Global Markets:
- Asian stock markets: Nikkei down 0.88 %, Shanghai Composite rose 0.72 %, Hang Seng climbed 1.13 %, ASX 200 gained 0.70 %
- Commodities: Gold at $1292.79 (-0.09 %), Silver at $17.13 (+0.40 %), WTI Oil at $48.77 (-0.10 %), Brent Oil at $52.02 (-0.15 %)
- Rates: US 10-year yield at 2.20, UK 10 year yield at 1.06, German 10 year yield at 0.38
News & Data:
- NZD Retail Sales q/q 2.0 % vs 1.5 % previous
- NZD Core Retail Sales q/q 2.1 % vs 1.2 % previous
- CNY Industrial Production y/y 6.4% % vs 7.6 % previous
- JPY Prelim GDP q/q 1.0 % vs 0.3 % previous
- USD CPI m/m 0.1 % vs 0.2% expected
- USD Core CPI m/m 0.1 % vs 0.2 % expected
- U.S. officials say nuclear war with North Korea isn’t imminent – RTRS
CFTC Positioning Data:
- EUR long 94K vs 83K long last week. Longs increased by 11K
- GBP short 25K vs 29K short last week. Shorts trimmed by 4K.
- JPY short 96K vs 112K short last week. Shorts trimmed by 16K
- CHF short 1K vs 1K long last week. 2K new longs
- CAD long 63K vs 41K short. CAD longs increased by 22K.
- AUD long 58k vs 61k last week. Longs trimmed by 3K.
- NZD long 33K vs 35K long last week. Longs trimmed by 2K
Markets Update:
Signs of tension between the USA and the North Korea eased off as Asian stocks bounced on Monday after three continuous losing sessions.
USD/JPY (and yen crosses) traded a little higher on the session; The Yen dropped close to 0.3 Percent trading at fresh session highs of 109.64 per dollar.
EUR/USD: The prevailing tensions failed to generate anything noteworthy last week with an overall gain of mere 48 pips. Opening this week, the Euro has done very little on the session trading at just 0.1 percent higher against the USD at $1.1824.
The Aussie gained few points earlier today despite disappointing Chinese Industrial production data. It was seen trading marginally up at 0.7919 against the USD earlier today. NZD/USD is barely net changed on the session trading close to it’s opening price of 0.7303
GBP/USD is seen trading a tad higher on the day crossing the 1.30000 barrier from it’s opening price of 1.29937. The pound had closed last week with a mere 25 pip loss as weekly sellers struggled to register anything noteworthy to the downside
Upcoming Events:
- 09:00 GMT – (EUR) CPI Industrial Production m/m
The Week Ahead:
Tuesday, August 15th
- French Bank Holiday
- Italian Bank Holiday
- 01:30 GMT – (AUD) Monetary Policy Meeting Minutes
- 06:00 GMT – (EUR) German Prelim GDP q/q
- 07:15 GMT – (CHF) PPI m/m
- 08:30 GMT – (GBP) CPI y/y
- 08:30 GMT – (GBP) PPI Input m/m
- 08:30 GMT – (GBP) RPI y/y
- 12:30 GMT – (USD) Core Retail Sales m/m
- 12:30 GMT – (USD) Retail Sales m/m
- 12:30 GMT – (USD) Empire State Manufacturing Index
- 12:30 GMT – (USD) Import Prices m/m
Wednesday, August 16th
- 01:30 GMT – (AUD) Wage Price Index q/q
- 08:30 GMT – (GBP) Average Earnings Index 3m/y
- 08:30 GMT – (GBP) Claimant Count Change
- 08:30 GMT – (GBP) Unemployment Rate
- 09:00 GMT – (EUR) Flash GDP q/q
- 12:30 GMT – (CAD) Foreign Securities Purchases
- 12:30 GMT – (USD) Housing Starts
- 12:30 GMT – (USD) Building Permits
- 14:30 GMT – (USD) Crude Oil Inventories
- 18:00 GMT – (USD) FOMC Meeting Minutes
- 22:45 GMT – (NZD) PPI Input q/q
Thursday, August 17th
- 01:30 GMT – (AUD) Employment Change
- 01:30 GMT – (AUD) Unemployment rate
- 08:20 GMT – (AUD) RBA Assist Gov Ellis Speaks
- 08:30 GMT – (GBP) Retail Sales m/m
- 09:00 GMT – (EUR) Final CPI y/y
- 11:30 GMT – (EUR) ECB Monetary Policy Meeting Accounts
- 12:30 GMT – (CAD) Manufacturing Sales m/m
- 12:30 GMT – (USD) Unemployment Claims
- 12:30 GMT – (USD) Philly Fed Manufacturing Index
Friday, August 18th
- 12:30 GMT – (CAD) CPI m/m
- 12:30 GMT – (CAD) Core Retail Sales m/m
- 12:30 GMT – (CAD) Common CPI y/y
- 12:30 GMT – (CAD) Retail Sales m/m
- 14:00 GMT – (CAD) Prelim UoM Consumer Sentiment
- 14:15 GMT – (USD) FOMC Member Kaplan Speaks
