In a research note by analysts including Jordan Rochester The firm suggests adding to short Swiss franc positions even as EUR/CHF strengthens to the highest levels since the SNB removed the floor in the pair.
UK February trade balance data now out 11 April – GBP -12.228 bln prev from -12.325bln – trade balance non-EU GBP -2.237bln vs -4.037bln prev from -3.868bln A better report overall but soggy production data sees GBP wobble a little but gathering some poise again as I type. EURGBP holding 0.8700 again though and…
Latest data released by ONS – 11 April 2018 Pretty much a miss on expectations on all fronts, and softer revisions to prior data for manufacturing and industrial output. The revisions sort of distorts the trend for the data, as they are quite sizable revisions to the downside.
IMF chief Christine Lagarde speaks to Bloomberg TV now Lagarde striking a similar message to her comments earlier in the day. Nothing too new here. But I think she could’ve just said “trade continues to work, though not perfect for “.
IMF head Christine Lagarde comments on the HKD Earlier in the day, USD/HKD hit fresh 33-year highs of 7.8498 and inched ever so close to the upper limit of its trading band – at 7.8500.
Latest data released by the Bank of France – 11 April 2018 Still at elevated levels, but we’re starting to see a turnaround in sentiment following the peak reading in December. That goes in tandem with the peak Eurozone data performance as well.
IMF chief Christine Lagarde in a Q&A session following her speech in Hong Kong Lagarde once again chipping in on the trade rhetoric between US and China. Despite the risks associated with that, she mentioned earlier that the IMF’s global growth forecast that is to be released next week will “continue to reflect optimism”.
Saudi Arabia’s oil minister Khalid Al-Falih still on the wires While there may not be a set target price, I’m very sure he would not want to see oil prices slip back to the $40 levels again.
China and Japan will be hosting an economic dialogue It will be hosted by China and Japan’s foreign ministers. The timing of this is right before the Trump-Abe summit on 18 April. That should keep things interesting next week.
OPEC gen sec Barkindo out with few comments 11 April – OPEC will monitor and evaluate market conditions, especially impact of market rebalancing – joint tech committee will continue to meet through 2018 to keep evaluating data Oil prices near session lows after retreating in Asia but still seemingly underpinned overall.