Daily Market Update 12 September 2016.

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•Democratic candidate Hillary Clinton has been diagnosed with pneumonia, after becoming overheated and falling ill at a September 11 memorial ceremony.
•The Obama administration stepped into a dispute on Friday over a planned oil pipeline in North Dakota that has angered Native Americans, appealing for calm while blocking construction on federal land and asking the company behind the project to suspend work nearby.
•Boston Fed President Eric Rosengren said in a speech on Friday that gradual interest rate increases might be in order with the U.S. economy at full employment and that low interest rates were increasing the chance of an overheated economy. Rosengren’s comments followed the announcement Thursday that U.S. Fed Governor Lael Brainard would give a speech on Monday. Brainard is considered one of the Fed’s more dovish members. The announcement of her speech likely means she will deliver the message that the Fed is close to raising rates, analysts said, suggesting there may be consensus on the rate-setting Federal Open Market Committee (FOMC) to do so.
•Syrian rebel groups wrote to the United States on Sunday, saying they would “cooperate positively” with a ceasefire but had deep concerns about details of the deal as relayed to them, two rebel officials said. The ceasefire was agreed between Russia, which backs Syrian President Bashar al-Assad, and the United States, which backs some rebel groups, to come into effect at sundown on Monday.
•Britain as a trading nation has become “too lazy and too fat” and business leaders are more interested in playing golf on Friday afternoons than in seeking new export markets, International Trade Secretary Liam Fox was recorded saying.
•North Korea said on Sunday a push for further sanctions following its fifth and biggest nuclear test was “laughable”, and vowed to continue to strengthen its nuclear power.
•China, Housing Leave Aussie Banks Losing out to Canada: http://www.bloomberg.com/news/articles/2016-09-11/china-risk-sees-bond-buyers-demand-premium-from-australian-banks
•Japan’s central bank may be giving up on Surprising Markets: http://www.bloomberg.com/news/articles/2016-09-11/boj-signals-shift-away-from-surprise-tactics-in-new-transparency
•China swats ‘a few flies’ to temper electric-car maker excesses: http://www.bloomberg.com/news/articles/2016-09-11/china-swats-a-few-flies-to-temper-electric-car-maker-excesses
•The Bank of England will hold a monetary policy meeting on Thursday as more hard economic numbers trickle in following June’s Brexit shock, while U.S. data and a speech by policymaker Lael Brainard will give Fed-watchers food for thought. Data and surveys in the coming week will also give a steer on price and industry trends in the euro zone after the European Central Bank disappointed market expectations that it would announce an extension of its asset purchase programme.
downloadwqwqwCurrency Markets.
•The USD rose on Friday as remarks by Fed policy makers helped boost investor expectations of a near-term increase in US interest rates. The dollar index rose more than 0.3%. This morning the dollar index sits at 95.30.
•Commodity-linked currencies were battered by the dollar as traders unwound carry trade positions in higher-yielding currencies like the AUD and NZD. AUD was down around 1.3%.
•On the back of a report on German exports that showed the steepest drop in nearly a year, the euro fell 0.3 percent against the dollar. EUR this morning sits at 1.1233.
•Pound’s composure threatened as Carney returns to center stage: http://www.bloomberg.com/news/articles/2016-09-10/pound-s-composure-threatened-as-carney-returns-to-center-stage
•Dollar jumps as rising September Fed-hike odds burn rand to real: http://www.bloomberg.com/news/articles/2016-09-09/dollar-jumps-as-rising-september-fed-hike-odds-burn-real-to-rand
Regards All.
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