Macro Events & News

FX News Today

  • Asian stock markets had another lacklustre session.
  • In Europe, Bunds got another boost from the much weaker than expected German orders number. Manufacturing orders were down -1.6% m/m.
  • RBA shifted to a neutral stance: RBA Governor Philip Lowe mentioned that the ‘interest rate outlook is now more evenly balanced’.
  • AUD tumbled in tandem with 10-year rates, which dropped -6.3 bp to 2.180%.
  • EURUSD at 12-day lows under 1.1400; GBPUSD drifted back below 1.3000.
  • WTI future is trading at USD 53.66, after falling back from levels over USD 55 yesterday.

Charts of the Day

Main Macro Events Today

  • US Trade Balance – The November trade deficit is expected to narrow to -$54.0 bln from -$55.5 bln.
  • Nonfarm Productivity and Labor Costs – Nonfarm productivity growth is pegged at 2.5% in Q4, following a Q3 trimming to 1.7% from 2.3%, while unit labor costs may rise 1.5%.
  • Canadian Ivey PMI – The January Ivey PMI is expected to improve to a seasonally adjusted 62.0 from 59.7 in December.
  • NZ Employment Change – The ISM-NMI Index is expected to slip further to 57.5 in January from 58.0 in December, versus a 13-year high of 60.8 in September. Services PMI is expected to be unchanged at 54.2 for January.

Support and Resistance

Click here to access the Economic Calendar

Andria Pichidi

Market Analyst

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.