•  Resurgent USD demand helped the pair to stage a goodish rebound from 3-week lows.   •  Improving risk-sentiment weighs on JPY’s safe-haven status and remained supportive.   •  Market participants now look forward to the US durable goods orders for fresh impetus. The USD/JPY pair built on previous session’s recovery move from three-week lows and continued gaining positive traction for the second straight session on Wednesday.  Resurgent US Dollar demand turned out to be one
On Brexit, Spain said it will vote against the Brexit deal as it looks now, notes the research team at Danske Bank. Key Quotes “Spain cannot block the agreement in itself as it ‘only’ requires a strong qualified majority, i.e. 72% of the 27 member states (i.e. 20 member states) representing 65% of the EU27 population.” “Spain accounts for slightly more than 10% of the EU27 (and represents only one member state). Therefore, it cannot
   •  USD consolidates previous session’s strength and fails to provide a fresh bullish impetus.   •  Recovering oil prices underpin commodity-linked Loonie and add to the modest downtick.   •  Traders now eye today’s US economic docket in order to grab short-term opportunities.  The USD/CAD pair traded with a mild negative bias on Wednesday and eroded a minor part of the previous session’s strong upsurge to 4-1/2 month tops.  A combination of factors helped the pair
With the Fed expected to reach r* and potentially tighten beyond, analysts at TD Securities believe that financial conditions will tighten and realized vol is likely to increase across assets. Key Quotes “While front-end rates have priced in additional hikes, other markets are only just getting the message that real risk-free rates have risen significantly.” “Higher frontend rates should alter cross-asset correlations. It will serve investors well to stay nimble in the year ahead.” “Further
According to analysts at Standard Chartered, several factors are likely to push India’s GDP growth trajectory lower for the rest of FY19 (year ending March 2019). Key Quotes “Q1-FY19 GDP growth of 8.2% was much stronger than expected, boosted by a favourable statistical effect. As the base effect turns adverse – H2-FY18 GDP growth was 7.1%, relative to 5.8% in H1 – a moderation in quarterly headline GDP growth seems inevitable. We forecast Q2-FY19 GDP
Italian Cabinet Undersecretary Giancarlo Giorgetti was on the wires last minutes, via La Repubblica, urging to ban the short-sale on the banking stocks. This comes after the spike in the Italian bond yields a day before triggered a sell-off in the nation’s banking sector stocks. However, the Italian bonds are seen in the green zone so far this Wednesday, cheering the latest comments by the Italian Deputy PM Salvini.
Norway’s unemployment was unchanged in September, Statistics Norway said on Wednesday, citing data from the latest Labor Force Survey. The seasonally adjusted jobless rate was 4 percent in September, which is the average of August-October. The figure was unchanged from July and August. That said, the unemployment rate increased by 0.2 percentage points from June, which is the average of May-July. The number of unemployed, at 113,000, was also unchanged in September from August, but
Oilprice.com reports, citing S&P Global Platts, the Chinese crude oil stockpiles rose by 29.09 million barrels in October from a month earlier, in response to the rising imports and lower refinery activity. This led to a 416.7% jump inter-month. On an annual basis, crude oil supply in October rose 21.3% to 415.96 million barrels, noting that the monthly increase in total supply was a lot more modest than the jump in inventories, at 8.9 percent,
GBP/USD Chart, 5-Minute The Sterling’s chart has become a hot mess over the past two weeks, though rough patches of buying continue to knock steadily lower over time. GBP/USD Chart, 30-Minute The Cable finds itself strung out along the 1.2800 major handle once again, a familiar level as the GBP continues to spiral in medium-term congestion against the Greenback. GBP/USD Chart, 4-Hour GBP/USD Overview:    Last Price: 1.2805    Daily change: 20 pips    Daily change: 0.156%    Daily Open: 1.2785Trends:    Daily SMA20: 1.2907    Daily SMA50: 1.3023    Daily SMA100: 1.3012    Daily SMA200: 1.3364Levels:    Daily High: 1.2884    Daily Low: 1.2776    Weekly High: 1.3074    Weekly
Markets pare losses but sentiment remains weak Another troubling start to the week in financial markets is further denting investor sentiment as we approach the open on Wednesday, with futures currently stable but vulnerable to another tumble. US tech stocks are once again leading the way, plunging on the back of a combination of individual concerns – Apple iPhone sales for example – and general weaker risk appetite. The FAANG stocks extraordinary performance in the