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Strange times But remember The Joker once served as the Iranian ambassador for the United Nations.
Stock Market Mania, Trade Deal? and PM Boris
The Week That Was:
A week of ramps, distraction, impeachment and a hyped up WSJ report on a traxe deal that was no where close which had POTUS call the story bogus, but the damage was done. The China US Phase one deal as per the USTR press statement: “The United States will be maintaining 25 percent tariffs on approximately $250 billion of Chinese imports, along with 7.5 percent tariffs on approximately $120 billion of Chinese imports.” The tariffs that will be rolled back were imposed on Sept 1. Much different to the WSJ 50% rollback on $360B in tariffs. It is all dependant on so many factors, clearly the dealing isn’t complete.
We hit extended all time highs in the S&P 500 in a larger economically depressed global world. Is the market ahead of it’s self? Well The Philadelphia Semiconductor Index (SOX) has rippd up 56% in 2019, with the rollout of 5G wireless technology appeared likely to end a downturn in global chip demand and that the trade war would be resolved. The global chip market is forecast to recover by 5.9% in 2020 after shrinking 12.8% this year, according to World Semiconductor Trade Statistics.
Furthermore after being framed as China buying $50 billion worth of ag products in a year Kudlow said it is over two. To put this into context. In 2017, China bought $24 billion in US agriculture. Some deal, they are just going back to that number. This deal is looking weaker by the minute. The stories are aso different, Lighthizer said purchases would increase by $32 billion to $40B and rising to $50 billion per year. “On the ag purchases in the $40-$50 range, that’s over a two year period,” Kudlow said on CNBC, a different spin
It gets better Chinese negotiators, led by Vice Premier Liu He, President Xi Jinping’s point man on U.S. trade, balked at guaranteeing the purchases for fear that such managed trade could violate the rules of the World Trade Organization and cause friction between China and its other trading partners.
At Friday’s briefing, Ning Jizhe, a top deputy of the National Development and Reform Commission, hewed to the position Beijing has maintained throughout the negotiations: “Expanding trade cooperation must be based on market principles and WTO rules.” Mania driven stock markets lapped it up and saw ATH before pulling abck once they looked at the details. More ominous is the 7.5 bps fall in US 10-year notes to 1.82% almost wiped out the previous days rise.
That wasn’t the week’s only big news, over in the UK election PM Boris Johnson has been given a huge working majority. His party the Conservatives won 365 seats over Labor’s 203 the Liberal Democrats 11, Scottish Democrats 48, Green 1 and others 23. Given that Sinn Fein doesn’t take their seats, that leaves Boris Johnson has a working majority of 86. Central Banks were active with meetings, the Federal Reserve, Swiss National Bank and ECB all preached more of the same.
The put call ratio, Vix and talking heads underscore there is no fear out there. We remain at new all time highs for the Dow Jones Industrial Average, S&P 500 and Nasdaq. What happens if music for pass the parcel stops playing? What if on China and the U.S. the market calls their bluff?. There is a reason why so many experienced fund managers are closing up shop.
Apple remains the best-performing stock in the Dow since July 11, when the index first reached 27,000. Since then the Apple shares are up more than 30%. Intel, J.P. Morgan, United Technologies are some of the stocks that have also rallied more than 10% since July 11. Home depot had been but lost 6% in a day after earnings. There are a mutlitude of stocks with losses of 10 to 25% a day in this market, This is the hallmarks of a casino rather than a rational market place.
After OPEC and then Trade tweets oil joined in the fun, jumping over $60.00 despite bearish EIA reports with near record production and crude builds of 11 otf 13 weeks.
The market has shrugged off Brexit, impeachment and geopolitical powder keg risk and Fed injecting 60 Billion into the system to maintain liquidity, in its not QE4 program.The consumer has been keeping the economy robust.
Poltically we have the growing antagonistic and partisan split of the impeachment of the POTUS, in the UK and Europe we have the daily Brexit No Deal on or off. Enjoy those Christmas conversations!
