Global Markets:
- Asian Stock Markets : Nikkei down 2.03%
- Commodities : Gold at $1577.55 (+0.36%), Silver at $18.17 (+0.30%), Brent Oil at $58.68 (-2.02%), WTI Oil at $53.06 (-2.09%)
- Rates : US 10-year yield at 1.648, UK 10-year yield at 0.559, Germany 10-year yield at -0.351
News & Data:
- (USD) Flash Manufacturing PMI 51.7 vs 52.4 expected
- (CAD) Retail Sales m/m 0.90% vs 0.60% expected
- (CAD) Core Retail Sales m/m 0.20% vs 0.50% expected
- (GBP) Flash Services PMI 52.9 vs 51.1 expected
- (GBP) Flash Manufacturing PMI 49.8 vs 48.8 expected
- (EUR) Flash Services PMI 52.2 vs 52.9 expected
- (EUR) Flash Manufacturing PMI 47.8 vs 46.9 expected
- (EUR) German Flash Services PMI 54.2 vs 53 expected
- (EUR) German Flash Manufacturing PMI 45.2 vs 44.5 expected
- (EUR) French Flash Manufacturing PMI 51 vs 50.6 expected
- (EUR) French Flash Services PMI 51.7 vs 52.2 expected
CFTC Positioning Data:
- EUR short 47K vs 48K short last week. Shorts trimmed by 1K
- GBP long 25K vs 31K long last week. Longs increased by 6K
- JPY short 45K vs 31K short last week. Shorts increased by 14k
- CHF 1.5K vs flat last week. Longs increased by 1.5K
- AUD short 19k vs 20K short last week. Shorts trimmed by 1K
- NZD long 1.8K vs square last week. Longs increased by 1.8K
- CAD long 38k vs 33K long last week. Longs increased by 5K.
Markets Update:
Asian stock markets are lower on Monday following the negative cues from Wall Street Friday amid concerns about the rapid spread as well as the economic impact of the coronavirus outbreak that has infected more than 2,700 people and killed 80 people in China. Trading volumes are thin with several markets in the region remaining shut for the Lunar New Year holidays.
Markets in Australia, China, Hong Kong, Singapore, South Korea, and Taiwan are closed for public holidays. The Japanese market is notably lower, while the safe-haven yen strengthened. The benchmark Nikkei 225 fell 2.03% while the Topix index declined 1.61%. In India, the Nifty 50 was down 0.4% while the Sensex slipped 0.44%.
The dollar index, which measures the U.S. dollar against a basket of its peers, traded at 97.860, climbing from an earlier low around 97.783. U.S. Treasury prices advanced, pushing down yields further, with the benchmark 10-year notes dropping to a 3-1/2-month trough of 1.627% in early Asian trade. The heightened fears of the economic impact of the coronavirus also pressured oil and other commodity prices, except safe-haven gold.
Upcoming Events:
Monday, January 27, 2020
- 09:00 AM GMT – (EUR) German Ifo Business Climate
Tuesday, January 28, 2020
- 08:00 AM GMT – (EUR) Spanish Unemployment Rate
- 01:30 PM GMT – (USD) Core Durable Goods Orders m/m
- 01:30 PM GMT – (USD) Durable Goods Orders m/m
- 03:00 PM GMT – (USD) CB Consumer Confidence
- 03:00 PM GMT – (USD) Richmond Manufacturing Index
Wednesday, January 29, 2020
- 12:30 AM GMT – (AUD) CPI q/q
- 12:30 AM GMT – (AUD) Trimmed Mean CPI q/q
- 03:30 PM GMT – (USD) Crude Oil Inventories
- 07:00 PM GMT – (USD) FOMC Statement
- 07:00 PM GMT – (USD) Federal Funds Rate
- 07:30 PM GMT – (USD) FOMC Press Conference
Thursday, January 30, 2020
- All Day – (EUR) German Prelim CPI m/m
- 12:00 PM GMT – (GBP) BOE Monetary Policy Report
- 12:00 PM GMT – (GBP) MPC Official Bank Rate Votes
- 12:00 PM GMT – (GBP) Monetary Policy Summary
- 12:00 PM GMT – (GBP) Official Bank Rate
- 01:30 PM GMT – (USD) Advance GDP q/q
- 01:30 PM GMT – (USD) Advance GDP Price Index q/q
Friday, January 31, 2020
- 01:00 AM GMT – (CNY) Manufacturing PMI
- 01:00 AM GMT – (CNY) Non-Manufacturing PMI
- 08:00 AM GMT – (EUR) Spanish Flash GDP q/q
- 10:00 AM GMT – (EUR) CPI Flash Estimate y/y
- 01:30 PM GMT – (CAD) GDP m/m
- 01:30 PM GMT – (CAD) RMPI m/m
- 01:30 PM GMT – (USD) Core PCE Price Index m/m
- 01:30 PM GMT – (USD) Employment Cost Index q/q
- 01:30 PM GMT – (USD) Personal Spending m/m
- 02:45 PM GMT – (USD) Chicago PMI
- &more…