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Forexlive RSS Breaking news feed

The mood music begins to shift in equities, again..

Posted: 09 Nov 2021 02:49 AM PST

European indices inch higher while US futures pare early declines  Major European indices are up around 0.1% to 0.2% with the French CAC 40 briefly clipping a record high of 7,067.50 on the session.

Germany November ZEW survey current conditions 12.5 vs 18.0 expected

Posted: 09 Nov 2021 02:00 AM PST

Latest data released by ZEW - 9 November 2021 As for the improvement to the outlook, ZEW notes that market experts are more optimistic about things in the next six months - expecting growth to pick up again and inflation to fall in both Germany and across the Eurozone.

European equities open slightly lower to start the day

Posted: 09 Nov 2021 12:10 AM PST

Slightly softer risk tones at the open This mirrors the sluggish mood in US futures, with S&P 500 futures down 0.2%, Nasdaq futures down 0.1%, and Dow futures down 0.2% on the day thus far.

France September trade balance -€6.78 billion vs -€6.67 billion prior

Posted: 08 Nov 2021 11:45 PM PST

Latest data released by INSEE - 9 November 2021 -  -€6.67 billion Exports fell by 0.9% on the month while imports declined by 0.5% on the month, resulting in a slightly larger trade deficit in September. While proving to be sluggish

Fitch downgrades Kaisa to 'CCC-' from 'CCC+'

Posted: 08 Nov 2021 11:16 PM PST

Fitch the latest to pile on more misery on Kaisa Adding that it believes the recent drop in contracted sales has weakened Kaisa's ability to repay its short-term debt. For some context, the previous downgrade to 'CCC+' was back on 27 October so that shows the extent of the perceived credit deterioration.

Germany September trade balance €13.2 billion vs €13.0 billion prior

Posted: 08 Nov 2021 11:05 PM PST

Latest data released by Destatis - 9 November 2021 German trade conditions have picked up considerably since the depths of the pandemic so even the latest figures above aren't exactly a big knock against the trend.

Eurostoxx futures -0.3% in early European trading

Posted: 08 Nov 2021 11:05 PM PST

Sluggish tones in early trades This reflects the slightly duller mood in US futures as well, with S&P 500 futures down 0.1%, Nasdaq futures down 0.1%, and Dow futures down 0.2%.

Gold: Is now the time for buyers?

Posted: 08 Nov 2021 10:47 PM PST

Gold Gold is a really interesting juncture now both technically and fundamentally speaking. Here are some of the key factors influencing gold right now. . Real yields is the bond yield minus inflation. Falling real yields is good for gold, and rising real yields is bad. T from the Fed means that the recent surge in US

Trade ideas thread - European session 9 November 2021

Posted: 08 Nov 2021 10:24 PM PST

Daily thread to exchange ideas and to share your thoughts But given how things are playing out for now, I don't see much reason to rush into those trades and there is time to reassess and reevaluate the whole situation.

Economic data coming up in the European session

Posted: 08 Nov 2021 09:50 PM PST

A couple of light releases to move things along The renewed bid in bonds (lower yields) is perhaps the thing that stands out so far on the day, with Treasury yields sliding ahead of European trading and that is putting a notable drag on yen pairs with USD/JPY down 0.4% to 112.75.

Risk sentiment a fair bit sluggish ahead of European morning trade

Posted: 08 Nov 2021 09:32 PM PST

US futures lower after a record-setting start to the week That said, we've seen this story before, have we not? US futures were also down early yesterday only to pick up going into the North American session so it is a bit premature to make a call on the overall risk mood in trading today.

Japan October economy watchers survey current situation 55.5 vs 42.1 prior

Posted: 08 Nov 2021 09:00 PM PST

Latest data released by the Japanese Cabinet Office - 9 November 2021 That's a solid jump in the headline reading, suggesting a further pickup in economic activity as the virus situation turns for the better in Japan. The reading is a survey on workers to measure up consumer spending and current economic conditions.

ForexLive Asia FX news wrap: Bitcoin and Ethereum hit record highs

Posted: 08 Nov 2021 07:58 PM PST

Forex news for Asia trading on Tuesday 9 November 2021 While the headline to this post refers to moves earlier in the session, BTC/USD is still on the move as I post, extending above US$68K. The news has been supportive of crypto in past days and its been relentless.

Yen crosses slipping

Posted: 08 Nov 2021 07:33 PM PST

USD/JPY has fallen back under 113, dragging yen crosses lower. AUD/JPY notably, AUD/USD had fallen earlier in the session and is near its lows as I post. 

The Wall Street Journal reports on Evergrande's sale of tech holding to raise more cash

Posted: 08 Nov 2021 06:41 PM PST

Evergrande 's liquidity issues were merely the tip of the iceberg with other property sector firms' problems surfacing in recent weeks. Still, EV is a biggie, and whatever they can do to raise cash is making news. 

Japan giant SoftBank took a US$54bn hit on China's tech crackdown

Posted: 08 Nov 2021 06:30 PM PST

The Wall Street Journal with the report on the loss for Japanese tech investor SoftBank   Chief executive Masayoshi Son: (may be gated)  

Japan's PM Kishida says wants to compile a further economic stimulus package on November 19

Posted: 08 Nov 2021 06:05 PM PST

And an extra budget at the end of November Info comes from Japanese media, Kyodo, via Reuters headlines.  

Goldman Sachs is buying Chinese real estate debt

Posted: 08 Nov 2021 05:46 PM PST

with the info that Goldman Sachs Asset Management is buying China property debt. More at that link above, Bloomberg may be gated.   

More on Chinese authorities meeting with property developers, banks

Posted: 08 Nov 2021 05:31 PM PST

I posted earlier on Reuters citing an unnamed source for government meetings with key players in China's property sector. - property developers and banks - meeting was held on Monday Participants at the meeting included (according the Reuters source)

Chinese property developer Kaisa says it needs external help to pay creditors

Posted: 08 Nov 2021 05:16 PM PST

The firms says it need assistance to pay investors, workers and suppliers. More related to this earlier: Info via Reuters citing an unnamed source.

China's NDRC has held meetings with banks and property developers

Posted: 08 Nov 2021 04:48 PM PST

China's state planner is continuing efforts to stem property sector turmoil Reuters with the info citing an unnamed source

Japan real wages have fallen for the first time in 3 months

Posted: 08 Nov 2021 03:40 PM PST

Wages data from Japan, for September 2021. Inflation-adjusted real wages fell 0.6% y/y in September  The labour ministry said the decline in Sepo was due to rising inflation, the ministry uses a different CPI measure to that used by the BOJ. The ministry's CPI gauge was +0.9% year-on-year in September (fastest since December 2019)

Morgan Stanley says the liquidity environment is shifting - extreme moves in yield curves

Posted: 08 Nov 2021 03:19 PM PST

A note from MS (comes via ) analysts on volatility being crushed in equities but running wild in bonds: DJ / Market Watch Not anything of a surprise given the swings we have seen.  More at that link above. 

ICYMI - Australian business confidence data was out earlier

Posted: 08 Nov 2021 03:06 PM PST

Greg was all over the National Australia Bank Business Survey results: Check out the post showing both confidence and conditions higher on the month. The Australian dollar has not done much since the release:

Australia weekly consumer confidence 109.0 (prior 108.4)

Posted: 08 Nov 2021 02:31 PM PST

ANZ/Roy Morgan survey shows consumer sentiment up 0.6% on the week.  In their commentary ANZ highlight the 'inflation expectations' part of the survey of consumers. 
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