Wholesale trade sales -1.0% versus -0.3% expected

Wholesale trade sales -1.0% in November
  • The Canada manufacturing sales for November came in weaker than expected at -1.4% versus -1.0% expected.  
  • Wholesale trade sales also were weaker and -1.0% versus -0.3% expected. 
  • The prior month for wholesale trade sales was revised lower to +0.7% versus 1.0% previously reported. Manufacturing sales fell -0.1% last month (unrevised)
  • The wholesale sales drop was the biggest one-month decline since March 2016
  • the factory sales fall was the largest since January 2018
The data is indicative of a slowdown in the Canadian economy as a result of a slump in the country's oil sector and weaker global growth.  The Bank of Canada indicated less urgency for further interest rate increases at their last meeting. The expect growth to equal 1.3% in the 4th quarter and decline to 1% in the 1st quarter 2019.
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Tue 22 Jan 2019 13:28:28 GMT

1

EURUSD lower and continues to scrape a lower trend line

7+ days below the 100 hour MA The EURUSD is lower on the day and continues to scrape along a lower trendline. That generally comes in at 1.1344. The early European session low stalled at that line.  On Friday, there was a little crack below the line, but that failed.  So there is modest buying against the risk defining line.

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EURUSD lower and continues to scrape a lower trend line


//az705044.vo.msecnd.net/20190122/2019-01-22_6-19-27aa.jpg Greg Michalowski
Tue 22 Jan 2019 13:28:28 GMT
Category: Technical Analysis
1


7+ days below the 100 hour MA The EURUSD is lower on the day and continues to scrape along a lower trendline. That generally comes in at 1.1344. The early European session low stalled at that line.  On Friday, there was a little crack below the line, but that failed.  So there is modest buying against the risk defining line.

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UK November average weekly earnings 3.4% vs +3.3% 3m/y expected
Asset 41
Tue 22 Jan 2019 13:16:49 GMT

What's on tap today?

Some Canadian and US home sales data The US partial government shutdown in now into day 32 and that means the US economic calendar will continue to be void of data.  However, we do have Canada and there are also some US statistics that are eitther from private sources or from agencies of the US that are not furloughed.  

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What's on tap today?


Greg Michalowski
Tue 22 Jan 2019 13:16:49 GMT
Category: News
0
Some Canadian and US home sales data The US partial government shutdown in now into day 32 and that means the US economic calendar will continue to be void of data.  However, we do have Canada and there are also some US statistics that are eitther from private sources or from agencies of the US that are not furloughed.  

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Tue 22 Jan 2019 13:00:28 GMT

The JPY is the strongest. The AUD is the weakest as NA traders enter for the day

The USD is mixed with gains vs risky pairs The JPY is the strongest and the AUD is the weakest as investors worry about global fear.  The USD is mixed with declines vs the AUD, NZD and CAD, declines vs the JPY and near unchanged levels vs the EUR, GBP, and CHF.  Stocks are trading softly today which is helping to lead to the flight out of risky currencies.

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The JPY is the strongest. The AUD is the weakest as NA traders enter for the day


//az705044.vo.msecnd.net/20190122/2019-01-22_5-38-03.jpg Greg Michalowski
Tue 22 Jan 2019 13:00:28 GMT
Category: Technical Analysis
0
The USD is mixed with gains vs risky pairs The JPY is the strongest and the AUD is the weakest as investors worry about global fear.  The USD is mixed with declines vs the AUD, NZD and CAD, declines vs the JPY and near unchanged levels vs the EUR, GBP, and CHF.  Stocks are trading softly today which is helping to lead to the flight out of risky currencies.

Asset 24 View More
Tue 22 Jan 2019 12:50:07 GMT

Europe's slowdown seemingly ignored by the ECB

ECB seemingly oblivious to the slowdown. Germany's growth has stalled, Italy too. France joins them as well with a slowdown coming form Spain. A quick look at the manufacturing purchasing managers index across these countries shows the downward trend since January 2018.

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Europe's slowdown seemingly ignored by the ECB


//az705044.vo.msecnd.net/20190122/screenshot-2019-01-22-at-06.00.52.png Giles Coghlan
Tue 22 Jan 2019 12:50:07 GMT
Category: News
0
ECB seemingly oblivious to the slowdown. Germany's growth has stalled, Italy too. France joins them as well with a slowdown coming form Spain. A quick look at the manufacturing purchasing managers index across these countries shows the downward trend since January 2018.

