade and industrial production figures earlier in the week would have eased concerns of a meltdown, though inflationary pressures continue to place policy divergence in favour of the Dollar.
At the time of writing, the EUR was down 0.08% to $1.1854, with upside for the EUR likely to be limited near-term, the risk on sentiment and a forecasted uptick in U.S consumer price inflation putting the Dollar in the driving seat.
For the Pound , it's Super Thursday and, while industrial and manufacturing production and trade figures will provide some direction for the Pound early on, it's going to boil down to today's BoE monetary policy decision.
While rates are not expected to move, following a batch of weak data, how the BoE views inflation and directs the markets this afternoon will be key for the Pound near-term.
Should we see the BoE downwardly revise its outlook on inflation, it should be considered an added reason for the BoE to hold near-term that should see the Pound slide further, sub-$1.34 levels certainly a possibility when factoring Theresa May's troubles over Brexit.
Hawkish sentiment towards inflation and a couple of votes in favour of a hike this month and the Pound could find some support, with a move through to $1.37 levels near-term, though Brexit chatter will likely limit a near-term move back through to $1.40 levels.
Following the BoE policy decision, the NIESR GDP estimates for the UK will also be released, though the Pound will likely be taking its cues from Carney rather than the NIESR today.
At the time of writing, the Pound was up 0.16% to $1.3568, supported by a slight easing in the Dollar and hopes of a hawkish outlook on policy, with the Pound getting plenty of support at current levels ahead of today's key driver.
Across the Pond, April's consumer price inflation figures are scheduled for release this afternoon, anything in line with or better than forecasts a positive for the Dollar, though direction through the day will also be hinged on any chatter from the Oval Office.
There's plenty going on at present, with Iran's nuclear agreement, trade talks with China and North Korea to factor in on the geo-political risk front, Trump's progress to date having provided strong support to the Dollar.
At the time of writing, the Dollar Spot Index was down 0.04% to 93.005, with a hold at 93 levels key for the Dollar bulls through to today's stats.
Across the border, stats out of Canada are limited to March's house price index figures that are again likely to have a muted impact on the Loonie, which has found its feet this week in spite of a resurgent U.S Dollar, supported by a jump in oil prices, while NAFTA continues to be in focus.
At the time of writing, the Loonie was up 0.19% to C$1.283 against the U.S Dollar, with support from crude having finally kicked in ahead of today's stats.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | If the Kiwi Dollar wasn't already on the back foot, following the slide in April credit card sales, the RBNZ also downgraded economic growth and inflation forecasts, leading to a delay in the expected timing of the next rate hike to the 3 rd quarter of next year, though the Bank stated that it was not in a position to say whether the next move would be up or down. There's plenty going on at present, with Iran's nuclear agreement, trade talks with China and North Korea to factor in on the geo-political risk front, Trump's progress to date having provided strong support to the Dollar. This article was originally posted on FX Empire More From FXEMPIRE: DAX Index Likely to Push Higher On Positive Intent Oil Price Fundamental Daily Forecast - Is a Bull Trap Being Set? | Earlier in the Day: Economic data released through the Asian session was on the heavier side this morning, with stats including March current account figures out of Japan, April inflation numbers out of China and house price figures out of the UK, while the RBNZ also delivered its May interest rate decision, together with the release of its rate statement and monetary policy statement in the early hours. Out of China , consumer price inflation figures came in softer than expected, with the annual rate of inflation easing from March's 2.1% to 1.8% in April, consumer prices falling by 0.2% month-on-month, the softer numbers attributed to pork prices. While consumer prices were on the softer side, wholesale inflation saw a pickup, rising by 3.4% in April, following March's 3.1% rise, supported by rising commodity prices. | Earlier in the Day: Economic data released through the Asian session was on the heavier side this morning, with stats including March current account figures out of Japan, April inflation numbers out of China and house price figures out of the UK, while the RBNZ also delivered its May interest rate decision, together with the release of its rate statement and monetary policy statement in the early hours. Out of China , consumer price inflation figures came in softer than expected, with the annual rate of inflation easing from March's 2.1% to 1.8% in April, consumer prices falling by 0.2% month-on-month, the softer numbers attributed to pork prices. Elsewhere, the Aussie Dollar found further support early on, following Wednesday's 0.11% rise, up 0.04% to $0.7466 early on, the gains coming off the back of a pause in the Dollar rally rather than a shift in sentiment towards RBA monetary policy, though there will have been some support from rising commodity prices and China's inflation figures. | Earlier in the Day: Economic data released through the Asian session was on the heavier side this morning, with stats including March current account figures out of Japan, April inflation numbers out of China and house price figures out of the UK, while the RBNZ also delivered its May interest rate decision, together with the release of its rate statement and monetary policy statement in the early hours. In spite of the pickup in wholesale inflation prices, expectations are for consumer price inflation to remain at current levels that should hold the PBoC back from the need to tighten monetary policy, supporting growth and the equity markets. While rates are not expected to move, following a batch of weak data, how the BoE views inflation and directs the markets this afternoon will be key for the Pound near-term. | 3ad23499-2bed-46a0-9de8-a06625ad3c32 |
709396.0 | 2018-05-01 00:00:00 UTC | The Aussie Dollar Steadies after an RBA Wobble, with Focus now on the FED | DBO | https://www.nasdaq.com/articles/aussie-dollar-steadies-after-rba-wobble-focus-now-fed-2018-05-01 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was on the lighter side, limited to March building consents out of New Zealand and April's AIG Manufacturing Index numbers out of Australia, with the RBA's interest rate decision and release of the rate statement the main event of the morning.
