Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Event-Driven

<ul>
<li>Solactive has announced the constituent changes for the Global Uranium &amp; Nuclear Components Index. There are 8 adds and 1 delete with implementation at the close on 4 February.</li>
<li>Prior to the rebalance, <a href="https://www.smartkarma.com/entities/bhp-billiton-plc" target="_blank" data-smartkarma-citation="entities:21840:1" rel="noopener">BHP Billiton (BLT LN)</a> will be deleted at the close on 28 January following Unification with <a href="https://www.smartkarma.com/entities/bhp-group-ltd" target="_blank" data-smartkarma-citation="entities:147:1" rel="noopener">BHP Group (BHP AU)</a>.</li>
<li>The flows on the stocks are small, but there is a big impact on the inclusions in Australia. <a href="https://www.smartkarma.com/entities/global-x-uranium-etf" target="_blank" data-smartkarma-citation="entities:32107:1" rel="noopener">Global X Uranium ETF (URA US)</a> will buy around 5.5% of float.</li>
</ul>


Solactive has announced the constituent changes for the Global Uranium &amp; Nuclear Components Index. There are 8 adds and 1 delete with implementation at the close on 4 February.
Prior to the rebalance, BHP Billiton (BLT LN) will be deleted at the close on 28 January following Unification with BHP Group (BHP AU).
The flows on the stocks are small, but there is a big impact on the inclusions in Australia. Global X Uranium ETF (URA US) will buy around 5.5% of float.


Solactive Global Uranium & Nuclear Components Index Rebalance: Most Adds in Oz

Over 25-yrs in Global Materials & Soft Commodities

Charles Spencer

Commodities

INVESTMENT VIEW:  We believe <a href="https://www.smartkarma.com/entities/27448" target="_blank" data-smartkarma-citation="entities:27448:1">Uranium (UXA COMDTY)</a> prices have the potential to rally further following a number of recent supply-side adjustments aimed at reducing and managing industry oversupply.  
This should bode well for industry majors like <a href="https://www.smartkarma.com/entities/27155" target="_blank" data-smartkarma-citation="entities:27155:1">Cameco Corp (CCJ US)</a> and may also support junior miners like <a href="https://www.smartkarma.com/entities/27449" target="_blank" data-smartkarma-citation="entities:27449:1">Azarga Uranium (AZZ CN)</a> for investors with a higher risk/reward profile. 
The CEO of Toronto listed <a href="https://www.smartkarma.com/entities/27449" target="_blank" data-smartkarma-citation="entities:27449:1">Azarga Uranium (AZZ CN)</a> was in Singapore last week and below is a summary of our conclusions:

INVESTMENT VIEW:   We believe Uranium (UXA COMDTY) prices have the potential to rally further following a number of recent supply-side adjustments aimed at reducing and managing industry oversupply.  
This should bode well for industry majors like Cameco Corp (CCJ US) and may also support junior miners like Azarga Uranium (AZZ CN) for investors with a higher risk/reward profile. 
The CEO of Toronto listed Azarga Uranium (AZZ CN) was in Singapore last week and below is a summary of our conclusions: 

Azarga Uranium Meeting Highlights Industry at Inflection

Energy Expert

Thierry Bros, PhD

Thierrybros.com

Thematic (Sector/Industry)

Brexit negotiations are likely to start soon. Everyone is looking at the consequences on forex and on the UK financial sector. But who could benefit from decorrelation of energy prices between the UK and the EU?Following the policy paper " <a href="https://www.oxfordenergy.org/publications/brexits-impact-gas-markets-brext-security-supply-uk-ireland/" target="_blank">Brexit's impact on gas markets: Brexit and security of supply for the UK and Ireland</a>" just published by Oxford Institute for Energy Studies, this insight looks at the Brexit's impact on energy stocks.As the outcome of Brexit is still unknown, we can only draft…

Brexit negotiations are likely to start soon. Everyone is looking at the consequences on forex and on the UK financial sector. But who could benefit from decorrelation of energy prices between the UK and the EU?Following the policy paper " Brexit's impact on gas markets: Brexit and security of supply for the UK and Ireland" just published by Oxford Institute for Energy Studies, this insight looks at the Brexit's impact on energy stocks.As the outcome of Brexit is still unknown, we can only draft…

FX Strategist

Greg Gibbs

Fundamental analysis of topical themes in FX

Amplifying Global FX Capital

Amplifying Global FX Capital was founded in 2015 and is fully owned by Greg Gibbs. It is a registered company both in Australia and Colorado, USA and is a licensed in Australia to provide financial services.

