- Posts: 2940
- Thank you received: 37
Dagelijkse Markt Analyse 11 Januari 2019
- Jelle
-
Topic Author
- Offline
- Administrator
-
• Pound may rise as BOE’s Carney keeps open mind on rate hikes
• US Dollar looks to Trump presser for economic policy specifics
• Yen down as Japan’s stocks rise, Aussie Dollar gains with yields
Testimony from Bank of England Governor Mark Carney before Parliament’s Treasury Select Committee is in focus in European trading hours. Realized and expected UK inflation are on the rise and Carney will probably get grilled about why this does not warrant tightening. This may translate into a conversation about the negative effects of Brexit-related uncertainty.
Rest van het artikel
"All right. This one time I'll let you ask me about my affairs."
Please Log in or Create an account to join the conversation.
- Jelle
-
Topic Author
- Offline
- Administrator
-
- Posts: 2940
- Thank you received: 37
• Gold prices set new 6-week high after Trump press conference
• Crude oil prices find de-facto strength as the US Dollar drops
• Even hawkish Fed-speak may fail to break overnight dynamics
Gold prices continued to rise and crude oilprices followed as a press conference with Donald Trump poured cold water on Fed rate hike speculation. The US President-elect did not offer much to markets yearning for details about his on-coming economic policy plans, which have been speculated to boost inflation and force Janet Yellen and company in to a steeper tightening cycle.
Rest van het artikel
"All right. This one time I'll let you ask me about my affairs."
Please Log in or Create an account to join the conversation.
- Jelle
-
Topic Author
- Offline
- Administrator
-
- Posts: 2940
- Thank you received: 37
• Bare European calendar puts US data roundup in focus
• US Dollar may rise as Fed rate hike speculation returns
• Sentiment trends sink Yen, boost Kiwi Dollar overnight
A next-to-empty European economic calendar puts the spotlight on US news-flow into the end of the trading week. Retail sales, consumer confidence and wholesale inflation figures are on tap, with improvements expected all around.
Rest van het artikel
"All right. This one time I'll let you ask me about my affairs."
Please Log in or Create an account to join the conversation.
- Jelle
-
Topic Author
- Offline
- Administrator
-
- Posts: 2940
- Thank you received: 37
• US Dollar drops with yields as “Trump trade” unwind returns
• Risk aversion may follow UK PM May Brexit strategy speech
• UK CPI at highest since 2014 unlikely to stir strong response
The US Dollar faced broad-based selling pressure as liquidity began to return after yesterday’s closure for the Martin Luther King Jr Day holiday. The greenback fell alongside US Treasury bond yields while gold prices rallied, suggesting the unwinding of the “Trump trade” – a dominant market theme since the start of 2017 – may be back in play. This narrative faded from view yesterday, yielding the spotlight to “hard Brexit” fears and offering the US currency a lifeline as a haven amid risk aversion.
Rest van het artikel
"All right. This one time I'll let you ask me about my affairs."
Please Log in or Create an account to join the conversation.
- Jelle
-
Topic Author
- Offline
- Administrator
-
- Posts: 2940
- Thank you received: 37
• Gold prices extend win streak as “Trump trade” unwinding resumes
• US CPI data may reboot Fed rate hike bets, weigh on precious metals
• Crude oil prices mark time, may find renewed momentum in API data
Gold prices accelerated upward, posting the largest advance in two weeks. In a familiar fashion, the metal rose as the US Dollar fell alongside Treasury bond yields, boosting the appeal of anti-fiat and non-interest-bearing assets.
Rest van het artikel
"All right. This one time I'll let you ask me about my affairs."
Please Log in or Create an account to join the conversation.
- Jelle
-
Topic Author
- Offline
- Administrator
-
- Posts: 2940
- Thank you received: 37
- European Central Bank (ECB) to Preserve Zero-Interest Rate Policy (ZIRP), QE Program.
- Will the Governing Council Keep the Door Open to Further Embark on Its Easing-Cycle?
Even though the European Central Bank (ECB) is widely anticipated to retain the status quo at the first interest rate decision for 2017, the fresh rhetoric from President Mario Draghi and Co. may shake up the near-term outlook for EUR/USD especially as the Governing Council is on course to reduce the asset-purchase program starting in April.
Rest van het artikel
"All right. This one time I'll let you ask me about my affairs."
Please Log in or Create an account to join the conversation.
- Jelle
-
Topic Author
- Offline
- Administrator
-
- Posts: 2940
- Thank you received: 37
• US Dollar edges higher as focus turns to Donald Trump’s inauguration
• Follow-through uncertain as markets grope for US fiscal policy details
• Aussie, Kiwi Dollars suffer outsized losses as Treasury bond yields rise
The US Dollar managed tepid gains against its major counterparts in early European trade having mostly meandered in narrow ranges through the Asia session. Meaningful trend development remains elusive however, with momentum proving only just sufficient to retrace yesterday’s losses.
