London Trading Session Heads Up Tuesday, July 11, 2017

Dear Steemians! For your attention London opening news digest.

U.S. LNG In Central And Eastern Europe - Taking Diversification Seriously
Last week President Trump met in Warsaw with Polish officials and Central and Eastern European (CEE) leaders at the Three Seas Initiative Summit. As reported by Eurogas, going forward Europe will need to import much more natural gas than suggested by demand growth alone (Figure 1). The 2014 crisis in Ukraine and complete shut off of natural gas supply flowing from Russia added urgency to the matter. If non-Russian supplies of natural gas are readily available, Gazprom loses ability to charge monopoly prices. But there is a visible rift between how diversification efforts are envisaged by the West versus the CEE countries. (forbes.com)

Asian Stocks Make Gains As Investors Look To Yellen
The US Dollar meanwhile was broadly higher, if not by much, as sovereign yields’ rise slowed through the Asian session as investors looked to Ms. By the close the Nikkei 225 had gained 0.6%, with most other Asian indexes higher- probably on that US Dollar strength, again with the exception of Shanghai. The Federal Reserve’s Lael Brainard will talk in New York and the Bank of England’s Chief Economist Andy Haldane speaks in London. Home-loan data released at the same time was weaker than expected, but this did no lasting damage to the Aussie. At present the markets expect one more interest-rate increase in the US this year, and perhaps some reduction of the Fed’s huge balance sheet. (dailyfx.com)

US Dollar May Rise as Pound Drops on Fed, BOE Commentary
The move lower tracked a drop in local front-end bond yields, hinting that a dovish shift in RBNZ policy expectations was the culprit behind the selloff. Dovish rhetoric echoing recent remarks from Governor Mark Carney may clash with a month-long surge in priced-in rate hike bets, pushing the British Pound downward. Next up, Fed Governor Lael Brainard – the most vocally dovish member of the rate-setting FOMC committee – will offer her thoughts. The New Zealand Dollar underperformed in overnight trade, falling against all of its G10 FX counterparts. By contrast, the Australian Dollar and its corresponding bond yields moved higher in tandem. (dailyfx.com)

USD still in gain but Gold looking for new motivations
The mood remained fairly similar during the Asian session as well with the major Asian indices manifesting mixed results. The US Dollar index (DXY), an index measuring the strength of the USD against a basket of other currencies, is currently at 96.18. In the currency markets the USD continues to hold tight, and is still building on the gains made last week. A hawkish tone may pressure gold prices lower. We had a mixed close to Monday’s US session, the S&P and the Nasdaq closed higher but the Dow Jones was lower. (realtimeforex.com)

Have a nice trading!

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