Archives of “September 18, 2020” day

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Quadruple witching schedule for September 18

  
  Analysis

But it’s not Halloween?

What is it? Witching hour is the final hour of trading on the 3rd Friday of each month as options and futures on stocks and stock indexes expire.
Sometimes you can see heavy volumes as traders close out options and futures contracts before expiries. So, watch out.
Witching schedule:
  • FTSE100 Sep 20 Futures and Options Expiry: 10:15BST/05:15ET
  • Euro Stoxx Sep 20 Futures and Options Expiry:11:00BST/0600ET
  • DAX  Sep 20 Futures and Options Expiry: 12:00BST/0700ET
  • E-mini S&P  Sep 20 Futures and Options Expiry: 14:30BST/09:30ET
  • DJIA  Sep 20 Futures and Options Expiry: 14:30/09:30ET
First time to be aware of is 10:15 UK time (BST) on the FTSE 100 futures.

OK, so ‘Suganomics’ is now a thing. Analyst says it means lower USD/JPY for longer.

  
Analysis, Economy

New Japanese Prime Minister Yoshihide Suga has inherited Abenomics but its apparently being renmaed out there.

In early comments Suga has stressed deregulation will play a bigger role though. Let’s see how he goes with that ….
Analysis from SMBC Nikki in Tokyo suggest that the initial impact of economic deregulation will be deflationary and so push up the real interest rates in the short term. Thus will be a supportive factor for the yen and keep it under 105.
Huh. It may mean less yen heading offshore from Japan but I can’t see it necessarily prompts inflows to the country. Not buying that ‘stays below 105’ argument sorry.

Coronavirus – UK scientific advisers to government are recommending a second national lockdown

  
  Analysis

The groups advising the UK Prime Minister Boris Johnson and his government recommend another two weeks national lockdown.

In October.
The government’s Scientific Advisory Group for Emergencies (Sage)
  • and the Scientific Pandemic Influenza Group on Modelling (Spi-m)
Via the FT, link (may be gated)
As recently as yesterday UK PM Johnson said again he wanted to avoid national lockdown (limiting restrictions to areas experiencing worsening outbreaks). Sky reports that Lancashire may be next on the block for tighter restrictions.
The groups advising the UK Prime Minister Boris Johnson and his government recommend another two weeks national lockdown.

US Stocks lower but off worst levels at the close

  
Analysis, US Market

Dow snaps 4 day win streak

The major US stock indices closed down on the day, but it could have been worse. Then again in could have been better too.   The major indices are closing near today’s the middle of the days trading ranges.
The Dow industrial average was the relative best performer. In fact at 1 point today it traded positively with a 24.4 point gain. However that was quickly rejected the price rotated back into the negative. The NASDAQ index was the weakest. Both it, and the S&P closed lower for the 2nd straight day.
The final numbers are showing:
  • The S&P index closed down -28.48 points or -0.84% at 3357.01
  • the NASDAQ index closed down -140.19 points or -1.27% at 10910.27
  • the Dow industrial average fell -130.40 points or -0.47% at 27901.98.

Below is a look at the ranges and percentage changes for the major indices in the North America and Europe. All the major indices close negative on the day. The NASDAQ index was the worst performer at -1.27%.

Dow snaps 4 day win streak
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