Global Markets:
- Asian stock markets: Nikkei up 1.85 %, Shanghai Composite gained 1.65 %, Hang Seng rose 0.05 , ASX 200 fell 1.95 %
- Commodities: Gold at $1092 (+0.45 %), Silver at $14.74 (+0.30 %), WTI Oil at $44.68 (+0.85 %), Brent Oil at $48.55 (+0.80 %)
- Rates: US 10 year yield at 2.34, UK 10 year yield at 2.03, German 10 year yield at 0.70
News & Data:
- China Trade Balance (Oct): USD 61.64bln (exp USD 62.00bln prev USD 60.34bln)
- China Exports (YoY) Oct: -6.9% (exp -3.2% prev -3.7%)
- China Imports (YoY) Oct: -18.8% (exp -15.2% prev -20.4%)
- Japan Labour Cash Earnings (YoY) Sep: 0.6% (exp 0.5% prev rev 0.4%)
- PBoC Fixes Yuan Reference Rate At 6.3578 (prev 6.3459)
- Iran To Unveil 50 New Oil Projects Soon, Investment Value Of USD 185bln — TNA
CFTC Positioning Data:
- EUR short 134K vs. short 106K prev.
- GBP long 188 vs. long 4K prev.
- JPY short 44k vs. short 34K prev.
- CAD short 19K vs. short 19K prev.
- CHF short 7K vs. long 1.5K prev.
- AUD short 39K vs. short 36K prev.
- NZD long 6.6K vs. long 5.6K prev.
Markets Update:
After Friday's rally, the US Dollar weakened somewhat overnight. EUR/USD bounced off the 1.0720 level and made it to 1.0790, while GBP/USD reached a high of 1.5075 after trading as low as 1.5025 post-NFP. USD/JPY remained bid however, amid demand from Japanese names. It opened around 123.25 in Sydney and rose to 123.48 overnight. The New Zealand Dollar was the strongest currency in the Asian session, as it rallied from 0.6520 to a high of 0.6565. Meanwhile, AUD/USD started the day at 0.7030 and made it to a high of 0.7060.
Upcoming Events:
- 07:00 GMT – German Trade Balance
- 09:30 GMT – Euro Zone Sentix Investor Confidence
- 15:00 GMT – US CB Employment Trends Index
- 17:00 GMT – FOMC Member Rosengren speaks
The Week Ahead (Key Data & Events):
Tuesday, November 10th
- 00:30 GMT – Australia Home Loans
- 02:00 GMT – Chinese CPI
- 02:00 GMT – Chinese PPI
- 06:45 GMT – Swiss Unemployment Rate
- 09:00 GMT – Norwegian CPI
- 20:05 GMT – RBNZ Governor Wheeler speaks
Wednesday, November 11th
- 05:30 GMT – Chinese Industrial Production
- 05:30 GMT – Chinese Retail Sales
- 09:30 GMT – UK Claimant Count Change
- 09:30 GMT – UK Unemployment Rate
- 10:30 GMT – Bank of England Governor Carney speaks
- 13:15 GMT – ECB President Draghi speaks
Thursday, November 12th
- 00:30 GMT – Australian Employment Change
- 00:30 GMT – Australian Unemployment Rate
- 07:00 GMT – German CPI
- 10:00 GMT – Euro Zone Industrial Production
- 13:30 GMT – US Initial Jobless Claims
- 14:15 GMT – FOMC Member Bullard speaks
- 15:00 GMT – US JOLTs Job Openings
Friday, November 13th
- 04:30 GMT – Japanese Industrial Production
- 06:30 GMT – French GDP
- 07:00 GMT – German GDP
- 10:00 GMT – Italian CPI
- 10:00 GMT – Euro Zone GDP
- 10:00 GMT – Euro Zone Trade Balance
- 13:30 GMT – US Retail Sales
- 13:30 GMT – US PPI
- 15:00 GMT – US Business Inventories
- 15:00 GMT – US Michigan Consumer Sentiment