Asset 24 View More
Tue 22 Jan 2019 12:39:10 GMT

Commodities starting up for 2019 after 11% fall in 2018

Commodities rallying on US China optimism I Oil had a ripping day last Friday (+3.32%) with global demand staying on track, OPEC making cuts and now US drilling rigs fell the most in 3 years according to the the Bloomberg article I read.  See graph below for US rig count fall

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Commodities starting up for 2019 after 11% fall in 2018


//az705044.vo.msecnd.net/20190120/screenshot-2019-01-20-at-16.02.56.png Giles Coghlan
Tue 22 Jan 2019 12:39:10 GMT
Category: News
0
Commodities rallying on US China optimism I Oil had a ripping day last Friday (+3.32%) with global demand staying on track, OPEC making cuts and now US drilling rigs fell the most in 3 years according to the the Bloomberg article I read.  See graph below for US rig count fall

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Tue 22 Jan 2019 12:03:26 GMT

1

Forexlive European FX News 22 Jan: Risk off wobble flows through from Asian session

European FX news 22 January

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Forexlive European FX News 22 Jan: Risk off wobble flows through from Asian session


//az705044.vo.msecnd.net/20190122/screenshot-2019-01-22-at-12.04.05.png Giles Coghlan
Tue 22 Jan 2019 12:03:26 GMT
Category: News
1
European FX news 22 January

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Tue 22 Jan 2019 11:52:29 GMT

3

Infograph on global GDP figures. 

Global GDP contribution at a glance fact that China's global growth was due to slow to 1992 levels. China added nearly a third of the approximately $23 ten added to global GDP in the 10 years up to 2017. 

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Infograph on global GDP figures. 


//az705044.vo.msecnd.net/20190120/screenshot-2019-01-20-at-15.25.24.png Giles Coghlan
Tue 22 Jan 2019 11:52:29 GMT
Category: News
3
Global GDP contribution at a glance fact that China's global growth was due to slow to 1992 levels. China added nearly a third of the approximately $23 ten added to global GDP in the 10 years up to 2017. 

Asset 24 View More
Tue 22 Jan 2019 11:38:08 GMT

2

EU on Polish sunset clause proposal for Brexit

This made sense   This made a lot of sense and I could see some type of sunset clause working (i.e. the agreement is invalid after a certain time, like a sunset going down).

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EU on Polish sunset clause proposal for Brexit


Giles Coghlan
Tue 22 Jan 2019 11:38:08 GMT
Category: News
2
This made sense   This made a lot of sense and I could see some type of sunset clause working (i.e. the agreement is invalid after a certain time, like a sunset going down).

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Tue 22 Jan 2019 11:19:56 GMT

2

Nasdaq futures down as European indices stay suppressed

The domino effect from Huawei  led to a fall in that fed into the . European indices are down in the red now and the US futures looks like following the Asian and European examples

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Nasdaq futures down as European indices stay suppressed


Giles Coghlan
Tue 22 Jan 2019 11:19:56 GMT
Category: News
2
The domino effect from Huawei  led to a fall in that fed into the . European indices are down in the red now and the US futures looks like following the Asian and European examples

Asset 24 View More
Tue 22 Jan 2019 11:04:05 GMT

3

US Shutdown at day 32 as Democrats vow to reject Trump offer

Via Bloomberg Longest Gov't shutdown in US history entered it's 32nd day on Tuesday. Mitch McConnell is expected to call up legislation to advance a proposal from President Donald Trump which Democrats have said they will already reject. 

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US Shutdown at day 32 as Democrats vow to reject Trump offer


//az705044.vo.msecnd.net/20170330/make-america-grow-again.png Giles Coghlan
Tue 22 Jan 2019 11:04:05 GMT
Category: News
3
Via Bloomberg Longest Gov't shutdown in US history entered it's 32nd day on Tuesday. Mitch McConnell is expected to call up legislation to advance a proposal from President Donald Trump which Democrats have said they will already reject. 

