Forexlive Americas news wrap: And it’s a wrap for the year too.

Forex news for NY trading on December 31, 2019

In other markets:

  • Spot gold is trading up $ 2.18 or 0.14% at $ 1517.34.  For the year the preciious metal rose 18.3% after ending the year 2018 at $ 1282.49
  • WTI crude oil futures are trading at $ 61.16. For the year crude oil had a NASDAQ type year with a 34.6% gain

The US stocks today closed with gains and finished their impressive year on a high note. For the day, the NASDAQ led the charge with the 0.3% gain, with the S&P and the Dow on the heals at 0.27% and 0.29%.   European shares did not have agree today.  Below are the percentage changes for the major European and North American indices:

The percentage changes of the US and European stock indicesFor the year, the NASDAQ index led the global indices with a 35.23% gain. The S&P index at the next largest gain at 28.88% and the Italy’s FTSE MIB rose by 28.28%. Below are the percentage changes of the major Asian Pacific, European, and North American indices for the year.
Year to date global stock market changes

In the forex market today, the GBP is ending as the runaway strongest currency of the day. The USD and the NZD are the weakest. 

The GBP is the strongest and the USD and NZD are the weakest today

In the US debt market today the holiday shortened day ended with yields moving higher and the yield curve steepening. The 2 year is up only 0.4 basis points, but the 10 year is up 3.9 basis points and the 30 year is up 6.0 basis points.

US yields are higher For the year:
  • The 2 year yield ended at the end of 2018 at 2.4878% . It close today at 1.5691% a decline 91.87 basis points
  • The 10 year yield closed 2018 at 2.6842% and 2019 at 1.9175%. That is a decline of 76.67 basis points
  • The 30 year yield close 2018 at 3.0145% and 2019 at 2.3896%. That is a decline of 62.5 basis points.

Wishing you all a happy new year.  Good fortune with your trading in 2020 and thank you for all your support this year. 

Peace.  Joy. Good fortune. 

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Optimism on trade and global growth knock dollar

© Reuters. U.S. dollars and other world currencies lie in a charity receptacle at Pearson international airport in Toronto © Reuters. U.S. dollars and other world currencies lie in a charity receptacle at Pearson international airport in Toronto

By Kate Duguid

NEW YORK (Reuters) – The euro, the pound and a clutch of trade-sensitive currencies rallied as the dollar slid to a six-month low on Tuesday, as investor confidence in global growth prospects and the Phase 1 U.S.-China trade deal spurred a risk-on move.

U.S. President Donald Trump said on Tuesday that the first phase of an American trade deal with China would be signed on Jan. 15 at the White House.

The () was down 0.36% to 96.388, its fourth consecutive session in the red and its weakest level since July 1. The Phase 1 trade agreement, which was reached earlier in December, has reduced demand for the safe-haven currency, pulling the dollar down 1.92% in the last month.

December’s move has undone much of the dollar’s strong 2019 thanks to the relative outperformance of the U.S. economy and a long period of uncertainty in the negotiations between Washington and Beijing.

“Weakness in the U.S. dollar towards the end of this year has coincided with the renewed expansion of the Fed’s balance sheet and the paring back of pessimism over the outlook for global growth,” MUFG analysts said.

On the last trading day of the year, the dollar was up just 0.25% for 2019 compared to 4.4% in 2018. At the end of November, it was up 2.18% for the year. The shift also reflects investor bets that the dollar will weaken further in 2020.

“Everybody has been wanting to short the dollar. It has been the most frustrating trade of the year. I think for the most part, there’s not a lot of resistance going back into that trade. If we look into the top 2020 calls for FX, it’s going to be short the dollar,” said Marvin Loh, senior global macro strategist at State Street (NYSE:) Global Markets.

Buoyant end-of-year sentiment encouraged investors to buy up currencies linked to trade and global growth, sending the Australian dollar , and Scandinavian crowns to multi-month or multi-week highs against the greenback.

Investors’ appetite for risk also helped drive the euro () to $ 1.124, a five-month high. It was last trading 0.27% higher at $ 1.123.

Signs that the euro zone economy may be stabilizing have lifted the common currency in recent weeks as investors unwound short positions.

