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This is a discussion on Hotforex.com - Market Analysis and News. within the Analytics and News forums, part of the Trading Forum category; Date : 9th January 2019. MACRO EVENTS & NEWS OF 9th January 2019. FX News Today * USDJPY retested 109.00 ...

          
   
  1. #351
    Senior Member HFblogNews's Avatar
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    Date : 9th January 2019.

    MACRO EVENTS & NEWS OF 9th January 2019.




    FX News Today

    * USDJPY retested 109.00 but has so far left yesterday’s one-week peak at 109.08 untroubled. Yen crosses have remained buoyant amid a backdrop of firm global equity markets.

    * EURJPY and AUDJPY, meanwhile, have posted fresh one-week and 11-day highs, respectively.

    * Topix and Nikkei are both up 1.1%, the Hang Seng rallied 2.4%, the CSI 300 1.68% and the ASX 0.98%.

    * Hopes for a breakthrough in the US-China trade standoff continue to run high. Both sides agreed to extend talks into an unscheduled third day amid reports of progress on the issues of Chinese imports of US goods and increased access to Chinese markets, and Bloomberg cited sources reporting that President Trump, who tweeted that “talks are going very well,” is now eager to strike a deal.

    * The MSCI Asia-Pacific (ex-Japan) Index has gained over 1.5%, reaching a 26-day high. The S&P 500 closed on Wall Street yesterday with a 0.97% gain, and S&P 500 futures are showing a 0.4% advance in overnight trading.

    * After the soothing words from Powell last week markets will get the Fed minutes to digest today, but for now the mood in stocks is perky, with short coverings on the riskier assets underpinning the move higher and Hang Seng and mainland China bourses, which underperformed yesterday, outperformed today.

    Charts of the Day



    Main Macro Events Today

    * Swiss CPI – Swiss inflation is expected to come out slightly lower than last month on a y/y basis, standing at 0.8% in December, compared to 0.9% in November.

    * EU Unemployment Rate – The Euro Area unemployment rate is expected to have been 8.1% in November, the same as in October.

    * BoC Interest Rate Decision – No change is expected in the BoC meeting despite the US rate hike in December, given the not-so-great data releases in December and early January.

    * FOMC Minutes – Fed minutes are expected to shed more light on the policymakers’ mindset, especially regarding their thoughts on the US macroeconomic outlook.

    Support and Resistance



    Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full HotForex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    Click HERE to READ more Market news.

    Dr Nektarios Michail
    Market Analyst
    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

  2. #352
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    Date : 10th January 2019.

    MACRO EVENTS & NEWS OF 10th January 2019.




    FX News Today

    * Dovish leaning Fed speakers and minutes yesterday continue to underpin Treasuries.

    * Bonds got support from reduced risk appetite.

    * FOMC minutes: could afford to be patient, with inflation low;downside risks may have increased, the timing of future rate hikes as less clear.

    * Trade talks between the US and China may have ended on an optimistic note, but traders fear that it could drag on for a long while. Nikkei lost -1.29% – Yen strengthened.

    * Talks in the US to end the partial government shutdown collapsed.

    * USDJPY reversed to 107.80 low from 109.0; EURUSD surged to 1.1559 high

    * Solid session for Canadian stocks, tracking the bullishness around the world.

    * GoC yields moved modestly higher as BoC delivered the as-expected steady rate announcement while reiterating rates will need to go higher “over time.”

    * USDCAD slipped to nearly the 1.3200 level.

    * WTI crude rallied 5% to $52.5 bbl despite mild EIA crude draw, product builds.

    Charts of the Day



    Main Macro Events Today

    * ECB Minutes – Expectations – The ECB’s account is likely to reflect growing unease and while there will have been broad support for the decision to phase out net asset purchases, it is expected that even the hawks were not pushing for further exit steps just yet.

    * US Initial jobless claims – Expectations – Initial jobless claims are estimated to rise 5k to 236k in the week ended January 5, after climbing 10k to 231k in the week of December 29.

    * Canadian Housing data – Expectations – Building permit values are projected to slip 0.5% in November, while the new housing price index is anticipated to decline 0.1% in November after the flat readings the past 3 months.

    * Federal Reserve Chair Jerome Powell speech at 17:00 GMT.

    Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full HotForex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    Click HERE to READ more Market news.

    Andria Pichidi
    Market Analyst
    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

  3. #353
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    Date : 11th January 2019.

    MACRO EVENTS & NEWS OF 11th January 2019.