For the Kiwi Dollar, building consents surged by 14.7% in March, following February's upwardly revised 6.4% increase. The stats had a muted impact on the Kiwi Dollar, which has been under the cosh as the markets get hawkish ahead of tomorrow's FOMC.
The Kiwi Dollar moved from $0.70345 to $0.70341 upon release of the figures, before rising to $0.7036 at the time of writing, up 0.01% for the day.
For the Aussie Dollar, the AIG Manufacturing Index slipped from 63.1 to 58.3 in April, the stats coming out ahead of the RBA's monetary policy decision.
Five of the seven activity sub-indexes expanded in April, but at a slower pace than in March, though new orders, production and sales held above 60, supporting a positive outlook for growth over the near-term.
The exports sub-index contracted, with employment slowing in the month.
Six of the eight sub-sectors reached record highs in trend terms.
Input prices slipped, while holding above 60, with the wages sub-index also easing, while holding above the long-run average.
While input prices and wages were on the softer side, selling prices were on the rise, providing some hopes of a pickup in inflationary pressure following the disappointing 1 st quarter numbers.
The Aussie Dollar moved from $0.75297 to $0.75341 upon release of the figures, the softer headline figure having a muted impact with new order and production figures continuing to point to positive growth outlook.
The RBA held rates unchanged as had been forecasted, with the tone of the rate statement the key driver for the Aussie Dollar this morning.
Key points from the rate statement included:
Inflation remains low and in line with the Bank's expectations and likely to remain low for some time, reflecting low growth in labour costs and strong competition in retailing.
Bank expects growth to pick up to average over 3% in 2018 and 2019, which should reduce some spare capacity in the economy.
While business conditions are positive and non-mining business investment is on the rise, uncertainty over the outlook for household consumption remains, in spite of a pickup towards the end of last year.
Household income has been growing slowly and debt levels are high.
Employment has grown strongly over the last 12-months, and while the pace of hiring has slowed in recent months, forward looking indicators continue to point to solid growth ahead, though wage growth is expected to remain low for a while yet.
The Aussie Dollar moved from $0.75391 to $0.7542 upon release of the statement, recovering from an initial dip to $0.75327, the statement painting a positive outlook for the economy.
The Day Ahead:
For the EUR, there are no stats scheduled for release, with the markets closed for Labour Day, leaving market sentiment towards monetary policy divergence to provide direction in what is likely to be a thin day on the trading side, the only upside for the EUR at present being rumblings over the U.S pulling out of the Iran nuclear agreement.
At the time of writing, the EUR was down 0.02% to $1.2075, with $1.19 levels on the horizon should the FED deliver a hawkish outlook on Wednesday.
For the Pound, economic data scheduled for release includes April's manufacturing PMI. Following a disappointing 1 st quarter, the markets will be looking for private sector PMI numbers to bounce back to support a 2 nd quarter rebound, any soft numbers likely to weigh further on the Pound, ahead of the key service sector PMI number on Thursday.
At the time of writing, the Pound was down 0.01% to $1.3761, with sentiment towards monetary policy and the British government's Brexit woes pinning back any recovery. April's PMI numbers could see a shift in sentiment towards policy, but the numbers are going to have to be impressive to have any influence on the BoE.
