Global Markets:

  • Asian stock markets: Nikkei up 0.52 %, Shanghai Composite rose 0.25 %, Hang Seng gained 0.99 %, ASX 200 rose 0.5 %
  • Commodities: Gold at $1321.49 (-0.28 %), Silver at $17.63 (-0.35 %), WTI Oil at $50.46 (+0.04 %), Brent Oil at $55.70 (+0.14 %)
  • Rates: US 10-year yield at 2.20, UK 10-year yield at 1.30, German 10-year yield at 0.43

News & Data:

  • (AUD) New Motor Vehicle Sales m/m 0.0 % vs -2.4 % previous
  • (USD) Core Retail Sales m/m 0.2 % vs 0.5 % expected
  • (USD) Retail Sales m/m -0.2 % vs 0.1 % expected
  • (USD) Empire State Manufacturing Index 24.4 vs 18.2 expected
  • (USD) Capacity Utilization Rate 76.1 % vs 76.8 % expected
  • (USD) Industrial Production m/m -0.9 % vs 0.1 % expected
  • (USD) Prelim UoM Consumer Sentiment 95.3 vs 95.1 expected
  • Oil markets firm on rising refinery demand, falling U.S. rig count- RTRS
  • Dollar edges up vs yen, hovers near seven-week high ahead of Fed- RTRS

CFTC Positioning Data:

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  • EUR long 86K vs 96K long last week.
  • GBP short 46K vs 54K short last week.
  • JPY short 57K vs 73K short last week.
  • CHF short 2K vs 2K short last week.
  • CAD long 50K vs 54K long.
  • AUD long 63k vs 65k last week.
  • NZD long 12K vs 15K long last week.

Markets Update:

Asia-Pacific equity markets were higher on Monday following a record-breaking Wall street session and Australia’s benchmark index rebounding from three straight sessions of declines as investors piled into risk assets amid optimism that the U.S. favors a peaceful resolution to North Korea’s nuclear threats and no new provocation by North Korea over the weekend.

USDJPY opened up around 40 pips early on Monday and has since stabilized around 111.20 currently. Overall, the Japanese Yen continues to lose value as it lost 0.3 percent against the US Dollar, extending Friday’s 0.5 percent drop. Bank of Japan is widely expected to maintain its massive asset buying campaign at a meeting on Thursday.

EURUSD is little changed from its late levels on Friday and is currently seen trading around 1.1934. The Euro had hit a 2-1/2-year high reaching $1.2092 earlier this month. The dollar index, which tracks the dollar against a basket of currencies was flat and is currently valued at 91.87 after losing 0.3 percent on Friday.

AUDUSD is currently seen Trading at 0.8024 as the Australian Dollar put up a strong show outperforming on the session rising 0.3 percent against the US Dollar. Australia’s main index added 0.5 percent rebounding from three straight sessions of declines. Similarly, the New Zealand dollar is seen trading at 0.7320 after the Kiwi added 0.3 percent against the USD.

Upcoming Events:

  • All Day – JPY Bank Holiday
  • 08:00 GMT – (EUR) Italian Trade Balance
  • 09:00 GMT – (EUR) Final CPI y/y
  • 09:00 GMT – (EUR) Final Core CPI y/y
  • 10:00 GMT – (EUR) German Buba Monthly Report
  • 12:30 GMT – (CAD) Foreign Securities Purchases
  • 14:30 GMT – (GBP) ECB’s Lautenschlaeger Speaks
  • 20:00 GMT – (USD) TIC Long-Term Purchases

The Week Ahead:

Tuesday, September 19th

  • 01:30 GMT – (AUD) Monetary Policy Meeting Minutes
  • 01:30 GMT – (AUD) HPI q/q
  • 09:00 GMT – (EUR) German ZEW Economic Sentiment
  • 12:30 GMT – (CAD) Manufacturing Sales m/m
  • 12:30 GMT – (USD) Building Permits
  • 12:30 GMT – (USD) Current Account
  • 12:30 GMT – (USD) Housing Starts
  • 12:30 GMT – (USD) Import Prices m/m
  • 22:45 GMT – (NZD) Current Account

Wednesday, September 20th

  • 08:30 GMT – (GBP) Retail Sales m/m
  • 14:00 GMT – (USD) Existing Home Sales
  • 14:30 GMT – (USD) Crude Oil Inventories
  • 18:00 GMT – (USD) FOMC Economic Projections
  • 18:00 GMT – (USD) FOMC Statement
  • 18:00 GMT – (USD) Federal Funds Rate
  • 18:30 GMT – (USD) FOMC Press Conference
  • 22:45 GMT – (NZD) GDP q/q

Thursday, September 21st

  • Tentative – (JPY) Monetary Policy statement
  • Tentative – (JPY) BOJ Policy Rate
  • Tentative – (JPY) BOJ Press Conference
  • 08:30 GMT – (GBP) Public Sector Net Borrowing
  • 12:30 GMT – (CAD) Wholesale Sales m/m
  • 12:30 GMT – (USD) Unemployment Claims
  • 12:30 GMT – (USD) Philly Fed Manufacturing Index

Friday, September 22nd

  • All Day – (NZD) Parliamentary Elections
  • 07:00 GMT – (EUR) French Flash Manufacturing PMI
  • 07:00 GMT – (EUR) French Flash Services PMI
  • 07:30 GMT – (EUR) German Flash Manufacturing PMI
  • 07:30 GMT – (EUR) German Flash Services PMI
  • 08:00 GMT – (EUR) Flash Manufacturing PMI
  • 08:00 GMT – (EUR) Flash Services PMI
  • 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) Median CPI y/y
  • 12:30 GMT – (CAD) Retail Sales m/m
  • 12:30 GMT – (CAD) Trimmed CPI y/y

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