Global Markets:
- Asian stock markets: Nikkei up 1.39 %, Shanghai Composite rose 0.13 %, Hang Seng gained 0.97 %, ASX 200 rose 0.77 %
- Commodities: Gold at $1342.02 (-0.68 %), Silver at $17.93 (-1.03 %), WTI Oil at $47.87 (+0.82 %), Brent Oil at $54.03 (+0.46 %)
- Rates: US 10-year yield at 2.08, UK 10-year yield at 0.990, German 10-year yield at 0.309
News & Data:
- (JPY) Tertiary Industry Activity m/m 0.1 % vs 0.1 % expected
- (CNY) CPI y/y 1.8 % vs 1.7 % expected
- (CNY) PPI y/y 6.3 % vs 5.7 % expected
- (GBP) Manufacturing Production m/m 0.5 % vs 0.3 % expected
- (GBP) Goods Trade Balance -11.6 B vs -11.9 B expected
- (CAD) Employment Change 22.2 K vs 17.8 K expected
- (CAD) Unemployment Rate 6.2 % vs 6.3 % expected
- Oil edges up as Saudis discuss extending supply cut- RTRS
CFTC Positioning Data:
- EUR long 96K vs 87K long last week. Longs increased by 9K
- GBP short 54K vs 52K short last week. Shorts increased 2K
- JPY short 73K vs 69K short last week. Shorts increased by 4K
- CHF short 2K vs 2K short last week. Unchanged from prior week.
- CAD long 54K vs 53K long. Longs increased by 1K.
- AUD long 65k vs 67k last week. Longs trimmed by 2K
- NZD long 15K vs 19K long last week. Longs trimmed by 4K
Markets Update:
Asian equity markets rose on Monday as investors piled into risk assets as hurricane Irma’s force waned and the United Nations prepared to vote on tougher North Korean sanctions. Markets also digested headlines concerning developments out of the People’s Bank of China and European Central Bank announced at the weekend.
USDJPY opened up around 50 pips early on Monday. The pair did not fill the gap after finding buyers around 108.15 and is currently seen trading around 108.40 as the Yen lost 0.5 percent against the US Dollar. Similar to the USDJPY all Yen crosses opened higher in very early trade. There had been heightened concerns over a North Korean missile test on the weekend, a test which did not eventuate resulting in a lower Yen
EURUSD is currently seen trading around 1.2010 as the EUR slipped a little losing 0.2 percent against the US Dollar. The Euro had hit a top of $1.2092 on Friday amid speculation the European Central Bank was closer to starting a wind-back of its stimulus program. The dollar index, which tracks the dollar against a basket of currencies rose 0.2 percent and is currently valued at 91.53
AUDUSD is currently seen Trading at 0.8046 as the Australian Dollar lost 0.2 percent against the USD. From a technical perspective, the 0.8100 handle suffered multiple attacks in early trading, but managed to hold ground and eventually push lower. Similar to the Aussie, the New Zealand Dollar has net lost some ground against the USD after having small ranges and is currently seen trading at 0.72443
Upcoming Events:
- 06:00 GMT – (JPY) Prelim Machine Tool Orders y/y
- 07:00 GMT – (EUR) ECB’s Coeure Speaks
- 08:00 GMT – (EUR) Italian Industrial Production m/m
- 12:15 GMT – (CAD) Housing Starts
- 13:00 GMT – (RUB) GDP y/y
The Week Ahead:
Tuesday, September 12th
- 01:30 GMT – (AUD) NAB Business Confidence
- 08:30 GMT – (GBP) CPI y/y
- 08:30 GMT – (GBP) PPI Input m/m
- 08:30 GMT – (GBP) RPI y/y
- 14:00 GMT – (USD) JOLTS Job Openings
Wednesday, September 13th
- 07:15 GMT – (CHF) PPI m/m
- 08:30 GMT – (GBP) Average Earnings Index 3m/y
- 08:30 GMT – (GBP) Claimant Count Change
- 08:30 GMT – (GBP) Unemployment Rate
- 12:30 GMT – (USD) PPI m/m
- 12:30 GMT – (USD) Core PPI m/m
- 12:30 GMT – (USD) Crude Oil Inventories
- 14:00 GMT – (AUD) RBA Assist Gov Debelle Speaks
Thursday, September 14th
- 01:30 GMT – (AUD) Employment Change
- 01:30 GMT – (AUD) Unemployment Rate
- 02:00 GMT – (CNY) Industrial Production y/y
- 02:00 GMT – (CNY) Fixed Asset Investment ytd/y
- 07:30 GMT – (CHF) Libor Rate
- 07:30 GMT – (CHF) SNB Monetary Policy Assessment
- 11:00GMT – (GBP) MPC Official Bank Rate Votes
- 11:00GMT – (GBP) Monetary Policy Summary
- 11:00GMT – (GBP) Official Bank Rate
- 12:30 GMT – (USD) CPI m/m
- 12:30 GMT – (USD) Core CPI m/m
- 12:30 GMT – (USD) Unemployment Claims
- 15:30 GMT – (EUR) German Buba President Weidmann Speaks
- 22:30 GMT – (NZD) Business NZ Manufacturing Index
Friday, September 15th
- 08:50 GMT – (GBP) MPC Member Vlieghe Speaks
- 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
- 13:15 GMT – (USD) Capacity Utilization Rate
- 13:15 GMT – (USD) Industrial Production m/m
- 14:00 GMT – (USD) Prelim UoM Consumer Sentiment
