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Forexlive RSS Breaking news feed

Eurozone September industrial production -0.2% vs -0.5% m/m expected

Posted: 12 Nov 2021 02:00 AM PST

Latest data released by Eurostat - 12 November 2021 All in all, output is leaning on the softer side towards the end of Q3 but that is to be expected given the more persistent supply and capacity constraints.

European equities kick start the day on a more positive footing

Posted: 12 Nov 2021 12:24 AM PST

Record highs for the Stoxx 600 and France CAC 40 indices Is there anything that stocks can't handle these days? For all the hype on rate hikes and what not, let's not forget that central banks are still set to grow their balance sheets quite significantly in the next half-year or so.

Spain October final CPI +5.4% vs +5.5% y/y prelim

Posted: 12 Nov 2021 12:00 AM PST

Latest data released by the National Statistics Institute - 12 December 2021 The preliminary report can be found . This just reaffirms the strongest annual inflation in Spain since 1992 as price pressures continue to surge higher across the region, not helped by the persistent supply bottlenecks and capacity constraints.

Quick look at the AUD

Posted: 11 Nov 2021 11:55 PM PST

Watch for peak bearishness Over the last period of time the Australian dollar has been weighed down by four different factors:   This led many asset managers to be short the AUD. However, the tide should be starting to turn now for the AUD and some of these AUD short positions are looking stretched now.

Switzerland October producer and import prices +0.6% vs +0.2% m/m prior

Posted: 11 Nov 2021 11:30 PM PST

Latest data released by the Federal Statistics Office - 12 November 2021

Germany October wholesale price index +1.6% vs +0.8% m/m prior

Posted: 11 Nov 2021 11:00 PM PST

Latest data released by Destatis - 12 November 2021

Trade ideas thread - European session 12 November 2021

Posted: 11 Nov 2021 09:54 PM PST

Daily thread to exchange ideas and to share your thoughts The bond market is back in action today and Treasury yields are sticking with the post-CPI sentiment for the time being still. As such, it is tough to fight the charts as we look to wrap up trading this week.

Economic data coming up in the European session

Posted: 11 Nov 2021 09:21 PM PST

A couple of data points to reaffirm inflation pressures The dollar is trading to its highest levels since July last year, with the dollar index itself breaching 95.00 and multiple charts also reaffirming a technical bias that is favouring the greenback as we look to round off the week.

China's Secret recipe for its economic miracle (from the Plenary session)

Posted: 11 Nov 2021 08:59 PM PST

China's state media with this, comes via Global Times: 1. Development is the absolute principle 2. Deepen reform 3. Stick to opening-up 4. Innovation is the primary driving force behind development

Goldman Sachs turn more positive on China - upgrades offshore stocks to overweight

Posted: 11 Nov 2021 08:26 PM PST

Goldman Sachs is forecasting a better 2022 for Chinese equities.  Info comes via a note referred to via (may be gated)   Bloomberg The Chinese Communist Party will hold its 20th National Party Congress in October of 2022. 

China's economic 'activity data' is due on Monday

Posted: 11 Nov 2021 08:25 PM PST

October data for Industrial Production, Retail Sales, and Fixed Asset Investment is due at 0200 GMT on 15 November 2021  Industrial Production y/y

ForexLive Asia FX news wrap: USD extends a little higher still

Posted: 11 Nov 2021 07:53 PM PST

Forex news for Asia trading on Friday 12 November 2021  The move higher for the USD on Thursday in the US carried on in Asia today albeit in more limited ranges. USD/JPY scaled heights above 114.25 and USD/CHF, too, added gains.

Former adviser to the PBOC says the Evergrande problem is manageable

Posted: 11 Nov 2021 07:26 PM PST

Yu Yongding is a former advisor to the People's Bank of China.  Chinese authorities are grappling with managing property sector liquidity problems at present. Massive debts, massive payments due .... at present its precarious but the alternative is ugly indeed:

Here is what’s on the economic calendar in the US for Friday 12 November 2021

Posted: 11 Nov 2021 07:14 PM PST

JOLTS and the Michigan survey are notable.  Note the central bank speakers, I posted on Lane and Williams earlier: This snapshot pic is from the ForexLive economic data calendar, .

Japan to raise wages for nursery and care workers in the pending economic stimulus package

Posted: 11 Nov 2021 06:49 PM PST

Japan economy minister Yamagiwa says will allocate budgets for raising government-mandated wage levels for nursery and care workers in the coming package. The next economic package is expected next week:

Toyota's Japanese production lines will return to normal in December after 7 months of disruption

Posted: 11 Nov 2021 06:45 PM PST

Toyota plans to produce about 800,000 vehicles globally in December The firm plans to produce 9m vehicles worldwide this fiscal year (ending March 31 2022). 

Goldman Sachs lower their forecast for EUR/USD

Posted: 11 Nov 2021 06:37 PM PST

Snippet summary from Goldman Sachs on the euro and US dollar, via eFx. For bank trade ideas, .   

TD with 4 reasons for gold to head higher - forecasts

Posted: 11 Nov 2021 06:36 PM PST

TD comments on the break higher for gold:

Moody's stable outlook for Asia-Pacific economies - expecting a growth rebound

Posted: 11 Nov 2021 06:10 PM PST

The rating agency says it has a stable outlook for APAC sovereigns as growth rebounds and debt stabilises.  - Says most will rebound, helping to support debt stabilisation at higher levels than pre-pandemic

Analysts wary of China's property downturn copying Spain's &/or US' crashes in the 2000s

Posted: 11 Nov 2021 05:33 PM PST

Oxford Economics say that a more severe downturm in China's housing market  If the downturn copied the US and Spanish property crashes of the 2000s, Chinese growth could plunge as low as 1% y/y by end-2022.

Chinese port city of Dalian reports a jump in COVID-19 cases

Posted: 11 Nov 2021 05:16 PM PST

China is still pursuing a zero policy for coronavirus so the outbreak of cases in this a major sub-provincial port city risks a disruption to ship movements and further supply chain hiccups. 

USD/JPY above 114.20, helping the USD index to its highest since July 2020

Posted: 11 Nov 2021 05:10 PM PST

The US dollar is on the move in Asia morning trade, bid pretty much across the majors board.  The dollar has notably risen since the US CPI report earlier this week:

Biden to prevent companies like Huawei, ZTE from receiving new equipment licenses

Posted: 11 Nov 2021 04:48 PM PST

On Thursday US President Biden signed legislation to prevent companies like Huawei and ZTE that are deemed security threats from receiving new equipment licenses from U.S. regulators. The Secure Equipment Act requires the Federal Communications Commission (FCC) to no longer review or approve any authorization application for equipment that poses an unacceptable risk to national security.

UK Times reports that UK PM Johnson does not want to trigger Article 16 (re dispute with the EU over N. Ireland)

Posted: 11 Nov 2021 04:32 PM PST

Via The Times, a reports that UK Ministers will attempt to de-escalate tensions with the European Union over Northern Ireland in a meeting on Friday. for more (gated). 

ICYMI - Australian consumer inflation expectations have rocketed higher

Posted: 11 Nov 2021 04:12 PM PST

Consumer inflation expectations for November were published Thursday by the Melbourne Institute: 4.6% y/y The Reserve Bank of Australia's repeated assertions of no cash rate hike until 2024 at the earliest are looking increasingly outlandish and untenable. 
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