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International financial news

International financial news

[According to Dow Jones, Saudi officials said the country’s oil production has recovered to 9.8 million barrels per day]

[Fed Huck: The Fed is monitoring the money market and will ensure interest rate control, the Fed rate is very close to the neutral level] Members should strictly control interest rates, and discussions on long-term repo rate arrangements are still in their infancy. Inflation is expected to reach the 2% target, and GDP growth is expected to be “slightly higher than 2%” in 2019. The Fed’s reserves may be approaching its appropriate level, or it may need to restore the organic growth of the balance sheet ahead of schedule.

[Economists have lowered US economic growth expectations in the third quarter] Economists have lowered their forecasts for the third quarter of the US economy due to weak US consumer spending data; Ben Herzon, an economist at macroeconomic consultancy, said The model tracking the growth rate of the US economy shows that the US economic growth forecast in the third quarter has dropped from 2.2% to 1.6%. He attributed this change to the personal consumption expenditure in August, which was lower than expected, and the personal consumption expenditure in July. In addition, Panson's macroeconomic economist Ian Shepherdson also lowered the US economic growth forecast for the third quarter from 2.6% to 2.9%.


GMT(time)

Currency

News and Data

01:00

CNY

Manufacturing PMI

01:45

EUR

German Retail Sales m/m

08:30

GBP

Final GDP q/q

08:30

GBP

Current Account

09:00

EUR

Unemployment Rate

01:45

USD

Chicago PMI



Summary of investment bank views

TD Bank: If the euro falls below 1.0925 against the US dollar, it will lead to more selling pressure. I am afraid to look at 1.0820/40 in the future.




Toronto Dow Bank (TD) released a research report on Friday that pointed out that if the euro fell below 1.0925, it would trigger more selling pressure. Under the general pressure of the G10 currency, the US dollar performed relatively brightly. At the same time, we believe that financing pressures may continue to support the dollar. We see that the EUR/USD has only recently remained above the next key support at 1.0925. If it falls below this, it will lead to greater selling pressure. For the sell, the next attractive price is looking at the 1.0820/40 area.

Mitsubishi UFJ: USD/JPY is trading within a narrow range in the near term, with few fluctuations next week




The Mitsubishi UFJ Research Department discussed the strategic outlook for the USDJPY on Friday and expects the pair to decline in the 109-106 region in the near term. The exchange rate has fallen into a narrow area and it is unlikely that there will be any significant trigger next week. A series of important US economic data will be released next week, but so far the market is more concerned about the policy position. Japan will announce the September short-term economic observations of national enterprises on October 1st, which may indicate whether further monetary policy needs to be relaxed. We will not only focus on short-term economic observations of national enterprises, but also the branch managers' meetings of the Bank of Japan and the speeches of Japanese bank officials.

Citi: Sterling against the US dollar may form a bullish outsourcing monthly line




Tom Fitzpatrick, chief technology strategist at Citigroup, said that he would prefer to make more pounds against the dollar, as the pair could form a bullish outsourcing monthly line at a low point. FItzpatrick said in a research report on Friday that the trading target is 1.28 and the stop loss is at 1.2090; closing at 1.2310 on the end of Monday will complete a bullish outsourcing line at the low point, similar to what was seen in January.


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