Rest van het artikel
"All right. This one time I'll let you ask me about my affairs."
Please Log in or Create an account to join the conversation.
- Jelle
-
Topic Author
- Offline
- Administrator
-
- Posts: 2940
- Thank you received: 37
• Gold prices rise as “Trump trade” unwinding resumes
• Crude oil prices unable to fully capitalize on weak USD
• Follow-through likely but headline risk a potent threat
Gold prices are on the upswing to start the trading week as “Trump trade” unwinding returns with gusto. The US Dollar is facing heavy selling pressure, which has understandably translated into support for anti-fiat assets including the yellow metal.
Rest van het artikel
"All right. This one time I'll let you ask me about my affairs."
Please Log in or Create an account to join the conversation.
- Jelle
-
Topic Author
- Offline
- Administrator
-
- Posts: 2940
- Thank you received: 37
• Crude oil prices muted as US Dollar, OPEC compete for influence
• API inventories data may show swing producers to undo supply cut
• Gold prices continue to find support in “Trump trade” unwinding
Crude oil are marking time in familiar territory, with traders seemingly uninspired to take firm directional bets amid a tug of war between supportive US Dollar weakness and skepticism about the lasting influence of OPEC’s supply cut deal. Weekly inventory flow data from API may get help break the deadlock in the coming hours.
Rest van het artikel
"All right. This one time I'll let you ask me about my affairs."
Please Log in or Create an account to join the conversation.
- Jelle
-
Topic Author
- Offline
- Administrator
-
- Posts: 2940
- Thank you received: 37
- German business confidence fell unexpectedly in January, hitting its lowest level since September
- The Munich-based Ifo economic institute said its business climate index fell to 109.8 from 111.0 in December; the January reading compared with a consensus forecast of a rise to 111.3
- However, the news was shrugged off by traders in EURUSD, which climbed gently
German business confidence fell unexpectedly in January, according to Germany’s Ifo institute. It said its business climate index, based on a monthly survey of around 7,000 firms, fell to 109.8 from 111.0 in December rather than rising to 111.3 as expected by analysts.
Rest van het artikel
"All right. This one time I'll let you ask me about my affairs."
Please Log in or Create an account to join the conversation.
- Jelle
-
Topic Author
- Offline
- Administrator
-
- Posts: 2940
- Thank you received: 37
• British Pound unlikely to find strong lead in 4Q UK GDP data
• Trump-watching continues to preoccupy the financial markets
• An augmented “Trump trade” narrative may be taking shape
The British Pound outperformed in overnight trade, seemingly not bothered by an approaching UK GDP report that is expected to show growth slowed in the fourth quarter. The figures are expected to reveal output grew at an on-year rate of 2.1 percent, a downtick from the 2.2 percent expansion scored in the three months to September 2016.
Rest van het artikel
"All right. This one time I'll let you ask me about my affairs."
Please Log in or Create an account to join the conversation.
- Jelle
-
Topic Author
- Offline
- Administrator
-
- Posts: 2940
- Thank you received: 37
• Gold prices may extend losses if 4Q US GDP tops forecasts
• Follow-through requires clearer view on fiscal policy trends
• Crude oil prices pop as White House floats tariff on Mexico
Gold prices are heading for fourth consecutive day of losses, this time bedeviled by a recovering US Dollar. The yellow metal just can’t seem to catch a break this week. The greenback notably diverged from risk on/off dynamics earlier in the week, but gold suffered all the same as borrowing costs rose. Now, with the US currency on the upswing and yields treading water, the standby anti-fiat asset looks no more attractive to investors.
Rest van het artikel
"All right. This one time I'll let you ask me about my affairs."
Please Log in or Create an account to join the conversation.
- Jelle
-
Topic Author
- Offline
- Administrator
-
- Posts: 2940
- Thank you received: 37
• Japanese Yen soars as sentiment sours across financial markets
• British Pound down as markets bet on dovish “Super Thursday”
• Euro may not find lasting support as German CPI hits 2 percent
The Japanese Yen outperformed as market sentiment soured in Asian trade, offering support to the standby anti-risk currency. More of the same looks to be brewing ahead. European shares are firmly in the red as markets in the region come online and S&P 500 futures are pointing decidedly lower, hinting that the going will not get any easier after the opening bell on Wall Street.
Rest van het artikel
"All right. This one time I'll let you ask me about my affairs."
Please Log in or Create an account to join the conversation.
- Jelle
-
Topic Author
- Offline
- Administrator
-
- Posts: 2940
- Thank you received: 37
• British Pound, Yen retrace yesterday’s outsized moves vs. FX majors
• Euro unlikely to find potent lead in German jobs, Eurozone CPI data
• Trump-watching will probably overshadow sparse economic docket
Currency markets delivered a mixed performance in Asian trade. The British Pound was a narrow standout, rising against its major counterparts in a move that looked corrective after the prior day’s laggard showing. The Japanese Yen ticked lower for seemingly analogous reasons, with prices probably in digestion mode after scoring the largest gain in a week in yesterday’s session.