Given the history, markets seem overly optimistic about trade, some would say negligently. The market wants to believe the trade war is constructive, we have warned for over a year about the nonsense of the trade war nearing an end. Very simply you have two different cultures two different political systems and shaming doesn’t do well in either. Read the recent reports with open eyes.
This is a market full of players that think its different this time, sure its different negative rates all around, trillions of worthless debt, unstable politics and Central Bankers putting their thumb in their mouths and seeing which way the wind blows. The fear of missing out and blind partisan politcs creates intertesting bed fellows. Be alert and put your ear plugs in and watch the whole spectrum its all related, geopolitical, debt markets, commodities, stocks, herds, greed and entitlement,
The spectre of Deutschbank overhangs Europe as does the new British PM, Boris Johnson. Their are other spectres out their we just don’t know it, or want to.
“Negative yields on long-dated government securities are more reflective of distorted market conditions than of stronger sovereign credit profiles, Fitch Ratings says. Lower interest service costs support sovereign creditworthiness, but this must be weighed against the impact of the economic conditions leading to lower yields and historically high government debt levels in a number of countries.- Fitch”
We remind you to stay on your toes, ad nauseum we repeat; In this surreal world that market prices can only go up, with bizzare acceptance that we can’t go down and you are a fool if you think otherwise. We have had mixed economic data, no concrete decision on the China and EU trade wars and now a fresh election in the U.K. Here we are (see what ya wanna see).
The Week Ahead
This week we could see more volatility ahead of a swamp of economic reports including Global manufacturing, services and com;osite PMI’s, US housing starts and sales, the Philly Fed manufacturing index and the Q3 GDP report. Over in the UK we get the BoE Interest rate decision coming after Boris Johnson’s landslide win. The Bank of Japan also has it’s monthly monetary session.
The U.S. politically remains combustible, led by Democrat impeachment, Turkey, Iran and Saudi moves, trade wars and repo rates. The market continues to focus on “phase one” of the U.S. China trade talks.
Watch for the MBA mortgage report also it has had huge swings each week and is key to the economy and homebuilders. In the U.S. investors will be watching data that can help us gauge trade war fallout.
U.S. goods are more expensive due to a stronger dollar boosted by geopolitical woes and negative interest rates in Europe. The dollar index hit a 29-month high on Sept. 3. Investors are also transfixed by oil prices in reaction to the Saudi attack and recovery and military respsonses.
Australian and Japan Manufacturing, Services PMI China House Prices, Fixed Asset Investment, Industrial Production, Retail Sales and Unemployment (On Sunday) EU, UK, French, German, Italian, US, Manufacturing, Composite and Services PMI US NAHB Housing Market, TIC Report, RBA Meeting Minutes
EU Balance of Trade UK unemployment, US Building Permits, Industrial Production, Capacity Utilisation, CBI Industrial Trends and Housing Starts API Crude Oil Inventories
- Wednesday UK Consumer Price Index and Retail Price EU Consumer Price Index Germany Producer Price Index, IFO Business Climate, Current Assessment and Expectations EIA US Crude Oil Inventories US MBA Mortgage Applications,
- Thursday UK BoE Interest Rate Decision, GFK Consumer Confidence, Retail Sales, US Initial Jobless Claims, Existing Home Sales, Natural Gas Storage
- Friday UK BBA Mortgage Lending, EU Current Account, Germany GFK Consumer Confidence, US Gross Domestic Product, Personal income, Spending, Consumption and Expenditures, Baker Hughes Oil Rig Count, CFTC Speculative net positions
It is now over 18 months since the trade deal between the United States with China was around the corner. The White house said it needs more time, then turned around and slapped more tariffs on and said hey we are still talking, then off come soem tariifs Now we have phases, one and two. Are we the only one that sees the constant reset to keep markets elevated? If you have half a non partisan brain it should be all pretty clear the great game going on.
