Monday 21st August: European Open Briefing

IC Markets No Comments
Monday 21st August: European Open Briefing 1

Global Markets:

  • Asian stock markets: Nikkei down 0.39 %, Shanghai Composite rose 0.30 %, Hang Seng climbed 0.52 %, ASX 200 fell 0.64 %
  • Commodities: Gold at $1291.03 (-0.04 %), Silver at $16.93 (-0.51 %), WTI Oil at $48.66 (-0.00 %), Brent Oil at $52.70 (-0.04 %)
  • Rates: US 10-year yield at 2.19, UK 10-year yield at 1.09, German 10-year yield at 0.41

News & Data:

  • USD Prelim UoM Consumer Sentiment 97.6 vs 94.0 expected
  • NZD Credit Card Spending y/y 7.2 % vs 8.3 % expected
  • JPY All Industries Activity m/m 0.4 % vs 0.5 % expected
  • CAD CPI m/m 0.0% vs -0.1 % previous
  • CAD Common CPI y/y 1.4 % vs 1.4 % previous
  • CAD Median CPI y/y 1.7 % vs 1.6 % previous
  • CAD Trimmed CPI y/y 1.3% vs 1.2% previous
  • Oil steady as market conditions tighten despite rising U.S. output- RTRS

CFTC Positioning Data:

  • EUR long 79K vs 94K long last week. Longs trimmed 15K
  • GBP short 32K vs 25K short last week. Shorts increased 7K
  • JPY short 77K vs 96K short last week. Shorts trimmed by 19K
  • CHF short 1K vs 1K short last week. No change
  • CAD long 51K vs 63K long. CAD longs trimmed by 12K
  • AUD long 60k vs 58k last week.  Longs increased by 2K
  • NZD long 25K vs 33K long last week. Longs trimmed by 8K

Markets Update:

Asian equities markets opened mixed on Monday as investors remained unconvinced due to political uncertainties in the U.S and the war drills scheduled for the Korean peninsula.

USD/JPY is little changed this morning, despite the pair ranging 230 pips last week, The Yen is currently seen trading at 109.22 after falling 0.1 percent against the US Dollar, not far from Friday's four-month low of 108.605.

EUR/USD has barely moved in the session so far with a range of just around 10 pips, Notably the Euro continues to be stuck in its rough $1.17-$1.18 range in the past two weeks. The ranging is likely to continue as there are No high-impacting events scheduled to be released today.

AUDUSD was little changed and continued to trade in a small range with not much volatility, The Aussie is currently seen trading at 79.29 U.S. cents after gaining 0.6 percent on Friday.

Upcoming Events:

  • 12:00 GMT – (CAD) Wholesale Sales m/m

The Week Ahead:

Tuesday, August 22nd

  • 08:30 GMT – (GBP) Public Sector Net Borrowing
  • 09:00 GMT – (EUR)German ZEW Economic Sentiment
  • 12:30 GMT – (CAD) Core Retail Sales m/m
  • 12:30 GMT – (CAD) Retail Sales m/m

Wednesday, August 23rd

  • 07:00 GMT – (EUR) ECB President Draghi Speaks
  • 07:00 GMT – (EUR) French Flash Manufacturing PMI
  • 07:00 GMT – (EUR) French Flash Services PMI
  • 07:30 GMT – (EUR) German Flash Manufacturing PMI
  • 07:30 GMT – (EUR) German Flash Services PMI
  • 08:00 GMT – (EUR) Flash Manufacturing PMI
  • 08:00 GMT – (EUR) Flash Services PMI
  • 13:05 GMT – (USD) FOMC Member Kaplan Speaks
  • 14:00 GMT – (USD) New Home Sales
  • 14:30 GMT – (USD) Crude Oil Inventories

Thursday, August 24th

  • 08:30 GMT – (GBP) Second Estimate GDP q/q
  • 08:30 GMT – (GBP) Prelim Business Investment q/q
  • 12:30 GMT – (USD) Unemployment Claims
  • 14:00 GMT – (USD) Existing Home Sales

Friday, August 25th

  • 08:00 GMT – (EUR) German Ifo Business Climate
  • 12:30 GMT – (USD) Core Durable Goods Orders m/m
  • 12:30 GMT – (USD) Durable Goods Orders m/m
  • 19:00 GMT – (USD) ECB President Draghi Speaks

Published by

Avatar

IC Markets

IC Markets is revolutionizing on-line forex trading; on-line traders are now able to gain access to pricing and liquidity previously only available to investment banks and high net worth individuals.