Global Markets:
- Asian Stock Markets : Hang Seng down 1.47%, ASX down 0.08%
- Commodities : Gold at $1199.50 (-0.15%), Silver at $14.24 (-0.83%), Brent Oil at $79.72 (+1.89%), WTI Oil at $72.06 (+1.81%)
- Rates : US 10-year yield at 3.070, UK 10-year yield at 1.557, Germany 10-year yield at 0.458
News & Data:
- (CAD) Trimmed CPI y/y 2.20% vs 2.10% previous
- (CAD) Retail Sales m/m 0.30% vs 0.30% expected
- (CAD) Median CPI y/y 2.10% vs 2.00% previous
- (CAD) Common CPI y/y 2.00% vs 1.90% previous
- (CAD) Core Retail Sales m/m 0.90% vs 0.60% expected
- (CAD) CPI m/m -0.10% vs -0.10% expected
- (GBP) Public Sector Net Borrowing 5.9B vs 2.9B expected
- (EUR) Flash Services PMI 54.7 vs 54.5 expected
- (EUR) Flash Manufacturing PMI 53.3 vs 54.4 expected
- (EUR) German Flash Services PMI 56.5 vs 55.1 expected
- (EUR) German Flash Manufacturing PMI 53.7 vs 55.7 expected
- (EUR) French Flash Services PMI 54.3 vs 55.2 expected
- (EUR) French Flash Manufacturing PMI 52.5 vs 53.3 expected
CFTC Positioning Data (Week Ending Sep 18th, 2018):
- EUR long 2K vs 11K long last week. Longs trimmed by 9K
- GBP short 79K vs 61K short last week. Shorts increased by 18K
- JPY short 64K vs 54K short last week. Shorts increased 10K
- CHF short 18K vs 35K short last week. Shorts trimmed 17K
- CAD short 30K vs 27K short last week. Shorts increased 3K
- AUD short 68k vs 44k short last week. Shorts increased by 24K
- NZD short 32K vs 23K short last week. Shorts increased by 9K
Markets Update:
Asian stock markets are mostly lower on Monday in cautious trade following the mixed cues from Wall Street Friday and as investors focused on U.S.-China trade tensions. The Wall Street Journal reported that China has cancelled planned trade talks with the U.S., just hours before the next round of tit-for-tat trade tariffs announced by the two countries take effect later today.
The markets in Japan, South Korea, China and Taiwan are closed for public holidays on Monday.
Australia and Hong Kong's markets remained in broadly negative territory on Monday afternoon, following tariffs between the U.S. and China that kicked in. The ASX 200 recovered from its earlier losses but still traded slightly lower in the afternoon, with the heavily weighted financial sector also making a turnaround.
Hong Kong's Hang Seng index remained in negative territory as it was lower by almost 1.5 percent in the afternoon, with property developer Country Garden's stock still down by 5.75 percent.
The U.S. dollar currency index, which tracks the greenback against a basket of currencies, was at 94.266 strengthening slightly as compared to its performance in the morning of Asian trade.
Upcoming Events:
Monday, September 24th 2018
- 09:00 AM GMT – (EUR) German Ifo Business Climate
- 02:00 PM GMT – (EUR) ECB President Draghi Speaks
Tuesday, September 25th 2018
- 06:35 AM GMT – (JPY) BOJ Gov Kuroda Speaks
- 09:40 AM GMT – (GBP) MPC Member Vlieghe Speaks
- 03:00 PM GMT – (USD) CB Consumer Confidence
- 11:45 PM GMT – (NZD) Trade Balance
Wednesday, September 26th 2018
- 02:00 AM GMT – (NZD) ANZ Business Confidence
- 03:30 PM GMT – (USD) Crude Oil Inventories
- 07:00 PM GMT – (USD) FOMC Economic Projections
- 07:00 PM GMT – (USD) FOMC Statement
- 07:00 PM GMT – (USD) Federal Funds Rate
- 07:30 PM GMT – (USD) FOMC Press Conference
- 10:00 PM GMT – (NZD) Official Cash Rate
- 10:00 PM GMT – (NZD) RBNZ Monetary Policy Statement
- 10:00 PM GMT – (NZD) RBNZ Rate Statement
- 11:00 PM GMT – (NZD) RBNZ Press Conference
Thursday, September 27th 2018
- All Day GMT – (EUR) German Prelim CPI m/m
- 09:00 AM GMT – (EUR) M3 Money Supply y/y
- 01:30 PM GMT – (USD) Core Durable Goods Orders m/m
- 01:30 PM GMT – (USD) Final GDP q/q
- 01:30 PM GMT – (USD) Durable Goods Orders m/m
- 02:30 PM GMT – (EUR) ECB President Draghi Speaks
- 09:30 PM GMT – (USD) Fed Chair Powell Speaks
- 10:45 PM GMT – (CAD) BOC Gov Poloz Speaks
Friday, September 28th 2018
- 08:00 AM GMT – (CHF) KOF Economic Barometer
- 09:00 AM GMT – (EUR) Spanish Flash CPI y/y
- 09:30 AM GMT – (GBP) Current Account
- 09:30 AM GMT – (GBP) Final GDP q/q
- 10:00 AM GMT – (EUR) CPI Flash Estimate y/y
- 10:00 AM GMT – (EUR) Core CPI Flash Estimate y/y
- 01:30 PM GMT – (CAD) GDP m/m
- 01:30 PM GMT – (CAD) RMPI m/m
- 01:30 PM GMT – (USD) Core PCE Price Index m/m
- 01:30 PM GMT – (USD) Personal Spending m/m
- 02:20 PM GMT – (GBP) MPC Member Ramsden Speaks
- 02:45 PM GMT – (USD) Chicago PMI
- 03:00 PM GMT – (USD) Revised UoM Consumer Sentiment