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Tue 22 Jan 2019 10:48:36 GMT

Currency snapshot: GBP strongest against the USD after wages data

GBPUSD on a bid  The GBP has overtaken the JPY as being the strongest currency against the USD. It was the excellent November jobs data that sent the GBP on its way. The strong bid into the event was suspicious and a tell to me to watch out for good data. What is significant here is that the GBP is rallying on good data. Typically it has been sold on the good data. AN obvious upside target is the 200 EMA daily highs around the 1.3000 handle

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Currency snapshot: GBP strongest against the USD after wages data


//az705044.vo.msecnd.net/20190122/screenshot-2019-01-22-at-10.29.07.png Giles Coghlan
Tue 22 Jan 2019 10:48:36 GMT
Category: News
0
GBPUSD on a bid  The GBP has overtaken the JPY as being the strongest currency against the USD. It was the excellent November jobs data that sent the GBP on its way. The strong bid into the event was suspicious and a tell to me to watch out for good data. What is significant here is that the GBP is rallying on good data. Typically it has been sold on the good data. AN obvious upside target is the 200 EMA daily highs around the 1.3000 handle

Asset 24 View More

Zew says negative factors  on Brexit, financial markets and weak China growth already expected


Giles Coghlan
Tue 22 Jan 2019 10:23:27 GMT
Category: News
1
ZEW ForexLive

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Tue 22 Jan 2019 10:00:06 GMT

2

Germany January ZEW survey current situation 27.6 vs 43.0 expected

latest data released by ZEW 22 Jan lower across the board - more pressure for Draghi to react to slowing euro confidence and growth. EURUSD at 1.13586 ForexLive

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Germany January ZEW survey current situation 27.6 vs 43.0 expected


//az705044.vo.msecnd.net/20190122/screenshot-2019-01-22-at-10.02.15.png Giles Coghlan
Tue 22 Jan 2019 10:00:06 GMT
Category: News
2
latest data released by ZEW 22 Jan lower across the board - more pressure for Draghi to react to slowing euro confidence and growth. EURUSD at 1.13586 ForexLive

Asset 24 View More
Tue 22 Jan 2019 09:30:11 GMT

51

UK November average weekly earnings 3.4% vs +3.3% 3m/y expected

Office for National Statistics January 22 Highest average weekly earnings at 3.4% since July 2008. Great number. Earnings up in real terms and this bodes well for consumption going forward.

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UK November average weekly earnings 3.4% vs +3.3% 3m/y expected


//az705044.vo.msecnd.net/20190122/screenshot-2019-01-22-at-09.32.46.png Giles Coghlan
Tue 22 Jan 2019 09:30:11 GMT
Category: News
51
Office for National Statistics January 22 Highest average weekly earnings at 3.4% since July 2008. Great number. Earnings up in real terms and this bodes well for consumption going forward.

Asset 24 View More
Tue 22 Jan 2019 09:22:22 GMT

3

GBPUSD turns positive on the day prior to weekly earnings data

GBPUSD approached the 1.2900 handle The bid in the GBP was to be expected going into the event from the 200 EMA on the 1 hour chart, but this is a decent bid here. I expect we may be seeing some good earnings numbers coming up.

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GBPUSD turns positive on the day prior to weekly earnings data


Giles Coghlan
Tue 22 Jan 2019 09:22:22 GMT
Category: News
3
GBPUSD approached the 1.2900 handle The bid in the GBP was to be expected going into the event from the 200 EMA on the 1 hour chart, but this is a decent bid here. I expect we may be seeing some good earnings numbers coming up.

Asset 24 View More
Tue 22 Jan 2019 09:09:08 GMT

Bloomberg article on risk on and risk off article

On and off A quick Bloomberg article for you here on risk on and risk off markets. I noticed a few comments about the nature of these markets , so I dug this up for you. Any comments folks want to add in the comments section below, go ahead and add your assistance.   I will be getting my head down for the Average earnings data coming out soon.

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Bloomberg article on risk on and risk off article


//az705044.vo.msecnd.net/20190122/screenshot-2019-01-22-at-09.08.15.png Giles Coghlan
Tue 22 Jan 2019 09:09:08 GMT
Category: News
0
On and off A quick Bloomberg article for you here on risk on and risk off markets. I noticed a few comments about the nature of these markets , so I dug this up for you. Any comments folks want to add in the comments section below, go ahead and add your assistance.   I will be getting my head down for the Average earnings data coming out soon.

Asset 24 View More
Tue 22 Jan 2019 08:50:26 GMT

China's Tianjin on the wires regarding Tesla batteries

Tesla  Elom Musk is currently on a mission to get electric cars affordable for more folks.  Look! No hands !

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China's Tianjin on the wires regarding Tesla batteries


//az705044.vo.msecnd.net/20190122/screenshot-2019-01-22-at-08.51.48.png Giles Coghlan
Tue 22 Jan 2019 08:50:26 GMT
Category: News
0
Tesla  Elom Musk is currently on a mission to get electric cars affordable for more folks.  Look! No hands !

