Should be a good one
An election is coming in the Fall and Trudeau's popularity has suffered in the past few weeks because of a scandal around SNC-Lavalin. Expect some stimulus in the budget as he tries to get re-elected.
Wed 20 Feb 2019 20:05:39 GMT
1
Fed's Clarida: I don't think change in Fed policy statements is a U-turn
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Clarida on CNN
Sure, whatever. It's more like a 90-degree turn followed by another one.
More:
ForexLive
No stopping the GBPUSD. Cracks above 200 day MA without much problem
Wed 20 Feb 2019 20:02:20 GMT
2
May says she's seeking 'legally binding changes to the backstop'
2
May press conference comments
So this is what it comes down to: The EU tweaks the political declaration and May brings that back to parliament and hopes for the best. Tough to think she will get it through but the pro-Brexit side might decide this is their best chance.
Wed 20 Feb 2019 19:48:08 GMT
Crude oil settles at $56.92
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Crude oil settles at $56.92
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Up $0.83 or 1.48% on the day
The US crude oil futures have settled the day at $56.92. That was up $0.83 or 1.48%. The high reached $57.55. The low extended down to $55.48.
Wed 20 Feb 2019 19:17:42 GMT
17
May and Juncker say talks were 'constructive' in joint statement
17
May and Juncker met today
Full text:
May will speak shortly.
ForexLive
Wed 20 Feb 2019 19:14:07 GMT
Dollar moves a higher as FOMC minutes trickle out
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Comes off extremes though
It is easier to grab onto a headline when they all come out. With Washington closed due to winter storm, the Fed released the minutes without the press seeiing it ahead and therefore able to put together headlines at the same time. With no sequestering of the press ahead of the release, the headlines are coming out a lot slower. That may be slowing the market as well.
Wed 20 Feb 2019 19:02:47 GMT
7
Fed Minutes note concern about slowing global growth and China
7
Fed minutes released online
Excerpts:
"Market participants pointed to a number of factors as contributing to
the heightened volatility and sustained declines in risk asset prices
and interest rates over recent months including a weaker outlook and
greater uncertainties for foreign economies (particularly for Europe and
China), perceptions of greater policy risks, and the partial shutdown
of the federal government."
Wed 20 Feb 2019 19:01:11 GMT
Trump says negotiating with EU, will do tariffs if there is no deal
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Trump on the EU
The Dept of Commerce is done with its 232 tariffs report but it will take weeks (at the very least) for it to be used.
ForexLive
Wed 20 Feb 2019 18:59:34 GMT
Snapshot of markets ahead of the FOMC minutes
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USD lower. Stocks near unchanged.
Forex: The USD is lower. CAD is strongest. NZD is now the weakest.
Yields show a steeper yield curve.
The stocks are up marginally:
Wed 20 Feb 2019 18:54:13 GMT
3
FOMC Minutes coming up next
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FOMC Minutes coming up next
3
FOMC Minutes due at 2 pm ET
The headlines from the Minutes usually hit the wires en masse at 2 pm but there is a winter storm in Washington and that's led to a cancellation of the media lockup, so the report will simply be published on the Fed's website followed by a free-for-all.
Wed 20 Feb 2019 18:37:15 GMT
1
Caterpillar: China 2019 demand is 'very strong'
1
That's the kind of talk we haven't heard in awhile
Shares of CAT are higher after the comment on China. The company is a major bellwether for China and emerging markets because its heavy equipment is in great demand on construction pickups.
Wed 20 Feb 2019 18:36:23 GMT
USDJPY moves toward 100/200 hour MAs ahead of FOMC minutes
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Stocks come highs and drags the USDJPY lower
The USDJPY moved back toward the close from yesterday (at 110.59) after stocks reversed and a broken trend line stopped holding support (see chart below).
Wed 20 Feb 2019 18:12:53 GMT
1
Wed 20 Feb 2019 18:09:05 GMT
7
Mueller investigation could be completed as soon as next week - report
7
Finally the end?
The nearly two year investigation into Russian meddling in the US election may be wrapping up.