Across the Pond, stats out of the U.S include the market's preferred April ISM manufacturing PMI, together with April's finalized Markit manufacturing PMI numbers. Forecasts point to a slight softening in the headline ISM number, though nothing to warrant any major concerns or influence the tone of tomorrow's FOMC statement, barring something dire.
The Dollar Spot Index was up 0.01% to 91.854, with today's stats and views ahead of tomorrow' FOMC the key drivers for the day, while the Redbook is also scheduled for release to provide further direction through the day.
Across the border, stats out of Canada include GDP figures together with April's manufacturing PMI. While an uptick in growth figures will provide support for the Loonie, April's manufacturing PMI numbers will also be key, with any pickup in wholesale price inflation and positive new order figures a positive for the Loonie this afternoon.
At the time of writing, the Loonie was up 0.15% to C$1.2824, finding support from a pickup in crude oil prices in the early part of the day.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Dollar Spot Index was up 0.01% to 91.854, with today's stats and views ahead of tomorrow' FOMC the key drivers for the day, while the Redbook is also scheduled for release to provide further direction through the day. Five of the seven activity sub-indexes expanded in April, but at a slower pace than in March, though new orders, production and sales held above 60, supporting a positive outlook for growth over the near-term. Forecasts point to a slight softening in the headline ISM number, though nothing to warrant any major concerns or influence the tone of tomorrow's FOMC statement, barring something dire. | The Dollar Spot Index was up 0.01% to 91.854, with today's stats and views ahead of tomorrow' FOMC the key drivers for the day, while the Redbook is also scheduled for release to provide further direction through the day. The Aussie Dollar moved from $0.75297 to $0.75341 upon release of the figures, the softer headline figure having a muted impact with new order and production figures continuing to point to positive growth outlook. For the Pound, economic data scheduled for release includes April's manufacturing PMI. | The Dollar Spot Index was up 0.01% to 91.854, with today's stats and views ahead of tomorrow' FOMC the key drivers for the day, while the Redbook is also scheduled for release to provide further direction through the day. Earlier in the Day: Economic data released through the Asian session this morning was on the lighter side, limited to March building consents out of New Zealand and April's AIG Manufacturing Index numbers out of Australia, with the RBA's interest rate decision and release of the rate statement the main event of the morning. The Day Ahead: For the EUR, there are no stats scheduled for release, with the markets closed for Labour Day, leaving market sentiment towards monetary policy divergence to provide direction in what is likely to be a thin day on the trading side, the only upside for the EUR at present being rumblings over the U.S pulling out of the Iran nuclear agreement. | The Dollar Spot Index was up 0.01% to 91.854, with today's stats and views ahead of tomorrow' FOMC the key drivers for the day, while the Redbook is also scheduled for release to provide further direction through the day. The Kiwi Dollar moved from $0.70345 to $0.70341 upon release of the figures, before rising to $0.7036 at the time of writing, up 0.01% for the day. Employment has grown strongly over the last 12-months, and while the pace of hiring has slowed in recent months, forward looking indicators continue to point to solid growth ahead, though wage growth is expected to remain low for a while yet. | eea8f4a9-319c-45c9-9c57-51fb65294b1c |
709397.0 | 2018-04-23 00:00:00 UTC | PMI numbers and Trade to Drive the EUR and the USD | DBO | https://www.nasdaq.com/articles/pmi-numbers-and-trade-drive-eur-and-usd-2018-04-23 | nan | nan | Earlier in the Day:
There were no material stats released through the Asian session this morning to provide the markets with direction, as U.S Treasury yields continued to move northwards, following last week's U.S Treasury sell-off.
The continued rise in U.S Treasury yields saw the Yen fall back to ¥107.79 against the U.S Dollar, down 0.12% for the morning, while the Kiwi Dollar was down just 0.01% to $0.7206.
For the Aussie Dollar, it was a better start to the day, up 0.08% to $0.7678, the Aussie Dollar finding support from an early rise in the commodities, while crude oil prices eased back slightly through the early part of the day.
While the data was non-existent this morning, it's a big week ahead on the data front, with the BoJ's monetary policy decision also to consider later in the week, the latest inflation numbers likely to see a revision to inflation forecasts that could see further weakness in the Yen should geo-political risks continue to abate through the early part of the week.
Progress with North Korea and hopes for a resolution to the trade spat between China and the U.S provided some upside in the equity markets, with risk aversion easing through the morning.
