Moody's cut German banking outlook to negative from stable as profitability weakens
Moody's just their outlook for the German banking industry to 'negative' from 'stable', as they expect German banks' profitability and overall creditworthiness to weaken in a low interest rate environment.
European pre-market: Major currencies little changed after earlier caution
At first glance, you would think that the currencies market is sleeping once again with almost no change observed across the board. Dollar pairs are <0.1% changed, keeping within 10 pips of their closing levels yesterday.
Japan October final machine tool orders -37.4% vs -37.4% y/y prelim
Trade ideas thread - European session 21 November 2019
Softer headlines overnight weighed on risk trades only for China's Liu He to help out with sentiment a little after saying that they remain "cautiously optimistic" over a deal.
Nikkei 225 closes lower by 0.48% at 23,038.58
The Hang Seng is down by 1.6% amid continued protests in the city of Hong Kong while the Shanghai Composite is down by 0.4% at the moment.
Recap: US-China trade headlines from overnight trading
I have mentioned it before, but China's silence on the matter is telling considering how buoyant they were right after the trade meeting in Washington last month.
Heads up: New launch of flash PMI readings for the UK starting tomorrow
Subsequent releases for the data will be at 16 December 2019 and 24 January 2020.
Economic data coming up in the European session
Quite frankly, I still think that talks are on the ropes right now but we'll see how things play out ahead of the weekend.
Japan September all industry activity index +1.5% vs +1.5% m/m expected
Slight delay in the release by the source. The data is often referred to as the monthly GDP reading, it's a tracker production across all sectors of the Japanese economy and follows the GDP growth figures/trend.
Former PBOC Gov says China still has room for further rate cuts
Reuters with the remark from former governor Zhou Xiaochuan