Sun, Sep 15, 2019 @ 16:57 GMT
Threat of US-China trade war escalation receded last week after both sides offered some concessions. Further than that, there is increasing hope of de-escalation of some form as the idea of an "interim" trade deal floated around. Both sides...
As suggested in the CFTC Commitments of Traders report in the week ended September 10, NET LENGTH in USD Index added +296 contracts to 32 032. Speculative long positions ell -4 927 contracts and short positions also declined -5...
According to the CFTC Commitments of Traders report for the week ended September 10, NET LENGTH for crude oil futures jumped +44 048 contracts to 428 205 for the week. Speculative long positions soared +18 639 contracts and shorts...
European majors remain generally firm today. In particular, Euro is supported by the view that ECB has done with policy easing after yesterday's stimulus package. Such view is supported by rare open criticism on the measures by ECB officials....
European majors are generally stronger today, after Euro survived yesterday's ECB monetary easing. Meanwhile, Canadian Dollar is broadly pressured following decline in oil prices. New Zealand Dollar is also weak after poor manufacturing data. Dollar is soft despite more...
ECB has announced a new package of stimulus measure as inflation weakens. At the same time, the central bank revised lower both GDP growth and inflation outlooks for coming years. EURUSD initially plunged to as low as 1.0927 before...
Euro drops broadly after ECB finally delivers and announced a package of stimulus. The cut in deposit rate and size of QE are somewhat smaller than expected. But the new economic projections remain decidedly dovish despite the easing package....
Market sentiments were given another strong lift after both US and China offered gestures of good will ahead of next month's trade meeting. Yen extended this week's pullback and remains generally soft in Asian session today. Swiss Franc follows...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks sank -3.14 mmb to 1295.96 mmb in the week ended September 6. Crude oil inventory declined -6.91 mmb to...
China announced that 16 types of US exports will be exempted from tariff. While this may be a gesture ahead of the October trade negotiation, we view this as a sign of further weakness in china’s economic outlook. Trade...
Euro weakens broadly today, in relatively quiet markets, as traders are probably adjusting their positions ahead of tomorrow's ECB rate decision. A new package of stimulus is widely expected. Yet, opinions on the exact composition of the package is...
Market sentiments are generally lifted in Asia, by China's announcement to exempt some US imports from tariffs, ahead of next month's meeting. Also, while symbolic, investors also cheer China's move to remove quota for foreign institutional investors on the...
The financial markets are generally steady today, with stock and bond markets bounded in tight range. Most major currency pairs and crosses are also staying inside yesterday's range. Swiss Franc is currently the firmer one, followed by Sterling is...
Yen weakens broadly today following recovery in major treasury yields, as a sign of stabilization in sentiments. Most notably, German 10-year yield closed above -0.6% at -0.585, while US 10-year yield closed above 1.6% at 1.622. Australian Dollar is...
We expect ECB to deliver a easing package at this week’s meeting. Economic developments since the last meeting have remained steady. However, growth is limited and risk is skewed to the downside. The latest economic projections will show downgrades...
Sterling rises broadly today as recession risk recede after better than expected GDP data. While it's unsure whether growth could sustain, the Pound cheers the improved outlook anyway. At this point, Australian Dollar is second strongest, followed by New...
Markets are generally quiet in a typical Monday. Sterling is trading generally lower. Prime Minister Boris Johnson's push for general election ahead of Brexit deadline will likely be voted down today. But it's reported that he's planning to block...
According to the CFTC Commitments of Traders report for the week ended September 3, NET LENGTH for crude oil futures fell -7 493 contracts to 384 157 for the week. Speculative long positions dropped -4 525 contracts and shorts...
As suggested in the CFTC Commitments of Traders report in the week ended September 3, NET LENGTH in USD Index added +1 839 contracts to 31 336. Speculative long positions rose +6 308 contracts and short positions also added...
Risk aversion eased notably further last week as some of the imminent risks receded. New Italian government was sworn in as 5-Star Movement and bitter rival Democratic Party agreement to form a coalition. UK lawmakers passed a bill to...
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