Global Markets:
- Asian Stock Markets : Nikkei up 0.47%, Shanghai Composite up 0.75%, Hang Seng up 1.21%, ASX down 0.37%
- Commodities : Gold at $1553.65 (-0.41%), Silver at $18.00 (-0.56%), Brent Oil at $65.00 (+0.03%), WTI Oil at $59.12 (+0.14%)
- Rates : US 10-year yield at 1.834, UK 10-year yield at 0.774, Germany 10-year yield at -0.232
News & Data:
- (CAD) Employment Change 35.2K vs 24.9K expected
- (CAD) Unemployment Rate 5.60% vs 5.80% expected
- (USD) Average Hourly Earnings m/m 0.10% vs 0.30% expected
- (USD) Non-Farm Employment Change 145K vs 162K expected
- (USD) Unemployment Rate 3.50% vs 3.50% expected
CFTC Positioning Data:
- EUR short 61K vs 74K short last week. Shorts trimmed by 13K
- GBP long 17K vs 12K long last week. Longs increased by 5K
- JPY short 12K vs 25K short last week. Shorts trimmed by 13k
- CHF short 4K vs 6K short last week. Shorts trimmed by 2K
- AUD short 27k vs 38K short last week. Shorts trimmed by 11K
- NZD short 1K vs 5K short last week. Shorts trimmed by 4K
- CAD long 26k vs 12K long last week. Longs increased by 14K.
Markets Update:
Asian stock markets are near 19 month highs on Monday, even though the losses on Wall Street Friday after the U.S. Labor Department’s non-farm payroll data showed slower than expected job growth in the month of December. The Japanese market is closed for a holiday.
Investors now look ahead to the signing of the phase one trade deal between the U.S. and China on Wednesday. Chinese Vice Premier Liu He is scheduled to visit Washington this week to sign the trade deal.
Mainland China markets mostly rose in the morning. The Shanghai composite climbed 0.7%, while the Shenzhen composite climbed 1.3%. Hong Kong’s Hang Seng index, too, bounced 1.2%. Australia’s S&P/ASX 200 bucked the trend, declining 0.4%, with major miners and oil stocks seeing losses. In South Korea, the Kospi rose 1%, with cosmetics stocks notching significant gains.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was little changed on Monday, as it continued to hover above the 97 level. The safe-haven Japanese yen traded at 109.61 versus the greenback, weakening from last week. Oil prices were slightly firmer after suffering the first weekly loss since late November.
Upcoming Events:
Monday, January 13, 2020
- 09:30 AM GMT – (GBP) GDP m/m
- 09:30 AM GMT – (GBP) Manufacturing Production m/m
- 03:30 PM GMT – (CAD) BOC Business Outlook Survey
- 09:00 PM GMT – (NZD) NZIER Business Confidence
Tuesday, January 14, 2020
- Tentative – (CNY) Trade Balance
- Tentative – (CNY) USD-Denominated Trade Balance
- Tentative – (CNY) New Loans
- 01:30 PM GMT – (USD) CPI m/m
- 01:30 PM GMT – (USD) Core CPI m/m
Wednesday, January 15, 2020
- 12:30 AM GMT – (JPY) BOJ Gov Kuroda Speaks
- 08:40 AM GMT – (GBP) MPC Member Saunders Speaks
- 09:30 AM GMT – (GBP) CPI y/y
- 09:30 AM GMT – (GBP) PPI Input m/m
- 01:30 PM GMT – (USD) Core PPI m/m
- 01:30 PM GMT – (USD) PPI m/m
- 03:30 PM GMT – (USD) Crude Oil Inventories
- 04:00 PM GMT – (USD) FOMC Member Harker Speaks
- 05:00 PM GMT – (USD) FOMC Member Kaplan Speaks
Thursday, January 16, 2020
- 09:30 AM GMT – (GBP) BOE Credit Conditions Survey
- 12:30 PM GMT – (EUR) ECB Monetary Policy Meeting Accounts
- 01:30 PM GMT – (USD) Core Retail Sales m/m
- 01:30 PM GMT – (USD) Retail Sales m/m
- 01:30 PM GMT – (USD) Philly Fed Manufacturing Index
- 03:00 PM GMT – (USD) FOMC Member Bowman Speaks
- 06:00 PM GMT – (EUR) ECB President Lagarde Speaks
Friday, January 17, 2020
- 02:00 AM GMT – (CNY) GDP q/y
- 02:00 AM GMT – (CNY) Fixed Asset Investment ytd/y
- 02:00 AM GMT – (CNY) Industrial Production y/y
- 09:30 AM GMT – (GBP) Retail Sales m/m
- 01:30 PM GMT – (USD) Building Permits
- 02:00 PM GMT – (USD) FOMC Member Harker Speaks
- 03:00 PM GMT – (USD) Prelim UoM Consumer Sentiment
- Tentative – (USD) Treasury Currency Report
- &more…