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Eurozone November Sentix investor confidence 18.3 vs 15.5 expected

Posted: 08 Nov 2021 01:30 AM PST

Latest data released by Sentix - 8 November 2021 The current conditions index fell from 26.3 in October to 23.5 in November though, its lowest figure since June but the expectations index moved up from 8.0 to 13.3.

SNB total sight deposits w.e. 5 November CHF 718.4 bn vs CHF 717.1 bn prior

Posted: 08 Nov 2021 01:00 AM PST

Latest data released by the SNB - 8 November 2021 Prior week's release can be found . An increase in overall sight deposits once again, which reaffirms the likelihood that the SNB is intervening in the market to try and curb strength in the franc considering the drop in EUR/CHF below 1.0600.

European equities little changed at the open

Posted: 08 Nov 2021 12:05 AM PST

A more tentative mood to start the day This comes after a solid start to November trading last week, with France's CAC 40 exceeding 7,000 and Germany's DAX holding a push above the 16,000 mark.

Eurostoxx futures +0.1% in early European trading

Posted: 07 Nov 2021 11:15 PM PST

Tepid tones in early trades The overall risk mood is looking rather tentative and cautious, not helped by a drag in tech stocks after more Elon Musk shenanigans over the weekend .

German COVID-19 worries continue as virus incidence rate soars to a record

Posted: 07 Nov 2021 10:24 PM PST

The 7-day incidence rate shoots up to 201.1, surpassing the previous high of 197.6 seen in 22 December 2020 The surge in the 7-day incidence rate (new infections per 100,000 persons over the last seven days) is arguably the key statistic as it reaffirms a worsening trend and one that local authorities are growing increasingly worried

Trade ideas thread - European session 8 November 2021

Posted: 07 Nov 2021 10:14 PM PST

Daily thread to exchange ideas and to share your thoughts The kiwi is leading gains with AUD/NZD tracking back towards the lows for the year at 1.0300 while the yen is mildly softer amid higher bond yields after Friday's plunge.

Economic data coming up in the European session

Posted: 07 Nov 2021 09:24 PM PST

A couple of light releases to kick start the new week Major currencies are keeping steadier for the most part with the yen slightly softer as bond yields are a touch higher on the day after having sunk at the end of last week.

Japan September preliminary leading indicator index 99.7 vs 101.3 prior

Posted: 07 Nov 2021 09:01 PM PST

Latest data released by the Japanese Cabinet Office - 8 November 2021 The index is used as a reference to economic conditions, but most of the indicators used to make up the index has already been released individually - so there isn't much of an impact on this release.

The Suez Canal is hiking rates for 2022

Posted: 07 Nov 2021 08:26 PM PST

Transiting the canal is about to get more expensive for ships. The canal is the fastest shipping route between Asia and Europe, when container ships don't mess up that is! Remember this?

ForexLive Asia FX news wrap: Musk rattles NASDAQ

Posted: 07 Nov 2021 07:56 PM PST

Forex news for Asia trading on Monday 8 November 2021 NASDAQ futures trading on Globex came under some selling pressure upon reopening for the week on the back of a tweet from . Yes, really. Check it out here:

Brexit - watch for developments on trade related to Northern Ireland, Article 16 ahead - EU and UK tensions

Posted: 07 Nov 2021 07:50 PM PST

The 'Northern Ireland' protocol is the part of the Brexit deal agreed to prevent a hard border on the island of Ireland. Tensions are rising between UK and Eu negotiatiors. The latest flare-up is that European Commission (EC) Vice-President Maros Sefcovic has said there will be "serious consequences" if the UK triggers Article 16. Doing so would

JP Morgan has cut its China Q4 economic growth forecast again

Posted: 07 Nov 2021 07:33 PM PST

JPM have downgraded their projections for Q4 GDP in China five times since August. For the year as a whole. expect 7.8% and for 2022 are forecasting just 4.7%.