In the equity markets, the Nikkei was down just 0.19%, with the Hang Seng down 0.36% early on, weighed by a slide in tech and oil stocks, while the ASX200 was up 0.38%, with the CSI300 flat, as the markets focused on discussions on trade at the IMF.
Hopes of a favourable outcome to trade discussions have provided support to the U.S Futures, with the Dow, S&P500 and NASDAQ minis in positive territory early on, further gains likely to support the Asian equity markets ahead of the close, with U.S Treasury yields expected to ease from current levels
The Day Ahead:
For the EUR, following a relatively quiet week on the data front, April's prelim private sector PMI figures are scheduled for release this morning.
There's been some concern in the markets over recent data out of the Eurozone that has pointed to a soft patch or something more severe. While ECB President Draghi tried to ease market concerns of a more material slowdown, today's figures will certainly provide the markets and the EUR with some direction, any uptick in wholesale price inflation and pickup in activity a positive for the EUR.
A forecasted softer manufacturing PMI out of Germany may ultimately be to the detriment of the EUR should the numbers be in line with forecasts.
For the Pound, there are no material stats scheduled for release today, leaving the markets to consider what lies ahead from a BoE monetary policy perspective following last week's disappointing retail sales figures and softer inflation.
At the time of writing, the Pound was up 0.13% to $1.4018, with some confusion over how the BoE will move next month seeing the Pound claw back some of its losses from last week.
While the more dovish have suggested that Carney's comments last week removes the chance of a rate hike next month, the continued overshoot in inflation and a relatively stable economy could see the hawks take control, the BoE known to give little away too far in advance of an MPC meeting. This week's release of the 1 st quarter GDP numbers likely to have a significant impact on sentiment, with Brexit chatter also there for the markets to consider.
Across the Pond, following some better data out of the U.S last week, focus will shift to prelim April private sector PMI numbers scheduled for release this afternoon, together with existing home sales figures.
Any materially weak figures could see the Dollar take a hit and raise further concerns over the U.S economy going into the 2 nd quarter, though anything in line with or better than forecasted should provide Dollar support.
Outside of the data, trade talks will also be a factor to consider, any agreements to avoid a trade war likely to be another Dollar positive event.
At the time of writing, the Dollar Spot Index was up 0.10% to 90.403, driven by the continued rise in Treasury yields and easing geo-political tension.
Across the border, Canada's wholesale sales figures are scheduled for release, which are forecasted to be Loonie positive, the Loonie in much need of a turnaround following last week's slide to C$1.27 levels, though the dovish tone of the Bank of Canada is unlikely to inspire too much of a rally on this afternoon's figures.
At the time of writing, the Loonie was up 0.03% to C$1.2757.
This article was originally posted on FX Empire
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Bitcoin Goes Lateral as Bitcoin Cash Steals the Show… Again
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Pound, there are no material stats scheduled for release today, leaving the markets to consider what lies ahead from a BoE monetary policy perspective following last week's disappointing retail sales figures and softer inflation. While the more dovish have suggested that Carney's comments last week removes the chance of a rate hike next month, the continued overshoot in inflation and a relatively stable economy could see the hawks take control, the BoE known to give little away too far in advance of an MPC meeting. Across the Pond, following some better data out of the U.S last week, focus will shift to prelim April private sector PMI numbers scheduled for release this afternoon, together with existing home sales figures. | Earlier in the Day: There were no material stats released through the Asian session this morning to provide the markets with direction, as U.S Treasury yields continued to move northwards, following last week's U.S Treasury sell-off. Hopes of a favourable outcome to trade discussions have provided support to the U.S Futures, with the Dow, S&P500 and NASDAQ minis in positive territory early on, further gains likely to support the Asian equity markets ahead of the close, with U.S Treasury yields expected to ease from current levels The Day Ahead: For the EUR, following a relatively quiet week on the data front, April's prelim private sector PMI figures are scheduled for release this morning. Across the Pond, following some better data out of the U.S last week, focus will shift to prelim April private sector PMI numbers scheduled for release this afternoon, together with existing home sales figures. | While the data was non-existent this morning, it's a big week ahead on