Tuesday 19th September: European Open Briefing

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Tuesday 19th September: European Open Briefing 1

Global Markets:

  • Asian stock markets: Nikkei rose 1.65 %, Shanghai Composite fell 0.29 %, Hang Seng down 0.08 %, ASX 200 up 0.11 %
  • Commodities: Gold at $1311.30 (0.03 %), Silver at $17.20 (0.32 %), WTI Oil at $50.29 (-0.12 %), Brent Oil at $55.38 (-0.18%)
  • Rates: US 10-year yield at 2.20, UK 10-year yield at 1.30, German 10-year yield at 0.45

News & Data:

  • (AUD) HPI q/q 1.9 % vs 1.2 % expected
  • (USD) TIC Long-Term Purchases 1.3 B vs 42.3 B expected
  • (EUR) Italian Trade Balance 6.56 B vs 3.89 B expected
  • (EUR) Final CPI y/y 1.5 % vs 1.5 % expected
  • (EUR) Final Core CPI y/y 1.2 % vs 1.2 % expected
  • (CAD) Foreign Securities Purchases 23.95 B vs 4.46 B expected
  • Oil stable on lower Saudi exports, but rising U.S. shale output caps market – RTRS
  • UK PM May Calls Special Brexit Cabinet Meeting – Times
  • Toys 'R' Us Files for Bankruptcy In Richmond, Virginia – CNBC

Markets Update:

Asian equity markets were mixed early on Tuesday, while the wall street ended on a record high on Monday, Global investors deferred taking any major positions ahead of the Federal Reserve’s policy meeting that’s expected to focus on unwinding stimulus efforts.  Japan was a bright spot in global markets Tuesday, coming off a holiday a day earlier

USD/JPY is currently seen trading steadily around 110.50, The yen was mostly seen ranging between 111.40 to 111.60 for most of the session early on Tuesday with no major movements as investors wait on sidelines ahead of The Bank of Japan meet this week. Notably, the Yen had lost 0.7 percent against the US dollar on Monday.

AUDUSD jumped as high as 0.7994 against the US Dollar during the RBA minutes earlier on Tuesday, but lost most of its gains and is currently seen trading back under 0.7970. The Newzealand dollar is currently seen trading around 0.7280 as the Kiwi added 0.2 percent against the US Dollar after falling 0.5 percent in the previous session

EUR/USD is currently seen trading at 1.1967 as the Euro was up 0.1 percent against the US Dollar. The dollar index, which tracks the dollar against a basket of currencies was flat and is currently valued at 91.95 after climbing 0.3 percent on Monday.

Upcoming Events:

  • 09:00 GMT – (EUR) German ZEW Economic Sentiment
  • 12:30 GMT – (CAD) Manufacturing Sales m/m
  • 12:30 GMT – (USD) Building Permits
  • 12:30 GMT – (USD) Current Account
  • 12:30 GMT – (USD) Housing Starts
  • 12:30 GMT – (USD) Import Prices m/m
  • 22:45 GMT – (NZD) Current Account
  • Tentative – (NZD) GDT Price Index

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