We are producing a regular trading view orientated macroeconomic analysis of topical themes in global financial markets, with a particular focus on foreign exchange. We invite you to view an “executive summary” of these reports in “AmpGFX Reports” under our “Research” menu.

These reports are drawn from the analysis of Greg Gibbs and inform the capital management he undertakes on behalf of the company. The trading performance is posted periodically on our website. We aim to build our company into both a research and capital management business. We are currently in the planning phase for managing capital for wholesale customers.

Greg Gibbs has spent his working life of more than 26 years in financial markets, beginning in 1989 at the Reserve Bank of Australia, after completing a Bachelor of Economics Degree (Honours) at the Australian National University. He has been a CFA Charterholder since 2005. He has worked in Sydney, Singapore, New York and London for major global banks and presented on foreign exchange markets to major financial institutions and companies around the world, and maintained a high profile in the financial media.

Before Amplifying Global FX Capital, Greg was the Head of Asia Pacific Market Strategy at the Royal Bank of Scotland based Singapore. He now resides in Breckenridge Colorado.

Macroeconomics

Little changed to support the rebound in EUR and weakness in the USD on Thursday.&nbsp; In fact dovish ECB comments and on-message statements from senior Fed members suggest the policy divergence is likely to intensify next month.&nbsp; Eurozone industrial production showed a flat trend in recent quarters and US labour data were firm.&nbsp; Eurozone GDP and US retail sales today in focus. A comparison of CAD and AUD reveal much in common, we see downside pressure persisting for both.&nbsp; Weaker oil prices an immediate threat for CAD.&nbsp; Bank of Canada speech tonight in focus.&nbsp; Australian RBA minutes and wage data next week pose downside risk for the AUD.

Little changed to support the rebound in EUR and weakness in the USD on Thursday.&nbsp; In fact dovish ECB comments and on-message statements from senior Fed members suggest the policy divergence is likely to intensify next month.&nbsp; Eurozone industrial production showed a flat trend in recent quarters and US labour data were firm.&nbsp; Eurozone GDP and US retail sales today in focus. A comparison of CAD and AUD reveal much in common, we see downside pressure persisting for both.&nbsp; Weaker oil prices an immediate threat for CAD.&nbsp; Bank of Canada speech tonight in focus.&nbsp; Australian RBA minutes and wage data next week pose downside risk for the AUD.

The AUD is being pulled harder in opposite directions with the labour data suggesting the non-mining sector is coming to life, but weaker commodity demand in China and weak energy prices are dragging harder from below; best to stay on the side-lines for now.&nbsp; Oil prices appear to be responding to concerns over too much supply.&nbsp; The ECB has said low oil prices are a contributing factor to its assessment that more policy easing may be required. We stick to our weaker EUR view, as other major CBs are more prepared to look through the dis-inflation risk.

The AUD is being pulled harder in opposite directions with the labour data suggesting the non-mining sector is coming to life, but weaker commodity demand in China and weak energy prices are dragging harder from below; best to stay on the side-lines for now.&nbsp; Oil prices appear to be responding to concerns over too much supply.&nbsp; The ECB has said low oil prices are a contributing factor to its assessment that more policy easing may be required. We stick to our weaker EUR view, as other major CBs are more prepared to look through the dis-inflation risk.

AmpGFX - AUD pulled harder in opposite directions

Australia

Toro Energy Limited is an Australian uranium exploration company. The Company's flagship and wholly-owned Wiluna uranium project is located southeast of Wiluna in Central Western Australia.  Toro is also a significant explorer in Western Australia, the Northern Territory, South Australia and in Namibia, Africa.

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Toro Energy Ltd (TOE AU)

Solactive Global Uranium & Nuclear Components Index Rebalance: Most Adds in Oz

There are 8 adds and 1 delete for the Solactive Global Uranium & Nuclear Components Index to be implemented at the close on 4 February. There isn't...

Brian Freitas

Azarga Uranium Meeting Highlights Industry at Inflection

INVESTMENT VIEW: We believe Uranium (UXA COMDTY) prices have the potential to rally further following a number of recent supply-side adjustments...

Charles Spencer

Energy: Who Could Benefit from Brexit?

Brexit negotiations are likely to start soon. Everyone is looking at the consequences on forex and on the UK financial sector. But who could...

Thierry Bros, PhD

AmpGFX - CAD and AUD in the hot-seat

Little changed to support the rebound in EUR and weakness in the USD on Thursday. In fact dovish ECB comments and on-message statements from...

Greg Gibbs

AmpGFX - AUD pulled harder in opposite directions

The AUD is being pulled harder in opposite directions with the labour data suggesting the non-mining sector is coming to life, but weaker commodity...

Greg Gibbs

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)