- China to adjust import tariffs for some products starting on Jan 1st 2020: To allow 859 items with preferential tariffs

- Japan Chief Cabinet Sec Suga: Has not eased export controls on South Korea; changes to controls are just procedural


- ECB's Knot (Netherlands): Council needed to reassess its monetary policy. Should be in in depth review of inflation causes, rising wages are not translating into higher prices anymore


- Pres ident Trump said to have invited PM Johnson to visit the US in New Year (Note: no date has been set but mid Jan has been suggested)


- President Trump: Just achieved a breakthrough on the US/China trade deal and we will be signing it very shortly

- White House spokesperson Deere: President Trump signed $1.4T spending package to avert shutdown (as expected)

- Brazil President Bolsonaro: President Trump told me the US would NOT levy additional import tariffs on steel and aluminum

- Argentina President Fernandez announced emergency bill; Senate granted extraordinary powers to renegotiate debt terms with creditors and increase taxes. Argentina delayed payments on $9.0B USD-denominated debt


- Russia Foreign Min Lavrov: Nord Stream 2 and Turk Stream gas pipeline projects would be launched despite US sanctions




Indices [Stoxx600 0.00% at 418.42, FTSE +0.15% at 7,593.65, DAX -0.18% at 13,294.59, CAC-40 -0.01% at 6,021.10, IBEX-35 -0.21% at 9,655.00, FTSE MIB -0.55% at 23,872.53, SMI +0.29% at 10,709.50, S&P 500 Futures +0.07%]

Market Focal Points/Key Themes: European indices mixed following mixed indices in Asia and slightly higher US futures. Virbac shares jump after raising FY19 outlook on Friday after market close. Gresham Technologies up 13% on trading update and raised guidance, as well as new contract award. Koenig & Bauer down after cutting FY19 outlook on Friday after market close and Nichols shares plunge 19% on FY20 profit warning. Neste shares up on reinstatement of US blender's tax credit, which will have a positive impact on earnings. Atlantia shares fall after Italian government changes motorways concession rules. Seadrill outperforming +17% after being awarded West Phoenix rig contract. Schmolz+Bickenbach up on share offering on Friday after market close. NMC shares rallying as the company will launch an independent review of its books.



- Consumer discretionary: Nichols [NICL.UK] -16% (trading update)

- Financials: Credit Suisse [CSGN.CH] -1% (investigation), Intu Properties [INTU.UK] -0.5% (divestment)

- Industrials: Koenig & Bauer [B5A.DE] -10% (profit warning)

- Technology: Gresham Technologies [GHT.UK] +18% (trading update; contract), ams [AMS.CH] +1% (divestment



- Russia Energy Min Novak: To complete Nord Stream 2 in near future

- China Presidential office: China, South Korea should help North Korea and US sustain dialogue. China was willing to enhance its ties with Japan to a new level


Currencies/Fixed Income

- FX turnover in session was low with interest said to be even lower. Little in terms of data and news was exhibited in the session.

- EUR/USD at 1.1085 and USD/JPY at 109.35 area

- GBP/USD steady after last's week 500 pip sell-off.


Economic Data

- (FI) Finland Nov Preliminary Retail Sales Volume Y/Y: 1.0% v 3.3% prior

- (FI) Finland Nov PPI M/M: -0.2% v 0.0% prior; Y/Y: -0.8% v -0.9% prior

- (DE) Germany Nov Import Price Index M/M: % v 0.4%e; Y/Y: % v -2.3%e - (TW) Taiwan Nov Industrial Production Y/Y: 2.2% v 0.6%e

- (TW) Taiwan Nov Unemployment Rate: 3.7% v 3.7%e

- (HU) Hungary Oct Final Trade Balance: €0.5B v €0.5B prior

- (ES) Spain Nov PPI M/M: -0.5% v +0.5% prior; Y/Y: -2.3% v -2.8% prior

- (AT) Austria Oct Industrial Production M/M: 0.7% v 0.2% prior; Y/Y: -1.0% v -0.5% prior

- (CH) Swiss Nov M3 Money Supply Y/Y: 1.3% v 1.9% prior

- (CH) Swiss Total Sight Deposits w/e Dec 20th (CHF): 585.8B v 586.8B prior; Domestic Sight Deposits:498.9 B v 499.8B prior

- (PL) Poland Nov Unemployment Rate: 5.1% v 5.1%e

- (PL) Poland Nov Construction Output Y/Y: % v -4.0% prior

- (SL) Sri Lanka Nov National CPI (NCPI) Y/Y: 4.1% v 5.6% prior

**Fixed Income Issuance**

- (IT) Italy Debt Agency (Tesoro) sold €6.5B vs. €6.5B indicated in 6-month bills; Avg Yield: -0.221% v -0.215% prior; Bid-to-cover: 1.47x v 1.51x prior

