Collinsonfx Weekly Marketing Commentary and Calendar

Monday, January 6, 2020


Daily Market Commentary

The Fed minutes were released Friday and they confirmed the 2019 interest rate cuts, telegraphing rates would remain steady and at record lows for much of 2020. This supported the narrative of extremely generous monetary policy allowing investment to continue and maintaining the low cost of borrowing. The holiday season is now over in the US and Europe and the coming week will welcome an plethora of global economic data releases. US Employment data will headline, while sentiment and CPI inflation will determine economic confidence and growth.

 
The US Dollar continued to recover, with the EUR falling back to 1.1170, while the GBP slipped below 1.3100. The recovering reserve impacted commodity currencies, with the AUD falling below 0.7000, while the NZD retraced back towards 0.6650. Equities drifted from record highs but 2020 promises much, with an environment of both fiscal and monetary expansionism embracing Western economies.
 
Markets will look to the direction dictated by the avalanche of global economic data, determining the atmosphere for the coming year, while Geo-Politics remain a threat.
 
Weekly Market Calendar


6/1 German Retail Sales, Australia Services/Manufacturing/Composite PMI, Japan Manufacturing PMI, China Services/Composite PMI, UK/France/German/EU Services/Composite PMI
 
7/1 US Services/Composite PMI, Australia Consumer Confidence, German Construction, EU CPI, EU Retail Sales, US Trade
 
8/1 Australia Consumer Confidence, US Non-Manufacturing/Services Composite, Durable Goods Orders, US Factory Orders, NZ House Prices, Japan Consumer Confidence, German Factory Orders, EU Consumer Confidence, US Weekly Mortgage Applications, ADP Jobs Reports
 
9/1 NZ Home Sales, NZ Commodity Prices, Australia Trade, China CPI, German Industrial Production, German Trade, German Trade Exports/Imports, German Industrial Production, EU Employment, Challenger Jobs Report, US Weekly Jobs Report, Philly Fed Report
 
10/1 Australia Retail Sales, Japan Leading Index, UK Trade, UK Industrial/Manufacturing Production, Non-Farm Payrolls, US Employment