Asset 24 View More
Tue 22 Jan 2019 08:39:14 GMT

1

One hour until average weekly earnings, GBPUSD held by 200EMA on 1 hour

GBPUSD in focus The average weekly earnings for the UK are out at 0930. They are expected to come in at 3.3%, which is a continued good run in average earnings. The 200EMA should hold into the data on the 1 hour chart.

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One hour until average weekly earnings, GBPUSD held by 200EMA on 1 hour


//az705044.vo.msecnd.net/20190122/screenshot-2019-01-22-at-08.37.39.png Giles Coghlan
Tue 22 Jan 2019 08:39:14 GMT
Category: News
1
GBPUSD in focus The average weekly earnings for the UK are out at 0930. They are expected to come in at 3.3%, which is a continued good run in average earnings. The 200EMA should hold into the data on the 1 hour chart.

Asset 24 View More
Tue 22 Jan 2019 08:21:22 GMT

23

Trade ideas thread - European session 22 January 2019

Daily thread to exchange your ideas Well, my GBPUSD longs are now out at breakeven, I didn't get the follow through I wanted from May's plan B. My EURCAD short swing trade is in play and I added some shorts on the EURCAD retrace we are getting at the moment with the risk off sentiment coming into the markets from the  My EURCAD stops are at at 1.4905 above the pivot point, so you can shed a tear for me if I get stopped out ;-). I will keep folks posted on this trade anyway as it plays out.

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Trade ideas thread - European session 22 January 2019


Giles Coghlan
Tue 22 Jan 2019 08:21:22 GMT
Category: News
23
Daily thread to exchange your ideas Well, my GBPUSD longs are now out at breakeven, I didn't get the follow through I wanted from May's plan B. My EURCAD short swing trade is in play and I added some shorts on the EURCAD retrace we are getting at the moment with the risk off sentiment coming into the markets from the  My EURCAD stops are at at 1.4905 above the pivot point, so you can shed a tear for me if I get stopped out ;-). I will keep folks posted on this trade anyway as it plays out.

Asset 24 View More
Tue 22 Jan 2019 08:05:37 GMT

European Indices open down on risk wobble from Asian session

European Indices down at the open Market feeling risk off. JPY and USD gaining strength. Commodity currencies weakening further. I will be posting the trade ideas next.

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European Indices open down on risk wobble from Asian session


//az705044.vo.msecnd.net/20190122/screenshot-2019-01-22-at-08.04.39.png Giles Coghlan
Tue 22 Jan 2019 08:05:37 GMT
Category: News
0
European Indices down at the open Market feeling risk off. JPY and USD gaining strength. Commodity currencies weakening further. I will be posting the trade ideas next.

Asset 24 View More
Tue 22 Jan 2019 07:51:39 GMT

3

GBPUSD reacting off 100EMA on 1 hour chart ahead of earnings data

GBPUSD in focus The GBPUSD has gently bounced away from the 100 EMA on the 1 hour chart on it's first test. I am bullish on the GBPUSD, but headline risk remains. I went long yesterday, moved to Break even, and I am now flat heading into the earnings data at 0930GMT

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GBPUSD reacting off 100EMA on 1 hour chart ahead of earnings data


//az705044.vo.msecnd.net/20190122/screenshot-2019-01-22-at-07.47.38.png Giles Coghlan
Tue 22 Jan 2019 07:51:39 GMT
Category: News
3
GBPUSD in focus The GBPUSD has gently bounced away from the 100 EMA on the 1 hour chart on it's first test. I am bullish on the GBPUSD, but headline risk remains. I went long yesterday, moved to Break even, and I am now flat heading into the earnings data at 0930GMT

Asset 24 View More
Tue 22 Jan 2019 07:32:50 GMT

1

China foreign ministry asked about retaliation for Huawei executive Meng

Huawei issue caused risk wobble in Asian session Here is the link to the Huawei issue affecting markets at the moment. Ok, not the best of situations here clearly. This taps into the very heart of the US and China trade dispute - intellectual property. The battle lines are drawn once again. The headline again from earlier, brought to us by Eamonn in typical timely manner.

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China foreign ministry asked about retaliation for Huawei executive Meng


Giles Coghlan
Tue 22 Jan 2019 07:32:50 GMT
Category: News
1
Huawei issue caused risk wobble in Asian session Here is the link to the Huawei issue affecting markets at the moment. Ok, not the best of situations here clearly. This taps into the very heart of the US and China trade dispute - intellectual property. The battle lines are drawn once again. The headline again from earlier, brought to us by Eamonn in typical timely manner.

Asset 24 View More

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