Halister News

(Bloomberg) -- Advance merchandise trade balance seen at -$59b in Oct. vs revised -$56.5 in Sept. (forecast range -$56.5b to -$61.4b); data on trade in goods and services due Dec. 6.

• Wholesale inventories seen rising 0.2% in Oct. after increasing 0.1% in Sept. (forecast range -0.1% to +0.4%); wholesale inventories account for ~30% of total business inventories

(Bloomberg) -- Uniper opportunities exceed risks on foreseeable joining of MDAX index; announced investor-friendly dividend policy; increasing power prices; potential energy policy changes, especially capacity markets, NordLB analyst Holger Fechner says in note to clients.

• Oct. 6: Uniper, Innogy may enter MDAX as soon as Dec. 19, LBBW says

(Bloomberg) -- Brazil assets may suffer further if there’s confirmation of the reports in Brazilian press that Temer talk with former minister Calero was recorded, and shows Temer pressuring Calero to favor another minister, Luciano Rostagno, chief-strategist at Banco Mizuho, says in a phone interview.

• If the tapes are disclosed and show improper talks, a new political crisis may emerge, damaging government efforts to approve fiscal reforms
  • “The environment could become unfavorable for the reforms debate. The population risks going back to the streets to protest against the Temer government”
• NOTE: Calero, who resigned last week as minister of culture, said Temer urged him to settle an impasse over a construction project in which his top congressional liaison Geddel Lima has a stake, local media reported

(Bloomberg) -- Pound recovers as GDP data shows the U.K. economy continues to be resilient in the aftermath of the Brexit vote; dollar falls vs all G-1O peers.

• Bloomberg Dollar index -0.3% to 1254.18
  • Dollar on the backfoot, with trading interest low after Thursday’s U.S. Thanksgiving holiday, according to a London-based trader

• GBP/USD up 0.1% to 1.2467; resistance at 1.2495, Nov. 24 high
  • U.K. economy grew 0.5% in the third quarter, matching economists’ median forecast
  • EU’s chief Brexit negotiator Michel Barnier doesn’t want to discuss final trade deal until U.K. has agreed payments to EU, border issues and single market, Sky News reported

• EUR/USD +0.4% to 1.0595
  • Resistance: 1.0619; technical analysis suggests corrective bounce may extend to 1.0703
  • Italy Sept. retail sales -0.6% m/m
  • Rate markets signal rising expectations ECB will relax the depo-rate floor on QE purchases to expand the pool of bonds it can buy

• USD/JPY -0.5% to 112.72
  • Strength fades against 113.80-114.56 major hurdle zone
  • Rabobank forecasting a move back to 110.00 over a three- month period; says Japan expected to play a leading role in the fight against isolationist policies in the coming years

• Brent crude oil futures slip 0.7% to $47.61/bbl;
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