FX News Today
- The sell-off in stock markets continued during the Asian session after another slide in US shares.
- Signs of fresh tensions in US-Sino relations, the risk of a partial government shutdown in the US and general angst about the health of the world economy, added further pressure in stock markets.
- Topix and Nikkei lost -1.91% and -1.11% respectively as a stronger Yen added to pressure.
- WTI is trading at just $46.21 per barrel.
- EURUSD has settled in the mid 1.1400s.
- Sterling has become directionally dormant following recent Brexit-related volatility, with the UK Parliament now in recess until the new year and London interbank markets thinning out into the Christmas break.
- German consumer confidence unexpectedly held steady at 10.4 in the advance January reading, despite all the negative headlines and the turmoil on markets.
- French GDP was unexpectedly revised down while outlook deteriorates
Charts of the Day
Main Macro Events Today
- UK GDP – The 3rd and final release of Q3 GDP is expected the latter unrevised at 0.6% q/q.
- Canadian Retail Sales and GDP – Retail sales are projected to grow 0.5% in October after the 0.2% rise in September. The ex-autos sales aggregate is projected to gain 0.1% after nudging 0.1% higher. GDP is anticipated to rebound 0.1% in October after the 0.1% drop in September.
- US Personal Spending – November personal income is expected to rise 0.3% after a solid 0.5% pace in October. Consumption is expected to rise 0.3% , half of the 0.6% October gain.
- US Durable Goods and Final GDP – November durable goods orders should rebound 1.7% in November, after a 4.3% October drop. The third reading on Q3 GDP growth is expected unchanged at a 3.5% rate, though slower than Q2’s 4.1% clip.
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