Market Pulse - Currencies
US oil product stockpiles jump last week, DoE says
US crude oil inventories fell by less than analysts had expected last week, helped by a big rise in net imports, even as product stockpiles jumped, a "clear" sign of receding demand, analysts said.
Fed's Rosengren argues for pause, suspects financial markets 'unduly pessimistic'
One of the US central bank's heretofore more 'hawkish' policymakers argued the case for patience before deciding on the next move in monetary policy, even broaching the possibility that no further tightening might be needed.
Germany and France to sign extension of reconciliation treaty to strengthen EU
German Chancellor Angela Merkel and French President Emmanuel Macron are set to sign an extension of their 55-year-old reconciliation treaty on 22 January to try and strengthen the EU against forces trying to tear it apart.
Fed's Bostic sees 'mixed signals', mentions possible cut in rates
The head of the Federal Reserve bank of Atlanta sounded a confident note on the economy, albeit one tinged with caution.
Fed toying with recession, rate cut could happen, Bullard says
One of the US central bank's most 'dovish' rate-setters argued against further monetary policy tightening, warning that it was toying with possibly pushing the economy into recession.
US-China trade talks went 'just fine', statement expected soon
The US and China successfully wrapped-up their first round of trade talks on Wednesday.
FX round-up: Sterling sees profit-taking as investors wait for Trump speech, Commons vote
Sterling was on the back foot on Tuesday, as traders took profits following recent weakness in the US dollar, ahead of an eagerly awaited speech from the US President and a potentially key vote in Parliament on the Prime Minister's Brexit plans.
Commodities: Brent extends gains, China reports rise in official gold holdings
Commodity prices continued to advance on Tuesday amid generally 'risk-on' trading, although traders were carefully scanning the headlines out of the second round of US-China trade talks in Beijing.
US and China narrow differences on trade, reports say
American and Chinese negotiators have reportedly made progress in talks, including on purchases of US goods and services, but the two sides are still not ready to finalise a deal.
US non-farm payrolls jump by 312,000, even as unemployment climbs
Hiring in the USA shot higher at the end of 2018 driven by sharp gains on both the goods and services side of the economy, even as wage growth quickened, enticing more Americans to re-enter the work force.
Hunt cautions Russia over UK/US citizen arrested over alleged spying
Foreign Secretary Jeremy Hunt warned Russia on Friday that “individuals should be not used as pawns in a diplomatic chess game” after US/UK citizen Paul Whelan was detained in Moscow on espionage charges.
Buy when others are fearful, BofA-ML says
For the first time since the Brexit vote, it's 'risk-on' time now, strategists at Bank of America-Merrill Lynch said at the end of the week.
New US and China trade talks to start on Monday
A fresh batch of trade talks between the US and China is set to start on Monday to see where the tensions stand after agreeing to a 90-day truce in early December of 2018.
Irish PM warns that fresh Brexit assurances cannot undermine backstop
Irish Prime Minister Leo Varadkar warned on Thursday that any alterations to the UK’s Brexit deal cannot undermine the Irish backstop, which acts as an insurance policy to avoid a hard border between Northern Ireland and The Republic of Ireland.
US manufacturing PMI falls most since 2008 on China concerns, ISM says
A key gauge of factory sector conditions in the United States hit an over two-year low in December amid uncertainty over the tariff war with China.
Narrow money supply in the euro area stabilises further in November
The euro area's money supply tightened further last month but some economists believed they could spy a silver lining in the data.
FX round-up: Dollar gains in risk-off session, amid negative news out of China
Sterling weakened significantly on Wednesday in a 'risk-off' day for financial assets on the heels of a weak reading on a key economic report in China, even as Beijing fired a 'warning shot' across the bow of the government across the Taiwan Strait, in Taipei.
Caixin China manufacturing sector PMI drops below 50.0 point mark in December
Factory sector conditions in China weakened further at the end of 2018 with companies continuing to pare their headcount and to trim prices amid soft demand conditions, the results of one of the most widely-followed surveys revealed.