Monday 28th September: European Open Briefing

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Global Markets:

  • Asian stock markets: Nikkei down 1.30 %, Shanghai Composite lost 0.20 %, ASX up 1.20 %, Hang Seng closed for holiday
  • Commodities: Gold at $1145 (-0.05 %), Silver at $15.05 (-0.45 %), WTI Oil at $45.30 (-0.85 %), Brent Oil at $48.25 (-0.25 %)
  • Rates: US 10 year yield at 2.15, UK 10 year yield at 1.84, German 10 year yield at 0.64

News & Data:

  • China Industrial Profits (YoY) Aug: -8.8% (prev -2.9%)
  • RBNZ: International Forces Remain Influence On Economy — BBG
  • RBNZ: Remain Concerned About Financial Stability Risks
  • Asia shares sag on caution, dollar consolidates – RTRS
  • Oil prices fall on slowing global economic growth outlook – RTRS
  • Subdued start with dollar steadier as rally fades – RTRS

CFTC Positioning Data:

  • EUR short 81K vs 82k short prior week
  • GBP long 1K vs. 4K short prior week
  • JPY short 24K vs. 27K short prior week
  • CAD short 38K vs. 47K short prior week
  • CHF short 2K vs 4K long prior week
  • AUD short 53K vs. 41K short prior week
  • NZD short 4K vs. 2K short prior week

Upcoming Events:

  • 08:00 BST – Bank of England Member Cunliffe speaks
  • 10:15 BST – FOMC Member Tarullo speaks
  • 13:30 BST – US Core PCE Price Index
  • 13:30 BST – FOMC Member Dudley speaks
  • 13:30 BST – US Personal Income
  • 13:30 BST – US Personal Spending
  • 15:00 BST – US Pending Home Sales
  • 22:00 BST – FOMC Member Williams speaks

The Week Ahead (Key Data/Events):

Tuesday, September 29th

  • 08:00 BST – Spanish CPI
  • 13:00 BST – German CPI
  • 15:00 BST – US CB Consumer Confidence
  • 20:40 BST – Bank of England Governor Carney speaks

Wednesday, September 30th

  • 00:50 BST – Japan Industrial Production
  • 00:50 BST – Japan Retail Sales
  • 02:30 BST – Australian Building Approvals
  • 08:55 BST – German Unemployment Rate
  • 08:55 BST – German Employment Change
  • 09:30 BST – UK GDP
  • 10:00 BST – Euro Zone CPI
  • 10:00 BST – Euro Zone Unemployment Rate
  • 13:15 BST – US ADP Nonfarm Employment Change
  • 13:30 BST – Canadian GDP
  • 14:45 BST – Chicago PMI
  • 20:00 BST – Fed Chair Yellen speaks

Thursday, October 1st

  • 00:50 BST – Japan Tankan Index
  • 02:00 BST – Chinese Manufacturing & Services PMI
  • 02:45 BST – Chinese Caixin Manufacturing & Services PMI
  • 08:15 BST – Swiss Retail Sales
  • 08:55 BST – German Manufacturing PMI
  • 09:30 BST – UK Manufacturing PMI
  • 13:30 BST – US Initial Jobless Claims
  • 15:00 BST – US ISM Manufacturing PMI

Friday, October 2nd

  • 02:30 BST – Australian Retail Sales
  • 09:30 BST – UK Construction PMI
  • 13:30 BST – US NFP
  • 13:30 BST – US Unemployment Rate
  • 13:30 BST – US Average Hourly Earnings
  • 15:00 BST – US Factory Orders
  • 18:30 BST – FOMC Member Fischer speaks

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