Latest update April 20th, 2018 11:07 AM
Dec 21, 2015 IC Markets Fundamental Analysis, Market Analysis Comments Off
Asian stock markets: Nikkei down 1.10 %, Shanghai Composite gained 1.40 %, Hang Seng rose 0.10 %, ASX 200 fell 0.15 %
Commodities: Gold at $1067 (+0.30 %), Silver at $14.13 (+0.30 %), WTI Oil at $35.80 (-0.73 %), Brent Oil at $36.34 (-0.90 %)
Rates: US 10 year yield at 2.21, UK 10 year yield at 1.83, German 10 year yield at 0.56
New Zealand Consumer Sentiment 110.7 (prev 106.0)
PBoC Fixes Yuan Reference Rate At 6.4753 (prev 6.4814)
Mideast Stocks Decline After Oil Sinks To Seven-Year Low — BBG
Saudi Oil Production Continues To Add Pressure On Prices — National
EUR short 160K vs. 172 short previous
GBP short 17K vs. 24K short previous
JPY short 27K vs. 68K short previous
CAD short 51K vs. 40K short previous
CHF long 2K vs. 26K short previous
AUD short 10K vs. 34K short previous
NZD long 1K vs. 9k long previous
EUR/USD started the new trading week around 1.0860, roughly 10 pips lower from Friday’s close. It rose to a high of 1.0885 after the Tokyo open, but ran out of momentum there and eventually fell back to 1.0865. Meanwhile, GBP/USD recovered some of the losses from the Friday session. It opened at 1.4895 in Sydney and rose to 1.4920 during the Asian session. USD/JPY remained quiet, following the chaotic trading on Friday caused by the BoJ announcement of further monetary policy easing. Overnight, the pair consolidated in a 121.03-38 range.
AUD/USD began the new trading week at 0.7165, little changed from Friday’s close. Price action was quiet overnight and the pair consolidated in a 0.7155-77 range. NZD/USD caught a bid after the Tokyo open and rallied from 0.6720 to 0.6753. Intraday resistance is seen at 0.6780 and then 0.6840.
The week is likely to be quiet with fewer important data releases and European & US markets closed on Friday for the Christmas holiday. The focus will be on US GDP data on Tuesday and UK & Canadian GDP data on Wednesday.
Upcoming Events:
07:00 GMT – German PPI
09:00 GMT – Spanish Trade Balance
15:00 GMT – Euro Zone Consumer Confidence
Tuesday, December 22th
07:00 GMT – German Consumer Climate
13:30 GMT – US GDP
15:00 GMT – US Existing Home Sales
15:00 GMT – US Richmond Manufacturing Index
Wednesday, December 23th
07:45 GMT – French GDP
09:30 GMT – UK GDP
10:00 GMT – Italian Retail Sales
13:30 GMT – US Durable Goods Orders
13:30 GMT – Canadian Retail Sales
13:30 GMT – Canadian GDP
15:00 GMT – US New Home Sales
Thursday, December 24th
04:00 GMT – Bank of Japan Governor Kuroda speaks
13:30 GMT – US Initial Jobless Claims
23:30 GMT – Japan CPI
Friday, December 25th
05:00 GMT – Japan Leading Index
05:00 GMT – Japan Housing Starts
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