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Forexlive RSS Breaking news feed

SNB total sight deposits w.e. 29 October CHF 717.1 bn vs CHF 715.3 bn prior

Posted: 01 Nov 2021 02:03 AM PDT

Latest data released by the SNB - 1 November 2021 Prior week's release can be found . A modest increase in overall sight deposits, which could suggest the SNB stepping in a little to manage the franc as EUR/CHF fell below 1.0600 on Friday for the first time since May last year.

Switzerland October manufacturing PMI 65.4 vs 65.5 expected

Posted: 01 Nov 2021 01:30 AM PDT

Latest data released by Procure - 1 November 2021 "Procurement problems are likely to be among the factors contributing to a slowdown in output. Suppliers' delivery times are still rising, albeit somewhat less broadly than in previous months. Moreover, purchase prices are widely increasing, with 82% of respondents facing higher costs for input materials."

European equities open higher to kick start the day

Posted: 01 Nov 2021 01:06 AM PDT

Positive vibes at the open The Stoxx 600 is up to fresh record high as equities are picking up from where they left off in October as we get November trading underway. US futures are still holding a slight advance, up by roughly 0.2% as we get things going on the session.

Goldman Sachs brings forward their Fed rate hike timeline to July next year

Posted: 01 Nov 2021 12:15 AM PDT

The firm previously saw the Fed hiking rates some time in Q3 2023 Adding that the change of forecast creates "upside risks" to its bearish dollar forecast, especially against the euro.

Eurostoxx futures +0.5% in early European trading

Posted: 01 Nov 2021 12:13 AM PDT

Positive tones in early trades A solid recovery in US stocks on Friday just adds to the more positive mood in the equities space as investors are keeping faith in the Santa Claus rally.

Trade ideas thread - European session 1 November 2021

Posted: 01 Nov 2021 12:03 AM PDT

Daily thread to exchange ideas and to share your thoughts Isn't it just neat when a new month begins on a Monday? Anyways, the market is keeping calm and relatively steady for the most part with equities holding up and US futures seen up a touch while the dollar is also keeping its advance from Friday after pushing higher

Germany September retail sales -2.5% vs +0.6% m/m expected

Posted: 01 Nov 2021 12:00 AM PDT

Latest data released by Destatis - 1 November 2021

BoJ: Latest JPY weakness not a concern

Posted: 31 Oct 2021 11:51 PM PDT

BoJ The one notable mover in October has been significant JPY weakness. This has been very marked.See below for the monthly snapshot on JPY weakness. So, the one question that was crucial was, 'Is the BoJ worried about this?' The answer is 'no, not at all'. The BoJ is quite happy to see more JPY weakness. BoJ's

Yellen: Believes that Biden will decide on Fed chair position 'reasonably soon'

Posted: 31 Oct 2021 11:06 PM PDT

Further remarks by Yellen in an interview with Reuters Not giving much away here. It mainly boils down to a choice between Powell and Brainard but time is running out as Powell's term is due to expire in February next year. Congress will also need time to consider any nominations and vote on it - more

Economic data coming up in the European session

Posted: 31 Oct 2021 10:52 PM PDT

A light one to kick start the new week The dollar is keeping steady as we look towards European trading, with the yen trailing slightly as bonds continue to remain a key focus in the market.

Japan PM Kishida: Full stimulus plan to be compiled by mid-November

Posted: 31 Oct 2021 10:12 PM PDT

Remarks by Japan prime minister, Fumio Kishida That will at least help to ease the burden on the economy but so far, overall conditions in Japan are slowly picking up though still sitting some way off pre-pandemic levels.

Yellen: US expects China to meet trade deal commitments

Posted: 31 Oct 2021 10:04 PM PDT

Remarks by US Treasury secretary, Janet Yellen

Reminder: The clocks went back in Europe over the weekend

Posted: 31 Oct 2021 09:26 PM PDT

Daylight savings ended in Europe on Sunday The clock goes back by one hour for winter, so just be reminded of that as generally this means that economic data releases from the region will be out an hour later for other parts of the world without daylight savings.

New Zealand PM Ardern says Auckland will remain at Level 3 restrictions

Posted: 31 Oct 2021 08:35 PM PDT

Cases in NZ contiunue to mount, centred on the country's largest city of Auckland

More on South Korea export performance - monthly record for October

Posted: 31 Oct 2021 08:22 PM PDT

Earlier post is here:   South Korea exports - surge continues in October Bloomberg have popped up a summary piece with a little more: (may be gated)  

ForexLive Asia FX news wrap: Major FX rates little changed, gold up

Posted: 31 Oct 2021 07:58 PM PDT

Forex news for Asia trading on Monday 01 November 2021 China kicked off the data flow over the weekend with disappointing (official) PMIs for October. Some amends were made on Monday though with the private survey manufacturing PMI improving. In a nutshell the official PMI survey larger and many state-owned firms while the private, Caixin/Markit survey is better represented with smaller firms. State-owned firms

Morgan Stanley on US stocks - bullish trend but not for much longer

Posted: 31 Oct 2021 07:43 PM PDT

A snippet from MS on their outlook for equities.  Analysts at the bank say that the fundamental picture for stocks is deteriorating MS point to benefits for stocks from seasonality, and "this bullish trend can continue into Thanksgiving, but not much longer.”

China - Caixin Manufacturing PMI 50.6 (vs. expected 50, prior 50)

Posted: 31 Oct 2021 06:46 PM PDT

A good beat on the previous and on expectations.  Over the weekend we had the official PMIs for October: The two surveys (official and Markit) for the two PMIs are different, so its not unusual for there to be some difference between the two results. But, one showing worsening and contraction, and other improvement, a beat, and

OPEC+ meet this week. 400K barrel increase likely to remain, but some prospect of more.

Posted: 31 Oct 2021 06:32 PM PDT

An energy analyst at KPMG says OPEC+ is most likely to stick with the earlier agreed top plan of a 400,000 barrel per day increase. But the group may ponder increasing the amount "marginally, or more substantially,"

Australia data, Housing finance for September: Value of home loans -1.4% (expected -2%)

Posted: 31 Oct 2021 05:38 PM PDT

Home lending for September While there are drops in those data points 92 out the 3 above) they are down from huge, huge gains leading up to record highs. 

Australia data - ANZ job ads for October +6.2% m/m

Posted: 31 Oct 2021 05:35 PM PDT

ANZ comments on the release, saying the result signals a rapid rebound ahead in employment and hours worked. 

Japan - Jibun Bank/Markit Manufacturing PMI (final) for October 53.2 (prior 51.5)

Posted: 31 Oct 2021 05:33 PM PDT

 Japan - Jibun Bank/Markit Manufacturing PMI (final) for October comes in at 53.2 Also, South Korea manufacturing PMI for October 50.2 prior 52.4)  From the Markit report:

Australia monthly inflation indicator +0.2% m/m and +3.1% y/y

Posted: 31 Oct 2021 05:03 PM PDT

October monthly inflation data from Melbourne Institute +0.2% y/y +3.1%  Trimmed mean +0.2% m/m --- Official CPI data is once a quarter in Australia, this monthly guide is a good heads up for the quarterly data. 

South Korea exports - surge continues in October

Posted: 31 Oct 2021 05:01 PM PDT

South Korea data, the per working day exports number (per working day removes the impact of holidays and weekends from the data) +24% y/y

Goldman Sachs on oil - says the bull run is intact

Posted: 31 Oct 2021 04:59 PM PDT

Goldman Sachs has been bullish on oil and continues to be.  OPEC+ meet this week, November 4. 
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