Global Markets:
- Asian stock markets: Shanghai Composite rose 0.60 %, Hang Seng rallied 0.90 %, ASX 200 gained 0.05 %, Nikkei closed for holiday
- Commodities: Gold at $1318 (+0.60 %), Silver at $19.22 (+1.85 %), WTI Oil at $44.40 (+1.80 %), Brent Oil at $46.50 (+1.60 %)
- Rates: US 10 year yield at 1.69, UK 10 year yield at 0.88, German 10 year yield at 0.00
News & Data:
- New Zealand Westpac Consumer Confidence Index (Q3): 108.0 (prev 106.0)
- New Zealand PSI (Aug): 57.9 (prev rev 54.5)
- UK Rightmove House Price Index (MoM) Sep: 0.7% (prev -1.2%)
- UK Rightmove House Price Index (YoY) Sep: 4.0% (prev 4.1%)
- China House Prices (YoY) Aug: 9.2% (prev 7.9%)
- PBoC Fixes Yuan at 6.6786 (prev 6.6895)
- Oil climbs as Venezuela sees output deal, Libya suffers clashes – RTRS
- Asia stocks rise before central bank meetings, oil bounces – RTRS
CFTC Positioning Data:
- EUR 81K short vs. 93K short last week
- GBP 83K short vs. 90K short last week
- JPY 57K long vs. 54K long last week
- CHF 1.3K long vs. 1.4K long last week
- CAD 17K long vs 21K long last week
- AUD 36K long vs. 39K long last week
- NZD 5.1K long vs. 6.1K long last week
Markets Update:
The US Dollar weakened in Asia, especially against the commodity currencies. AUD/USD opened at 0.7480 in Sydney and rallied to a high of 0.7540 later in the session. Similar price action was seen in NZD/USD, which rose from 0.7255 to 0.7310. The Canadian Dollar benefited from a rally in Oil prices and USD/CAD fell from 1.3220 in the early Asian session to a low of 1.3150.
EUR/USD was quiet as usual and traded in a 1.1150-70 range. GBP/USD bounced slightly after heavy losses on Friday and rose from 1.2995 to 1.3045. USD/JPY volatility was low overnight, as Japanese markets were closed for a public holiday. The pair started the new trading week around 102.20 and spent the session in a 102.00-40 range.
Upcoming Events:
- 09:00 BST – Euro Zone Current Account
- 15:00 BST – US NAHB Housing Market Index
The Week Ahead:
Tuesday, September 20th
- 02:30 BST – Australia House Price Index
- 07:00 BST – Swiss Trade Balance
- 07:00 BST – German PPI
- 13:30 BST – US Building Permits
- 13:30 BST – US Housing Starts
- 17:45 BST – Bank of Canada Governor Poloz speaks
Wednesday, September 21st
- (Tentative) – Bank of Japan Rate Decision
- 00:50 BST – Japan Trade Balance
- 07:30 BST – Bank of Japan Press Conference
- 15:30 BST – US Crude Oil Inventories
- 19:00 BST – Fed Rate Decision
- 19:00 BST – FOMC Statement
- 19:30 BST – Fed Chair Yellen speaks
- 22:00 BST – RBNZ Rate Decision
Thursday, September 22nd
- 01:00 BST – RBA Assistant Governor Lowe speaks
- 14:00 BST – US House Price Index
- 14:00 BST – ECB President Draghi speaks
- 15:00 BST – US Existing Home Sales
- 15:00 BST – US CB Leading Index
Friday, September 23rd
- 03:00 BST – Japan Manufacturing PMI
- 07:45 BST – French GDP
- 08:00 BST – French Manufacturing PMI
- 08:00 BST – French Services PMI
- 08:30 BST – German Manufacturing PMI
- 08:30 BST – German Services PMI
- 09:00 BST – Euro Zone Manufacturing PMI
- 09:00 BST – Euro Zone Services PMI
- 13:30 BST – Canadian CPI
- 13:30 BST – Canadian Retail Sales
- 17:00 BST – FOMC Member Lockhart speaks
- 17:00 BST – FOMC Member Mester speaks
- 20:30 BST – CFTC Positioning Data
