Originally published by AxiTrader
London/NY Session Wrap:
* German and Euro Zone retail sales numbers for November beat expectations, arriving at 1.4 % and 0.6 % respectively (vs 0.4 % and 0.2 % expected)
* The US ISM Non-Manufacturing PMI number was disappointing, arriving at 57.6 vs 59.6 expected
* Federal Reserve Member Bostic sees only one interest rate increase for 2019
* The recovery in the US stock market resumed on Monday with the S&P 500 rising 0.8 percent
* In Europe, investors remained more cautious as they are wary of political risks
FX
* The Greenback weakened across the board, following dovish comments from Fed´s Powell on Friday
* The US dollar only managed to rise slightly against the Japanese yen - which suffered from the improvement in risk appetite
* The euro is slowly approaching 1.15; positive economic data from the Euro Zone gave it a slight boost, along with broad US dollar weakness
* The pound is consolidating in a tight range, but expect a sharp increase in volatility as we approach the next Brexit vote in the UK Parliament on Jan 14-15
Commodities
* Oil prices jumped after Saudi Arabia announced it is planning to reduce exports to 7.1 million barrels per day
* WTI almost touched the $50 level, but failed to keep up the momentum and eventually fell back $49
* Nevertheless, positive momentum is growing, and the charts suggest WTI could see a recovery in the near-term
* Gold continues to benefit from the Dollar weakness, but improved risk appetite prevented a continuation of the rally
APAC Session Preview:
* Economic calendar is rather light
* Only notable data release: The Australian trade balance for November, expected at 2.23bln (vs 2.31bln previously)
* Traders remain focused on the trade talks between the US and China, which have started today
* Brexit talks to come into focus as well towards the end of the week