Global Markets:
- Asian Stock Markets : Nikkei up 0.25%, Shanghai Composite down 0.37%, Hang Seng up 0.08%, ASX up 0.04%
- Commodities : Gold at $1494.55 (+0.03%), Silver at $17.72 (+0.80%), Brent Oil at $59.35 (-0.12%), WTI Oil at $53.88 (+0.02%)
- Rates : US 10-year yield at 1.769, UK 10-year yield at 0.706, Germany 10-year yield at -0.372
News & Data:
- (EUR) German PPI m/m 0.10% vs -0.10% expected
- (JPY) All Industries Activity m/m 0.00% vs 0.10% expected
- (NZD) Credit Card Spending y/y 4.80% vs 6.00% previous
- (JPY) Trade Balance -0.10T vs -0.17T expected
- (GBP) Rightmove HPI m/m 0.60% vs -0.20% previous
- (GBP) Parliament Brexit Vote Pass
- (USD) CB Leading Index m/m -0.10% vs 0.10% expected
- (EUR) Current Account 26.6B vs 21.3B expected
- RBA Policy debate hinges around risks of ultra low rates
- Chinese Central bank head says Yuan rate ‘broadly stable’
- Johnson to Renew Push to Get Brexit Deal Through Parliament
CFTC Positioning Data:
- EUR short 75K vs 75K short last week. Unchanged
- GBP short 73K vs 73K short last week. Unchanged
- JPY short 7K vs 11K long last week. Longs switch to shorts in an 18K drop
- CHF short 13k vs 11k short last week. Shorts trimmed by 1K
- AUD short 48k vs 46k short last week. Shorts increased by 2K
- NZD short 40K vs 38K short last week. Shorts increased by 2K
- CAD long 13K vs 5K long last week. Longs trimmed by 1K.
Markets Update:
Asian stock markets are mixed on Monday following the negative cues from Wall Street Friday and amid uncertainty about the final outcome of Brexit. The British parliament delayed a vote on Prime Minister Boris Johnson’s withdrawal deal, forcing him to seek another postponement of Britain’s departure from the European Union.
Mainland Chinese shares traded down: The Shanghai composite fell 0.4%, the Shenzhen composite was down 0.3% and the Shenzhen component lost 0.1%. In Hong Kong, the Hang Seng index advanced 0.1%. The Japanese market is modestly higher, with the benchmark Nikkei 225 Index adding 0.3%. The Australian market is extending losses from Friday, following the negative cues from Wall Street and on worries about the final outcome of Brexit.
The pound slipped from a five-month high against the dollar and the euro after the British parliament forced Prime Minister Boris Johnson to seek a delay to an Oct. 31 deadline for Britain’s departure from the bloc. Also on Friday, U.S. President Donald Trump said he thinks a trade deal between the United States and China will be signed by the time Asia-Pacific Economic Cooperation meetings take place in Chile on Nov. 16-17.
Long bets on U.S. crude have dropped sharply in the last two weeks after a spate of weak economic figures worldwide fanned concerns about global energy demand. Treasury prices fell in Asia. The yield on benchmark 10-year Treasury notes rose to 1.7607%. Gold, often considered safe-haven asset, was little changed at $1,490.60 per ounce.
Upcoming Events:
Monday, October 21, 2019
- All Day – (CAD) Federal Election
Tuesday, October 22, 2019
- 12:30 PM GMT – (CAD) Core Retail Sales m/m
- 12:30 PM GMT – (CAD) Retail Sales m/m
- 02:30 PM GMT – (CAD) BOC Business Outlook Survey
- 10:20 PM GMT – (AUD) RBA Assist Gov Kent Speaks
Wednesday, October 23, 2019
- 02:30 PM GMT – (USD) Crude Oil Inventories
Thursday, October 24, 2019
- 07:00 AM GMT – (EUR) Spanish Unemployment Rate
- 07:15 AM GMT – (EUR) French Flash Services PMI
- 07:15 AM GMT – (EUR) French Flash Manufacturing PMI
- 07:30 AM GMT – (EUR) German Flash Manufacturing PMI
- 07:30 AM GMT – (EUR) German Flash Services PMI
- 08:00 AM GMT – (EUR) Flash Manufacturing PMI
- 08:00 AM GMT – (EUR) Flash Services PMI
- 11:45 AM GMT – (EUR) Main Refinancing Rate
- 11:45 AM GMT – (EUR) Monetary Policy Statement
- 12:30 PM GMT – (EUR) ECB Press Conference
- 12:30 PM GMT – (USD) Core Durable Goods Orders m/m
- 12:30 PM GMT – (USD) Durable Goods Orders m/m
- 01:45 PM GMT – (USD) Flash Manufacturing PMI
Friday, October 25, 2019
- 08:00 AM GMT – (EUR) German Ifo Business Climate
- &more…
