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Macro

GUOSEN Closing Bell (September 19)


MARKET

Chinese stocks closed mixed, with the benchmark Shanghai Composite Index ended at 3356.84 points. The Chinese stock benchmark index dipped 0.18%, as the previously popular papermaking stocks retreated. Real Estate and Retail sector led the gains; while Light Manufacturing and Electronic Component sector led the falls. Combined turnover for both markets was CNY 523.4bn, up 1.47% dod.

 

 

Close

% Change

Vol (bn CNY)

%YTD

Shanghai

3356.84

-0.18

220.73

8.16

Shenzhen

11083.90

-0.62

303.07

8.91

CSI 300

3832.12

-0.29

145.53

15.77

ChiNext

1880.30

-0.77

82.19

-4.17

 

Sector

Top 1

Led by

Top 2

Led by

Upward-leading

Real Estate

600736

Retail

601933

Downward-leading

Light Manufacturing

600567

Electronic Component

300088

 

NEWS

*Several Beijing banks raise mortgage rates, halt housing loans. Several banks in Beijing were said to have raised the interest rates on first-home housing loans, beginning Thursday, marking the sixth time this year they have done so, the official-run Securities Daily reported. After the upward adjustment, the rates on first-home housing loans will be 10% higher than the 5-year benchmark interest rate in Beijing, with certain banks requiring as much as 20% above the benchmark. (Caixin)

*CGN interested in UK nuclear project. China General Nuclear Power Corporation, known as CGN, said it will bid to invest in a financially troubled 15 billion pound($20.35 billion) nuclear power station planned for Cumbria, in Northwest England. Known as Moorside, the power station is projected to generate 3.8 gigawatts of power, which is enough to power up to 6 million homes in the United Kingdom. (China Daily)

 

FUND FLOW

 

Click here for more information about Guosen.

This article is from Guosen Securities Co., Ltd. and is being posted with Guosen Securities Co., Ltd.’s permission. The views expressed in this article are solely those of the author and/or Guosen Securities Co., Ltd. and IB is not endorsing or recommending any investment or trading discussed in the article. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

 


14618




Technical Analysis

USDCAD Nearing Weekly Chart Descending Wedge Resistance


The USDCAD bounced roughly 100 pips yesterday, breaking above downchannel resistance (on the 4hr chart).  Although the USDCAD remains within a downchannel (on the daily chart), it is showing early signs of trying to reverse higher as it gravitates towards descending wedge resistance (on the weekly chart).  A break of the weekly chart descending wedge/downtrend resistance would likely coincide with a rally above the daily chart's downchannel resistance.  The weekly, daily and 4hr RSI, Stochastics and MACD are rallying, bottomish or consolidating recent gains.  I am looking to go long in the green zone (of the daily chart), targeting the red zone (on the daily chart) for Wednesday ahead of the FOMC.  The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I set my stops tighter).

 

USDCAD Weekly/Daily/4hr

 

Click here for today's technical analysis on USDCHF, Raw Sugar

 

Tradable Patterns was launched to demonstrate that the patterns recurring in liquid futures and spot FX markets can be analyzed to enhance trading performance. Tradable Patterns’ daily newsletter provides technical analysis on a subset of three CME/ICE/Eurex futures (commodities, equity indices, and interest rates), spot FX and cryptocurrency markets, which it considers worth monitoring for the day/week for trend reversal or continuation. For less experienced traders, tutorials and workshops are offered online and throughout Southeast Asia.

 

This article is from Tradable Patterns and is being posted with Tradable Patterns’ permission. The views expressed in this article are solely those of the author and/or Tradable Patterns and IB is not endorsing or recommending any investment or trading discussed in the article. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

 


14617




Macro

Weaker Daily Fixing Hits Yuan - Risk On Elsewhere in Asia


Morning Briefing September 19th 2017


Tuesday throws up a fairly muted data calendar, although the benchmark German ZEW survey will be he highlight in the morning session.

The European calendar gets underway at 0800GMT, with the release of the EU Current account data. At 0900GMT, the July EMU construction production data will cross the wires.

Also at 0900GMT, Germany's ZEW survey will be published, including both the current conditions and expectations indices.

Across the Atlantic, the US calendar will get underway at 1230GMT, when the latest housing starts data is published.

At the same time, the current account balance and the import/export price index will be released.

The seasonally adjusted pace of housing starts is expected to rise to a 1.170 million annual rate in August after a decline in July, with Hurricane Harvey likely trimming some building from the South region. The real hurricane impact will be seen in next month's data, when Harvey and Irma should both subtract from new home building. In addition, soft building permits in July may restrict an August bounceback. Total starts were down 5.4% year/year before seasonal adjustment in July, while permits were up 2.6%.

Also due at 1230 is the Canadian Monthly Survey of Manufacturing.

At 1255GMT, the latest US Redbook Retail Sales Index will cross the wires.

Global Economic Trading Calendar


Markets


SNAPSHOT: Below gives key levels of markets in the second half of the Asia-Pac session:
- Nikkei 225 up 302.6 points at 20163.37
- ASX 200 up 2.202 points at 5738.6
- Shanghai Comp. down 9.816 points at 3353.043
- JGB 10-Yr future down 15 ticks at 150.82, JGB 10-Yr yield up 0.1bp at 0.033%
- Aussie 3-Yr future down 1 tick at 97.8, Aussie 3-Yr yield up 1bp at 2.161%
- Aussie 10-Yr future down 1 tick at 97.16, Aussie 10-Yr yield up 0.6bp at
2.805%

US TSY/RECAP: Risk on sentiment saw treasuries end lower on Monday with US stocks still firm and tighter Portuguese sovereign debt spreads. Tsys saw mixed flows and reversals of some pre-weekend safe-haven bid flow. Traders say volume was half normal.  - T-Notes open Asia up 1 tick at 126-03+, 10-Year yield last at 2.229%.

