Date : 17th January 2019.
MACRO EVENTS & NEWS OF 17th January 2019.
** News Today
* UK PM May survived no-confidence vote by 325 to 306. GBP stalled below $1.29.
* EU officials have signalled some willingness for further talks and to an extension of the Brexit deadline.
* Stock markets have moved down from session highs, as caution still prevails amid the multitude of risks: Earnings season ( even if its good so far) , concerns over US-Sino tensions, slowing world growth, while Brexit developments remain the key focus in Europe.
* Fed’s Beige Book: expansion still moderate, but all districts reported tight labor.
* USDJPY scaled to 1-wk high at 109.19; EURUSD has been narrowly orbiting 1.14.
* WTI future pulled back from a session high of $52.36 and is trading at USD 51.95 per barrel, with record high crude production in the US keeping a lid on prices.
Charts of the Day
Main Macro Events Today
* Eurozone’s Final CPI and Core – Expectations – Overall Eurozone HICP should be stable at 1.6% y/y, unchanged from the preliminary report and down from 1.9% y/y in November.
* US Philly Fed Manufacturing Index – Expectations – The Philly Fed index is seen rebounding to 10.0 in January, after December’s 3.5 point slide to a 2-year low of 9.4.
* US Unemployment Claims – Expectations – Initial jobless claims are estimated inching up 1k to 217k in the week ended January
Support and Resistance Levels
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