Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Fundamental Analysis
Cross Border Foreign Exchange Intermarket Analysis
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="maximusc, post: 106372, member: 38232"] DAILY US OPENING NEWS: Equities trade higher amid the positive risk sentiment, with the DAX also lifted higher following firm IFO survey 25th July 2016 Modest gains in European equities with the DAX further bolstered by firm post Brexit IFO survey data. Major FX pairs trading in ranges amid a lack of tier 1 data to instigate significant price action. The economic calendar is somewhat light today with highlights including the US Dallas Fed Manufacturing Index and a US 2-Yr Note Auction. ASIA-PACIFIC Asia equity markets mostly took the impetus from last week’s 4th consecutive weekly gain in US stocks, although Chinese markets slightly lagged on weak earnings and debt woes. ASX 200 (+0.6%) and Nikkei 225 (+0.3%) traded modestly higher following another record close in the S&P 500 on Friday with JPY weakness also uplifting Japanese exporter sentiment. However, Nintendo shares severely underperformed and fell nearly 20% in early Japanese trade after the Co. dismissed Pokemon Go’s potential impact on its earnings. Elsewhere, China markets are mixed with the Shanghai Comp. (+0.24%) initially negative amid debt concerns and comments from Chinese Finance Minister Lou who vowed prudence in dealing with the issue, although the index then recovered following a firm liquidity injection, while the Hang Seng (-0.2%) was weighed following reports of several profit warnings including Citic, which saw a potential 50% decline in interim results. Finally, 10yr JGBs traded higher despite positive sentiment in Japan, with the BoJ in the market for over JPY 1.2trl of government debt. PBoC announced a CNY 150bln injection via 7-day reverse repos. (Newswires) PBoC set CNY mid-point at 6.6860 vs. Prev. 6.6669. BoJ Governor Kuroda said on Saturday he would ease policy further if necessary to achieve the 2% inflation target, while he also reiterated a commitment to continue with the current stimulus until prices are anchored at the target. In separate reports, some BoJ officials said to be hesitant to support further policy easing. (Nikkei) Japanese Trade Balance Total (Jun) 692.8bln vs. Exp. 494.8bln (Prev. -40.7bln) - Exports (Jun) -7.40% vs. Exp. -11.60% (Prev. -11.30%) - Imports (Jun) -18.80% vs. Exp. -19.70% (Prev. -13.80%) EQUITIES/ FIXED INCOME Equites trade in the green this morning albeit modestly so, following on from a relatively positive session in Asia amid increased appetite for risk. Fixed income has been hit this morning with bund futures down as much as 10 ticks so far, notable outperformance has been observed in the front end, with the yield curve steepening. The German IFO data came in better than expected this morning to much surprise, given that the survey was conducted post Brexit and as such expectations had positioned themselves for a slightly weaker figure. Other than that we have seen some interesting equity specific news with William Hill up 8.8% on the news that they may be acquired by 888 holdings and Rank Group in a joint venture. FX German IFO was the only notable data release this morning, and in the wake of the Brexit vote, the market was anticipating some weakness in the numbers but were met with beats in expectation on all fronts. The EUR was unmoved on the release, but has edged higher against the USD since, though remains comfortably below 1.1000 as yet. GBP has also gained modestly against the greenback, resisting a move below 1.3100 to keep the EUR/GBP rate well contained in the mid .8300’s for now. USD/JPY attempted a return below 106.00 after rejecting 107.00 early on, but has found buyers here with a more positive FOMC and possible BoJ action eyed later in the week. CAD remains pressured alongside Oil prices, where front month WTI has moved under $44.00 again. 1.3200 a key level to watch for here, but decent offers seen ahead of this. AUD and NZD trade tight; downside momentum fading in both cases, despite the fresh calls for rate cuts in August – more so in NZ as alluded to in their impromptu economic review last week. COMMODITIES Heading into the North American cross, oil prices have seen muted price thus far with crude futures trending lower throughout much of the morning, in turn WTI has slipped below the USD 44.00 level. Elsewhere, gold has been pressured amid the positive risk sentiment, while copper prices were flat with the red metal failing any significant recovery from Friday’s slump. [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…