Financial News

America's Roundup: Dollar climbs from 2-week low as risk sentiment sours, Wall Street falls, Gold dips, Oil slumps 6 pct as equities slide feeds demand worry-November 21st, 2018

Market Roundup

• Oil slumps 7 pct as equities slide fuels demand worries.

• With Carney warning of 1970s-style shock, UK firms ready for no-deal Brexit.

• US Oct Building Permits: Number, 1.263 mln, 1.267 mln forecast, 1.270 mln previous.

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U.S. existing home sales likely to have risen slightly in October, overall sales likely to remain weak in months ahead

U.S. existing home sales data for the month of October is set to be released tomorrow. According to a Wells Fargo research report, existing home sales are likely to have risen slightly in the month.

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Singaporean final Q3 2018 GDP growth estimate likely to have been downwardly revised

Singaporean third quarter GDP data is set to be released this week. According to a DBS Bank research report, the headline growth figure is likely to have come in at 2.5 percent year-on-year and 4.4 percent on a quarterly basis.

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U.S. housing starts rise sequentially in October, likely to see modest gains in remainder of 2018

Housing starts in the U.S. rose in October. On a sequential basis, housing starts rose 1.5 percent to 1.23 million from an upwardly revised 1.21 million in September. The rise was mainly seen in the volatile multi-family segment, which rose 10.3 percent to 363k units.

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FxWirePro: Buy Australian dollar targeting 0.77 against USD

As the dollar continues to exert weakness across the board, and as the Australian economy showing remarkable resilience with economy growing at 3.4 percent y/y in the second quarter of 2018 with unemployment rate hitting 5 percent, despite steady increases in the participation rate, we believe that conditions are currently right to go long on the Australian dollar, based on our calculations.

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