Sept 12, 2017 – Market Update (Risk off on NoKo, Irma, higher bond yields, change in CNY policy, Cryptos banned but PBOC supporting blockchain, Regulation to come, Samsung cheering over Note 8, Apple’s new iPhone 8 with USD 1000 price tag?, Gold prone to correct to 1300 if no risks off, Japanese stocks ok as long as USDJPY above 108.00)
Asia printing 10-yr highs
Europe opening higher
Jump in bond yields supporting risk on
China likely to change policy in order to avoid quick appreciation of CNY
New milder sanctions against NoKo approved by UN
No NoKo reaction yet, markets relieved a bit
Brexit repeal vote approved, a huge relief for May
Some ECB officials pretty hawkish yesterday but no policy change indication
China’s ICO (crypto) ban targeting illegal activities only
PBOC ok with blockchain technology as such
Samsung cheering the pre-orders for new Note 8 well beating Note 7 success
Volkswagen to invest EUR 20 bln into e-cars
Buying a new sunglasses? EU not happy with Luxottica–Essilor merger (EUR 46 bln)
Apple to show new iPhone 8 but what about the price of USD 1000 ?
Equifax facing hard time after getting hacked
Cancer immunotherapy an option?
BP goes IPO with some US assets
Citi down 15% with trading revenue
Societe Generale selling 49% of its Chinese AM to Warburg Pincus
Japanese stocks should do well as long USDJPY stays above 108.00
10-yr Trys yield at 2.13%
10-yr Bund yield at 0.33%s
Short term strength in USD here as US yields, stocks
Popped up yesterday but need to sustain the gains today too
After showing the hammer at the low last week is now creating a morning star
Fed hawks on the crossroad as they need to reassess the impact of hurricanes on potential Dec hike
Strong support at 91.88 (2016 low), then 89.00 area
May be prone to correct to 1300 on NoKo, Irma risk off and higher US yields
ECB’s Constancio (1345 GMT)
Sep 19-20 FOMC
Sep 21 – Brexit – a major speech from May expected
Is UK sort of reshuffling priorities or looking at a reset of talks?
Oct 18 – China National Congress
Oct 26 ECB
Should you have any questions feel free to contact me anytime.
Good luck Champs!
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