the data front, with the BoJ's monetary policy decision also to consider later in the week, the latest inflation numbers likely to see a revision to inflation forecasts that could see further weakness in the Yen should geo-political risks continue to abate through the early part of the week. Hopes of a favourable outcome to trade discussions have provided support to the U.S Futures, with the Dow, S&P500 and NASDAQ minis in positive territory early on, further gains likely to support the Asian equity markets ahead of the close, with U.S Treasury yields expected to ease from current levels The Day Ahead: For the EUR, following a relatively quiet week on the data front, April's prelim private sector PMI figures are scheduled for release this morning. This article was originally posted on FX Empire More From FXEMPIRE: NEO Technical Analysis - Bullish Early - 23/04/18 Early Tentative Sentiment in Broad Markets, Global Stocks Down as Treasury Yields Rise Bitcoin Goes Lateral as Bitcoin Cash Steals the Show… Again The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Hopes of a favourable outcome to trade discussions have provided support to the U.S Futures, with the Dow, S&P500 and NASDAQ minis in positive territory early on, further gains likely to support the Asian equity markets ahead of the close, with U.S Treasury yields expected to ease from current levels The Day Ahead: For the EUR, following a relatively quiet week on the data front, April's prelim private sector PMI figures are scheduled for release this morning. For the Pound, there are no material stats scheduled for release today, leaving the markets to consider what lies ahead from a BoE monetary policy perspective following last week's disappointing retail sales figures and softer inflation. Any materially weak figures could see the Dollar take a hit and raise further concerns over the U.S economy going into the 2 nd quarter, though anything in line with or better than forecasted should provide Dollar support. | b7d81c1d-1a2c-42e8-b75b-6993ecbd7056 |
709398.0 | 2018-04-18 00:00:00 UTC | DBO, DDG: Big ETF Outflows | DBO | https://www.nasdaq.com/articles/dbo-ddg-big-etf-outflows-2018-04-18 | nan | nan | Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the PowerShares DB Oil Fund ( DBO ), where 11,800,000 units were destroyed, or a 27.7% decrease week over week. Among the largest underlying components of DBO, in morning trading today Powershares Treasury Collateral Portfolio ( CLTL ) is trading flat, and Meta Financial Group ( CASH ) is higher by about 0.1%.
And on a percentage change basis, the ETF with the biggest outflow was the ProShares Short Oil & Gas ( DDG ), which lost 50,000 of its units, representing a 40.0% decline in outstanding units compared to the week prior.
VIDEO: DBO, DDG: Big ETF Outflows
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of DBO, in morning trading today Powershares Treasury Collateral Portfolio ( CLTL ) is trading flat, and Meta Financial Group ( CASH ) is higher by about 0.1%. VIDEO: DBO, DDG: Big ETF Outflows The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the PowerShares DB Oil Fund ( DBO ), where 11,800,000 units were destroyed, or a 27.7% decrease week over week. | Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the PowerShares DB Oil Fund ( DBO ), where 11,800,000 units were destroyed, or a 27.7% decrease week over week. VIDEO: DBO, DDG: Big ETF Outflows The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Among the largest underlying components of DBO, in morning trading today Powershares Treasury Collateral Portfolio ( CLTL ) is trading flat, and Meta Financial Group ( CASH ) is higher by about 0.1%. | Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the PowerShares DB Oil Fund ( DBO ), where 11,800,000 units were destroyed, or a 27.7% decrease week over week. VIDEO: DBO, DDG: Big ETF Outflows The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Among the largest underlying components of DBO, in morning trading today Powershares Treasury Collateral Portfolio ( CLTL ) is trading flat, and Meta Financial Group ( CASH ) is higher by about 0.1%. | Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the PowerShares DB Oil Fund ( DBO ), where 11,800,000 units were destroyed, or a 27.7% decrease week over week. Among the largest underlying components of DBO, in morning trading today Powershares Treasury Collateral Portfolio ( CLTL ) is trading flat, and Meta Financial Group ( CASH ) is higher by about 0.1%. VIDEO: DBO, DDG: Big ETF Outflows The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | b244637d-7ccb-4d79-8dc1-1b4b6790f861 |
709399.0 | 2018-04-16 00:00:00 UTC | Oil ETFs Rally on Geopolitical Tensions | DBO | https://www.nasdaq.com/articles/oil-etfs-rally-on-geopolitical-tensions-2018-04-16 | nan | nan | Oil prices have had a good week, as increased concerns in the Middle East caused investors to brace for a supply disruption. Although Energy Information Administration (EIA) data showed a higher-than-expected weekly increase in crude inventories, the markets shrugged off inventory build fears owing to geopolitical worries.
What's Impacting Prices?
