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  1. examplespaintest2

    Puppy love - EMEA Brief 28 Sep

    1 2 3 4 5 Asian overnight: Japanese markets have led the way overnight, in a session that has been overwhelmingly bullish. The rise of crude prices has helped drive energy stocks higher, with the weekend decision from OPEC to retain current levels of output still being felt. The FOMC also remains a driver of price action, with the dollar continuing to gain ground overnight. A meeting between Japanese PM Shinzo Abe and Donald Trump appeared to go off without a hitch, helping avoid any trade conflict. Japan was also in focus when it came to overnight data, with a rise in Tokyo core CPI and retail sales boosting the economic picture despite a disappointing industrial production number UK, US and Europe: Looking ahead, current account balance and final GDP for the UK could bring some attention to the pound. However, the big European figure of the day comes from the eurozone, where the flash CPI reading should heighten euro volatility. In the US session, keep an eye out for the core PCE price index, personal spending, and Chicago PMI figures. Meanwhile, the CAD should experience some volatility with the release of their latest GDP figure. Economic calendar - key events and forecast (times in BST) Source: Daily FX Economic Calendar 8.55am – German unemployment (September): unemployment rate to hold at 5.2%. Market to watch: EUR crosses 9.30am – UK GDP (Q2, final): forecast to be 1.3% YoY and 0.4% QoQ. Market to watch: GBP crosses 10am – eurozone CPI (September): forecast to be 2.1% YoY from 2%, and core CPI to be 1.2% from 1%. Markets to watch: eurozone indices, EUR crosses 1.30pm – US personal income & spending (August): income to rise 0.4% MoM from 0.3% and 0.4% from 0.4% for spending. Market to watch: USD crosses 2.45pm – US Chicago PMI (September): index to rise to 63.8 from 63.6. Markets to watch: US indices, USD crosses 3pm – US Michigan consumer sentiment (September, final): index to hold at 96.2. Markets to watch: US indices, USD crosses Corporate News, Upgrades and Downgrades Direct Line upgraded to overweight at JPMorgan Ekinops SAS upgraded to buy at Kepler Cheuvreux H&M upgraded to hold at SocGen Golden Ocean upgraded to buy at SEB Equities EON downgraded to hold at SocGen H&M downgraded to hold at Kepler Cheuvreux S Immo cut to accumulate at Erste Group Tele2 downgraded to hold at SEB Equities IGTV featured video Information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
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