Forexlive RSS Breaking news feed

Forexlive RSS Breaking news feed

Tom Lee on CNBC (bull) hedges a bit

Posted: 17 Nov 2021 09:15 AM PST

A perennial bull supports his firms technical analyst Tom Lee - a forever bull - analyst is on CNBC in support of his firms technical analysis, Mark Newton, who believes the S&P index might be near a peek at the end of this week, and now says that this could result in "some consolidation which could retraced 38 250% of the move up

US reduces strategic petroleum reserve deposits by 3.2M barrels

Posted: 17 Nov 2021 07:38 AM PST

EIA reports - US reduces stocks and strategic petroleum reserve by 3.2 million barrels and later this week - The reserves are now at the lowest level since June 2003 Yesterday the acting head of the EIA said that any release from the US strategic petroleum reserve (SPR) would have only short-lived impact on oil markets.

DOE crude oil inventories -2.101M versus 1.398M estimate

Posted: 17 Nov 2021 07:30 AM PST

The weekly EIA energy inventory levels - Crude oil -2.101M versus estimate of 1.398M. Last week crude inventories rose 1.0M - Gasoline -0.132M versus estimate of -0.575M. Last week gasoline inventories felt -0.122M The private data released late yesterday showed:

Canada October CPI 4.7% YoY versus 4.7% estimate

Posted: 17 Nov 2021 05:30 AM PST

Canada October 2021 CPI data -  YoY 4.4% - YoY rate equals the highest rate since February 2003 - CPI YoY 4.7% vs 4.7% estimate.  - CPI core YoY 3.8% vs 3.5% estimate.  Last month 3.7%.

US October housing starts 1.520M versus 1.576M estimate

Posted: 17 Nov 2021 05:30 AM PST

US October housing starts and building permits October - Housing starts 1.520M vs 1.576M estimate. Previous month 1.53 million revised from 1.555 million The mixed report with housing starts lower while building permits, and higher.

Key economic events and releases for the day

Posted: 17 Nov 2021 05:07 AM PST

Canada CPI, Fed speak - Canada CPI for October. 8:30 AM ET/1330 GMT.  Estimate 0.7% MoM vs 0.2% last month.  The Core CPI was +0.3% last month. YoY expected at 4.7% versus 4.4% last month.  The core CPI YoY came in at 3.7% with the expectation today at 3.5%

ForexLive European FX news wrap: Dollar rally cools, sterling gains on UK inflation beat

Posted: 17 Nov 2021 04:43 AM PST

Forex news from the European trading session - 17 November 2021 Headlines: Markets: - GBP leads, AUD lags on the day - European equities mixed; S&P 500 futures flat

US MBA mortgage applications w.e. 12 November -2.8% vs +5.5% prior

Posted: 17 Nov 2021 04:00 AM PST

Latest data from the Mortgage Bankers Association for the week ending 12 November 2021 -  +5.5% - Market index 639.9 vs 658.1 prior - Purchase index 282.5 vs 278.4 prior The drop in the past week stems from a sharp fall in refinancing activity, offset slightly by an increase in purchases. The long-term mortgage rate is keeping higher near

Merkel urges those not vaccinated against COVID-19 to get their first shot, saying it is not too late

Posted: 17 Nov 2021 02:27 AM PST

Merkel labels the COVID-19 situation in Germany as dramatic She's not exactly wrong as the 7-day incidence rate has surged up to a whopping 343.9 in the past 24 hours with the number of active COVID-19 cases fast approaching the 500,000 mark across the country.

Greed is outpacing fear, says Goldman Sachs CEO

Posted: 17 Nov 2021 02:15 AM PST

The global economy is facing a 'complicated time', says Goldman Sachs CEO, David Solomon, in an event in Singapore On the issue, he says that the unprecedented levels of stimulus by governments and central banks have led to exuberance in certain markets. Adding that:

Eurozone September construction output +0.9% vs -1.3% m/m prior

Posted: 17 Nov 2021 02:01 AM PST

Latest data released by Eurostat - 17 November 2021 A lagging data point but shows a modest bounce in construction output towards the end of Q3 but comes after a steeper drop in August. Supply and capacity constraints will keep more pressure on this in the months ahead.

