Life as a book or the book of life?
Archives of “May 2019” month
rssKey economic releases for next weeks trading
Key events and releases from May 20 to May 25
Monday
- Fed Chair Powell speaks
Tuesday:
- Australia monetary policy meeting minutes
- UK BOE inflation report hearings in front of Parliament
Wednesday
- NZ retail sales
- UK CPI
- Canada retail sales
- US FOMC meeting minutes
Thursday
- France Flash Mfg and Services PMI
- German Flash Mfg and Services PMI
- EU Flash Mfg and Services PMI
- German IFO Business climate
- Day 1 European Parliamentary Elections
Friday
- UK retail sales
- Day 2 European Parliamentary Elections
- US Durable goods
Key economic releases for next weeks trading
Key events and releases from May 20 to May 25
Monday
- Fed Chair Powell speaks
Tuesday:
- Australia monetary policy meeting minutes
- UK BOE inflation report hearings in front of Parliament
Wednesday
- NZ retail sales
- UK CPI
- Canada retail sales
- US FOMC meeting minutes
Thursday
- France Flash Mfg and Services PMI
- German Flash Mfg and Services PMI
- EU Flash Mfg and Services PMI
- German IFO Business climate
- Day 1 European Parliamentary Elections
Friday
- UK retail sales
- Day 2 European Parliamentary Elections
- US Durable goods
CFTC Commitments of Traders: JPY shorts trimmed by 30K
Weekly Forex futures met noncommercial positioning data for the week ending May 14, 2019
- EUR short 95K vs 106K short last week. Shorts trimmed of my 11 K
- GBP short 3K vs 7K short last week. Shorts trimmed by 4K
- JPY short 62K vs 92K short last week. Shorts trimmed by 30K
- CHF short 40k vs 40k short last week. unchanged
- AUD short 64k vs 57k short last week. Shorts increased by 7K
- NZD short 11K vs 13K short last week. Shorts trimmed by 2K
- CAD short 48K vs 46K short last week. Shorts increased by 2K
- Prior report
Dollar longs were trimmed in the current commitment of traders report with declines in JPY and to a lesser extent EUR leading the way. The JPY short position (USD long position) was trimmed by 30K. The EUR short (dollar long) was trimmed by 11K but remains relatively high at short 95K. The only short increase was in the AUD. The RBA is expected to mull a cut in rates at their next meeting in a few weeks.
US stocks end lower on China concerns
Late day sell off in the major indices
The US stocks are ending lower on a late day China concern swoon. The catalyst was a CNBC report that China/US trade deal was “in flux”. That did not sit well with investors heading into the weekend. Selling took the indices closer to the session lows.
The final numbers are showing:
- S&P index fell -16.9 points or -0.59% at 2859.42. The high for the day reach 2885.48. The low extended to 2854.23
- The NASDAQ index fell -81.76 points or -1.04% at 7816.28. The high for the day reach 7918.71. The low extended to 7810.35
- The Dow fell -102 points or -0.39% at 25761. The high for the day reached 25948.74. The low extended to 25657.78
For the week, the major indices are ending down for the 2nd week in a row:
- S&P index, -0.76%
- NASDAQ index, -1.27%
- Dow Jones industrial average, -0.69%
Thought For A Day
IMF Lagarde: We expect world economic outlook will bounce back at the end of 2019
For what it is worth…
Under the category, “For what it’s worth”, the IMFs Lagarde expects world economic outlook will bounce back at the end of 2019 and in 2020. In addition, Lagarde says trade tensions between the US and China are a downside risk if not resolved.
For what it is worth, the second part will certainly impact the first part.
European stock indices and lower but well off low extremes
European major stock indices end the session lower
The major European stock indices are ending the session lower but well off low extreme levels.
The provisional closes are showing:
- German DAX, -0.5%
- France’s CAC, -0.1%
- Britain’s FTSE, -0.1%
- Spain’s Ibex, -0.2%
- Italy’s FTSE MIB, -0.22%
For the week, the indices are ending with gains:
- German DAX, +1.4%
- France’s CAC, +2.15%
- Britain’s FTSE, +2.0%
- Spain’s Ibex, +1.7%
- Italy’s FTSE MIB, +1.0%
In the 10 year benchmark note sector, yields are ending lower, but off the low levels for the day. The German 10 year is still below 0.0% at -0.103%.
Big-time retail retreat from US #highyield. This week’s $2.57B outflow is largest since Dec. YTD: +$11B
China says no information about Trump-Xi meeting at G20 summit
Comments by China’s foreign ministry
- Says that China has always wanted to resolve trade dispute via talks
Not surprising to see comments like these now after what has transpired over the past one week between the two countries. Both sides will keep their own so don’t hope for any private meet up between the two leaders in Osaka next month.