1. Wirecard Stock Slides -10% on Sell Recommendation
Wirecard AG shares slumped after the German payment processor’s Indian business became a focus point again and a Citigroup Inc. analyst said the company faces prolonged uncertainty because of the accounting allegations it’s facing. The shares lost as much as 10 percent on Friday, marking the biggest intraday drop since Feb. 8. Wirecard has been drawn into a London lawsuit by former minority shareholders of an Indian business who claim they were cheated out of money before the embattled payments company bought the firm in 2015. The same Indian entity is being investigated by authorities in Singapore for allegations of money laundering and document forgery.*
2. Oil Prices Stabilise After Week-Long Rally
Oil prices stabilised on Monday, after noting a week long rally, on concerns that an economic downturn may dent fuel consumption. It is important to note however, that crude markets were broadly supported by supply cuts led by producer group OPEC and U.S. sanctions against Iran and Venezuela. Brent crude oil futures were last seen trading at $67.22 per barrel at 7:45 GMT, up 4 cents, or 0.04 percent, from their last close. U.S. West Texas Intermediate (WTI) futures were at $58.74 per barrel, down 8 cents, or 0.1 percent, from their last settlement.**
3. Tesla Unveils New SUV, Boeing Pauses Deliveries
Tesla unveiled its Model Y over the weekend with its sport-utility crossover SUV starting price at $47,000. TSLA closed down -5.01 on Friday before the big reveal event and the stock is seen experiencing major volatility at the US open today. Meanwhile, Boeing paused 737 Max deliveries after a worldwide grounding of the planes amid safety fears. BA tumbled to a six month low after the latest fatal accident in Ethiopia was linked to a Lion Air Crash back in October.***
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This Week’s Most Important Upcoming Events
| Time | Cur. | Imp. | Event | Forecast | Previous | |||
| Tuesday, March 19, 2019 | ||||||||
| 00:30 | AUD | RBA Meeting Minutes | ||||||
| 09:30 | GBP | Average Earnings Index +Bonus (Jan) | 3.2% | 3.4% | ||||
| 09:30 | GBP | Claimant Count Change (Feb) | 13.1K | 14.2K | ||||
| 10:00 | EUR | German ZEW Economic Sentiment (Mar) | -11.0 | -13.4 | ||||
| Wednesday, March 20, 2019 | ||||||||
| 09:30 | GBP | CPI (YoY) (Feb) | 1.8% | 1.8% | ||||
| 14:30 | USD | Crude Oil Inventories | 1.602M | -3.862M | ||||
| GBP | UK Parliament vote on Brexit deal | |||||||
| 18:00 | USD | FOMC Economic Projections | ||||||
| 18:00 | USD | FOMC Statement | ||||||
| 18:00 | USD | Fed Interest Rate Decision | 2.50% | 2.50% | ||||
| 18:30 | USD | FOMC Press Conference | ||||||
| 21:45 | NZD | GDP (QoQ) (Q4) | 0.6% | 0.3% | ||||
| Thursday, March 21, 2019 | ||||||||
| All Day | Japan – Vernal Equinox Holiday | |||||||
| 01:30 | AUD | Employment Change (Feb) | 15.2K | 39.1K | ||||
| 08:30 | CHF | SNB Interest Rate Decision | -0.75% | -0.75% | ||||
| 08:30 | CHF | SNB Monetary Policy Assessment | ||||||
| 09:00 | CHF | SNB Press Conference | ||||||
| 09:30 | GBP | Retail Sales (MoM) (Feb) | -0.4% | 1.0% | ||||
| Tentative | EUR | EU Leaders Summit | ||||||
| 12:00 | GBP | BoE Interest Rate Decision (Mar) | 0.75% | 0.75% | ||||
| 12:30 | USD | Philadelphia Fed Manufacturing Index (Mar) | 6.1 | -4.1 | ||||
| Friday, March 22, 2019 | ||||||||
| 08:30 | EUR | German Manufacturing PMI (Mar) | 48.0 | 47.6 | ||||
| Tentative | EUR | EU Leaders Summit | ||||||
| 10:30 | RUB | Interest Rate Decision (Mar) | 7.75% | 7.75% | ||||
| 12:30 | CAD | Core CPI (MoM) (Feb) | 0.3% | |||||
| 12:30 | CAD | Core Retail Sales (MoM) (Jan) | 0.2% | -0.5% | ||||
| 14:00 | USD | Existing Home Sales (Feb) | 5.10M | 4.94M | ||||
This Week’s Upcoming Earnings Reports:
| Name | Symbol | Next Earnings Date | ||||
| Linde | LING | Mar 18, 2019 | ||||
| HD Supply | HDS | Mar 19, 2019 | ||||
| FedEx | FDX | Mar 19, 2019 | ||||
| BMW ST | BMWG | Mar 20, 2019 | ||||
| Next | NXT | Mar 21, 2019 | ||||
| Nike | NKE | Mar 21, 2019 | ||||
| Tiffany&Co | TIF | Mar 22, 2019 | ||||
*Source: CNBC, Mar 18, 2019 2:48 AM ET
**Source: Bloomberg Mar 18, 2019 3:53 AM ET
***Source: Reuters Mar 18, 2019 03:07 AM ET
