Forexlive RSS Breaking news feed

Forexlive RSS Breaking news feed

Two Democratic senators come out against Powell on the back of climate change

Posted: 19 Nov 2021 07:18 AM PST

Democratic Sen. Jeff Merkley Sen. Jeff Merkley and Sheldon Whitehouse are against the current Fed chair.  Virginia Sen. manMancin spoke positively of Powell yesterday, but said today that he wants  another meeting with Brainard.  

France's Macron: Britain playing with France's nerves over fishing licenses

Posted: 19 Nov 2021 07:04 AM PST

Tensions remain France's Macron:

US House of Representatives passes the Build Back Better act

Posted: 19 Nov 2021 06:43 AM PST

The BBB act heads to the Senate where passing is still up in the air The House of representatives has passed The Build Back Better act. That is as expected. The act now go to the Senate where moderate Democratic senators Manchin and to a lesser extent Sinema hold the vote in their hands.  Senators can change the bill.

Canada September retail sales -0.6% versus -1.7% estimate

Posted: 19 Nov 2021 05:30 AM PST

Canadian retail sales data force timer 2021 For the full report CLICK HERE

Canada October new home price index +0.9% MoM versus +0.5% estimate. Last month +0.4%

Posted: 19 Nov 2021 05:30 AM PST

Canada October 2021 new home price index - +0.4% - new home price index 0.9% versus 0.5% estimate - prices were up in 15 of the 27 metropolitan areas, unchanged and 10 and declines in two For the full report,  

What is on the releases and events schedule today

Posted: 19 Nov 2021 05:16 AM PST

Canada retail sales highlights a light economic release calendar Today, there are no key US economic releases on the schedule (the weekly Baker Hughes rig count will be released at 2 PM ET), however, there is some Fed speakers along with the vote on the Build Back Better act. Fed speak has the following Fed officials scheduled:ECB Lagarde will speak at 1:45 PM/1845 GMT

ForexLive European FX news wrap: Yen, dollar gain as pandemic fears resurface

Posted: 19 Nov 2021 04:52 AM PST

Forex news from the European trading session - 19 November 2021 Headlines: Markets: - JPY leads, EUR lags on the day - European equities lower; S&P 500 futures down 0.2%

Stocks regain a bit of poise ahead of North American trading

Posted: 19 Nov 2021 03:04 AM PST

Nasdaq futures hit record highs The earlier declines from the lockdown fears in Europe are being pared a little with the Stoxx 600 index now seen up by 0.1% again. There is still plenty of push and pull ongoing but pandemic fears in general are bringing back one of the market's favourite bets last year i.e.

European indices pare early gains, bond yields retreat as safety bets emerge

Posted: 19 Nov 2021 01:53 AM PST

US futures also trim gains from earlier in the day The Stoxx 600 has erased gains and we're even seeing the likes of the DAX fall by 0.1% on teh day now as Austria's lockdown and German health minister Spahn refusing to rule out a return to lockdown in Germany weigh on sentiment in markets.

Austria confirms to enter into nationwide lockdown starting from Monday

Posted: 19 Nov 2021 01:31 AM PST

Austria to also impose compulsory vaccinations starting from February The lockdown will be at least for 10 days and restaurants, pubs, and all non-essential ships will be closed with people told to remain at home.

Fitch downgrades yet another Chinese property developer

Posted: 19 Nov 2021 01:28 AM PST

Aoyuan Group downgraded by Fitch yet again after having been downgraded once already on 3 November On the downgrade, Fitch says that it reflects Aoyuan's "decreasing access to funding amid refinancing needs in the coming 12 months, in particular the USD688 million public senior notes due in January 2022."

German health minister Spahn: We are in a national emergency

Posted: 19 Nov 2021 01:11 AM PST

Spahn says vaccinations won't cut it at this point to stop the COVID-19 spread - The COVID-19 situation is more serious than last week - Vaccinations won't be enough Those are some serious remarks put forward by Spahn and keep in mind that if restrictions are to return, that will in turn weigh on the economy even more

Eurozone September current account balance €18.7 billion vs €13.4 billion prior

Posted: 19 Nov 2021 01:10 AM PST

Latest data released by the ECB - 19 November 2021 The current account surplus grew slightly compared to August with surpluses recorded for goods (€16 billion), services (€10 billion) and primary income (€7 billion). These were partly offset by a deficit for secondary income (€15 billion).