For emerging markets the high US dollar means the Fragile 5 continue to shake. Argentina and Turkey are red letter risks. Voters will also be going to the polls in Poland, Indonesia, the Philippines and Thailand this year.
Over $4 trillion of EM debt matures by the end of 2020, of which around a third is denominated in foreign currency, according to the Institute of International Finance. Nevertheless Banks are telling investors to buy, buy, buy, who is selling you should ask?
If you wanted to play in the big room at Vegas, you are living it. Understand risk and the madness of crowds for your own sanity and wealth.
Focus on yourself and what YOU CAN INFLUENCE, set your trading plan and goals in be set for 2019. One suspects it will be a year long Groundhog day for Trump, the GOP and the Democrats. We still have China and the U.S.trade wars.
Earnings The earnings reporting period continued with Casey’s General Stores (NASDAQ:CASY), Chewy (NYSE:CHWY), MongoDB (NASDAQ:MDB), Stitch Fix (NASDAQ:SFIX), Toll Brothers (NYSE:TOL), Vail Resorts (NYSE:MTN), AutoZone (NYSE:AZO), Dave & Buster’s (NASDAQ:PLAY), GameStop (GME), Ollies (NASDAQ OLLI) American Eagle Outfitters (NYSE:AEO), Lululemon (LULU) Tailored Brands (NYSE:TLRD), Nio (NYSE:NIO), Adobe (NASDAQ:ADBE), Broadcom (NASDAQ:AVGO), Costco (NASDAQ:COST) Oracle (NYSE:ORCL)
We start off on Monday with: ;
Tuesday Earnings Include: FedEx (NYSE:FDX), Navistar (NYSE:NAV) and Steelcase (NYSE:SCS)
Wednesday Earnings Include: Micron (NASDAQ:MU) and General Mills (NYSE:GIS)
Thursday Earnings Include: Nike (NYSE:NKE), Carnival (NYSE:CCL), ConAgra (NYSE:CAG), Rite Aid (NYSE:RAD) and Darden Restaurants (NYSE:DRI)
Friday Earnings Include: Winnebago (NYSE:WGO), BlackBerry (NYSE:BBY) and CarMax (NYSE:KMX)
-comment section below data-
Geopolitical Tinderbox Radar
Last Week’s Big Stories
The Week That Was – Last Weeks Recap
- Into The Vortex – EIA Reports -73 Bcf Draw in Natural Gas Storage
- Apple iPhone Shipments Down 35%, Hampered by Tariffs, Competition and 5G
- ECB Leaves Rates Unchanged, Rates and Inflation Outlook Remains
- Swiss National Bank Leaves Negative Rates Unchanged, Franc Remains Highly Valued
- Federal Reserve Keep Rates Steady as Expected, Current Stance of Monetary Policy is Appropriate
- Around The Barrel – Crude Oil. Gasoline and Distillates Inventories All Build Again
- China and India Growth Target Cut by Asian Development Bank
- UK Exports Hit Record High But Trade Deficit Largest in 6 Months
- China Food Prices Continue To Soar, Up 19.1% In A Month
- Goldman Sachs Raises Gold Forecast Another 8.5% on MMT and 2020 Presidential Election
- Adobe Prints Record $11 Billion in Annual Revenue On In Line Earnings
- The US Consumer Loves Deals, Ollie’s Bargain Outlet Follows Big Lots Earnings Beat
- Toll Brothers Home Sales Revenue Down But Contract Value Rising
Biggest Stock Winners and Losers Last Week*
Which Stocks Moved US ETF’s Last Week
US Stock Indices Performance
There was a reason why we kept harping on about this risk: The performance in shares of small-cap companies which are domestically focused than the large-cap firms is a concern for the optimism in the markets, belies the ATH optimism. The small-cap Russell 2000 index had gained 16.6% for the year, which has underperformed the benchmark S&P 500 index which had risen over 19.5%. Whereas the DJIA, NDX and SPX have marked new records highs, it remained 9.7% below its August 2018 high.
