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- Forexlive Americas FX news wrap: Dollar buying into the month end
- Key economic releases and events for the week starting November 1
- Bill Ackman to Fed... It's time to taper immediately...
- No let up in the rout in GBP and EUR
- US holiday retail sales will be especially hard to read this year
- The next big shoe to drop in the global bond market
- UMich October US consumer sentiment final 71.7 vs 71.4 expected
- USD/CAD jumps to post-BOC high on soft GDP and strong USD
- European natural gas prices tumble for the second day
- Canada August GDP +0.4% vs +0.7% expected
- US September PCE core inflation 3.6% versus 3.7% estimate
- US PCE and Canadian GDP coming up next
- ForexLive European FX news wrap: Dollar firms slightly, equities down
- US futures keep lower ahead of North American trading
- The market continues to ramp up ECB rate hike bets
| Forexlive Americas FX news wrap: Dollar buying into the month end Posted: 29 Oct 2021 01:34 PM PDT Forex news for North American trading on October 29, 2021 It was month-end and also a Friday, which can be a formula for illiquid market conditions due to the flows in the market. It became clear in the North American session that dollar buying was the order of course. Going into the London fixing at 11 AM ET/1600 GMT, buyers |
| Key economic releases and events for the week starting November 1 Posted: 29 Oct 2021 12:19 PM PDT It is the first week of the new month which means purchasing managers data along with the US and Canada jobs report are on tap Unlike last week when there was also the earnings calendar, the majority of the major earnings have already been announced. As a result, traders will not need to deal with that dynamic. |
| Bill Ackman to Fed... It's time to taper immediately... Posted: 29 Oct 2021 09:55 AM PDT ...and begin to raise rates ASAP Hedge fund manager Bill Ackman is tweeting: He has a point.... |
| No let up in the rout in GBP and EUR Posted: 29 Oct 2021 08:30 AM PDT Losses extend to more than 100 pips EUR/USD and GBP/USD buyers tried to step in after the fix but they weren't able to hold back wave after wave of selling. Cable is being hit particularly hard as it quickly crumbles to the lowest in two weeks. Buyers might take another stab ahead of 1.3667. |
| US holiday retail sales will be especially hard to read this year Posted: 29 Oct 2021 08:20 AM PDT The secular trend of early shopping continues Christmas shopping starts in October now. A new survey from the US National Retail Federation shows that half of Americans have started shopping already. |
| The next big shoe to drop in the global bond market Posted: 29 Oct 2021 07:31 AM PDT Bund yields have been sub-zero since Q2 2019 The bond market is all over the place. The hawkish shift from central banks (aside from the ECB) is being met with dislocations and some nasty, whippy moves. |
| UMich October US consumer sentiment final 71.7 vs 71.4 expected Posted: 29 Oct 2021 07:00 AM PDT October US consumer sentiment Here's an interesting chart regarding the divergence of inflation views: |
| USD/CAD jumps to post-BOC high on soft GDP and strong USD Posted: 29 Oct 2021 05:59 AM PDT US dollar gets a broad bid Canadian August GDP was a disappointment and that continued into September with Statistics Canada's early estimate showing no growth in the month. That puts Q3 growth at just 0.5%, which is a poor rebound during the reopening. |
| European natural gas prices tumble for the second day Posted: 29 Oct 2021 05:51 AM PDT TTF prices down 14% today What a beautiful chart this is. Parabolic move into a narrowing consolidation and it resolves to the downside. It cracked yesterday and crumbled today. |
| Canada August GDP +0.4% vs +0.7% expected Posted: 29 Oct 2021 05:30 AM PDT August Canadian growth data from Statistics Canada For September, StatsCan writes: That's similar to the US advance Q3 report where it rose 2.0% but if you strip out autos it was up 7.2%. |
| US September PCE core inflation 3.6% versus 3.7% estimate Posted: 29 Oct 2021 05:30 AM PDT Highlights of personal consumption expenditure report - PCE core 0.2% MoM vs estimate of 0.3%. Last month 0.3% - PCE core YoY 3.6% versus estimate of 3.7%. Last month came in at 3.6% Consumer spending and income for June:For the full report |
| US PCE and Canadian GDP coming up next Posted: 29 Oct 2021 05:21 AM PDT Canadian GDP and US PCE on the docket The surprise in eurozone inflation is an early test of the transitory narrative that Lagarde doubled down on yesterday. Now it's the Fed who will be tested ahead of next week's FOMC. The market is pricing in a hike in June, which would be before a $15B/month taper would |
| ForexLive European FX news wrap: Dollar firms slightly, equities down Posted: 29 Oct 2021 05:07 AM PDT Forex news from the European trading session - 29 October 2021 Headlines: Markets: - CHF leads, NZD lags on the day - European equities lower; S&P 500 futures down 0.4% |
| US futures keep lower ahead of North American trading Posted: 29 Oct 2021 03:52 AM PDT Equities stay on the defensive so far today Tech is leading the way lower as sentiment is weighed down by the more disappointing earnings reports from Apple and Amazon yesterday. But broader sentiment is also leaning towards the softer side with European indices also down across the board. |
| The market continues to ramp up ECB rate hike bets Posted: 29 Oct 2021 03:33 AM PDT A 10 bps rate hike is now fully priced in for July 2022 This comes as euro area bond yields continue to surge higher, with Italian 10-year yields rising to 1.17% - its highest since July 2020. Adding to that, the closely watched gap between 10-year Italian and German yields is now at its widest since |
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