Japan Cabinet approves the ¥55.7 trillion fiscal stimulus package

Posted: 19 Nov 2021 12:50 AM PST

A record-breaking stimulus injection for Japan It is expected that the stimulus package will boost Japan GDP by around 5.6% with most of that effect taking place in Q1 2022 and the early part of the next fiscal year.

China premier Li Keqiang: China economy is facing new downward pressure

Posted: 19 Nov 2021 12:14 AM PST

Remarks by China premier, Li Keqiang - Domestic and foreign situation still complex and severe - Will take measures to reduce pressure of high commodity prices He has been repeating the above comments for quite a while now, so there isn't much of a big change to policy stance by local authorities in that respect.

European equities open higher to kick start the day

Posted: 19 Nov 2021 12:07 AM PST

A more positive tone in the equities space This mirrors the more positive mood seen in US futures as well, with S&P 500 futures and Dow futures both up 0.4% while Nasdaq futures are up 0.5% on the day.

Silver's head and shoulders pattern worth a look

Posted: 18 Nov 2021 11:27 PM PST

Silver The potential for gold upside has been well discussed over recent days, but silver is also worth a look as there are some easy technicals to measure risk with and a similar fundamental story.

IMF calls on China to address financial risks in 'clear and coordinated' fashion

Posted: 18 Nov 2021 11:24 PM PST

IMF remarks on the Chinese economy after a consultation - China's fiscal policy should temporarily shift to neutral stance - Monetary policy should be accommodative Those are all fair points involving the economic situation in China but again, it must be pointed out that the priorities of the country have largely shifted.

Japan PM Kishida: Will employ various means to fund stimulus including issuing new debt

Posted: 18 Nov 2021 11:16 PM PST

Kishida remarks after unveiling a record-breaking stimulus worth approximately ¥56 trillion ($490 billion) Just the usual stuff from Kishida and nothing too ground-breaking. But it will be interesting to see how the latest package will be able to translate to the economic recovery process and if they are able to get all of this approved quickly

Eurostoxx futures +0.4% in early European trading

Posted: 18 Nov 2021 11:09 PM PST

Positive vibes in early trades After the light losses yesterday, European indices are looking to bounce back amid a more optimistic backdrop laid out by US stocks overnight and futures today.

Germany October PPI +3.8% vs +1.9% m/m expected

Posted: 18 Nov 2021 11:00 PM PST

Latest data released by Destatis - 19 November 2021 - Prior +2.3% - PPI +18.4% y/y - Prior +14.2% That's a strong beat in producer prices and reaffirms the trend of surging price/cost pressures in the German economy. This eventually feeds into consumer inflation so expect the strong figures to continue through to year-end on that front.

UK October retail sales +0.8% vs +0.5% m/m expected

Posted: 18 Nov 2021 11:00 PM PST

Latest data released by ONS - 19 November 2021 - Prior -0.2%; revised to 0.0% - Retail sales -1.3% vs -2.0% y/y expected - Prior -1.3%; revised to -0.6% A solid report with upward revisions in September to boot, as non-food stores sales carried with a growth of 4.2% in the month of October. Looking at the details, some

Trade ideas thread - European session 19 November 2021

Posted: 18 Nov 2021 10:09 PM PST

Daily thread to exchange ideas and to share your thoughts EUR/USD is toying around with its 100-hour moving average @ 1.1357 so at least buyers are attempting to stop the bleeding though I'd be more convinced if price can get above 1.1400 to at least establish a base after the drop since last week.

Stock futures buoyed ahead of European trading

Posted: 18 Nov 2021 09:55 PM PST

The risk mood keeps in a better spot on the day European futures are slightly higher in early morning trade, matching the gains across the board for US futures as we look towards the session ahead. On the latter, S&P 500 futures are up 0.4%, Nasdaq futures up 0.5%, and Dow futures up 0.3%.

No vote on Biden's bill tonight, House to reconvene tomorrow at 8am local time

Posted: 18 Nov 2021 09:31 PM PST

The vote on the bill has been postponed There was hope and talk that we would eventually get a vote in the late hours of Thursday but it doesn't look like it. Chances of the bill passing are sort of on the fence with  (Democrats can only afford to lose a few votes as such).
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