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13:35
01/20/20
01/20
13:35
01/20/20
13:35

FX Summary: Activity was moribund

FX Summary: Activity was moribund in early week trading, ahead of central bank policy decisions this week from the likes of the BoJ, ECB, BoE and BoC, and with U.S. markets closed for the Martin Luther King holiday. The narrow trade-weighted USD index (DXY) eked out a 25-day high at 97.73 as EUR-USD ebbed to a 25-day low at 1.1076 in what was a sub-30-pip range for the latter. USD-JPY plied a sub-15-pip range through to the close of the London interbank market, just below the eight-month high seen on Friday at 110.28. The BoJ has started a two-day policy meeting, where no changes are expected in prevailing uber-accommodative settings, though the central bank is expected to lift growth projections in light of the reduction in trade uncertainty and abatement in Mideast tensions. Cable edged out a five-day low at 1.2962, and EUR-GBP lifted above its Friday peak in making a high at 0.8456. The possibility of the BoE cutting rates at its MPC meeting this Thursday, following a run of sub-par uK data, is keeping the pound under pressure. EUR-CHF remained heavy after hitting a 33-month low at 1.0731 on Friday. The franc rallied strongly last week following the decision by the U.S. to add Switzerland to its list of currency manipulators. USD-CAD ebbed lower, to a 1.3044 low, which is near the midway point of the range see over the last week. Oil prices rallied at the opening of trading today, which sent front-month WTI futures to an 11-day high at $59.66. Reports that two large production sites in Libya closed in the face of military blockades (the country is amid a long-running civil war) underpinned prices. The BoC meets on Wednesday, where no-change is the widespread expectation. The ECB will also be reviewing monetary policy, on Thursday, and is also expected to remain on hold.

TODAY'S FREE FLY STORIES

Hot Stocks
Oshkosh Defense receives $407.3M order for Joint Light Tactical Vehicles » 13:10
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OSK

Oshkosh

$84.06 /

-1.15 (-1.35%)

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Stifel boosts Switch target to $20 after learning of anchor tenant signing » 13:10
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SWCH

Switch

$17.40 /

+0.35 (+2.05%)

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Jazz, PharmaMar announce FDA acceptance, priority review NDA for lurbinectedin » 13:08
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Jazz Pharmaceuticals

$140.98 /

-0.98 (-0.69%)

PharmaMar and Jazz…

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Kraft debt downgrades assures higher borrowing costs, says Stifel » 13:05
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KHC

Kraft Heinz

$26.88 /

-0.895 (-3.22%)

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General Motors to cease Holden sales, design/engineering operations by 2021 » 13:04
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GM

General Motors

$34.76 /

-0.535 (-1.52%)

General Motors said it is…

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S&P lowers Kraft Heinz long-term issuer credit rating to 'BB+' » 13:01
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KHC

Kraft Heinz

$26.88 /

-0.895 (-3.22%)

S&P Global Ratings…

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FX Summary: The pound ebbed some, and the Canadian dollar firmed some » 13:00
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FX Summary: The pound…

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Teva price target raised to $14 from $8 at UBS » 12:56
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TEVA

Teva

$12.21 /

-0.36 (-2.86%)

UBS analyst Kevin…

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Infosys upgraded to Buy from Neutral at Goldman Sachs » 12:53
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INFY

Infosys

$11.02 /

-0.08 (-0.72%)

Goldman Sachs analyst…

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Bombardier sells rail business to Alstom for $8.2B » 12:48
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Bombardier

$0.00 /

+ (+0.00%)

, ALSMY

Alstom

$0.00 /

+ (+0.00%)

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Siemens upgraded to Buy from Hold at Nord/LB » 12:43
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SIEGY

Siemens

$0.00 /

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Nord/LB analyst Wolfgang…

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Oil Action: Front-month WTI prices are flat » 09:45
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Oil Action: Front-month…

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FX Update: The dollar and most other currencies have been stable » 07:55
02/17/20
02/17
07:55
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07:55

FX Update: The dollar and…

FX Update: The dollar and most other currencies have been stable in quiet early-week trading so far. This came with the main Chinese equity indices posting 2%-plus gains after China's Finance Minister said on Sunday that Beijing would roll out targeted and phased tax and fee cuts and with the PBoC lowering one of its interest rates and making another liquidity injection. Other stock markets in Asia were mixed, while European markets posted modest gains. The number of new cases in the coronavirus continued to increase, though the consensus view seems to remain that peak contagion will likely been seen in March. Japan's Nikkei 225 underperformed, closing with a 0.7% loss following weaker than expected Q4 GDP data, which showed a 1.6% q/q contraction versus the median forecast for -0.9%. Q3 data were also revised down, and the data come amid expectations for a dismal current quarter performance given the impact of measures to contain the virus outbreak in China and Japan, and elsewhere. Among the main currencies, EUR-USD has been plying a narrow range just above the 34-month seen on Friday at 1.0827. USD-JPY has posted a sub-15 pip range just below Friday's 107.91 peak so far. Cable has continued to consolidate gains seen mid last week following signs that the government is gearing up a fiscally expansive policy. The pair has been holding with about 1.3030-50, off from the two-week high of last Thursday at 1.3069. AUD-USD has traded slightly firmer, managing to lift just above its Friday high in making a peak at 0.6733. USD-CAD edged out a two-week low, at 1.3225. A big focus will be on flash manufacturing PMI surveys for February, due at the end of the week out of Eurozone, UK and U.S. Note that U.S. and Canadian markets are closed today.

