Forexlive RSS Breaking news feed

Forexlive RSS Breaking news feed

German economic advisers cut growth forecast for the year, see more inflation

Posted: 10 Nov 2021 01:33 AM PST

The latest projections by the economic advisers to the German government - 2021 GDP seen at +2.7% (previously +3.1%) - 2022 GDP seen at +4.6% (previously +4.0%) Their previous projections came in March, so that is pretty much irrelevant at this stage considering the change in circumstances over the past few months especially amid supply bottlenecks and rising

China state-owned firms said to call on regulators to adjust lending restrictions to property developers for M&As

Posted: 10 Nov 2021 01:14 AM PST

According to sources cited by Chinese media outlet, Cailianshe It is reported that some Chinese state-owned firms have told regulators to consider adjusting the 'three red lines' on lending restrictions to property developers in order to facilitate mergers and acquisitions within the space.

European equities keep steadier to start the day

Posted: 10 Nov 2021 12:26 AM PST

Risk sentiment in a decent spot as US futures also pare early declines This is helping with the overall risk mood in general, as US futures have also erased its declines in Asia trading. S&P 500 futures and Dow futures are flat on the day while Nasdaq futures are up 0.1% currently.

Dollar keeps slightly firmer to start the session

Posted: 09 Nov 2021 11:56 PM PST

Dollar mostly higher so far on the day The greenback is keeping in a firmer spot as we get things going in European morning trade, with USD/JPY inching back a little above 113.00 while EUR/USD has retreated from 1.1580 to a low of 1.1559 as the ranges stretch.

Eurostoxx futures flat in early European trading

Posted: 09 Nov 2021 11:05 PM PST

Tepid tones ahead of the open This comes as US futures are showing some mixed undertones with Nasdaq futures paring its earlier drop to flat levels while Dow futures are keeping down by 0.2%. S&P 500 futures are down 0.1% at the moment.

Germany October final CPI +4.5% vs +4.5% y/y prelim

Posted: 09 Nov 2021 11:00 PM PST

Latest data released by Destatis - 10 November 2021 - HICP +4.6% vs +4.6% y/y prelim The preliminary report can be found . No change to the initial estimates as this just reaffirms rising price pressures in the German economy going into year-end. The trend should continue through to early next year, so that is pretty much

China's Communist Party meeting in full swing

Posted: 09 Nov 2021 10:27 PM PST

China   The Communist Party is now meeting over November 08 to November 11 in Beijing and the outcome will only be revealed by a communication after the event. President Xi is expected to look at securing a third five year term and Bloomberg consider that President Xi may be issuing a 'historic resolution' in order to

Trade ideas thread - European session 10 November 2021

Posted: 09 Nov 2021 10:08 PM PST

Daily thread to exchange ideas and to share your thoughts US stocks snapped an impressive run of gains yesterday and futures are pointing lower so far today, as the upside run looks to take a bit of a breather.

Economic data coming up in the European session

Posted: 09 Nov 2021 09:16 PM PST

A light calendar day beckons in Europe US futures are on the retreat after major indices fell back from record levels yesterday, with the S&P 500 snapping an eight-day run - its longest streak since 1997.

China property developer Evergrande has $148 million in coupons payment due today

Posted: 09 Nov 2021 08:38 PM PST

China Evergrande Group is due to make coupon payments totalling US$148.1m by Wednesday US time. The end of the 30-day grace period is today, 10 November 2021. 

China launched a sale of euro-denominated sovereign bonds, to raise 4bn EUR

Posted: 09 Nov 2021 08:38 PM PST

China's Ministry of Finance is issuing the bonds following a successful USD denominated issue in October.  Info via Reuters 

China property developer Fantasia says some lenders are requesting early repayments

Posted: 09 Nov 2021 08:16 PM PST

Trading in shares of Fantasia was suspended in September and reopened today.  The group says some lenders are asking for loans to be repaid early.  Fantasia remarks:  

ForexLive Asia FX news wrap: China PPI hits its highest ever

Posted: 09 Nov 2021 07:52 PM PST

Forex news for Asia trading on Wednesday 10 November 2021 Lower US stock markets on Tuesday were a negative input for regional shares here in Asia; Japan, China and Hong Kong all down on the session so far.

Coming up on US data agenda Wednesday - Consumer Price Index (CPI) for October

Posted: 09 Nov 2021 07:30 PM PST

There is plenty on the US economic data docket for 10 November 2021, with the focus firmly on inflation indicators.    This snapshot from the ForexLive economic data calendar, .

China steel price drop to lead to another leg lower for the price of iron ore

Posted: 09 Nov 2021 07:03 PM PST

A piece in the Australian Financial Review highlights a potential next leg down in iron ore. Iron ore prices impact the Australian dollar so this is of note for AUD traders.

AUD traders - Heads up for Australia's employment report due Thursday - preview

Posted: 09 Nov 2021 06:41 PM PST

The Australian Labour Market report for October is due on 11 November 2021 at 0030 GMT.  As reopening accelerated so to hiring is expected to show gains, as is participation. The lift in participation is expected to contribute to the lift in the jobless rate despite the new hiring impetus. 

Australia - Westpac flags a lower unemployment rate, robust rise in hours worked

Posted: 09 Nov 2021 06:29 PM PST

Westpac commentary on the consumer sentiment data they released earlier: WPAC: Westpac expects a lower jobless rate, higher hours worked, and higher employment ahead. The Reserve Bank of Australia will be watching this keenly and looking for wage gains to follow (the RBA want wage gains to spur inflaitonary pressures). 

Note for the diary (Friday) - China state media to give a briefing on Plenum outcome

Posted: 09 Nov 2021 06:09 PM PST

Xinhua will carry a briefing on decisions coming out of the top government summit. For more:

Morgan Stanley recommends short EUR/CAD positions targeting 1.35

Posted: 09 Nov 2021 05:56 PM PST

Morgan Stanley reiterate their bullish bias on CAD on crosses For bank trade ideas,  . --- Chart below shows the 2020 bottom for EUR/CAD

China October CPI 1.5% y/y and PPI 13.5% y/y - both higher

Posted: 09 Nov 2021 05:31 PM PST

China inflation data for October. Both CPI and PPI are higher than estimates.  China CPI 1.5% y/y, rising at its quickest since September 2020 PPI 13.5% y/y, this is the highest since the NBS began this data point in October 1996

China - Goldman Sachs have 2 reasons to be wary of "considerable uncertainty"

Posted: 09 Nov 2021 04:36 PM PST

Goldman Sachs on their outlook for China supply chain issues: 2. and zero-COVID policy  create considerable uncertainty.  GS note that China is 

New Zealand preliminary business survey slides lower

Posted: 09 Nov 2021 04:03 PM PST

The flash readings for the November  ANZ business survey  Activity outlook is 15.6% Business confidence is -18.1% ANZ remarks (in brief) on the prelim results ... bolding mine:

China's President Xi and US President Biden will meet next week. Virtual summit.

Posted: 09 Nov 2021 03:57 PM PST

A specific date has not yet been announced.  Biden and Xi have spoken directly over the phone on two occasions since Biden became Prez. the two have met when Biden was VP. 

Australia - Westpac Consumer Confidence Index for November +0.6% m/m (prior -1.5%)

Posted: 09 Nov 2021 03:43 PM PST

To 105.3 from 104.6

US Treas Sec Yellen comments on the debt ceiling, inflation, recession prospects

Posted: 09 Nov 2021 03:31 PM PST

Speaking in a US media interview (NPR Marketplace), covering a few topics:
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