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Good Morning: The Long & the Short of it and The Bigger Picture - 18 July 2019 - ADM ISI





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Ostwald, Marc
08:47 (21 minutes ago)

to Marc





- Digesting Japan Trade, Oz Employment & BoK rate cut; awaiting UK Retail
Sales, US Philly Fed & Initial Claims; busy day for EM central bank rate
decisions (BI, SARB, NBU, CBCH), Fed speakers, UK OBR report; plenty more
corporate earnings; France, Spain & US bond auctions; US/China trade war
still the key overriding factor

- Fed Beige Book underlining US economy performing well despite widespread
trade related fears; reaffirms likely rate cut(s) more insurance than
a more protracted cycle

- UK Retail Sales: further modest fall expected, Q1 momentum evaporating

- EM rates: BI delivers first cut, signals more; SARB and NBU also seen
cutting rates today

- Audio preview:
https://www.mixcloud.com/MOstwaldADM/adm-isi-morning-call-18-july-2019/

- Chart: WTI Crude Oil future

..........................................................................
 
Gratings MacD!

Just taken a CAC long at 5536 TPs 55 & 75

Am expecting a minor twitch with frog bonds at 10am, otherwise the Dax is führer. :rolleyes:
 
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