    FX News Today

    * Fed officials continue to pledge patience after Fed Chair Powell noted the balance sheet will be “substantially smaller”.

    * ECB minutes confirmed decision to end QE was unanimous. On the growth risks, there seems to have been a debate on the impact of weaker confidence indicators, with some mixed views.

    * The Central banks are increasingly wary of downside risks and their cautious messages support both stock and bond markets.

    * US equities stumbled after trade talks ended with few details for all the prior rejoicing, while a handful of year-end stumbles in the retail sector were noteworthy.

    * European stock futures are moving higher, after a largely positive session in Asia overnight.

    * US futures are also clawing back overnight losses with cautious comments from Fed and ECB officials supporting both bond and stock markets.

    * WTI crude is holding gains and trading at USD 52.56 per barrel.

    Charts of the Day



    Main Macro Events Today

    * UK Manufacturing & Industrial Production – Expectations –Industrial output is expected to have recouped 0.2% m/m after dropping 0.6% m/m in October, while the y/y figure should come in at -0.7%. Manufacturing production should rise to 0.3% m/m, after the fall to 0.9% last month due mainly to weakness from transport equipment.

    * US CPI and Core – Expectations – It is widely anticipated that we will see an energy-depressed -0.1% reading for headline CPI in December, but a warmer 0.2% gain for core prices.

    Support and Resistance Levels



    Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full HotForex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    Click HERE to READ more Market news.

    Andria Pichidi
    Market Analyst
    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

  4. #354
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    Date : 15th January 2019.

    MACRO EVENTS & NEWS OF 15th January 2019.




    FX News Today

    * Risk appetite picked up during the Asian session amid further confirmation from Chinese officials that they will implement measures to boost the flagging economy.

    * Equities recovered as China pledges to support growth.
    Brexit: The most important day so far, with Parliament set to reject the government’s deal.

    * GBPUSD whipsawed by Brexit vote news; first backed, then undermined.

    * Yen has outperformed as global stocks tumble on big China trade data miss.

    * EURUSD ebbed to 5-day low at 1.1437, before rebounding to 1.1485.

    * Oil prices stabilised and the front end WTI future is trading at USD 51.23 per barrel.

    Charts of the Day



    Main Macro Events Today

    * US PPI and Core – Expectations – December headline PPI is forecast dipping 0.1%, while the core rises 0.1%.

    * ECB President Draghi Speech – Draghi will probably strike a cautious tone and acknowledge that the balance of risks is starting to shift to the downside.

    * Parliament Brexit Vote- Expectations –There seems be neither an agreement on PM May’s deal, nor on any of the feasible alternatives. And reportedly, EU officials who are not keen on a hard Brexit scenario are open to a 3-month extension to the Brexit schedule. See our Brexit Vote summary.

    Support and Resistance Levels



    Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full HotForex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    Click HERE to READ more Market news.

    Andria Pichidi
    Market Analyst
    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

  5. #355
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    Date : 16th January 2019.

    MACRO EVENTS & NEWS OF 16th January 2019.




    FX News Today

    * Brexit: A crushing defeat of May’s Brexit deal yesterday, brings new uncertainty about the political future in Europe. The odds for delay and/or new referendum are higher.

    * GBP bounced: Cable has advanced to the 1.2889 level, up from just under 1.2700 ahead of the vote.

    * China injected $51.6 bln via reverse repo operations – The biggest daily net cash injection from China’s central bank on record.

    * Japanese markets underperformed and Nikkei was down -0.55%.

    * Yen weaker amid risk-back-on sentiment

    * Oil prices are also up and the front end WTI future is trading at $52.26 per barrel.

    * German Dec HICP inflation confirmed at 1.7% y/y, leaving 2018 HICP at 1.9%

    Charts of the Day



    Main Macro Events Today

    * BoE’s Governor Carney speech – Draghi will probably strike a cautious tone and acknowledge that the balance of risks is starting to shift to the downside.


    * UK Retail Price Index and Inflation – Expectations –The headline CPI is expected to come in unchanged at 1.8% y/y and December Retail Price Index, which we expect to rise by 0.5% after falling in November.


    * UK PPI and Core – Expectations –December headline PPI is forecast dipping 2.1% y/y, while the core is expected unchanged at 0.2%.

    * PM May’s Leadership Challenge – Conservative Party lawmakers will hold voting to express confidence in the PM May Government.

    Support and Resistance Levels



    Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full HotForex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    Click HERE to READ more Market news.

