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Based out of Auckland, New Zealand, we bring an institutional trading experience to the retail market.
Mark O' Donnell
 · 
Research Analyst
January 19, 2018
 · 

The BlackBull Bulletin 22/01/18 - 26/01/18

The Week in Review:

The House has passed a last-minute bill to extend government funding until February the 16th and avoid a government shutdown. The bill still needs to pass the Senate in order to completely avoid any shutdown, but this may be harder than expected. Democrats are urging for funding for DACA to be put into the bill before they will support it being passed. The last time the government shutdown was in 2013.

 

Brent crude hit just above $70 on Monday, breaking three-year highs. The price is well supported by increased demand that is driven by healthy economic growth across the globe. Cuts to production are still expected to go ahead and the Russian Energy Minister, Alexander Novak, said “the oil market was not yet balanced.

 

Economic Outlook 22/01/18 – 26/01/18                                   All Times GMT+0

Monday 22/01/18

13:30  The Federal Reserve Bank of Chicago will be releasing their latest figure for the Chicago Fed National Activity Index in December. This is a monthly index that looks at current inflationary pressures and the state of the overall economic activity.

 

13:30  Wholesale Sales show the value of sales made by wholesalers in Canada. Novembers figure for this metric is set to be released by Statistics Canada. This will provide an overview of retail trade and consumer consumption within Canada. A high reading is likely to be bullish for the CAD.

 

Tuesday 23/01/18

n/a  The World Economic Forum kicks off this week in Davos. This is an annual meeting that brings together leaders of business, politics, and industry to discuss their views on a wide range of topics, including economics, climate change, equality, education, and technology.

 

04:00  The Bank of Japan will be releasing their latest Interest Rate Decision along with a Monetary Policy Statement. The rate is expected to stay at -0.10% but the contents of the statement will be crucial in assessing where the BOJ stands on their current monetary policy. A bullish outlook by the BOJ is likely to be bullish for the JPY.

 

23:50  Both Exports and Imports for Japan in December are set to be released by the Ministry of Finance in Japan. These figures will provide an insight into the demand for Japanese goods as well as the demand that Japan has for international goods. A strong demand for Japanese goods may lead to an appreciation of the JPY.

 

Wednesday 24/01/18

09:30  The ILO Unemployment Rate is set to be released by National Statistics. This will display the unemployment rate in the U.K and is a key indicator of the strength of the labour force. A high reading is likely to be bearish for the GBP.

 

21:45  Stats NZ will be releasing their Q4 figures for the Consumer Price Index. This is a measure of a ‘basket of goods’ that represents changes in both consumer prices and inflationary pressures. This widely followed figure is likely to lead to an appreciation of the NZD if it reads higher than expected.

 

Thursday 25/01/18

12:45  The European Central Bank will be announcing their latest Interest Rate Decision. The rate currently stands at 0.10% and is not expected to be changed as of now. A hawkish outlook by the ECB will likely lead to an appreciation of the EUR.

 

13:30  Initial Jobless Claims are set to be released by the U.S Department of Labor. This is a measure of the number of people that are filing first-time claims for state unemployment insurance. This is an indicator of the strength of the labour market; a large part of the economy. A high reading is likely to be bearish for the USD.

 

13:30  Statistics Canada will be releasing their latest figure for Retail Sales in November. This figure represents the total value of goods sold by retailers in Canada for this month. It is a key indicator of consumer trends and can indicate increased economic growth in the long-term. A high reading is likely to be bullish for the CAD.

 

Friday 26/01/18

n/a  Banks in Australia will be closed due to Australia Day.

 

18:00  The latest update of the Baker Hughes Rig Count will be released, providing an insight into the supply of oil via active rigs. This has count represents rigs exclusively used for oil.

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