We didn’t have any tier one datas over the weekend beside good building approval from Australia.
Today was another quiet Monday without tier one datas over the London and NY session, however, we will have AUD retail sales and Chinese CPI later on in Asian session.
Equity markets were all red today to signal a risk off sentiment, the oil market also retraced to give us a big red candle day.
The biggest news was the GBP as PM May’s comment has reignited the hard Brexit fears.
Oil market was another big mover with concern over record Iraqi crude exports and rising U.S output.
This week we have the following risk events:
Monday
AUD Retail sales m/m
Max 0.7%
Min 0.2%
Wednesday
GBP Manufacturing Production m/m
Max 1.2%
Min 0.1%
Thursday
Fed Chair Yellen Speaks
Friday
USD Core Retail Sales m/m
Max 0.7%
Min 0.1%
PPI m/m
Max 0.5%
Min 0.1%
Retail Sales m/m
Max 0.9%
Min 0.2%
Core PPI m/m
Max 0.3%
Min 0%
For EUR, no significant news update and the overall fundamental is still negative, however, last week the datas from several European countries have been good and we even had German economist calling ECB to raise interest soon. However, ECB commented that their policy will not be effected by single data. It means the underlying easing agenda is still ongoing.
For GBP, the UK future was once again tested under the fear of uncertainty. It really shows how vulnerable UK is without the Eurozone. No one knows the future for Brexit, but as for now the sentiment seems to be negative as people have no clue of what’s going to happen.
For USD, the Friday job report was another good month, the U.S economy continues to dominate the global market. The sentiment shifts here and there are all good opportunity to buy USD low.
For CAD, regardless of the Friday good job report, the oil market continues to suffer from uncertainty and capability of OPEC members to curb oil output. It’s going to be a roller coaster ride.
For AUD, the underlying fundamental continues to be strong, although the risk of dropping Iron Ore price is here, it’s still a speculation and largely depends on how China performs in 2017.
For NZD, the economy continues to be neutral but sentimentally bullish especially among other nations. The RBNZ still has possibility to ease and the dairy price needs to pick up again to show the strength of NZD.
For JPY, although the surging USD has helped Yen, it is still a relatively low inflation market and needs further stimulus to boost the economy.
For CHF, the SNB continues its easing policy to devaluate CHF.
We didn’t have any tier one datas over the weekend beside good building approval from Australia.
Today was another quiet Monday without tier one datas over the London and NY session, however, we will have AUD retail sales and Chinese CPI later on in Asian session.
Equity markets were all red today to signal a risk off sentiment, the oil market also retraced to give us a big red candle day.
The biggest news was the GBP as PM May’s comment has reignited the hard Brexit fears.
Oil market was another big mover with concern over record Iraqi crude exports and rising U.S output.
This week we have the following risk events:
Monday
AUD Retail sales m/m
Max 0.7%
Min 0.2%
Wednesday
GBP Manufacturing Production m/m
Max 1.2%
Min 0.1%
Thursday
Fed Chair Yellen Speaks
Friday
USD Core Retail Sales m/m
Max 0.7%
Min 0.1%
PPI m/m
Max 0.5%
Min 0.1%
Retail Sales m/m
Max 0.9%
Min 0.2%
Core PPI m/m
Max 0.3%
Min 0%
For EUR, no significant news update and the overall fundamental is still negative, however, last week the datas from several European countries have been good and we even had German economist calling ECB to raise interest soon. However, ECB commented that their policy will not be effected by single data. It means the underlying easing agenda is still ongoing.
For GBP, the UK future was once again tested under the fear of uncertainty. It really shows how vulnerable UK is without the Eurozone. No one knows the future for Brexit, but as for now the sentiment seems to be negative as people have no clue of what’s going to happen.
For USD, the Friday job report was another good month, the U.S economy continues to dominate the global market. The sentiment shifts here and there are all good opportunity to buy USD low.
For CAD, regardless of the Friday good job report, the oil market continues to suffer from uncertainty and capability of OPEC members to curb oil output. It’s going to be a roller coaster ride.
For AUD, the underlying fundamental continues to be strong, although the risk of dropping Iron Ore price is here, it’s still a speculation and largely depends on how China performs in 2017.
For NZD, the economy continues to be neutral but sentimentally bullish especially among other nations. The RBNZ still has possibility to ease and the dairy price needs to pick up again to show the strength of NZD.
For JPY, although the surging USD has helped Yen, it is still a relatively low inflation market and needs further stimulus to boost the economy.
For CHF, the SNB continues its easing policy to devaluate CHF.