    Andria Pichidi
    Market Analyst
    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

  6. #356
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    Date : 17th January 2019.

    MACRO EVENTS & NEWS OF 17th January 2019.




    FX News Today

    * UK PM May survived no-confidence vote by 325 to 306. GBP stalled below $1.29.

    * EU officials have signalled some willingness for further talks and to an extension of the Brexit deadline.

    * Stock markets have moved down from session highs, as caution still prevails amid the multitude of risks: Earnings season ( even if its good so far) , concerns over US-Sino tensions, slowing world growth, while Brexit developments remain the key focus in Europe.

    * Fed’s Beige Book: expansion still moderate, but all districts reported tight labor.

    * USDJPY scaled to 1-wk high at 109.19; EURUSD has been narrowly orbiting 1.14.

    * WTI future pulled back from a session high of $52.36 and is trading at USD 51.95 per barrel, with record high crude production in the US keeping a lid on prices.

    Charts of the Day



    Main Macro Events Today

    * Eurozone’s Final CPI and Core – Expectations – Overall Eurozone HICP should be stable at 1.6% y/y, unchanged from the preliminary report and down from 1.9% y/y in November.

    * US Philly Fed Manufacturing Index – Expectations – The Philly Fed index is seen rebounding to 10.0 in January, after December’s 3.5 point slide to a 2-year low of 9.4.

    * US Unemployment Claims – Expectations – Initial jobless claims are estimated inching up 1k to 217k in the week ended January

    Support and Resistance Levels



    Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full HotForex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    Click HERE to READ more Market news.

    Andria Pichidi
    Market Analyst
    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

  7. #357
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    Date : 18th January 2019.

    MACRO EVENTS & NEWS OF 18th January 2019.




    FX News Today

    * UK PM May survived no-confidence vote by 325 to 306. GBP stalled below $1.29.

    * Treasury yields jumped and global stock markets rallied on fresh hopes of progress in US-Sino trade talks.

    * WSJ reported that the US is weighing lifting tariffs to hasten a trade deal and calm markets.

    * Topix and Nikkei are up 0.93% and 1.29% respectively. GER30 and UK100 futures also moved higher in tandem with US futures.

    * US Equities also surged on Morgan Stanley earnings miss.

    * USDJPY popped to better than 2-week highs of 109.40. USDCAD fell sharply to 1.3246 from over 1.3300.

    * Swiss Franc down vs most currencies, following dovish remarks by SNB’s Jordan – “too early for a change” as he mentioned.

    * Global trade developments and, in Europe, Brexit developments, remain in focus.

    Charts of the Day



    Main Macro Events Today

    * UK Retail Sales – Expectations – December retail sales are expected to decline by 0.7% (median -0.5%) after rising 1.4% in November.

    * US Industrial Production & Prelim UoM – Expectations – Industrial Production is seen rising another 0.3% in December after a solid 0.6% gain in November. Preliminary January Michigan sentiment should decline to 96.0 after the surprise increase to 98.3 in December.

    * Canadian CPI and core – Expectations – A 0.3% m/m drop in CPI during December is anticipated, after the 0.4% plunge in November, with weaker gasoline prices again projected to fuel the decline. The core CPI measures all ran at 1.9% y/y in November, while inflation should either hold at those rates or tick lower.

    * Fedspeak: NY Fed’s Williams (permanent voter) gives his views on policy and the economy. Philly Fed’s Harker (nonvoter) speaks at a symposium on prosperity.

    Support and Resistance Levels



    Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full HotForex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    Click HERE to READ more Market news.

    Andria Pichidi
    Market Analyst
    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

  8. #358
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    Date : 21st January 2019.

    MACRO EVENTS & NEWS OF 21st January 2019.




    FX News Today

    * Asian stock markets managed to post modest gains, despite the confirmation of the slowdown in Chinese GDP growth to 6.4% y/y, which left the full year rate at 6.6%.

    * Topix and Nikkei are up 0.56% and 0.26% respectively, and the Hang Seng gained 0.27%, while the CSI 300 and Shanghai Comp are both up 0.5%.

    * Hope that trade tensions will eventually be resolved in talks continues to underpin sentiment, with some room for further gains after markets priced in quite extreme risks at the end of last year.

    * Reports from Friday indicate that China is planning to ramp up purchases of US goods although a Bloomberg report suggests that both sides are making little progress on the key issue of intellectual property protection.

    * All of these dampened the move higher in Asia and saw US futures heading south.