The SPX evolved classic Wave 5 impulse after ATH corrected back though the daily speed line, Tenkan. MM 8/8 and Kijun only to close back through them in a violent spit. Best alternatives were a (v) of wave V or wave iii higher, Speed and channel lines in tune with algo calibration curve. Note Chikou rebalance in order.
After Weekly SPX fell hard to test the channel break to reverse the drop it ignited to new all time highs, below we have Kijun and tenkan. Below channel, watch if a spit or clear break support is 50 wma.
(Another ATH Leading underlying strength of US Indices)
CBOE VIX INDEX
Data via Ole S Hansen @Ole_S_Hansen
VIX caution: Not only did the net-short hit a record but so did the percentage of total open interest which reached 50%. History tells us that positions this elevated could leave the short side very vulnerable to a sudden change in direction $SPX $SVXY $XIV
Speculators increased their VIX futures net-short by 17k lots to a RECORD 188k lots in the wk to Oct. 29. During the past month the #SPX rally has helped widen the contango thereby fueling short-selling strategies though futures and inverse ETFs $SVXY and $XIV.
10 Year Treasury Note
Energy and Commodities
US Crude Oil (WTI)
WTI coninued higher after held onto last week’s gains through tenkan, Kijun and 50 dma zone to close over the cloud after OPEC. Rebalancing Chikou with support the Tenkan Kijun below. Watch the channel. The impulse meant a C or (Y) complete – bullish case would be a developing X
WTI sharp impulse higher through 50 WMA resting at the cloud top key supports remain Kijun and 50wma confluence (green), doing work at the old 38%.
US Natural Gas (Henry Hub)
Natural Gas again rejected at the weekly tenkan in it’s bounce, downside held October break up . Resistance from cloud down from impulse. On bounce rebalancing with chikou. Gap above. Correcting the Murrey Math 1/8 and Wave iii or Alt C high. Support also near lows and channel from underneath
Natty trying to get back over trendline break from impulse down after Natural Gas rally rejected at the 61.8% and the March highs with the tenkan and Kijun now resistance around retest of 2.50-52 band after uptrend support at 2.34. Watch for Kijun/Tenkan cross after retesting the weekly channel break.
Baltic Dry Index (BDI)
Gold topside again was rejected by Tenkan in corrective mode of wave structure after it bounced in 3 waves to 1556 to Murrey Math +2/8. Support is Kijun while market decides. From there a C or 3? Like Silver watch Fibs and Tenkan and Kijun. Watching for corrective 2 waves to tell us what this move is.
Silver different pattern to gold after a blow off 3 or C rallied off the 50% after it rallied in 3 waves to retest the September 2017 breakdown We saw sharp bounce through 50wma There is also a chance this is an X. Held back by Kijun with Tenkan above. We watch recent lows if this a 1 down or more .
Australian Dollar – AUDUSD
The Aussie dollar still worked back over the Kijun only to spit the 50 wma but still over tenkan. Work being done after the move to MM +1/8 first target of the bull flag break pulling and then releasing.
New Zealand Dollar – NZDUSD
The Kiwi bounce against AUD and USD continues as reflected in $AUDNZD. Bounced off the Tenkan over Kijun and breakdown (muave) to power through 50 wma just shy of cloud.. Weekly channel in focus with tenkan now support. The Chikou under series of tops key at week’s end.
Canadian Dollar – USDCAD
The USDCAD still playing ping pong between the 50wma and the tenkan, with the lower tested at week’s end. Closing right onsupport and larger flag (white channel) Resistance now top of cloud and 50 wma. The tenkan remains the pivot aspect. Support is previous lows and channel.
Euro – EURUSD
Euro again flirting with tenkan after firm rejection of Kijun governed by $EURGBP Election volatility. Support pennant break. Unless this is a spit the potential of the measured move comes in around 1.0630 and lower. EUR remains a battle between EURJPY and EURCHF and EURGBP.
