Nick Leeson on the Trading Day Ahead

Nick Leeson on the Trading Day Ahead

Nick Leeson on Indicies Drift

Asian markets are little changed overnight as Global equity indices look set to drift this morning. The FTSE is called two points higher whilst the DAX is currently forecasted to shed 6 points at the opening bell.

The DOW closed higher yesterday even after the US Federal Aviation Authority followed everyone else and grounded the Boeing 737 Max 8 fleet. There is a sense that the worst may be out for Boeing but until the investigation is complete and the findings made public, we will have to wait and see. Boeing shares gained 0.5% yesterday after falling 11% earlier in the week.

The DOW gaining ground whilst one of its components sheds 11% in value shows the resilience of the markets at this point.

With very limited economic data set for the remainder of the week and the markets set to drift, I am looking for opportunities to either short Indices on a bounce or around the opening bell. DAX futures look set to open between 11,560-575, anything above these levels, I will sell. This is an MOO order only .

Shayne Heffernan Comments from Asia


The UK Parliament is set to seek postponement of Brexit, but Brussels may be reluctant to grant it. One argument against may be a potential poison pill in the form of Eurosceptic MEPs, voted in by offended Britons in May.

The dramatic week of Brexit votes in the UK Parliament draws to a conclusion on Thursday. Earlier, MPs rejected both the deal negotiated with the EU by Prime Minister Theresa May’s cabinet, and the option to leave the EU with no deal at all, which the government asked to leave on the table to keep pressure on Brussels. MPs are now set to vote on whether London should ask for a delay in exiting the union.


US President Donald Trump has decided to ground all Boeing 737 Max airplanes, citing safety concerns after the fatal crash in Ethiopia. The US was among the last holdovers in grounding the controversial jet.

“The safety of the American people and all people is our paramount concern,” Trump said Wednesday at the White House, announcing the measure. The order applies to all Max 8 and Max 9 versions of the popular airliner.


Federal prosecutors are probing Facebook’s illicit data-sharing partnerships, reportedly subpoenaing data from smartphone manufacturers as the regulatory walls appear to close in on the beleaguered social media firm.

A New York grand jury has subpoenaed two device-makers’ records as part of a criminal investigation into some of the 150+ dubiously legal data partnerships Facebook forged with technology companies and other large corporations, according to sources familiar with the requests who spoke to the New York Times.

We are cooperating with investigators and take those probes seriously,” a Facebook spokesman said in a statement, adding, “We’ve provided public testimony, answered questions and pledged that we will continue to do so.”

Netizens from all parts of the world have taken to Twitter to complain about their inability to log on to Instagram or Facebook, as both social media networks have been down with an unknown technical glitch for more than 10 hours.


The People’s Bank of China increased its gold reserves for a third straight month in February, bringing total holdings to 1,874 tons, or 60.26 million ounces. The move is part of China’s strategy to shift away from the US dollar.

According to the central bank, it has added about 32 tons of the precious metal to its coffers in the last three months, purchasing some 10 tons in February.


China’s fixed-asset investment (FAI) grew 6.1 percent year on year in the first two months of 2019, 0.2 percentage points higher than that recorded in 2018, the National Bureau of Statistics (NBS) said Thursday.

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