Rest van het artikel
"All right. This one time I'll let you ask me about my affairs."
Please Log in or Create an account to join the conversation.
- Jelle
-
Topic Author
- Offline
- Administrator
-
- Posts: 2940
- Thank you received: 37
• Gold prices rise most in a month as the “Trump trade” gives ground
• Cautious FOMC posture may undermine rate hike speculation further
• Crude oil prices struggle to bank on weak USD as inventories swell
Gold prices rose as the US Dollar dropped alongside Treasury bond yields, bolstering the appeal of non-interest-bearing and anti-fiat assets. The move appeared to reflect continued unwinding of the so-called “Trump trade” amid skepticism about one of its central narratives: a steep Fed rate hike cycle triggered by inflationary growth courtesy of fiscal largesse.
Rest van het artikel
"All right. This one time I'll let you ask me about my affairs."
Please Log in or Create an account to join the conversation.
- Jelle
-
Topic Author
- Offline
- Administrator
-
- Posts: 2940
- Thank you received: 37
• All eyes on Bank of England as “Super Thursday” looms ahead
• Carney and company likely to maintain a broadly dovish posture
• Creeping BOE rate hike bets make British Pound vulnerable
All eyes are on the Bank of England ahead of the quarterly flood of economic policy is “Super Thursday”. An updated Inflation Report laying out where officials intend to steer in the coming months is due to be released and Governor Mark Carney will hold a presser to discuss its contents. The central bank will also release the outcome of and minutes from the latest meeting of the rate-setting MPC committee.
Rest van het artikel
"All right. This one time I'll let you ask me about my affairs."
Please Log in or Create an account to join the conversation.
- Jelle
-
Topic Author
- Offline
- Administrator
-
- Posts: 2940
- Thank you received: 37
• US Dollar faces asymmetric downside risk on payrolls report
• Yen falls as BOJ boosts effort to burnish its dovish credentials
• Aussie, NZ Dollars fall as Chinese stocks reopen after holiday
All eyes are on January’s US employment figures into the end of the trading week. A broadly on-trend gain of 180k jobs is expected. US economic news-flow has tended to outperform relative to consensus forecasts recently, opening the door for a more upbeat result. Absent a blowout however, even a rosy print will not do much to allay the markets’ fiscal policy uncertainty fears or – for that matter – those of the Fed.
Rest van het artikel
"All right. This one time I'll let you ask me about my affairs."
Please Log in or Create an account to join the conversation.
- Jelle
-
Topic Author
- Offline
- Administrator
-
- Posts: 2940
- Thank you received: 37
• Crude oil prices seesaw on Iran sanctions, rising swing output
• Gold prices rise as US jobs data cools Fed rate hike speculation
• Light data docket puts Washington, DC firmly in the spotlight
Crude oil prices were in for a wild ride in Friday’s session. The WTI benchmark soared after the US imposed a round of new sanctions on Iran having taken issue with the latter country’s ballistic missile tests. The move failed to follow through however and prices swiftly retreated ahead of the weekly Baker Hughes rig count report crossed the wires.
Rest van het artikel
"All right. This one time I'll let you ask me about my affairs."
Please Log in or Create an account to join the conversation.
- Jelle
-
Topic Author
- Offline
- Administrator
-
- Posts: 2940
- Thank you received: 37
• US Dollar soars as White House moves to weaken Dodd-Frank law
• Yen gains as Asian stocks fall, NZ Dollar higher on inflation survey
• Australian Dollar gets a lift from status-quo RBA policy statement
The US Dollar launched a dramatic recovery against the major currencies in late Asian trade, with prices on pace to deliver the largest advance in three weeks. The move tracked a jump in front-end US Treasury bond yields, hinting that a pickup in Fed rate hike speculation may be the catalyst at work. US President Trump’s move to weaken the Dodd-Frank bank regulation framework may be behind the move.
Rest van het artikel
"All right. This one time I'll let you ask me about my affairs."
Please Log in or Create an account to join the conversation.
- Jelle
-
Topic Author
- Offline
- Administrator
-
- Posts: 2940
- Thank you received: 37
• EUR/USD Technical Strategy: Pending short at 1.0767
• Euro breaks monthly support, hints long-term down trend resuming
• Near-term upswing sought to enter short position below 1.08 figure
The Euro turned lower as expected after hitting a two-month high against the US Dollar, with chart positioning hinting the longer-term down trend is resuming. Prices broke through support formed by the floor of a Rising Wedge chart pattern, suggesting the corrective upswing from January lows has ended.
Rest van het artikel
"All right. This one time I'll let you ask me about my affairs."
Please Log in or Create an account to join the conversation.