:
CNN reports
Attorney General Bill Barr is preparing to announce as early as next week the completion of Robert Mueller's Russia investigation, with plans for Barr to submit to Congress soon after a summary of Mueller's confidential report, according to people familiar with the plans.
It could take a few weeks for anything to be released. The first step is for Mueller to release a confidential report to the attorney general, which isn't required to be shared with Congress.
Wed 20 Feb 2019 17:55:23 GMT
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EU wants proof that parliament backs a revised deal before it signs off
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Vote and then we sign
The EU is said to want MPs to vote on deal changes before a final Brexit divorce deal summit, according to Bloomberg.
The UK is seeking changes to the Irish backstop but the EU doesn't want to make the changes, then have another deal rejected by parliament. So they're asking for a vote before any final summit and endorsement.
Wed 20 Feb 2019 17:52:28 GMT
10
A glimmer of hope was enough for the GBP bulls
10
What's really changed on Brexit?
Theresa May is in Brussels today in hopes of finding a way to get a Brexit vote through parliament. The latest uptick in the pound came after comments from Spain's foreign minister, who said "I think the accord is being hammered out now."
Wed 20 Feb 2019 17:26:17 GMT
EURUSD cracks to new session highs. Extends the range for the day.
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Looks toward the 50% midpoint
The EURUSD has cracked to new session highs and in the process has extended the range for the day. The high reached 1.13698. The 50% retracement is up at 1.13736. Above the 50% and traders will be eyeing the 100 day MA up at 1.1397 today.
Wed 20 Feb 2019 16:51:48 GMT
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Gold creeps closer to the 2018 highs in fifth day of gains
20
Gold up $3.50 to $1344
Gold continues to break out from the consolidation pattern that kicked off the month. It's up $3.50 to $1344 after hitting a fresh 10-month high of $1364 in Asian trading.
Wed 20 Feb 2019 16:50:58 GMT
Crude oil futures are trading up over $1 and looks to test 100 day MA
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Up 1.91% on the day at it to $57.16
crude oil futures are trading higher in the day. The front contract trades at $57.16 that's up $1.07 or 1.91%. The run higher has the price looking toward the 100 day moving average at $57.31. The price of crude has not treated above is 100 day moving average (blue line) since October 19. Key level.
Wed 20 Feb 2019 16:40:39 GMT
Spain sees 2019 deficit at 2.2%-2.4% without new budget - State Economist
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Comments from Nadia Calvino
I'm starting to get the feeling that a generation now we will look at the current period not as a post-crisis era for Europe, but as a little lull in the middle of two debt and growth crisis'.
Wed 20 Feb 2019 16:35:31 GMT
European shares set to close higher on the day
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Provisional closes to the upside
The provisional closes in Europe are pointing to the upside today. The numbers are showing:
In the 10 year benchmark notes, yields are ending the session mixed. Below are the changes and ranges for the respective countries notes:
Wed 20 Feb 2019 16:22:17 GMT
Four patterns that new FX traders can utilize
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Which technical indicators to watch when you're starting out
For many , foreign exchange
(FX) can seem a bit overwhelming at first glance. Given the complexity of the
data or charts, it is not always clear what the best tools or patterns are to
use in your trading.
Wed 20 Feb 2019 16:08:15 GMT
USDCAD moves below and away from the 50% retracement/132.00 level
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Trades to new session lows
The USDCAD stalled the fall yesterday at the 50% of the move up from the Feburay low at the 1.32036. Being near the natural support level at 1.3200 helped stalll the fall.
Wed 20 Feb 2019 16:02:12 GMT
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EUR/USD: Unlikely to escape 1.12-1.16 range soon - SocGen
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SocGen on the euro
Societe Generale Research discusses EUR/USD outlook and "The
ECB released current account data for December that show European
buying of foreign long-dated debt slowing, and foreign selling of
Euro-denominated long-term debt slowing too. The result is that the net
outflow of long-term cash has slowed a lot, as the ECB has slowed its
own bond purchases.
Wed 20 Feb 2019 15:55:10 GMT
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German foreign min says no one wants a hard Brexit
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Comments from German Foreign Minister Maas
From the UK foreign minister Hunt:
ForexLive