    * The front end Nymex future is trading at USD 53.99 per barrel after reaching a session high of USD 54.17.

    * There is a US Bank Holiday today, with emphasis turned to Sterling.

    Charts of the Day



    Support and Resistance Levels



    Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full HotForex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    Click HERE to READ more Market news.

    Dr Nektarios Michail
    Market Analyst
    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

  9. #359
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    Date : 22nd January 2019.

    MACRO EVENTS & NEWS OF 22nd January 2019.




    FX News Today

    * A gloomy IMF outlook: Forecasts for major economies revived recession fears globally and saw risk aversion picking up again.

    * The IMF warned that the Sino-US trade war, a “no-deal” Brexit and a weakening European economy could lead to a sharp global slowdown.

    * Topix and Nikkei lost -0.63% and -0.47% respectively.
    President Trump calling on China to stop “playing around” and do a “real” trade deal -Added to the negative backdrop for markets.

    * The Earnings season is also in full swing and reports from UBS this morning disappointed and only added to lingering risk aversion.

    * USDJPY edged out 2-session low under 109.40; Yen firmer amid risk-off vibe.

    * EURUSD ebbed to 18-day lows below 1.1350, driven by firming in the Dollar.

    * WTI Oil prices back under $54.0 after hitting 7-week high yesterday at $54.39.

    * Global trade developments and, in Europe, Brexit developments, remain in focus.

    Charts of the Day



    Main Macro Events Today

    * UK Average Earnings Index 3m/y – Expectations – Average weekly earnings are expected to remain perky in the three months to November, expected at +3.3% y/y in both the with- and ex-bonus figures.
    UK Unemployment Rate – Expectations – Unemployment is expected to remain unchanged at 4.1%.

    B]*[/B] German ZEW Economic Sentiment– Expectations – Seen falling back to -18.3 from -17.5.

    B]*[/B] Canadian Manufacturing & Wholesale Sales – Expectations – Manufacturing shipment values are expected to drop 1.0% m/m in November after the 0.1% dip in October. Wholesale shipment values are seen falling 0.5% m/m in November after jumping 1.0% in October.

    Support and Resistance Levels



    Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full HotForex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    Click HERE to READ more Market news.

    Andria Pichidi
    Market Analyst
    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

  10. #360
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    Date : 23rd January 2019.

    MACRO EVENTS & NEWS OF 23rd January 2019.




    FX News Today

    * 10-year Treasury yields are down from overnight highs, but still up 0.7 bp at 2.746%, and 10-year JGB yields climbed 0.8 bp to -0.004%.

    * Stock markets remained cautious during the Asian session.

    * The Bank of Japan held policy steady, as expected, while further reducing its outlook for inflation. The resulting weakness in the Yen didn’t help stock markets and Topix and Nikkei dropped -0.60% and -0.14% respectively.

    * The Hang Seng is also down -0.04%, despite mainland China markets initially moving higher as China’s central bank pumped liquidity into the banking system once again. Still, the measures are also a sign that officials are nervous about the slowdown in the economy and CSI 300 and Shanghai Comp are down -0.24% and -0.13%. The bank offered around 258 bln Yuan (USD 38 bln) to banks through its medium term lending tool.

    * Markets continue to question the progress in the US-Sino trade talks, even though White House adviser Lawrence Kudlow said that the trade talks are still on and the story about cancelled preparatory meetings was “not true, there was never any meeting. We are moving toward negotiations.” The negotiations next week will be “very, very important” and “determinative”.

    * Meanwhile, there are the first signs of a possible way out of the US government shutdown.

    * Markets remain easily spooked, but appear to have already priced in a lot of risk last year and US stock futures are moving higher after yesterday’s sell off. Oil prices are trading at USD 53.27 per barrel.

    Charts of the Day



    Main Macro Events Today

    * Canadian Retail Sales – After Wholesale Sales plummeted yesterday, Canadian Retail Sales are expected to have also declined by 0.4% m/m, with core Retail Sales (ex autos) expected to have declined by 0.6%.

    * World Economic Forum at Davos –The second day of the WEF annual meetings held in Davos and attended by officials from over 90 countries. Comments from central bankers and other influential officials can create significant market volatility.

    * Richmond Manufacturing Index – Expectations – The index is expected to have remained at a sub-zero level, standing at -2 after the -8 in the December release.

    Support and Resistance Levels



    Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full HotForex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    Click HERE to READ more Market news.

    Dr Nektarios Michail
    Market Analyst
    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

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