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Updated: 1 week 5 days ago
Westpac / Melbourne Institute consumer sentiment to 101.5
more to come
An item via Reuters on continuing plans for a no deal Brexit between the UK and EU
Its dubbed the "Brexit Readiness Programme"
- aimed at ensuring the supply chain in the event of a UK "no deal" exit from the European Union
Society of Motor Manufacturers and Traders (SMMT) cite
The October survey date for Westpac / Melbourne Institute consumer sentiment
Last month's result:
- down 3.0% to a value of 100.5 (above 100 is net optimism, but as you see its barely there)
was the weakest since November of 2017.
Reuters with the headline from an ITV report
UK Chief negotiatior Olly Robbins has made meaningful progress in talks with EU's Barnier on the Irish backstop says ITV
A snippet from an overnight Morgan Stanley forex note, the firm is looking for risk off
The 1987 playbook:
In many aspects, the current constellation reminds us of what happened in autumn 1987.
Electronic card spending accounts for around 68% of core retail sales in New Zealand, hence the interest
Retail up 1.1% m/m
- expected 0.6% m/m, prior 1.0%
- For the y/y, up 5.7%
Total up 1.3% m/m
Italian fin min to address parliament Wednesday morning local time 10am, which is 0800GMT
Here is a heads up of the address
From Westpac's morning note on the Australian dollar, forecasts etc
AU-US have continued to grind steadily in the US
dollar's favour in recent weeks, but the 10 year spread widening in
early October was eye-catching, from around -32bp to -50bp. This of fresh AUD/USD lows since Feb 2016, near 0.70.
Growing concern over
Speculation that the US will officially name China has ebbed and flowed for, oh, about 30 years or so.
Next week we get the twice-yearly report from the US Treasury that may (or, if the trend really is your friend, may not) name China as a currency manipulator.
Forex news for NY trading on October 9, 2018
In other markets as the trading day comes to a close:
- Spot gold is up $1.60 or 0.13% at $1189.77
- WTI crude oil is up $0.42 or 0.57% at $74.72. Hurricane Michael has shut down some Gulf of Mexico drilling rigs. Iran supply is also a concern
An update from the US' National Hrricane Center on Hurricane Michael
- Says Michael strengthens to a major hurricane, life-threatening storm surge, hurricane force winds, and heavy rainfall expected along the north-eastern gulf coast
Take care out there folks if you are affected areas.
Good morning, afternoon and evening all. Any charts, technical
analysis, trade ideas, thoughts, views, ForexLive traders would like
to share and discuss with fellow ForexLive traders, please do so:
With JGB yields
climbing there are expectations for increased JGB buying from the
So far that hasn't
eventuated but there is a scheduled operation today due at 0110GMT so
eyes on that. Yen impact will likely be (this is a technical term)
S&P down for the 4th day in a row. Nasdaq ekes out a small gain. Dow down.
The major US stock indices are ending the session mostly lower.
Major indices are mixed today.
The major indices are mixed in an up and down trading today. The Nasdaq is up small, the S&P and Dow are down small.
Financials are lower mainly with the losses outpacing the indices.
Reverses course after US Columbus Day holiday
Up $0;67 or 0.90% on the day
The price of WTI crude oil futures are settling the day at $74.96, up $0.67 or 0.9% on the day.
The price action was up and down as producers in the Gulf of Mexico shut down some of their production. Also, Iran's crude exports fell ahead of the US sanctions
Sellers lean on the first test
The EURUSD has grinded up to the 100 hour MA at the 1.1495 level. The high reached 1.14938 - just short of that MA level. Sellers (profit takers/new sellers?) leaned against the level. Risk could be defined and limited against the level. Move above and there should be more buying.
Unveils a new $900M investment in the coffee shop
Bill Ackman's Pershing Square hedge fund has taken a new position of $900M in Starbucks. The shares are up 2.69% at $58.07. The low for the year reached $47.37 on June 28th.
Looks toward test of 100 hour MA
The price of USDCAD has reversed it's earlier gains and is now trading to new session lows. The price at the high today stalled ahead of the high from yesterday. The price fell below a lower trend line, the low for the day at 1.29468, and is tracking toward