Monday, February 6, 2023
Forex Broker News
  • Home
  • Forex Broker Reviews
    • All
    • Preferred Brokers
    • Regulated Brokers
    • Unregulated Brokers

    VastWealth Review

    Stockscale Review

    Fibinex.io Review

    Homefx-Plus Review

    StockHome.io Review

    LegacyFX Review

    Crypto Dock Review

    City Index Review

    Forex.com Review

  • Broker Types
  • Forex & Fintech Jobs
  • News
No Result
View All Result
  • Home
  • Forex Broker Reviews
    • All
    • Preferred Brokers
    • Regulated Brokers
    • Unregulated Brokers

    VastWealth Review

    Stockscale Review

    Fibinex.io Review

    Homefx-Plus Review

    StockHome.io Review

    LegacyFX Review

    Crypto Dock Review

    City Index Review

    Forex.com Review

  • Broker Types
  • Forex & Fintech Jobs
  • News
No Result
View All Result
Forex Broker News
No Result
View All Result
Home News Sources saxo all

APAC Global Macro Morning Brief – Happy Macro Fri 25 Oct 2019: Getting ready for an action packed week

Morning APAC Global Macro & Cross-Asset Snapshot

 

(Note that these are solely the views & opinions of KVP, they do not constitute any trade or investment recommendations, nor advice of any kind.)


Happy Macro Fri 25 Oct 2019


APAC Global Macro Morning Brief – Getting ready for an action packed week

 

So Dec 12 is the day that Bojo wants a snap election to be held in the UK (i.e. will not be able to make the Oct 31 deadline). He will need 2/3 of parliament to pass the motion & it looks like there could be an EU extension until the end of Jan 2020.

The saga continues, sterling 1.2851 -0.47% also continues to hold up very well.

 

So it was Flash PMIs Thu o/n & its really a mixed picture across the world. The key takeaway, is there is still not floor in sight to global economic downtown


Australia is hanging by the skin of their teeth on the 50 lvl, south of which would signal contraction. Flash mfg. & Serv. Came in at 50.1 & 50.8, compared to previous figures of 50.3 & 52.5

Japan has now seen ten consecutive months of sub 50 prints in their mfg. PMIs, with the latest missing at 48.5a 49.2e 48.9p.

The Euro-Zone as a block missed: Flash Mfg. PMI 45.7a 46.1e 45.7p, Flash Serv. PMI 51.8e 51.9a 51.6p.

Germany similar to Japan has also had 10 consecutive months of contraction in its mfg. PMI 41.9a 42.0e 41.7p

Its worth noting France bucked the trend in the EZ, with a mfg. PMI that beat, and serv. PMI that was quite strong 52.9a 51.6e 51.1p

The US which is a service focused economy saw its serv. PMIs come in at 51.0 a/e 50.9, yet experienced a decent beat on the mfg. side 51.5a 50.7e 51.1p. ISMs that are due next wk, always garner a lot more focus that the Markit PMIs


–

Cross-Asset View: Grind up continues on the S&P, we are not far from all-time new highs. If that inverse head & shoulder technical formation plays out, that could be +500 points in the making over 6-9m.

Treasuries 1.77% hovering around the same lvls they have been of late 1.70 – 1.80, with that said decent +0.79% pop up in gold to get back above $1500 at $1504… for the bulls a weekly close above here would be key.

Dollar as a whole overnight, was neither here nor there.

 

Econ Data Today:

  • EZ: German Ifo Business Climate

  • US: UoM Consumer Sentiment


Next week will see:

  • Will be all about the Fed, not so much in will they cut – that’s currently sitting at a 90.4% probability of a 25bp cut to 1.75% – yet what indication will they give (if any), on future pace of cuts. Still astounded that folks keep talking about a midcycle adjustment
  • Pivotal as well next wk will be final PMI readings, ISMs out of the US will be critical (last month saw the first month of misses in both ISM readings in a long time) as well Non-Farm Payrolls & Average Hourly earnings. Its worth nothing the key US readings come out on Friday Nov 1, so it will be post the Fed Oct 30 meeting. Only exception here will be the first reading of US 3Q GDP where 1.6% is expected vs. a 2.0% final reading from the 2Q.
  • In addition to the Fed we will have rate decisions out of Canada and Brazil, former is expected to stay put at 1.75% whilst the latter to cut by 50bp to 5.00%. We also have the BoJ on the Thu post the Fed.
  • It will also be a Singapore holiday on Monday – Happy Deepavali Everyone – yet have no fear Macro Monday will still be on!
  • Also watch for daylights savings changes in Europe, as well as another public Monday holiday in New Zealand.

 

Have a brilliant Friday & exceptional wkd up ahead. For those partying it up with the Rugby cup in Japan, enjoy & good luck.

 

Other:

  • To catch this wk’s Macro Monday Click here…  & replay of the call here

     

  • Don’t forget to bookmark & check our Daily SaxoStrats calls from the European morning session c. 09:00 CET
Disclaimer

The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Saxo News & Research and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Saxo News & Research is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. Saxo News & Research does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws.

Please read our disclaimers:
– Notification on Non-Independent Investment Research (https://www.home.saxo/legal/niird/notification)
– Full disclaimer (https://www.home.saxo/legal/disclaimer/saxo-disclaimer)
– Full disclaimer (https://www.home.saxo/en-mena/legal/disclaimer/saxo-disclaimer)

Kay Van-Petersen
Global Macro Strategist
Saxo Bank
Topics: Macro AUD JPY CHF EUR GBP DAX Index

ADVERTISEMENT
Share196Tweet123ShareSend

Related Posts

saxo all

Maximum support for equities but watch those G7 rates

November 4, 2022
saxo all

FX Update: Muted reaction in FX to US-China trade deal

November 4, 2022
saxo all

APAC Global Macro Morning Brief – Happy Macro Thu 5 Dec 2019: Time Decay & 86400…

November 1, 2022
saxo all

Aussie Consumer Sounds the Alarm

October 31, 2022
saxo all

Four FX charts: USD weak but not yet breaking, AUDJPY and NOK.

October 31, 2022
saxo all

Equity Monthly: Is Sweden signaling spillover into services?

October 31, 2022

Select one of the Best Forex Brokers for your Trading  |  Read the Reviews

VastWealth Review

Stockscale Review

Fibinex.io Review

Homefx-Plus Review

StockHome.io Review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money. forexbroker.news is an affiliated partner with various Forex brokers and may be compensated for referred Forex traders.

Risk Disclosure: Forexbroker.news assumes no liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and forex signals. Operations in the international foreign exchange market contain high levels of risk. Forex trading may not be suitable for all investors. speculating only the money you can afford to lose. Forexbroker.news remind you that the data contained in this website is not necessarily real-time and may not be accurate. All stock prices, indexes, futures are indicative and not appropriate for trading. Thus, Forexbroker.news assumes no responsibility for any trading losses you might incur as a result of using this data.You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Disclaimer: It is our organization's primary mission to provide reviews, commentary, and analysis that are unbiased and objective. While ForexBroker.News has some data verified by industry participants, it can vary from time to time. Operating as an online business, this site may be compensated through third party advertisers. Our receipt of such compensation shall not be construed as an endorsement or recommendation by ForexBroker.News, nor shall it bias our reviews, analysis, and opinions.

  • Privacy Policy
  • Contact US
  • Terms of use,

Copyright © 2020 forexbroker.news

No Result
View All Result
  • Home
  • Forex Broker Reviews
  • Broker Types
  • Forex & Fintech Jobs
  • News

© 2020 https://forexbroker.news - Forex Broker news & magazine