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Tuesday, 27 Sep 2016
18:56

Says:

- Iran, Libya and Nigeria should be permitted to produce at maximum levels seen in recent years.

Source: Newswires
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Tuesday, 27 Sep 2016
18:49
Source: Newswires
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Tuesday, 27 Sep 2016
18:03
Source: Newswires
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Tuesday, 27 Sep 2016
18:02
Source: Newswires
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Tuesday, 27 Sep 2016
18:01
Source: Newswires
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Tuesday, 27 Sep 2016
18:01

- High Yield 1.129% vs. Prev. 1.125%

- B/C 2.39 vs. Avg. 2.42 (Prev. 2.54)

- Indirects 61.4% vs. Avg. 61.91% (Prev. 68.7%)

- Directs 4.4% (Prev. 6.2%)

- Allotted at high 15.58%

Source: Newswires
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Tuesday, 27 Sep 2016
17:59
Source: Newswires
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Tuesday, 27 Sep 2016
17:39
Tuesday, 27 Sep 2016
17:34

Nike is scheduled to announce their latest earnings report after the close in which the Co. has a history of beating expectations in particular on its EPS. However, they are expected to fall from last year, given the increased competition with both Adidas and Under Armour increasing their US market share.  Although, focus could fall upon future orders and margins and whether there are any significant changes with some analysts expecting future orders to rise 9%.


- Q1 Adj. EPS Exp. USD 0.56

- Q1 revenue Exp. USD 8.88bln

Source: RANsquawk
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Tuesday, 27 Sep 2016
17:33

Today the US Treasury is to sell USD 34bln in 5y notes and the results are expected shortly after 1800BST (1200CDT).

Looking at the historical data, the B/C at the last auction held was 2.54, dealers taking 25.1% of the issue and indirect bidders accounted for 68.7.6%. The auction prior to the last had a B/C of 2.27 and indirect bidders accounted for 53.6%.

The average of the past five auctions has seen a B/C of 2.42, dealers take 31.47% and indirects taking 61.91% of the issue.

The most recent offering saw an auction close to averages, looking further back, July’s auction saw the B/C hit the lowest level since 2009 while June auction saw another poor B/C. Looking further back, May’s auction was fairly good with dealers coming in well below average.

Source: RANsquawk
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Tuesday, 27 Sep 2016
17:05
Source: Newswires
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Tuesday, 27 Sep 2016
17:02
Source: Newswires
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Tuesday, 27 Sep 2016
16:30
Source: RANsquawk
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Tuesday, 27 Sep 2016
16:30
Source: Newswires
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Tuesday, 27 Sep 2016
16:05
Source: Newswires
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Tuesday, 27 Sep 2016
16:01

EUR gains seen of late, predominantly against GBP have eased off over the last 24 hours, and this has impacted on the EUR/USD rate.  EUR/GBP buying was contained ahead of the post Brexit highs at .8724, and since then, the cross rate has slipped back into the low .8600’s.  Buyers have been noted here, in conjunction with strong selling interest sitting above 1.3000 in Cable, but despite the widespread calls for GBP to press lower to fresh lows, there has been little on the news or data front to have prompted this.  For EUR/USD, pre 1.1300 offers contained the upside here, dipping back under 1.1200, with the financial sector woes in Germany likely weighing to some degree. Money supply in the EU grew by a higher than expected 5.1%, but it does not look like the data is having much of an effect here.  US services ISM came in better than expected to lend a helping hand, but USD buying has selective, trading back up to the highs vs the CAD after trading past 1.3250 in Asia.  A dovish BoC Poloz overnight prompted the move through this prior sticking point.  AUD and NZD have been moving the other way, though better levels were contained in early London, ranging below the highs through the rest of the day.  USD/JPY is currently the calmer pairing to note, with sellers above 101.00 and buyers ahead of 100.00 battling it out.  Away from the FX moves, there was little to glean from the first election debate, with the USD index higher on the day and looking strong into the North American session.  Looking ahead, we expect more headlines from the OPEC meeting tomorrow, but the data schedule remains light, though EU wide confidence indices (including German GfK), KoF leading indicator in Switzerland and US durable goods all noteworthy. 

Source: RANsquawk
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Tuesday, 27 Sep 2016
15:57
Analysis details: 16:01

- As a reminder, there had been earlier reports that Saudi Arabia had offered to reduce oil output by 500k if Iran freeze output. 

Reaction details: 15:59

- In an immediate reaction WTI crude futures fell USD 0.33 from USD 44.62 to USD 44.29

Source: Newswires
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Tuesday, 27 Sep 2016
15:55
Tuesday, 27 Sep 2016
15:31
Source: Newswires
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Tuesday, 27 Sep 2016
15:10

GBP pushing higher, but Cable is finding it hard going into the 1.3000’s.  Last week we saw the spot rate testing through 1.3100 after basing out circa 1.2945, but since then, the market has been turning up the heat on the Pound, with relentless EUR/GBP buying up to .8714 threatening a break higher to new post Brexit.  Brexit uncertainty is the major driver seen for the pressure here over recent sessions, but even though many are calling for lower levels, we would suggest the market needs to see further data to justify further losses from already heavily discounted levels.  Near term stops in Cable seen through 1.3025 and 1.3050-55.  

Source: RANsquawk
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Tuesday, 27 Sep 2016
15:03

USD/CAD rallied to just above the 1.3275 highs seen in Asia before this latest reversal, and despite the weak inflation data in Canada last week alongside the latest dip in Oil prices, we note USD/CAD gains a struggle to hold onto at the highs.  Dips are still getting bought up, but with the heavy selling interest seen up in the 1.3400-1.3500 area, players are happy to sell from current levels, with the prospect of improving growth figures from Q3 onwards.  The Alberta wildfires were accepted to have had a significant impact on the economy, and even though the BoC’s Poloz spoke of the dampening impact from weak Oil prices, CAD value is seen the closer we get to the above mentioned area.  

Source: RANsquawk
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Tuesday, 27 Sep 2016
15:00

- Consumer Expectations 87.5 vs Prev 86.1

- Jobs hard to get index 21.6 vs. Prev. 22.2 

 

Source: Conference Board
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Tuesday, 27 Sep 2016
15:00
Source: Federal Reserve Bank of Richmond
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Tuesday, 27 Sep 2016
15:00
Source: Richmond Fed
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Tuesday, 27 Sep 2016
14:59
Source: Richmond Fed
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