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Forexlive RSS Breaking news feed

December seasonals: What will be on the move at year end

Posted: 01 Dec 2021 05:35 AM PST

Season trends in the forex market and elsewhere in December November largely followed the at the start of the month until omicron upended everything. Stocks hit record highs, the yen was soft, oil slipped and the loonie struggled. They were all great trades until the fundamentals (and fear) took over.

Canada October building permits 1.3% versus -1.0% estimate

Posted: 01 Dec 2021 05:32 AM PST

Canada construction data for October 2021 - prior month revised to 4.1% from 4.3% - total building permits C$10.291 billion versus C$10.161 billion last month

ADP November nonfarm employment change 534K vs 525K estimate

Posted: 01 Dec 2021 05:15 AM PST

ADP nonfarm payroll employment change for November 2021 - Prior 571K  (the BLS came in at 531K) revised to 570K - Goods +110K - Services +424K - The nonfarm payroll estimate for Friday is at 570K The data is more or less aligned with the estimates for the BLS employment report on Friday near 570K. Given the Powell testimony yesterday, the the expectations for

ForexLive European FX news wrap: Risk bounces as omicron fears cast aside for now

Posted: 01 Dec 2021 05:07 AM PST

Forex news from the European trading session - 1 December 2021 Headlines: Markets: - AUD leads, CHF lags on the day - European equities higher; S&P 500 futures up 1.3%

US MBA mortgage applications w.e. 26 November -7.2% vs +1.8% prior

Posted: 01 Dec 2021 04:01 AM PST

Latest data from the Mortgage Bankers Association for the week ending 26 November 2021 -  +1.8% A couple of things to note in the report, the first being that the steep fall in mortgage applications is largely driven by a decline in refinancing activity - which offset a decent rise in purchases on the week. That comes

China refutes report that it will ban variable interest entities from listing overseas

Posted: 01 Dec 2021 03:37 AM PST

The China securities regulator labels the report as being "not factual" This comes after an earlier report by Bloomberg, stating that China plans to ban the loophole that is exploited by tech firms for foreign IPOs.

SNB intervention and the EURCHF

Posted: 01 Dec 2021 02:36 AM PST

SNB Leaning on a spear can be a similar analogy to relying on the SNB to intervene in the EURCHF exchange rate. In January 2015 the SNB famously stepped back from defending the 1.2000 peg and the pair fell dramatically.However, despite this unreliable past the SNB still to regularly intervene in the EURCHF pair by buying

The door is open for first Fed rate hike in May - Danske

Posted: 01 Dec 2021 02:33 AM PST

Danske expects the Fed to finish tapering in April now, as compared to June previously, in light of Powell's hawkish shift yesterday The firm is revising its Fed call after Powell's remarks, arguing that the Fed is expected to increase the pace of tapering from $15 billion per month to $25 billion per month so that

OECD cuts US, China, Eurozone growth forecasts for 2021, 2022

Posted: 01 Dec 2021 02:10 AM PST

OECD says that inflation is the main risk to the economic outlook The organisation says that the main risk to the otherwise upbeat global outlook is that if the current inflation spike proves longer and rises more than anticipated.
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