EuroPound – EURGBP
EURGBP reflects the British Pound surge aft the election – be aware of any fractal spit. Needs impulse for a deeper move. The weekly cloud is well above and resistance is the May breakup reflecting Brexit politics. Resistance at kijun and Tenkan with support at Nov 2017 lows
Japanese Yen – USDJPY
The dollar yen over the weekly Kijun and closed at 50 wma and the cloud twist. Still needs to get over cloud to get legs and pull away. It is drawn by 38% and Murrey 6/8. Kijun need to turn up for impulse. Yen buying returned on crosses, EURJPY and AUDJPY taking away the cloud twist that drew the dollar up.
Mexican Peso USDMXN
Mexican peso gained after it held the cloud and the Kijun. It hen accellerated off the tenkan and back through the channel after the USMC trade deal. Watch if a fractal spit on recent highs.
Turkish Lire USDTRY
USD Turkish Lire found support at daily Kijun and Tenkan to get back above cloud Impulse is needed to pull away from here. Support is the previous break up and tenkan and Kijun. Keep an eye on geopolitical risk factors.
Nothi ng new for Bitcoin as it continues to falter after the 61.8% spit. Well under the tenkan and kijun. Needs to test downtrend for higher correction. Use your MM rules as algos control the herd here, support is the cloud – we said be wary of sharp ABC, 1-2 moves.
The Week Ahead
Key US Economic and Central Bank Events This Week
Sun December 15, 2019
- 17:00 AUD Manufacturing PMI
- 17:00 AUD Services PMI
- 19:01 GBP Rightmove House Price Index (MoM)
- 19:30 JPY Manufacturing PMI (Dec)
- 19:30 JPY Services PMI
- 20:30 CNY House Prices (YoY) (Nov)
- 21:00 CNY Fixed Asset Investment (YoY) (Nov)
- 21:00 CNY Industrial Production (YoY) (Nov)
- 21:00 CNY Retail Sales (YoY) (Nov)
- 21:00 CNY Chinese Unemployment Rate
- 23:30 JPY Tertiary Industry Activity Index (MoM)
Monday, December 16, 2019
- All Day Holiday South Africa – Day of Reconciliation
- 03:15 EUR French Manufacturing PMI (Dec)
- 03:15 EUR French Markit Composite PMI (Dec)
- 03:15 EUR French Services PMI (Dec)
- 03:30 EUR German Composite PMI (Dec)
- 03:30 EUR German Manufacturing PMI (Dec)
- 03:30 EUR German Services PMI (Dec)
- 04:00 EUR Italian CPI (MoM) (Nov)
- 04:00 EUR Italian HICP (MoM) (Nov)
- 04:00 EUR Manufacturing PMI (Dec)
- 04:00 EUR Markit Composite PMI (Dec)
- 04:00 EUR Services PMI (Dec)
- 04:30 GBP Composite PMI
- 04:30 GBP Manufacturing PMI
- 04:30 GBP Services PMI
- 05:00 EUR Wages in euro zone (YoY) (Q3)
- 05:00 EUR Labor Cost Index (YoY) (Q3)
- 06:00 GBP CBI Industrial Trends Orders (Dec)
- 06:00 EUR Reserve Assets Total (Nov)
- 08:30 USD NY Empire State Manufacturing Index (Dec)
- 08:30 CAD Foreign Securities Purchases (Oct)
- 09:45 USD Manufacturing PMI (Dec)
- 09:45 USD Markit Composite PMI (Dec)
- 09:45 USD Services PMI (Dec)
- 10:00 USD NAHB Housing Market Index (Dec)
- 11:30 USD 3-Month Bill Auction
- 11:30 USD 6-Month Bill Auction
- 12:00 GBP BoE Financial Stability Report
- 12:00 GBP BoE FPC Meeting Minutes
- 15:00 NZD Westpac Consumer Sentiment (Q4)