Sterling hit two-week highs against the dollar, although the possibility of a ‘no-deal’ Brexit at the end of 2020 means the currency is still not close to where it was on Dec. 12, the day Prime Minister Boris Johnson won the British election.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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2020 New Year’s celebrations around the world

  Updated 11m ago

New Zealand bids a rough year farewell

Auckland Celebrates New Year's Eve 2019
Fireworks are seen exploding from the Auckland’s Waitemata Harbour and Sky Tower during the Auckland New Year’s Eve celebrations on January 1, 2020 in Auckland, New Zealand. Steve Thomson/Getty

New Zealand’s major cities greeted the new year with traditional fireworks. In Auckland, half a ton of fireworks burst from the Sky Tower above the city center.

New Zealanders saw off the old year without regret.

On March 15, a lone gunman killed 51 people and wounded dozens at two mosques in the South Island city of Christchurch. In December, an eruption of volcanic White Island off the east coast of the North Island killed at least 19 tourists and tour guides. 

Associated Press

  Updated 11m ago

NYC to be “safest place on Earth”

The New Year’s Eve ball drop in Times Square will be one of the most well-policed, well-protected celebrations on the planet, authorities said, as an estimated 1.5 million people prepare to end the 2010s there.

 “We call it our Super Bowl,” NYPD Counterterrorism Chief Martine Materasso told CBS News correspondent Mola Lenghi. “This is it; this is the big show; this is what we wait for all year long.”

Ever since last year’s ball drop, the police department has been preparing for this year’s decade-ending celebration. Describing the security, Materasso called it “multilayered.”

“You will go through numerous steps of screening, from magnetometers to explosive vapor canines,” she said, adding revelers out Tuesday night would also see heavy weapons teams.

The chief said nearly the entire department — thousands of officers, both in uniform and in plainclothes — would help secure Times Square with forces on the ground and in the sky.

  Updated 11m ago

Sydney fireworks go on despite bush fires

Australia fires not enough to cancel Sydney’s New Year’s fireworks display

Sydney, Australia rang in the new year with its world renowned fireworks, but as the country also faces an unprecedented wildfire crisis, many had questioned whether the fireworks should have happened at all. The city had to get an exemption from the total fire ban to hold the fireworks show.

Australia Prime Minister Scott Morrison said he supports the decision to go ahead with the fireworks, saying the event shows his country’s resilience, reports CBS News correspondent Ian Lee.

Other supporters cited the money it generates for the economy, but thousands disagree. Amid the country’s worst wildfire seasons ever, more than 275,000 people signed a petition to cancel the show, saying cities like Sydney that are already choking in smog from fires didn’t need any more smoke in its air.

Australian sky turns apocalyptic red by raging wildfires

The petition also asked that the millions being spent on the fireworks should have gone toward the army of firefighters battling the flames that have destroyed 1,000 homes and to protect some of the country’s devastated wildlife, like some koalas who may have already lost up to 30% of their habitat.

  Updated 11m ago

First countries to celebrate New Year 2020: Tonga, Samoa and Kiribati

The Pacific island nations of Tonga, Samoa and Kiribati were the first countries to welcome the new decade. Kiribati’s 3,200 coral atolls are strewn more than 3 million square miles, straddling the equator.

As the new year begins, Kiribati finds itself on the front line of the battle against climate change, facing drought and rising sea levels.

In 2020, a project funded by the World Bank, Asian Development Bank, Green Climate Fund and Kiribati’s government brings hope of providing safe and climate-secure drinking water to the main island of Tarawa, which is home to most of the nation’s 110,000 people. 

CBS/Associated Press

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Pres. Trump: I’ll be signing trade deal with China on January 15

Pres. Trump tweets about phase 1 China trade deal signing date

Pres. Trump is tweeting that he will be signing the Phase 1 trade deal with China on January 15. The sign it will take place at the White House which is a “win” for the president (although China’s Xi is not attending). In return, the Pres. will be going to Beijing at a later date to begin phase 2 talks

Pres. Trump tweets about phase 1 China trade deal signing date_

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Officers receive over 50 rescue calls as storm slams Midwest

A fierce winter storm that created blizzard conditions in parts of Minnesota, North Dakota and South Dakota shut down interstates and led to hundreds of vehicle crashes on Monday morning. The storm brought a metropolitan area of more than 200,000 people to a standstill. 