Conference/Events
Azure Power management to meet with Roth Capital » 04:55
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AZRE

Azure Power

$13.70 /

+0.21 (+1.56%)

Meetings to be held in…

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FX Action: USD-CAD edged out a two-week low » 04:00
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02/17
04:00
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04:00

FX Action: USD-CAD edged…

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FX Update: The dollar and most other currencies have been stable » 03:40
02/17/20
02/17
03:40
02/17/20
03:40

FX Update: The dollar and…

FX Update: The dollar and most other currencies have been stable in quiet early-week trading so far. This came with the main Chinese equity indices posting 2%-plus gains after China's Finance Minister said on Sunday that Beijing would roll out targeted and phased tax and fee cuts and with the PBoC lowering one of its interest rates and making another liquidity injection. Other stock markets in Asia were mixed. The number of new cases in the coronavirus continued to increased, though the consensus view seems to remain that peak contagion will likely been seen in March. Japan's Nikkei 225 underperformed, closing with a 0.7% loss following weaker than expected Q4 GDP data, which showed a 1.6% q/q contraction versus the median forecast for -0.9%. Q3 data were also revised down, and the data come amid expectations for a dismal current quarter performance given the impact of measures to contain the virus outbreak in China and Japan, and elsewhere. Among the main currencies, EUR-USD has been plying a narrow range just above the 34-month seen on Friday at 1.0827. EUR-JPY and EUR-CHF have been doing likewise about their respective four-month and five-year lows of Friday. USD-JPY has posted a sub-15 pip range just below Friday's 107.91 peak so far. Cable has continued to consolidate gains seen mid last week following signs that the government is gearing up a fiscally expansive policy. The pair has been holding with about 1.3030-50, off from the two-week high of last Thursday at 1.3069. AUD-USD has traded slightly firmer, managing to lift just above its Friday high in making a peak at 0.6733. USD-CAD edged out a two-week low, at 1.3233. A big focus will be on flash manufacturing PMI surveys for February, due at the end of the week out of Eurozone, UK and U.S. Note that U.S. markets will be closed today.

General news
Asian Market Update: » 03:05
02/17/20
02/17
03:05
02/17/20
03:05

Asian Market Update:…

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Conference/Events
Paramount Group management to meet with Morgan Stanley » 16:42
02/16/20
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16:42
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PGRE

Paramount Group

$14.84 /

+0.15 (+1.02%)

Group Dinner Meeting with…

Group Dinner Meeting with President & CEO Behler and CFO Paes will be held in New York on February 25 hosted by Morgan Stanley.

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8x8, Inc. management to meet with Morgan Stanley » 16:38
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EGHT

8x8, Inc.

$20.41 /

-0.25 (-1.21%)

Meeting to be held in New…

Meeting to be held in New York on February 20 hosted by Morgan Stanley.

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Bausch Health management to meet with Morgan Stanley » 16:36
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BHC

Bausch Health

$27.74 /

+0.305 (+1.11%)

Meeting to be held in New…

Meeting to be held in New York on February 19 hosted by Morgan Stanley.

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Piper Sandler biotech analyst to hold a KOL luncheon » 16:04
02/16/20
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Analysts hold a GU…

Analysts hold a GU Oncology Key Opinion Leader Luncheon Meeting with Dr. Arjun Bala in New York on February 21 hosted by Piper Sandler.

Conference/Events
UBS alternative energy analyst to hold an analyst/industry conference call » 16:03
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Alternative Energy &…

Alternative Energy & Environmental Services Analyst Windham discusses advanced nuclear energy systems with TerraPower on an Analyst/Industry conference call to be held on February 24 at 11 am.

Conference/Events
Cowen Washington policy strategist to hold an analyst/industry conference call » 16:01
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Washington Research…

Washington Research Policy Strategist Krueger holds U.S. Blues: Delegate Download--Morning After (Nevada) Analyst/Industry conference call to be held on February 24 at 10:30 am.

Conference/Events
Stephens oil and gas analysts to hold an analyst/industry conference call » 15:59
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Oil & Gas Analysts,…

Oil & Gas Analysts, along with Brandon Barnes, Senior Analyst for Bloomberg Intelligence, discuss the current state of the energy-related infrastructure in North America, with a specific focus on oil & gas pipeline construction on an Analyst/Industry conference call to be held on February 18 at 11 am.

Conference/Events
Cantor Fitzgerald biotech & specialty pharma analysts to hold a luncheon » 15:57
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PFE

Pfizer

$36.49 /

-0.43 (-1.16%)

, LLY

Eli Lilly

$141.13 /

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, DERM

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$18.75 /

+0.01 (+0.05%)

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$399.34 /

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$78.42 /

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$54.01 /

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Specialty Pharma Analyst…

Specialty Pharma Analyst Chen, Biotech Analysts Young & Merle, along with Key Opinion Leaders Dr. Goldberg, Skin Laser & Surgery Specialists of NY & NJ and Dr. Weinberg, Forest Hills Dermatology Group, discuss the competitive landscape in atopic dermatitis at a Group Luncheon Meeting being held at Cantor's New York offices on February 24 at 12 pm.

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