Fri 18 Oct 2019 08:46:02 GMT
Japanese government downgrades economic assessment for the month of October
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That represents the first downgrade since May earlier this year
Additionally, the government revised lower its view of production and corporate sentiment as they see weakness in output and continued cautiousness among manufacturers.
Trade ideas thread - European session 16 October 2019
Fri 18 Oct 2019 08:39:33 GMT
Cable back above 1.29 as pound pares earlier losses
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Cable moves to a session high of 1.2916
ForexLive
There isn't any notable headlines on the Brexit front but it is all about positioning and parliamentary arithmetics now ahead of the crunch vote tomorrow.
Fri 18 Oct 2019 08:33:25 GMT
Betting firm that called May votes sees Johnson beaten in tomorrow's showdown
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The betting firm says that Johnson is set to lose by seven votes tomorrow
The firm said that:
"The most likely sticking point could be the support of the DUP, with early signs suggesting that Arlene Foster and co. could still scupper the deal passing through parliament."
Here is the firm's track record for the three votes faced by Theresa May on her Brexit deal during her tenure as prime minister:
Fri 18 Oct 2019 08:15:26 GMT
UK parliament Treasury committee calls for confirmation/update to Brexit economic analysis
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The committee is asking finance minister Sajid Javid for an update before the vote in parliament tomorrow
If anything else, it just goes to show how little informed most lawmakers are about Johnson's gambit as we go to a vote tomorrow.
Fri 18 Oct 2019 08:03:58 GMT
Eurozone August current account balance €27.0 billion vs €20.5 billion prior
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Latest data released by the ECB - 18 October 2019
- €20.5 billion; revised to €22.0 billion
ForexLive
Surpluses were recorded for goods, primary income and services and were partly offset by a deficit for secondary income for the month of August.
Fri 18 Oct 2019 07:49:02 GMT
AUD/USD holds at one-month highs as buyers keep calm on the day so far
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AUD/USD trades at its highest levels since 18 September
ForexLive
The pair broke higher in trading yesterday as buyers managed to secure a firm break above the 0.6800 handle but so far the momentum is slowing down a little despite having moved above key near-term resistance around 0.6800-10.
Fri 18 Oct 2019 07:36:08 GMT
China says never posed requirement to fire Houston Rockets GM Daryl Morey
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Comments by the Chinese foreign ministry
I think it is quite interesting that China is labeling such a remark as being a "requirement" and that it is the foreign ministry that is responding to the matter. It goes to show how differently both sides are viewing the current dispute.
Fri 18 Oct 2019 07:21:49 GMT
DUP's Donaldson says will oppose Brexit deal as things stand
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Comments by DUP lawmaker, Jeffrey Donaldson
Cable steady at 1.2875 currently as the headline here isn't anything new.
ForexLive
Fri 18 Oct 2019 07:08:21 GMT
Cable slightly weaker on the day but buyers still stay in near-term control
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The pound continues to bend but not break for now
ForexLive
The pound is holding lower on the day but is off lows seen at the start of the session as cable sits near 1.2875 currently after a low of 1.2840 earlier.
Fri 18 Oct 2019 06:41:44 GMT
BOJ's Amamiya: Japanese economy is expanding moderately
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Comments by BOJ deputy governor, Masayoshi Amamiya
- Closer attention needs to be paid on risks to price momentum
- BOJ will appropriately guide policy while monitoring various risks
ForexLive
Fri 18 Oct 2019 06:37:33 GMT
Labour's McDonnell: The numbers are going to be 'pretty close' on Brexit deal vote
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Says whipping decision is up to the chief whip
ForexLive
Just one to take note in case we do see a whip as Johnson does need all the support he can get - even from Labour lawmakers - at this stage.
Fri 18 Oct 2019 06:27:58 GMT
DUP leader Foster reaffirms that they will oppose Johnson's Brexit deal
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Arlene Foster comments via the Belfast Telegraph
ForexLive
Fri 18 Oct 2019 06:20:02 GMT
DUP's Wilson says will encourage Tory lawmakers to oppose Johnson's deal
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Comments by DUP lawmaker, Sammy Wilson
ForexLive
Fri 18 Oct 2019 06:11:40 GMT
Eurostoxx futures -0.5% in early European trading
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Asian stocks pass the red baton over to Europe in early trades
- German DAX futures -0.5%
- French CAC 40 futures -0.3%
- UK FTSE futures -0.5%
ForexLive
In particular, Chinese stocks are weaker after a softer-than-expected Q3 GDP report earlier and that is also weighing a little on European futures to start the session.
Fri 18 Oct 2019 06:11:30 GMT
Nikkei 225 closes higher by 0.18% at 22,492.68
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Mixed mood in Asian stocks to wrap up the week
The Hang Seng is down by 0.5% while the Shanghai Composite is down by 1.3% as we look towards the closing stages of the day in Asia.
Fri 18 Oct 2019 06:05:03 GMT
Strong employment data reduces chance of RBA November rate cut
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RBA
Eamonn reported at the time that shortly after the print Westpac (who see the next RBA rate cut in Feb 2020) saw this positive print as giving the RBA more time to keep rates on hold:
Fri 18 Oct 2019 06:01:35 GMT
BOE's Ramsden: Smooth Brexit would put rate hikes on the table
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Comments by BOE deputy governor, Dave Ramsden
- BOE to watch currency markets on Sunday after Brexit vote
- Pound swings are making things complex
- Says that 'limited and gradual' is a reasonable framing of rate hike stance
ForexLive
Fri 18 Oct 2019 05:59:45 GMT
UK's Letwin: Thinks about 17-18 former Tory rebels will back Johnson's deal
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Comments by UK lawmaker, Oliver Letwin
the equation
ForexLive
Fri 18 Oct 2019 05:40:33 GMT
Trade ideas thread - European session 18 October 2019
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Daily thread to exchange ideas and to share your thoughts
It's been a bit of a slower start to the day but just be mindful that markets may get a little bit edgy and jumpy later on as traders will be keeping their focus on the Brexit meaningful vote in the UK parliament tomorrow.
Fri 18 Oct 2019 05:33:42 GMT
European pre-market: Pound softer as crunch vote in UK parliament eyed
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It is all about the Brexit meaningful vote tomorrow for the pound
ForexLive
The pound is softer to start the day as traders are bracing themselves for a crunch vote in Westminster tomorrow - yes, on a Saturday!
Fri 18 Oct 2019 05:18:59 GMT
Brexit by the numbers: Does Boris Johnson have what it takes in a parliamentary vote?
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Let's do some number crunching on the matter
You can argue that he sold out the DUP in this deal but it is all a calculated gambit as he tries to work a different angle in order to get a Brexit deal passed in parliament.
Fri 18 Oct 2019 04:37:08 GMT
Aramco says that timing of IPO will depend on market conditions
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I feel like I have been reading this same headline for years now
Aramco has delayed its planned IPO launch
If and when this ever does happen, it will be the world's largest stock market listing.
Fri 18 Oct 2019 04:08:31 GMT
Fed chair Powell and PBOC governor Yi met up for a meeting yesterday
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Both central bank heads met up in Washington yesterday
Adding that both parties exchanged views on the economic and financial situations of the US and China as well as monetary policy. No further details were given.
Fri 18 Oct 2019 04:04:24 GMT
Economic data coming up in the European session
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A light one on the data docket to wrap up the week
Looking ahead, it will be a light one in terms of economic releases but all eyes will now be on Westminster ahead of tomorrow's crunch Brexit vote in parliament.
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