North Dakota Highway Patrol Captain Bryan Niewand said law enforcement responded to more than 50 rescue calls, most from people who drove on secondary roads because the interstates were shut down. Cass County Sheriff Jesse Jahner said some stranded travelers spent the night at a church in Page, northwest of Fargo.

Snow wasn’t the only issue during the weekend blast. Freezing rain on Saturday caused nearly 500 crashes on Minnesota roads and caused Metro Transit bus service to shut down in the Twin Cities, the first interruption of service in eight years.

Trending News

Residents in the Fargo and Moorhead, Minnesota, area who are used to snowstorms were told to stay home after a foot of heavy, wet snow fell on top of a sheet of ice, which made travel difficult and stoked early fears about spring flooding.

“This is one [of] the worst storms we’ve had, just because we had ice on the bottom of it and we received several more inches than we expected,” said Fargo Mayor Tim Mahoney. “We’re telling people to be patient. Help your neighbor if you can. If you can make it a little easier for them to get around, please do that.”

While the blizzard warnings were allowed to expire in the Dakotas and some portions of the interstate highways were allowed to open, the storm continued to linger in the region. The National Weather Service issued a winter storm warning in northeastern Minnesota, northern Wisconsin and Michigan’s Upper Peninsula, where periods of heavy snow and gusty winds were expected to create difficult travel conditions.

Forecasters predicted 10 to 14 inches of snow along Lake Superior’s south shore. Wind gusts topping 60 mph whipped up waves that crashed over shoreline barriers in Duluth and Grand Marais, Minnesota, causing localized flooding Sunday.

Greg Gust, a National Weather Service meteorologist in Grand Forks, North Dakota, said the heaviest band of snow fell from Watertown, South Dakota, through the Red River Valley corridor in eastern North Dakota, where snowfall of 18 inches was common. Gust said the highest total so far is 21 inches in Ypsilanti, North Dakota.

Roof collapses were reported in Fargo and Virginia, Minnesota. Gust said the heavy, wet “Igloo snow” was making both driving and shoveling dangerous. He advised that snow clearing be done slowly on Monday, especially since the upcoming week calls for little measurable precipitation and above-normal temperatures.

“It’s a lot of heavy snow to move out of the way,” Gust said. “People should really take it easy. After that, enjoy the above-zero weather.”

Jonathan Wolfe, a National Weather Service meteorologist in Duluth, told the Star Tribune that Sunday’s precipitation and winds were just the first round of what he called an unusually strong winter storm. This season is already one of the top five snowiest to date for the area.

It also continued a trend of wet fall and early winter weather in the Red River Valley, where residents have dealt with chronic spring flooding for years. A diversion structure in Winnipeg, Manitoba, which prevents the north-flowing river from flooding the city, opened its floodgates in the fall for the first time, Gust said.

“The spring thaw and rain are always key factors (to a flood),” Gust said. “But we’re getting there. It’s setting up for a significant event.”

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Yuan hits multi-month highs as economy shows signs of stabilization

© Reuters.  © Reuters.

Investing.com – The hit almost five-month highs and the USD continued to retreat on the last day of the year in Asia.

The was down 0.06% to 96.69 by 8:45 PM ET (01:45 GMT), continuing a multi-day slide.

The People’s Bank of China (PBOC) set the reference rate for the yuan at 6.9762, stronger than the 6.9805 fix set on Monday and its strongest point since early August.

China’s economy continues to show signs of stabilization. The official manufacturing purchasing managers’ index for December released by the National Bureau of Statistics (NBS) Tuesday morning came in at 50.2, steady from a month earlier. A reading above 50 signals expansion.

On a positive note, a sub-index that focuses on new orders for export rose above 50 for the first time in 19 months. However, the non-manufacturing PMI fell to 53.5 from 54.4.

The private Caixin PMI is due out Thursday.

The subdued but positive PMI reading comes as China and the U.S. prepare to sign a phase one deal on their ongoing trade war that has hit both economies.

The pair was up 0.17% to 0.7006 and the was up 0.17% to 0.6736. Both currencies have found gains in the dollar’s slide.

The pair was down 0.15% to 108.70. The Japanese has gained some ground against the greenback this week and is ending a volatile year at roughly the same value as where it started.

