Jan 12


  • BY: Donal Kelly
  • January, 12th, 2016 13:14 +00:00

Good afternoon,

European equities are in positive territory with the DAX up 1.71%  that is again above 10,000 points.  Industrial and Manufacturing production data in UK were below the expectation and the British Pound is losing nearly 1% against both the Greenback and the Euro. Moderate weakness of Oceanic currencies against the US dollar: AudUsd seems that made a pullback on the intermediate bullish trendline broken last week.

Crude Oil, that lost 16% since the beginning of 2016, is losing 25 cents at 31.16 $/barrel (-0.80%), may rally in the short term, or make a test of the multiyear static support broken in the recent trading sessions. Chinese authorities made borrowing of offshore Yuan in Hong Kong more expensive, thus speculation can temporary have a reduction of intensity. Gold is down 9.1$ at 1,087.10 $/oz (-0.83%), but only below 1,050 the framework on the shiny metal may turn bearish again in the short term.

At 15.15 GMT BOE Carney will hold a speech thus the British Pound is likely to keep its high intraday volatility considering also that at 15 GTM the NIESR GDP data estimate can bring GbpUsd to either test  a fresh multiyear low or to rally in a short squeeze.

(13:00 GMT)