Global Markets:
- Asian stock markets: Nikkei up 0.61 %, Shanghai Composite gained 0.82 %, Hang Seng rose 0.77 %, ASX 200 up 0.07 %
- Commodities: Gold at $1251.80 (0.26 %), Silver at $15.88 (0.39 %), WTI Oil at $57.23 (-0.23 %), Brent Oil at $63.23 (-0.27 %)
- Rates: US 10-year yield at 2.38, UK 10-year yield at 1.28, German 10-year yield at 0.30
News & Data:
- (CNY) CPI y/y 1.7 % vs 1.8 % expected
- (CNY) PPI y/y 5.8 % vs 5.8 % expected
- (USD) Average Hourly Earnings m/m 0.2 % vs 0.3 % expected
- (USD) Unemployment Rate 4.1 % vs 4.1 % expected
- (USD) Prelim UoM Consumer Sentiment 96.8 vs 99.0 expected
- (GBP) Manufacturing Production m/m 0.1 % vs 0.1 % expected
- (GBP) Goods Trade Balance -10.8 B vs -11.5 B expected
- Oil prices drop on increased U.S. drilling activity- RTRS
- Bitcoin Futures began trading surging past $18,000
CFTC Positioning Data (Week ending Dec 5, 2017)
- EUR long 93K vs 90K long last week
- GBP long 6K vs 5K long last week
- JPY short 114K vs 110K short last week
- CHF short 29K vs 30K short last week
- CAD long 42K vs 46K long last week
- AUD long 40k vs 39K long last week
- NZD short 13K vs 14K short last week
Markets Update:
Asian – Pacific markets opened on a positive note on Monday morning amid optimism about global growth. Investors focused their attention on the launch of bitcoin futures, and an upcoming Federal Reserve meeting that's slated for later in the week. Bitcoin surged as futures of the digital currency began trade Sunday evening U.S. time, the January contract for bitcoin futures cracked the $18,000 level after opening trade at $15,460.
EURUSD was marginally up on Monday currently seen trading above 1.1780 as the EUR gained 0.1 percent against the US Dollar. The dollar index, which tracks the dollar against a basket of currencies fell o.1 percent and is currently valued at 93.81. The yield on 10-year Treasuries was steady at 2.38 percent.
The Australian Dollar opened the week on a positive note climbing close to 30 pips trading above 0.7530 as the AUD gained over 0.2 % percent against the US Dollar. Australia’s 10-year yield rose more than two basis points to 2.55 percent. Meanwhile, the Kiwi jumped close to 0.9 percent against the US Dollar and is currently seen trading above 0.6901.
USDJPY is currently seen trading around 113.50 down from session highs of around 113.69 as the Yen reversed its early losses against the US Dollar. Investors continued to remain positive and invested into Japanese stocks, Japan's Nikkei 225 drifted higher by 0.61 percent as most trading houses and automakers recorded gains.
Upcoming Events:
- 09:00 GMT – (EUR) Italian Retail Sales m/m
- 15:00 GMT – (USD) JOLTS Job Openings
- 18:01 GMT – (USD) 10-y Bond Auction
- 23:50 GMT – (JPY) PPI y/y
The Week Ahead:
Tuesday, December 12th
- 00:30 GMT – (AUD) HPI q/q
- 00:30 GMT – (AUD) NAB Business Confidence
- 09:30 GMT – (GBP) CPI y/y
- 09:30 GMT – (GBP) PPI Input m/m
- 09:30 GMT – (GBP) RPI y/y
- 13:30 GMT – (USD) PPI m/m
- 19:00 GMT – (EUR) ECB President Draghi Speaks
- 22:15 GMT – (AUD) RBA Gov Lowe Speaks
- & More…
Wednesday, December 13th
- 00:00 GMT – (AUD) RBA Assist Gov Kent Speaks
- 09:30 GMT – (GBP) Average Earnings Index 3m/y
- 13:30 GMT – (USD) CPI m/m
- 13:30 GMT – (USD) Core CPI m/m
- 15:30 GMT – (USD) Crude Oil Inventories
- 19:00 GMT – (USD) FOMC Economic Projection
- 19:00 GMT – (USD) FOMC Statement
- 19:00 GMT – (USD) Federal Funds Rate
- 19:00 GMT – (USD) FOMC Press Conference
- & More…
Thursday, December 14th
- 00:30 GMT – (AUD) Employment Change
- 00:30 GMT – (AUD) Unemployment Rate
- 02:00 GMT – (CNY) Industrial Production y/y
- 08:30 GMT – (CHF) Libor Rate
- 09:00 GMT – (CHF) SNB Press Conference
- 09:30 GMT – (GBP) Retail Sales m/m
- 12:00 GMT – (GBP) Official Bank Rate
- 12:45 GMT – (EUR) Minimum Bid Rate
- 13:30 GMT – (EUR) ECB Press Conference
- 13:30 GMT – (USD) Retail Sales m/m
- 13:30 GMT – (USD) Unemployment Claims
- 17:25 GMT – (CAD) BOC Gov Poloz Speaks
- & More…
Friday, December 15th
- 10:00 GMT – (EUR) Trade Balance
- 13:15 GMT – (GBP) MPC Member Haldane Speaks
- 13:30 GMT – (CAD) Manufacturing Sales m/m
- 13:30 GMT – (USD) Empire State Manufacturing Index
- 14:15 GMT – (USD) Capacity Utilization Rate
- 14:15 GMT – (USD) Industrial Production m/m
- & More…
