Forexlive RSS Breaking news feed

Forexlive RSS Breaking news feed

Dollar to strengthen post-Fed?

Posted: 03 Nov 2021 02:13 AM PDT

That seems to be the consensus going into today's key risk event A look at some of the recent takes on the greenback ahead of the FOMC meeting: I'd argue that there isn't going to be a straightforward reaction in all of this as the market has already began to price in a rate hike in June

Bond yields continue to pull back ahead of the Fed later today

Posted: 03 Nov 2021 01:38 AM PDT

Some positions taken off the table ahead of the FOMC meeting perhaps? I'd argue that to be the case but we're seeing a uniform move across global bond markets and that could be suggesting that traders got a little too carried away in squeezing yields beyond what they may expect to be, considering the inflation debate.

European equities a touch lower at the open today

Posted: 03 Nov 2021 01:09 AM PDT

Stocks in a lazy mood as the market waits on the Fed There isn't much here for traders to really work with in terms of risk sentiment as equities stay more guarded and cautious ahead of the FOMC meeting later.

PBOC says that 140 million people have opened accounts for digital yuan

Posted: 03 Nov 2021 12:53 AM PDT

China is pushing the digital yuan as the main alternative to cryptocurrencies The figure may seem little but is significantly higher from the roughly 20 million wallets reported back in June . The digital yuan was rolled out to users as part of government-led trials since last year and with wider adoption anticipated over time.

Steady as she goes as we get things underway in Europe

Posted: 03 Nov 2021 12:24 AM PDT

FX sees little change overall The aussie and kiwi are holding light gains but they aren't anything that stands out all too much as we look to get things going on the session.

Eurostoxx futures -0.1% in early European trading

Posted: 03 Nov 2021 12:05 AM PDT

Tepid tones in early trades This mirrors the more lackadaisical mood in US futures as well, with S&P 500 futures and Dow futures down 0.1% while Nasdaq futures are flat. Equities are not showing much poise and there might not be much direction until we get to the Fed later today.

UK October Nationwide house prices +0.7% vs +0.4% m/m expected

Posted: 03 Nov 2021 12:01 AM PDT

Latest data released by UK Nationwide Building Society - 3 November 2021 Of note, the average property price is seen up by more than £30k since the pandemic struck and the price of a typical UK home tops quarter of million pounds for first time.

Tricky day on Thursday for the BoE

Posted: 02 Nov 2021 11:35 PM PDT

Are the BoE trapped? Sonia futures say, 'yes'. The current expectations of GBP future markets are that the Bank of England will hike rates four times next year. That seems very steep.

Trade ideas thread - European session 3 November 2021

Posted: 02 Nov 2021 11:13 PM PDT

Daily thread to exchange ideas and to share your thoughts That will arguably set the tone for what is to come next in markets but as much as the Fed may want to shake up the recent narrative, I reckon we'll see a continuation of things in the past week or so - especially in bonds.

Economic data coming up in the European session

Posted: 02 Nov 2021 10:01 PM PDT

A couple of light releases awaiting the Fed Major currencies are keeping quieter so far on the day with narrow ranges prevailing as we look towards European trading. EUR/USD is sitting just below 1.1600 within a 11 pips range with sellers keeping a more bearish near-term bias still.

Welcome to Fed day

Posted: 02 Nov 2021 09:28 PM PDT

The FOMC meeting is the key focus in the day ahead As such, one can expect quieter tones to prevail in the run up to that and in the European morning session ahead. As for what to expect from the Fed, I outlined some thoughts earlier in the week as per below:

ForexLive Asia FX news wrap: Hugely strong New Zealand jobs report

Posted: 02 Nov 2021 08:44 PM PDT

Forex news for Asia trading on Wednesday 3 November 2021 A Japanese holiday and the approaching US Fed's Federal Open Market Committee combined to dampen FX movement during the session in Asia.

Magnitude 5.9 earthquake Valparaiso, Chile

Posted: 02 Nov 2021 08:26 PM PDT

111 km NE of Santiago, Chile  No further details at this stage. No tsunami alert issued that I have seen yet.  Map via EMSC

Oil - OPEC+ is expected to ignore US & other calls for increased output

Posted: 02 Nov 2021 08:22 PM PDT

Oil analysts at Energy Intel say "Opec-Plus Seen Shrugging Off Pleas for Price Relief" The group meets November 4 and is widely expected to leave the planned 400K barrels output boost at that level, no more. 

Hong Kong airport to segregate China flights to help counter COVID-19 spread

Posted: 02 Nov 2021 07:34 PM PDT

HK airport to segregate & 'ringfence' China flights - separating from travellers from the rest of the world. South China Morning Post with the report. The HK-China border is reopening for two-way travel with extra safeguards being implemented in light of the recent rise in virus cases in China. 

Heads up for Chinese President Xi Jinping to speak Thursday, November 4

Posted: 02 Nov 2021 07:21 PM PDT

The news out of China has been like drinking from a firehose: And no doubt plenty I've missed.  Tune in tomorrow for China's President Xi Jinping to deliver a keynote speech at the opening of the 3rd China International Import Expo (CIIE) via video link

China Caixin/Markit PMI for October, Services 53.8 (expected 50.7)

Posted: 02 Nov 2021 06:45 PM PDT

This is the privately surveyed PMI from China.  Services 53.8 and a solid beat indeed, also above the September readingComposite 51.5A snippet from the Markit report:

China coronavirus new cases rise in past 24 hours

Posted: 02 Nov 2021 06:01 PM PDT

China is still taking a 'zero' tolerance approach to new cases, moving quickly with restrictions to stem outbreaks. This from earlier: The most recent cases count is on the rise.

South Korean PM says cannot afford another round of universal COVID-19 relief grants

Posted: 02 Nov 2021 05:52 PM PDT

South Korea's Prime Minister Kim Boo-kyum speaking in a radio interview on proposals for further coronavirus relief payments: Info comes via local SK media,

Australia Building Approvals for September -4.3% m/m (expected -2.0%)

Posted: 02 Nov 2021 05:30 PM PDT

Australian Building Approvals for September % m/m  - expected -2.0% m/m, prior 7.6% (revised from 6.8%) Private sector houses approved fell 16.0% m/m, & -2.7% y/y

Latest Reuters poll show analysts still looking for higher currencies against the USD

Posted: 02 Nov 2021 05:18 PM PDT

Reuters poll of nearly 70 foreign exchange analysts showed continuing views that nearly all major currencies will be trading higher than current levels in the next 12 months  Reuters add:

Its a Japan holiday today, Wednesday 3 November 2021

Posted: 02 Nov 2021 04:19 PM PDT

I meant to post this earlier, catching up now. Japanese holiday today, Culture Day. This will thin out FX trade somewhat but still active are/will be:  

China coronavirus - around half the flights to and from Beijing were cancelled Tuesday

Posted: 02 Nov 2021 04:08 PM PDT

'Zero Covid' policy persists in China - this report via CNBC on the outbreak in Beijing: The report is   here for more. The mid-year outbreak of the virus in China resulted in widespread disruption to the economy, if the 'zero' policy can stamp out the spread quickly these will be limited this time around but the risk

Australia - Markit Services 51.8 and Composite 52.1 PMI for October (final)

Posted: 02 Nov 2021 03:02 PM PDT

Australian PMIs from Markit

New Zealand Q3 Unemployment rate 3.4% (expected 3.9%, prior 4.0%)

Posted: 02 Nov 2021 02:45 PM PDT

New Zealand jobs report for Q3 a huge beat NZD adding on a few points on this strong data.   
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