Official data from the Energy Information Administration (EIA) showed a weekly increase of 3.3 million barrels for the week ending Apr 6, against analyst expectations of a decline in inventories of 189,000 barrels. Record high domestic production and surging imports led to the massive build. However, given that weekly EIA data is quite volatile, it did not impact investor sentiment to a great extent.
Talks between OPEC member nations and Russia to extend the production cut deal over the next 10 or 20 years have been a positive factor for crude prices in recent weeks. However, the latest trends in the space go to show that oil is being driven by more than just demand factors or OPEC.
Following a chemical attack on Syria, there has been a heated exchange of words between global leaders, questioning Russia and Iran's support to the Syrian president. President Trump threatened Russia of striking missiles on Syria, in response to Russian ambassador's threat to strike down any American craft attacking Syria. Although he later stated that an attack is not imminent, worries in the region are greatly driving crude prices (read: Russia ETFs Hit by Sanctions and Syria Attack ).
Moreover, tensions in Saudi Arabia are on the rise. Reports of a loud blast near the Saudi capital Riyadh unnerved investors. Saudi air defense forces intercepted at least three ballistic missiles fired by Yemen's Houthis, aimed at Saudi cities. As a result, investors fearing a supply disruption are driving crude higher.
Let us now discuss a few ETFs focused on providing exposure to the space (see all Energy ETFs here ).
United States Oil FundUSO
This fund focuses on providing exposure to WTI crude by investing in listed crude futures and other oil-related futures contracts, and it may also invest in forwards and swaps.
It has AUM of $2.0 billion and charges a fee of 77 basis points a year. The fund has returned 21.7% in a year and 12.6% so far this year.
iPath S&P GSCI Crude Oil Index ETNOIL
This fund seeks to provide futures-based exposure to WTI crude.
It has AUM of $592.3 million and charges a fee of 75 basis points a year. The fund has returned 29.2% in a year and 16.4% so far this year.
PowerShares DB Oil FundDBO
This fund focuses on providing futures-based exposure to WTI crude.
It has AUM of $488.7 million and charges a fee of 75 basis points a year. The fund has returned 24.6% in a year and 12.8% so far this year.
United States Brent Oil FundBNO
This fund focuses on providing exposure to Brent crude.
It has AUM of $93.5 million and charges a fee of 90 basis points a year. The fund has returned 32.0% in a year and 9.9% so far this year.
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US-OIL FUND LP (USO): ETF Research Reports
PWRSH-DB OIL FD (DBO): ETF Research Reports
US BRENT OIL FD (BNO): ETF Research Reports
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | PowerShares DB Oil FundDBO This fund focuses on providing futures-based exposure to WTI crude. Click to get this free report US-OIL FUND LP (USO): ETF Research Reports PWRSH-DB OIL FD (DBO): ETF Research Reports US BRENT OIL FD (BNO): ETF Research Reports To read this article on Zacks.com click here. Oil prices have had a good week, as increased concerns in the Middle East caused investors to brace for a supply disruption. | Click to get this free report US-OIL FUND LP (USO): ETF Research Reports PWRSH-DB OIL FD (DBO): ETF Research Reports US BRENT OIL FD (BNO): ETF Research Reports To read this article on Zacks.com click here. PowerShares DB Oil FundDBO This fund focuses on providing futures-based exposure to WTI crude. Although Energy Information Administration (EIA) data showed a higher-than-expected weekly increase in crude inventories, the markets shrugged off inventory build fears owing to geopolitical worries. | Click to get this free report US-OIL FUND LP (USO): ETF Research Reports PWRSH-DB OIL FD (DBO): ETF Research Reports US BRENT OIL FD (BNO): ETF Research Reports To read this article on Zacks.com click here. PowerShares DB Oil FundDBO This fund focuses on providing futures-based exposure to WTI crude. Although he later stated that an attack is not imminent, worries in the region are greatly driving crude prices (read: Russia ETFs Hit by Sanctions and Syria Attack ). | Click to get this free report US-OIL FUND LP (USO): ETF Research Reports PWRSH-DB OIL FD (DBO): ETF Research Reports US BRENT OIL FD (BNO): ETF Research Reports To read this article on Zacks.com click here. PowerShares DB Oil FundDBO This fund focuses on providing futures-based exposure to WTI crude. Although he later stated that an attack is not imminent, worries in the region are greatly driving crude prices (read: Russia ETFs Hit by Sanctions and Syria Attack ). | 77752179-928b-4bd4-95fd-cdcaefd8a5a5 |
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