Global Markets:
- Asian Stock Markets : Nikkei up 0.49%, Shanghai Composite up 0.56%, Hang Seng up 1.03%, ASX down 0.40%
- Commodities : Gold at $1464.95 (-0.24%), Silver at $16.85 (-0.57%), Brent Oil at $63.20 (-0.16%), WTI Oil at $57.80 (-0.05%)
- Rates : US 10-year yield at 1.827, UK 10-year yield at 0.731, Germany 10-year yield at -0.335
News & Data:
- (USD) Retail Sales m/m 0.30% vs 0.10% expected
- (USD) Core Retail Sales m/m 0.20% vs 0.30% expected
- China central bank cuts 7-day reverse repo rate for first time since 2015
- Chinese Ministry of Commerce : China, U.S. trade negotiators in close contact
CFTC Positioning Data:
- EUR short 58K vs 61K short last week. Shorts trimmed by 3K
- GBP short 28K vs 29K short last week. Shorts trimmed by 1K
- JPY short 35K vs 27K short last week. Shorts increased by 8K
- CHF short 15K vs 14 K short last week. Shorts trimmed by 1K
- AUD short 41k vs 27K short last week. Shorts increased by 14K
- NZD short 36K vs 39K short last week. Shorts trimmed by 3K
- CAD long 42k vs 54K long last week. Longs trimmed by 12K.
Markets Update:
Asian stock markets are mostly higher on Monday with modest gains as investors awaited further progress on a potential U.S.-China trade deal. On Saturday, Chinese state media said that the U.S. and China had “constructive discussions” regarding a phase-one trade deal in a high-level phone call. The ongoing protests in Hong Kong also weighed on sentiment.
Japan’s Nikkei 225 added 0.5% while the Topix index traded slightly higher. Shares of Z Holdings — formerly known as Yahoo Japan — and Line rose more than 1% and 2%, respectively. The moves came as Softbank Corp announced plans to merge Z holdings, its subsidiary, with Naver’s Line. Mainland Chinese stocks recovered from an earlier slip to rise by the afternoon, with the Shanghai composite up 0.6% and the Shenzhen composite gaining 0.7%. Hong Kong’s Hang Seng index rose 1%, as shares of Chinese tech juggernaut Tencent jumped by over 2%.
In currency markets, the dollar was little changed against its main peers on Monday and well within recent tight trading ranges. Indeed, volatility in the market has been the lowest in decades recently and shows no sign of shifting.
Oil prices were supported after Brent touched a seven-week high on Friday.
Upcoming Events:
Monday, November 18, 2019
- 10:00 PM GMT – (AUD) RBA Assist Gov Kent Speaks
Tuesday, November 19, 2019
- 12:30 AM GMT – (AUD) Monetary Policy Meeting Minutes
- 01:30 PM GMT – (CAD) Manufacturing Sales m/m
- 01:30 PM GMT – (USD) Building Permits
- 06:00 PM GMT – (CAD) Gov Council Member Wilkins Speaks
Wednesday, November 20, 2019
- 01:30 PM GMT – (CAD) CPI m/m
- 01:30 PM GMT – (CAD) Common CPI y/y
- 01:30 PM GMT – (CAD) Median CPI y/y
- 01:30 PM GMT – (CAD) Trimmed CPI y/y
- 03:30 PM GMT – (USD) Crude Oil Inventories
- 07:00 PM GMT – (USD) FOMC Meeting Minutes
Thursday, November 21, 2019
- 12:30 PM GMT – (EUR) ECB Monetary Policy Meeting Accounts
- 01:30 PM GMT – (USD) Philly Fed Manufacturing Index
- 01:40 PM GMT – (CAD) BOC Gov Poloz Speaks
Friday, November 22, 2019
- 08:00 AM GMT – (EUR) ECB President Lagarde Speaks
- 08:15 AM GMT – (EUR) French Flash Services PMI
- 08:15 AM GMT – (EUR) French Flash Manufacturing PMI
- 08:30 AM GMT – (EUR) German Flash Manufacturing PMI
- 08:30 AM GMT – (EUR) German Flash Services PMI
- 09:00 AM GMT – (EUR) Flash Manufacturing PMI
- 09:00 AM GMT – (EUR) Flash Services PMI
- 01:30 PM GMT – (CAD) Core Retail Sales m/m
- 01:30 PM GMT – (CAD) Retail Sales m/m
- 02:45 PM GMT – (USD) Flash Manufacturing PMI
- &more…