January 16, 2018
Europe Market Movements
The Trade Balance figures published yesterday triggered a series of market movements. The EU trade surplus in November widened by €22.5. As a result, the EUR rose against the USD by 0.57%, closing at 1.2264. This morning, the EUR is trading at 1.2267. Today there is no EU data due to be published but German figures could very well have an effect on the EUR. The GBP though will definitely be on the radar this morning with a string of economic numbers out this morning, ranging from the Retail Price Index to the Producer Price Index and Consumer Price Index.
US Market Movements
No significant data out in the US today but in Canada, existing home sales climbed in December. As a result the USD fell against the CAD by 0.26% to 1.2426. This morning the USD has risen to 1.2437. Will the USD recover?
Asia/Oceania Market Movements
The JPY is on the rise, with it currently trading at 110.731. Today’s Japanese Machinery Orders might present more woes for the greenback. Down in Australia, the AUD has seen a slight fall from yesterday’s close, but on the radar is the Westpac Consumer Confidence figures to be released tonight (GMT). Keep an eye on the NZD too which might react to the Commodity Price index half an hour later.
Crude prices are reaching for 2014 highs with Brent at $70 and WTI at $64.48, up 0.3 percent since the last close. It is thought that OPEC compliance with production cuts is the reason for this spike in the commodity price. Gold is also on a bullish trend, jumping to the three month high of 1339.30.
As we enter the second week of the Quarterly Earnings season, look out form the stocks of Citigroup today. Judging from past experience, investors might react to the earnings release.
|09:30 GMT||GBP: Retail Price Index|
|17:00 GMT||CHF: SNB Chairman Jordan Speech|
|23:30 GMT||AUD: Westpac Consumer Confidence|