- 16:00 USD US Foreign Buying, T-bonds (Oct)
- 16:00 USD Overall Net Capital Flow (Oct)
- 16:00 USD TIC Net Long-Term Transactions (Oct)
- 19:00 NZD ANZ Business Confidence (Dec)
- 19:30 AUD Home Loans (MoM) (Oct)
- 19:30 AUD Invest Housing Finance (MoM)
- 19:30 AUD RBA Meeting Minutes
- 19:30 SGD Trade Balance
- 21:00 NZD RBNZ Offshore Holdings (Nov)
Tuesday December 17, 2019
- 02:00 GBP Car Registration (MoM) (Nov)
- 02:00 EUR Italian Car Registration (MoM) (Nov)
- 02:00 EUR German Car Registration (MoM) (Nov)
- 02:00 EUR French Car Registration (MoM) (Nov)
- 03:30 HKD Unemployment Rate (Nov)
- 04:00 EUR Italian Trade Balance (Oct)
- 04:30 GBP Average Earnings ex Bonus (Oct)
- 04:30 GBP BoE FPC Meeting Minutes
- 04:30 GBP Claimant Count Change (Nov)
- 04:30 GBP Unemployment Rate (Oct)
- 05:00 EUR Trade Balance (Oct)
- 06:00 GBP CBI Industrial Trends Orders (Dec
- ) 08:30 USD Building Permits (MoM) (Nov)
- 08:30 USD Housing Starts (Nov)
- 08:30 CAD Manufacturing Sales (MoM) (Oct)
- 08:55 USD Redbook (MoM)
- 09:15 USD Capacity Utilization Rate (Nov)
- 09:15 USD Industrial Production (MoM) (Nov)
- 09:15 USD Manufacturing Production (MoM) (Nov)
- 10:00 USD IBD/TIPP Economic Optimism
- 10:00 USD JOLTs Job Openings (Oct)
- 10:20 NZD GlobalDairyTrade Price Index
- 16:30 USD API Weekly Crude Oil Stock
- 16:45 NZD Current Account (QoQ) (Q3)
- 18:30 AUD MI Leading Index (MoM)
- 18:50 JPY Trade Balance (Nov)
- 19:00 NZD ANZ Business Confidence (Dec)
Wednesday, December 18, 2019
- 02:00 EUR German PPI (MoM) (Nov)
- 02:00 EUR German WPI (MoM) (Nov)
- 04:00 EUR German Business Expectations (Dec)
- 04:00 EUR German Current Assessment (Dec)
- 04:00 EUR German Ifo Business Climate Index (Dec)
- 04:30 GBP Core CPI MoM (MoM) (Nov)
- 04:30 GBP Core PPI Output (MoM) (Nov)
- 04:30 GBP CPI (MoM) (Nov)
- 04:30 GBP PPI Input (MoM) (Nov)
- 04:30 GBP PPI Output (MoM) (Nov)
- 05:00 EUR Construction Output (MoM) (Oct)
- 05:00 EUR Core CPI (MoM) (Nov)
- 05:00 EUR CPI (MoM) (Nov)
- 05:00 EUR CPI (YoY) (Nov)
- 06:00 GBP CBI Distributive Trades Survey (Dec)
- 07:00 USD MBA 30-Year Mortgage Rate
- 07:00 USD MBA Mortgage Applications (WoW)
- 07:00 USD MBA Purchase Index
- 07:00 USD Mortgage Market Index
- 07:00 USD Mortgage Refinance Index
- 08:30 CAD CPI (MoM) (Nov)
- 09:00 CHF SNB Quarterly Bulletin
- 10:30 USD Crude Oil Inventories
- 16:45 NZD Exports (Nov)
- 16:45 NZD GDP (QoQ) (Q3)
- 16:45 NZD Trade Balance (MoM) (Nov)
- 19:00 AUD HIA New Home Sales (MoM)
- 19:30 AUD Employment Change (Nov)
- 19:30 AUD Unemployment Rate (Nov)
- 22:00 JPY BoJ Interest Rate Decision
Thursday, December 19 2019
- 01:30 JPY BoJ Press Conference
- 02:00 CHF Trade Balance (Nov)
- 02:45 EUR French Business Survey (Dec)
- 04:30 GBP Retail Sales (MoM) (Nov)
- 06:00 GBP CBI Distributive Trades Survey (Dec)
- 07:00 GBP BoE QE Total (Dec)
- 07:00 GBP BoE Interest Rate Decision (Dec)
- 07:00 GBP BoE MPC Meeting Minutes
- 08:30 USD Continuing Jobless Claims
- 08:30 USD Current Account (Q3)
- 08:30 USD Initial Jobless Claims
- 08:30 USD Jobless Claims 4-Week Avg.