- (IT) Italy Debt Agency (Tesoro) sold €2.0B vs. €1.5-2.0B indicated in 2-year CTZ Bonds; Avg Yield: -0.005% v -0.033% prior; bid-to-cover: 1.48x v 1.82x prior


Looking Ahead

- (IL) Israel Nov Leading 'S' Indicator M/M: No est v 0.3% prior

- (UR) Ukraine Central Bank Dec Minutes

- (BE) Belgium Dec CPI M/M: No est v 0.1% prior; Y/Y: No est v 0.4% prior

- (RU) Russia Central Bank (CBR) quarterly monetary report

- 05:30 (EU) ECB 7-day Main Refinancing Operation Result (MRO)

- 05:30 (HU) Hungary Debt Agency (AKK) to sell 3-Month Bills

- 05:30 (HU) Hungary Debt Agency (AKK) to sell 12-Month Bills

- 06:00 (IL) Israel Nov Unemployment Rate: No est v 3.4% prior

- 06:25 (BR) Brazil Central Bank Weekly Economists Survey

- 06:30 (CL) Chile Central Bank Dec Minutes

- 07:00 (MX) Mexico Q3 Aggregate Supply and Demand: No est v -1.0% prior

- 07:00 (ES) Spain Nov YTD Budget Balance: No est v -€6.3B prior

- 07:00 (IN) India announces details of upcoming bond sale (held on Fridays)

- 07:00 (CY) Cyprus to sell 3-month Bills

- 08:00 (PL) Poland Nov M3 Money Supply M/M: No est v 1.2% prior; Y/Y: No est v 9.3% prior

- 08:00 (UK) Daily Baltic Dry Bulk Index

- 08:30 (US) Nov Preliminary Durable Goods Orders: 1.5%e v 0.5% prior; Durables (ex-transportation): 0.2%e v 0.5% prior; Capital Goods Orders (Non-defense/ex-aircraft): 0.0%e v 1.1% prior; Capital Goods Shipments (Non-defense/ex-aircraft): No est v 0.8% prior

- 08:30 (US) Nov Chicago Fed National Activity Index: No est v -0.71 prior

- 08:30 (CA) Canada Oct GDP M/M: No est v 0.1% prior; Y/Y: No est v 1.6% prior

- 10:00 (US) Nov New Home Sales: 730Ke v 733K prior

- 11:30 (US) Treasury to sell 13-week and 26-week bills

- 13:00 (CO) Colombia Central Bank Minutes

- 13:00 (US) Treasury to sell 2-year Notes

- 14:00 (CO) Colombia Oct Economic Activity Index (Monthly GDP)

- 14:00 (AR) Argentina Oct Economic Activity Index (Monthly GDP) M/M: No est v -1.6% prior; Y/Y: No est v -2.1% prior

- 14:00 (AR) Argentina Nov Trade Balance: No est v $1.8B prior; Total Exports: No est v $5.9B prior; Total Imports: No est v $4.1B prior

- 18:50 (JP) BOJ Oct Minutes

All information provided by Trade The News (a product of Trade The News, Inc. "referred to as TTN hereafter") is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to Buy or Sell securities. Although information is taken from sources deemed reliable, no guarantees or assurances can be made to the accuracy of any information provided. 1. Information can be inaccurate and/or incomplete 2. Information can be mistakenly re-released or be delayed, 3. Information may be incorrect, misread, misinterpreted or misunderstood 4. Human error is a business risk you are willing to assume 5. Technology can crash or be interrupted without notice 6. Trading decisions are the responsibility of traders, not those providing additional information. Trade The News is not liable (financial and/or non-financial) for any losses that may arise from any information provided by TTN. Trading securities involves a high degree of risk, and financial losses can and do occur on a regular basis and are part of the risk of trading and investing.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD rebounds after dismal US PMIs

EUR/USD is trading closer to 1.0850, rising in response to weak US PMIs, with the services one pointing to contraction. Earlier, German Manufacturing PMI beat estimates. 


GBP/USD advances to 1.2950 after US data

GBP/USD is trading around 1.2950, taking advantage of US weakness stemming from a downfall in Markit's Services PMI in the US. In Britain, the Manufacturing PMI exceeded estimates. 


Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Consolidation process underway

The Crypto board continues to be immersed in an emotional leg-breaking, consistently punishing the emotional state of the traders with its continuous changes of direction.

Read more

XAU/USD unstoppable, breaks to fresh 2020 highs, approaching $1650/oz

XAU/USD is trading in an uptrend above its main daily simple moving averages (SMAs) while breaking above a bull channel. Gold is printing fresh 2020 highs hitting $1646.64 per ounce on an intraday basis.  

Gold News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info

Forex Majors