The was up 0.09% to 1.3125.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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China Dec. PMIs: Manufacturing 50.2 (vs. expected 50.1) & Services 53.5 (expected 54.2)

These are the official China PMIs for December via he China Federation of Logistics & Purchasing (CFLP) and the National Bureau of Statistics (NBS)

Manufacturing 50.2 for a wee beat

  • expected 50.1, prior 50.2
  • new export orders moved back into expansion, they haven’t been in expansion since May of 2018
  • the output sub index jumped to 53.2 (from Nov. 52.6)
  • employment steady at a a contractionary 47.3 again

Non-manufacturing 53.5 a miss and a dip on the month

  • expected 54.2, prior 54.4

Composite 53.4 

  • prior 53.7

Despite the drop in services the better than expected (by the smallest possible margin) manufacturing number will be a balm for risk markets. Optimism lingers.

Still to come … 

On Thursday 2 Jan, at 0145GMT, the private survey Caixin/Markit Manufacturing PMI for December 

  • expected 51.6, prior 51.8 

and Monday 6 Jan, also at 0145GMT, Caixin/Markit PMIs for Services & also the Composite

  • Services expected 53.4 prior 53.5
  • Composite prior 53.2

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Italy’s FITD fund ready to stump up 700 million euros in Pop Bari rescue

MILAN (Reuters) – A depositor protection fund financed by Italian banks is ready to cover half of a potential capital increase of 1.4 billion euros ($ 1.6 billion) to help rescue ailing lender Banca Popolare di Bari.

In a statement on Monday, the FITD fund said it would stump up as much as 700 million euros to help the bank plug its capital shortfall, adding it had approved an immediate cash injection of 310 million euros.

Popolare di Bari, the biggest lender in the poorer south of the country, was placed under special administration earlier this month after racking up losses fueled by mounting bad loans.

Italy’s coalition government passed emergency measures worth up to 900 million euros after Popolare di Bari management said it urgently needed 1 billion euros, approving a cash injection into state-owned Banca del Mezzogiorno-Mediocredito Centrale.

Earlier this month Regional Affairs Minister Francesco Boccia said the FITD contribution was necessary to comply with European Union rules on state aid to struggling private firms.

FITD, which recently financed a rescue package for Genoa-based bank Carige (MI:), will help Mediocredito in the restructuring of Popolare di Bari.

“The interbank fund assures the special commissioners (at the bank) of its support for the strategic and management measures needed,” FITD said.

Popolare di Bari’s rescue is the latest episode in a string of banking crises that have hit Italy since 2015 and cost the state and other Italian banks some 23 billion euros.

Like other regional banks it never recovered from Italy’s worst post-war recession, which bankrupted thousands of businesses, saddling banks with a mountain of unpaid loans.

Popolare di Bari’s problem debts stand at 23% of total lending this year, up from 13% in 2011.

(For a chart on banking rescue in Italy, click https://fingfx.thomsonreuters.com/gfx/editorcharts/ITALY-BANKS-RESCUES/0H001QXR0B0X/eikon.png)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Nishikori out of Australian Open and ATP Cup with elbow injury

Nishikori out of Australian Open and ATP Cup with elbow injury Nishikori out of Australian Open and ATP Cup with elbow injury

(Reuters) – World number 13 Kei Nishikori has pulled out of next month’s Australian Open as he is yet to fully recover from right elbow surgery, tournament organizers announced on Monday.

The 30-year-old Japanese, who has not played since losing to Alex de Minaur in the third round of the U.S. Open and underwent minor elbow surgery in October, will also miss the inaugural ATP Cup team event in Australia.

“Today, together with my team, we have made this decision as I’m still not 100% ready (or) healthy to compete at the highest level,” Nishikori said in a statement https://ausopen.com/articles/news/nishikori-withdraws-australian-open-2020.

“This decision was not taken lightly as Australia is one of my favorite places to compete. Together with my team I will keep working hard to be back on court as soon as possible. Thanks for all the support.”

Nishikori is the latest high-profile men’s player to pull out of the season’s first Grand Slam following the withdrawal of Briton Andy Murray on Saturday.

Yoshihito Nishioka replaces Nishikori as Japan’s top-ranked player for the ATP Cup which begins on Friday. They face Spain, Georgia and Uruguay in Group B in Perth.

The Australian Open begins on Jan. 20.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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