Eurozone October final CPI +4.1% vs +4.1% y/y prelim

Posted: 17 Nov 2021 02:00 AM PST

Latest data released by Eurostat - 17 November 2021 The preliminary report can be found . This just reaffirms that euro area inflation is at a 13-year high and will keep the pressure on the ECB in defending their narrative that inflation is still transitory going into next year.

European equities more tepid to kick start the day

Posted: 17 Nov 2021 12:13 AM PST

A bit of a lazy open This mirrors the lack of enthusiasm seen in US futures as well, which are keeping more or less flat across the board as we get things underway. But there has been a consistent theme of things looking rather lackadaisical in Europe only for it to pick up when Wall Street

France's Le Maire: Current inflation is temporary

Posted: 16 Nov 2021 11:34 PM PST

Le Maire reaffirms that inflation is transitory Nothing new from Le Maire as he sides with policymakers on this one. This is a view that he has been reiterating for quite some time since September and .

UK October CPI +4.2% vs +3.9% y/y expected

Posted: 16 Nov 2021 11:00 PM PST

Latest data released by ONS - 17 November 2021 Looking at the details, the largest contribution to the surge in annual inflation for the month of October comes from housing and household services, with further jumps seen in transport and restaurants and hotels.

CAD: Rangebound for now?

Posted: 16 Nov 2021 10:58 PM PST

Canadian dollar  The Canadian dollar is a good example of a currency that has a bullish outlook, but may not be pushing higher in the short term. Why? This is because quite a lot of the good news for CAD has already been priced in. At the last Bank of Canada meeting on Oct 27 the

Brazil says no plans to join OPEC at the moment

Posted: 16 Nov 2021 10:58 PM PST

Brazil's energy minister says they will continue to work with OPEC in a cooperative way instead This has been a constant question since Brazil became a net oil exporter in 2019 but one can understand their stance since they would much rather expand production on their own without any tight restrictions to output.

Trade ideas thread - European session 17 November 2021

Posted: 16 Nov 2021 10:18 PM PST

Daily thread to exchange ideas and to share your thoughts Price is off earlier lows of 1.1265 to stick closer to the figure level now but it is tough to pick at support levels at this stage, though the 61.8 retracement level of the swing move higher from March last year to January this year stands @ 1.1290.

China corporate bond defaults to rise next year but authorities will step in - Moody's

Posted: 16 Nov 2021 09:17 PM PST

Moody's expects refinancing and default risks to remain high for certain property developers through the first half of 2022 "We expect the number of defaulters and amount of defaulted bonds in 2022 to remain low relative to China's total onshore and offshore bonds. Chinese authorities will encourage debt restructuring or liquidation through the courts for distressed

Economic data coming up in the European session

Posted: 16 Nov 2021 09:07 PM PST

UK and Eurozone inflation in focus today There's no stopping the dollar as we see EUR/USD break down to fresh lows below 1.1300 and USD/JPY climbing to its highest levels since March 2017 nearing 115.00.

China is to ease curbs on developer funding

Posted: 16 Nov 2021 08:58 PM PST

Restricitons on funding for China developers will be relaxed in the ABS market ($150bn market)

US and Japan agree to collaborate on labour and trade issues

Posted: 16 Nov 2021 08:52 PM PST

US Trade Representative Tai met with Japan's  Minister of Economy, Trade and Industry  Hagiuda The two countries intend to collaborate on labour and trade issues.

Goldman Sachs EUR/USD forecasts for the quarters ahead (and for some other FX)

Posted: 16 Nov 2021 08:33 PM PST

This via Goldman Sachs, outlooks for G10 currencies against the USD  

ForexLive Asia FX news wrap: USD extends its gains

Posted: 16 Nov 2021 08:00 PM PST

Forex news for Asia trading on Wednesday 17 November 2021 The higher dollar that continued in US time on Tuesday did the same here in Asia Wednesday, with nearly across the board gains. As I was preparing the wrap a renewed bout of currency selling hit, EUR/USD triggering substantial stops just ahead of and then under 1.1300, and cable under 1.3420 (and briefly venturing

EUR/USD accelerating its loss under 1.1300

Posted: 16 Nov 2021 07:42 PM PST

EUR/USD has been heavy this week, Tuesday in the US it lost ground and extended that in Asia. Its falling faster now, hitting some stops below 1.13 figure. 
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