LOOK AHEAD: Wednesday Data Calendar: Retail Sales, PPI, IP/Cap-U, Fed Speak
Jan-18 11:16
Crowded data release schedule for Wednesday includes Fed speakers, Beige Book release, 20Y Bond auction re-open.
- US Data/Speaker Calendar (prior, estimate)
- Jan-18 0700 MBA Mortgage Applications (1.2%, --)
- Jan-18 0830 Retail Sales MoM (-0.6%, -0.9%); Ex Auto MoM (-0.2%, -0.5%)
- Jan-18 0830 Retail Sales Ex Auto and Gas (-0.2%, +0.0%)
- Jan-18 0830 Retail Sales Control Group (-0.2%, -0.3%)
- Jan-18 0830 PPI Final Demand MoM (0.3%, -0.1%); YoY (7.4%, 6.8%)
- Jan-18 0830 PPI Ex Food and Energy MoM (0.4%, 0.1%); YoY (6.2%, 5.6%)
- Jan-18 0830 PPI Ex Food, Energy, Trade MoM (0.3%, 0.2%); YoY (4.9%.4.6%)
- Jan-18 0830 New York Fed Services Business Activity (-17.6, --)
- Jan-18 0900 Atl Fed Bostic open remark
- Jan-18 0915 Industrial Production MoM (-0.2%, -0.1%); Cap-U (79.7%, 79.5%)
- Jan-18 0930 StL Fed Bullard, WSJ live event
- Jan-18 1000 Business Inventories (0.3%, 0.4%)
- Jan-18 1000 NAHB Housing Market Index (31, 31)
- Jan-18 1130 US Tsy $36B 17W Bill Sale
- Jan-18 1300 US Tsy $12B 20Y reopen (912810TMO1)
- Jan-18 1400 Federal Reserve Releases Beige Book
- Jan-18 1400 Philly Fed Harker eco-outlook
- Jan-18 1600 Net Long-term TIC Flows ($67.8B, --); Total Net ($179.9N, --)
- Jan-18 1700 Dallas Fed Logan speaks, moderated Q&A
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OUTLOOK: Price Signal Summary - EURUSD Pullback Considered Corrective
Dec-19 11:06
- In FX, EURUSD traded higher last Thursday, extending recent gains, before pulling back. The break higher last week confirmed a resumption of the uptrend and maintains the price sequence of higher highs and higher lows. The focus is on 1.0736 next, the 2.382 projection of the Sep 28 - Oct 4 - 13 price swing. Initial support lies at 1.0528, the Dec 13 low.
- GBPUSD trend conditions remain bullish, however, last Thursday’s strong sell-off signals a possible short-term top. Attention is on the first key support at 1.2107, the Dec 7 low. Clearance of this level would pave the way for a move towards 1.1901, the Nov 30 low. On the upside, key short-term resistance is at 1.2446, Dec 14 high.
- USDJPY traded higher last Thursday and pierced resistance at 137.97, the Dec 13 high. The pair has also tested resistance at 137.88, the 20-day EMA. A clear break of this average, would signal scope for stronger recovery. This would open 140.00 and 140.19, the 50-day EMA. The bear trigger lies at 133.63, the Dec 2 low.
LOOK AHEAD: Monday/Tuesday Data Calendar: Housing Focus, Tsy Bill Sales
Dec-19 11:02
- US Data/Speaker Calendar (prior, estimate)
- Dec-19 1000 NAHB Housing Market Index (33, 34)
- Dec-19 1130 US Tsy $54B 13W, $45B 26W bill auctions
- Dec-20 0830 Building Permits (1.512M rev, 1.480M); MoM (-3.3% rev, -2.1%)
- Dec-20 0830 Housing Starts (1.425M, 1.400M); MoM (-4.2%, -1.8%)
- Dec-20 0900 Bloomberg Dec. US Economic Survey
BOJ: Seen Keeping Policy Unchanged, With 2023 Review Taking Focus
Dec-19 11:01
- BoJ set to leave all major monetary policy settings, including forward guidance, as they are come the end of its December policy meeting
- Recent comments from BoJ board member Tamura re: the need for a policy framework review at the “right time,” along with several hawkish source reports have sharpened market focus on a move away from current policy settings.
Full MNI Preview including summary of sell-side analyst views here: https://roar-assets-auto.rbl.ms/files/49324/MNI%20...
