Global Markets:
- Asian stock markets: Nikkei up 1.63 %, Shanghai Composite lost 0.29 %, Hang Seng rose 0.77 %, ASX 200 up 0.70 %
- Commodities: Gold at $1259.10 (0.13 %), Silver at $16.10 (0.23 %), WTI Oil at $57.62 (0.51 %), Brent Oil at $63.49 (0.41 %)
- Rates: US 10-year yield at 2.36, UK 10-year yield at 1.14, German 10-year yield at 0.30
News & Data:
- (AUD) New Motor Vehicle Sales m/m 0.1 % vs 0.0 % previous
- (JPY) Trade Balance 0.36 T vs 0.27 T expected
- (USD) Capacity Utilization Rate 77.1 % vs 77.2 % expected
- (USD) Industrial Production m/m 0.2 % vs 0.3 % expected
- (CAD) Manufacturing Sales m/m -0.4 % vs 0.9 % expected
- (USD) Empire State Manufacturing Index 18.0 vs 18.8 expected
- (EUR) Trade Balance 19.0 B vs 24.4 B expected
- Second bitcoin futures debut could lure volume to wild market
- Republicans confident tax bill will become law this week
- Oil edges up, though 2018 outlook cites ample supplies- RTRS
CFTC Positioning Data (Week ending Dec 12, 2017)
- EUR long 114K vs 93K last week. Longs increased by 21K
- GBP long 11K vs 6K long last week. Longs increased by 5K.
- JPY short 114K vs 114K short last week. No change.
- CHF short 29K vs 29K short last week. No change
- CAD long 42K vs 42K long last week. No change
- AUD long 41k vs 40K long last week. Longs increased by 1K
- NZD short 13K vs 13K short last week. No change
Markets Update:
Most Asia – Pacific markets opened on a positive note on Monday morning following a strong US lead from last Friday amid optimism about Republican agreement on the shape of U.S. tax cuts aimed at boosting growth in the world’s largest economy. However, Chinese stocks were marginally lower after the country’s central bank raised interest rates. Meanwhile, the launch of bitcoin futures on the CME exchange bolstered expectations the cryptocurrency’s red-hot rally in the cash market could continue.
USDJPY is mostly unchanged for the day, currently the Yen is seen trading around 112.63 per dollar, earlier in the Asian session the price had fallen to lows of 112.45 before trading back higher once Tokyo became active. Japan's Nikkei 225 added over 1.6 percent as trading houses and banks rose. Tech and automaker blue-chips also saw gains, while several construction names declined.
EURUSD was marginally up on Monday currently seen trading around 1.1770 as the EUR gained 0.2 percent against the US Dollar. The dollar index, which tracks the dollar against a basket of currencies fell close o.1 percent and is currently valued at 93.87. The yield on 10-year Treasuries rose one basis point, to 2.36 percent.
AUDUSD opened the week on a positive currently seen trading above 0.7665 as the AUD gained over 0.3 % percent against the US Dollar. Yields on 10-year Australian government bonds were little changed at 2.53 percent. Meanwhile, the Kiwi jumped over 0.4 percent against the US Dollar and is currently seen trading above 0.7020
Upcoming Events:
- 09:00 GMT – (EUR) Mid-Year Economic and Fiscal Outlook
- 10:00 GMT – (EUR) Italian Trade Balance
- 10:00 GMT – (EUR) Final CPI y/y
- 11:00 GMT – (EUR) German Buba Monthly Report
- 13:30 GMT – (CAD) Foreign Securities Purchases
- 15:00 GMT – (USD) NAHB Housing Market Index
- 21:00 GMT – (NZD) Westpac Consumer Sentiment
The Week Ahead:
Tuesday, December 19th
- Tentative – (NZD) GDT Price Index
- Tentative – (USD) FOMC Member Kashkari Speaks
- 00:00 GMT – (NZD) ANZ Business Confidence
- 00:30 GMT – (AUD) Monetary Policy Meeting Minutes
- 09:00 GMT – (EUR) German Ifo Business Climate
- 13:30 GMT – (USD) Building Permits
- 21:45 GMT – (NZD) Current Account
- 21:45 GMT – (NZD) Trade Balance
- & More…
Wednesday, December 20th
- 04:30 GMT – (JPY) All Industries Activity m/m
- 07:00 GMT – (EUR) German PPI m/m
- 09:00 GMT – (EUR) Current Account
- 13:00 GMT – (EUR) German Buba President Weidmann Speaks
- 13:15 GMT – (GBP) BOE Gov Carney Speaks
- 13:30 GMT – (CAD) Wholesale Sales m/m
- 15:00 GMT – (USD) Existing Home Sales
- 15:30 GMT – (USD) Crude Oil Inventories
- 21:45 GMT – (NZD) GDP q/q
- & More…
Thursday, December 21st
- Tentative – (JPY) Monetary Policy Statement
- Tentative – (JPY) BOJ Policy Rate
- 06:30 GMT – (JPY) BOJ Press Conference
- 09:30 GMT – (GBP) Public Sector Net Borrowing
- 13:30 GMT – (CAD) CPI m/m
- 13:30 GMT – (CAD) Core Retail Sales m/m
- 13:30 GMT – (USD) Final GDP q/q
- 13:30 GMT – (USD) Unemployment Claims
- 13:30 GMT – (USD) Philly Fed Manufacturing Index
- & More…
Friday, December 22nd
- 08:00 GMT – (CHF) KOF Economic Barometer
- 09:30 GMT – (GBP) Current Account
- 09:30 GMT – (GBP) Final GDP q/q
- 13:30 GMT – (CAD) GDP m/m
- 13:30 GMT – (USD) Core Durable Goods Orders m/m
- 15:00 GMT – (USD) New Home Sales
- 15:00 GMT – (USD) Revised UoM Consumer Sentiment
- & More…