US EURODLR FUTURES: Eurodollar up across the strip, seeing some position consolidating ahead of key risk events despite risk-on trade seen in US Tsy's with US Stocks seeing record highs again. Looking ahead to FOMC meetings commencing tomorrow with T-Notes up 3 ticks at 125.05+. Dec (Z7) are now the front contract for Eurodollar Packs and Bundles as Sep (U7) ran off yesterday. Eurodollar giving more on the longer end but no more than +0.020.

STOCKS: Japanese stocks have today moved very positively into the lunch break with the Nikkei 225 up 228.06pts at 20197.56, this is the highest level in more than two years on a two-day slide in the Yen and expectations of a snap election, the 1% gain suggests the Nikkei is playing catch up to a rally after being closed yesterday for a Japanese public holiday. It also mimics US indices as the S&P 500 closed another day on record highs and European markets all closed in the green too after BoE Carney's comments.

OIL: Oil is almost flat in Asia, last down $0.03 at $49.94 after dipping to $49.19 towards the end of the European session yesterday. WTI is still only hovering around the $50 mark as refineries reopen after Hurricane Harvey and demand has risen. Data showed Saudi Arabian crude oil exports fell to 6.693mln bpd in July, down from 6.889 million bpd in June. - Further decreases in rig counts reported on Friday in the Baker Hughes count and we look to Wednesday when DOE Inventory survey's are predicting a lesser increase in Crude Oil inventories.

GOLD: Gold is slightly higher in Asia-Pac trade, the yellow metal last up $1.36 at $1,308.80, but holding near lows after declining yesterday. Gold dropped around $15/oz to hit lows of $1,304.71 yesterday as risk on sentiment continued in the US, with equity indices continuing to make gains at record highs. Gold has hit the lowest levels so far this month amid continued signs of US economic growth and growing expectations that the FOMC will being the process of running off the balance sheet at their meeting on Wednesday this week.

FOREX: Range-trading was the theme during the Asia-Pacific region, investors were unwilling to place new trades ahead of Wednesday's FOMC, leaving the dollar broadly unchanged against its G-10 peers. Dollar-yen pushed higher from Y111.37 to Y111.60 and was last at Y111.53. Aussie trekked higher from $0.7957 to $0.7994 and was last at $0.7968. RBA Minutes showed that they expect to see solid employment growth ahead, iron ore prices are expected to fall, clearer signs of easing in Sydney housing market and Aussie dollar strength is largely due to US dollar weakness. Aussie was last at $0.7967. Meanwhile, Euro-dollar currently trades at $1.1969 and Cable at $1.3514, after trading in respective ranges of $1.1950 to $1.1975 and $1.3494 to $1.3524.   

Technical Analysis


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This article is from Eurex Exchange and is being posted with Eurex Exchange’s permission. The views expressed in this article are solely those of the author and/or Eurex Exchange and IB is not endorsing or recommending any investment or trading discussed in the article. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

 


14615




Options

What's Trading: Autozone Earnings Drives 2-Day Straddle


 

CBOETV - Roma Colwell-Steinke, Senior Instructor, CBOE Options Institute, discusses a two-day trade in WTW.

Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options. Copies are available from your broker, or at www.theocc.com. The information in this program is provided solely for general education and information purposes. No statement within the program should be construed as a recommendation to buy or sell a security or to provide investment advice. The opinions expressed in this program are solely the opinions of the participants, and do not necessarily reflect the opinions of CBOE or any of its subsidiaries or affiliates. You agree that under no circumstances will CBOE or its affiliates, or their respective directors, officers, trading permit holders, employees, and agents, be liable for any loss or damage caused by your reliance on information obtained from the program.

Copyright © 2016 Chicago Board Options Exchange, Incorporated.   All rights reserved.

This video is from CBOE and is being posted with CBOE’s permission. The views expressed in this article are solely those of the author and/or CBOE and IB is not endorsing or recommending any investment or trading discussed in the article. This material is for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IB to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


14613




Options

Vol 411: Calls Active as SPX Climbs in Front of FOMC


 

CBOETV - Jamie Tyrrell, Group One Trading, discusses the climbing SPX ahead of the Fed and sizable trades for September and October call options.

Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options. Copies are available from your broker, or at www.theocc.com. The information in this program is provided solely for general education and information purposes. No statement within the program should be construed as a recommendation to buy or sell a security or to provide investment advice. The opinions expressed in this program are solely the opinions of the participants, and do not necessarily reflect the opinions of CBOE or any of its subsidiaries or affiliates. You agree that under no circumstances will CBOE or its affiliates, or their respective directors, officers, trading permit holders, employees, and agents, be liable for any loss or damage caused by your reliance on information obtained from the program.

Copyright © 2016 Chicago Board Options Exchange, Incorporated.   All rights reserved.

This video is from CBOE and is being posted with CBOE’s permission. The views expressed in this article are solely those of the author and/or CBOE and IB is not endorsing or recommending any investment or trading discussed in the article. This material is for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IB to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


14612




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