New Zealand's largest city to have eased lockdown from Wednesday

Posted: 07 Nov 2021 07:16 PM PST

Auckland to open retail stores on Wednesday. Further easing of restrictions expected on November 29 NZD/USD is moving slowly higher to test its post-NFP highs from Friday:

Goldman Sachs are optimistic the worst is over for supply chain logjams

Posted: 07 Nov 2021 06:40 PM PST

Goldman Sachs analysts say they see reasons for optimism regarding the resolution of supply chain bottlenecks GS are not the only analysts to see improvement ahead:

China officials say coal output is at its highest in recent years

Posted: 07 Nov 2021 06:07 PM PST

The National Development and Reform Commission of the People's Republic of China (NDRC) with the statement.  Adds that daily coal output hit 11.93m tonnes at one point, which is a multi-year high

Oil prices higher in Sunday evening (US) futures trade - Aramco price hikes cited

Posted: 07 Nov 2021 05:41 PM PST

ICYMI - Saudi Aramco increased pricing for its key Arab Light grade of crude for Asian customers in December by $1.40 to $2.70.  Price hikes were not unexpected, but the amount was higher than estimates (of between 50 cents and $1 a barrel)

Gold catches a bid, testing US$1820

Posted: 07 Nov 2021 05:10 PM PST

The current favour for gold is on the expectation of higher inflation ahead.  And central banks slow to respond, dithering with their 'transitory' ponderings (not all of 'em of course, thinking about the Fed, BoE, BoC, ECB)

Here's how Elon Musk's TSLA share sale poll is going

Posted: 07 Nov 2021 04:19 PM PST

Over the weekend the CEO of Tesla sent out a poll on Twitter asking if he should sell some of his shares: The above pic is from earlier but the results haven't changed much. As I post 57.9% say yes and the remainder no. 

The Central Committee of China’s ruling Communist Party holds a closed-door meeting this week

Posted: 07 Nov 2021 03:25 PM PST

This plenum is the biggest meeting in China all year, runs Monday to Thursday (November 8 to 11). Major policies will be set for the year ahead (and further), Hong Kong, Taiwan, and relations with the US are likely to be central, as are discussions about leadership positions. In recent months President Xi has led a

EUR/USD - ECB will be slow to hike, keep buying for QE

Posted: 07 Nov 2021 02:50 PM PST

A snippet from Westpac from a much longer report, in summary on what to expect from the European Central Bank and EUR/USD ahead.  WPAC point to inflation forecasts from the ECB that justify little prospect for a rate hike until at least 2024. And its probable that QE asset purchases will be required for the entire

Trade ideas thread - Monday 08 November 2021

Posted: 07 Nov 2021 01:52 PM PST

Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so:         

US Energy Secretary Granholm says Biden considering tapping SPR to lower gasoline prices

Posted: 07 Nov 2021 01:38 PM PST

Granholm says US President Biden is looking at the Strategic Petroleum Reserve release as a way of lowering gas prices.  The forecast referred to is the monthly survey by the U.S. Energy Information Administration that provides projections on consumption, supply and trade and other information about oil & other energy markets.

China trade data over the weekend - exports beat expectations in October, and a record trade surplus

Posted: 07 Nov 2021 01:07 PM PST

China’s exports +27.1% y/y in October Imports in October +20.6% y/y   The trade balance for the month was a surplus of US$84.54 bn, this is fresh record high surplus for a month. 

Reminder - US and Canadian clocks wound back an hour on Sunday end of daylight saving

Posted: 07 Nov 2021 01:06 PM PST

If you are a trader of North American exchanges you may have to adjust your local start/finish times to account for the timezone change.  Spent the weekend printing hours instead of dollars:

Here is what’s on the economic calendar in Asia today - Monday 08 November 2021

Posted: 07 Nov 2021 01:01 PM PST

Barely anything on the data agenda ahead for the session.  2350 GMT from Japan brings FX reserves data for October and also the Bank of Japan 'Summary of Opinions' (this pre-empts the minutes of the meeting by many, many weeks) for the October meeting (ps the minutes for this meeting will be published December 22).
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