- 08:30 USD Philadelphia Fed Manufacturing Index (Dec)
- 08:30 CAD ADP Nonfarm Employment Change
- 08:30 CAD Wholesale Sales (MoM) (Oct)
- 10:00 USD Existing Home Sales (MoM) (Nov)
- 10:00 USD US Leading Index (MoM) (Nov)
- 10:30 USD Natural Gas Storage
- 11:30 USD 4-Week Bill Auction
- 11:30 USD 8-Week Bill Auction
- 16:00 KRW PPI (MoM) (Nov)
- 18:30 JPY CPI, n.s.a (MoM) (Nov)
- 19:01 GBP GfK Consumer Confidence (Dec)
- 20:30 CNY PBoC Loan Prime Rate
- 21:00 NZD Credit Card Spending (YoY)
Friday Dec 20, 2019
- 02:00 EUR GfK German Consumer Climate (Jan)
- 02:45 EUR French Consumer Spending (MoM) (Nov)
- 02:45 EUR French PPI (MoM) (Nov)
- 03:30 HKD CPI (YoY) (Nov)
- 04:00 EUR Italian Business Confidence (Dec)
- 04:00 EUR Italian Consumer Confidence (Dec)
- 04:00 EUR Spanish Trade Balance
- 04:00 EUR Current Account (Oct)
- 04:30 GBP Business Investment (QoQ) (Q3)
- 04:30 GBP Current Account (Q3)
- 04:30 GBP GDP (QoQ) (Q3)
- 04:30 GBP Gross Mortgage Approvals
- 04:30 GBP Public Sector Net Borrowing (Nov)
- 05:00 EUR Italian PPI (MoM) (Nov)
- 06:00 EUR Italian Trade Balance Non-EU (Nov)
- 07:00 GBP BoE Quarterly Bulletin
- 08:30 USD Core PCE Prices (Q3)
- 08:30 USD Corporate Profits (QoQ) (Q3)
- 08:30 USD GDP (QoQ) (Q3)
- 08:30 USD GDP Price Index (QoQ) (Q3)
- 08:30 USD GDP Sales (Q3)
- 08:30 USD PCE Prices (Q3)
- 08:30 USD Real Consumer Spending (Q3)
- 08:30 CAD New Housing Price Index (MoM) (Oct)
- 08:30 CAD Retail Sales (MoM) (Oct)
- 10:00 USD Core PCE Price Index (MoM) (Nov)
- 10:00 USD Michigan Consumer Sentiment (Dec)
- 10:00 USD PCE price index (MoM) (Nov)
- 10:00 USD Personal Income (MoM) (Nov)
- 10:00 USD Personal Spending (MoM) (Nov)
- 10:00 USD Real Personal Consumption (MoM) (Nov)
- 10:00 EUR Consumer Confidence (Dec)
- 11:00 USD KC Fed Composite Index (Dec)
- 11:00 USD KC Fed Manufacturing Index (Dec)
- 11:00 CAD Budget Balance (Oct)
- 12:00 USD Dallas Fed PCE (Nov)
- 13:00 USD U.S. Baker Hughes Oil Rig Count
- 14:30 USD CFTC Speculative net positions
Saturday, Dec 21, 2019
Stock Buyback Watch
Via Emad Mnati @EmadMnati and MarketBeat
Note these charts, opinons news and estimates and times are subject to change and for indication only. Trade and invest at your own risk.