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Forexlive Asia-Pacific FX news wrap for Friday 24 December 2021

Posted: 23 Dec 2021 06:21 PM PST

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Japan approves a record US$940 billion budget for the next fiscal year

Posted: 23 Dec 2021 06:16 PM PST

New Prime Minister Kishida said he'd be improving Japan's stretched finances. But, not yet it seems.  Reuters have a summary of the main planks of next year's budget here at the link. 

England has vaccination appointments available on Christmas Day

Posted: 23 Dec 2021 04:45 PM PST

NHS England has said there are 200,000 vaccination appointments available on Christmas Eve Christmas Day and Boxing Day Staff and volunteers will work in some locations on 25 and 26 December. The NHS is seeking to meet Boris Johnson's target of giving everybody eligible a boost

Japan Services Producer Price Index (for November)

Posted: 23 Dec 2021 04:03 PM PST

Comes in at 1.1% y/y  expected 1.3% y/y, prior 1.0% The Corporate Services Price Index (CSPI) indicates the change in the selling prices of services purchased by companies in Japan. Graph of the index from the Bank of Japan (its a BOJ-published statistic):

Japan CPI data for November: Headline inflation 0.6% y/y (expected 0.6%)

Posted: 23 Dec 2021 03:58 PM PST

National CPI 0.6% y/y, expected 0.6%, prior was 0.1% National CPI excluding Fresh Food 0.5% y/y, expected 0.4%, prior was 0.1% National CPI excluding Food, Energy -0.6% y/y, expected -0.6%, prior was -0.7%this measure of inflation is closest to US core CPI As always, core inflation is way below th

Trade ideas thread - Friday 24 December 2021

Posted: 23 Dec 2021 01:45 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: (ps. I will not be around much at all for the session today ... and pretty much the same for t

Here is what’s on the economic calendar in Asia today - Friday 24 December 2021

Posted: 23 Dec 2021 01:33 PM PST

I had these for Thursday but , nope - coming up Friday Asia time. 2330 GMT Japan CPI data for November ....................... ADDED - my bad, Friday Japan time for this, not ThursdayNational CPI % y/y, expected 0.6%, prior was 0.1%National CPI excluding Fresh Food % y/y, expected 0.4%, prior was 0.

ForexLive Americas FX news wrap: The holiday cheer comes early

Posted: 23 Dec 2021 01:09 PM PST

US November durable goods orders (advanced) 2.5% vs 1.6% estimate US November PCE core inflation +4.7% vs +4.5% expected Baker Hughes US oil rig count 480 vs 475 prior US November new home sales 0.744M vs 0.777M estimate UMich final October US consumer sentiment final 70.6

Bitcoin bulls get a gift in their stockings with a rally above $51,000

Posted: 23 Dec 2021 12:52 PM PST

US equities are closed tomorrow through Monday but bitcoin trading will continue non-stop. Over the years, we've seen some big moves in both directions around holidays so today's pop above $51,000 may only be a sign of what's to come. For now, the 4% climb helps to emphasize a potential bottom near

Baker Hughes US oil rig count 480 vs 475 prior

Posted: 23 Dec 2021 10:07 AM PST

Total rigs 586 vs 579 priorGas rigs +1US drillers will need to really step up the pace of drilling if they want to keep production flat. The inventory of drilled up uncompleted wells is rapidly depleting.WTI is finishing the week strong as it clears the December highs and rises 91-cents to $73.68.

Omicron hospitalization risk 50-70% lower than delta - UK govt

Posted: 23 Dec 2021 09:09 AM PST

Increased transmission of omicron could still lead to significant numbers needing hospital treatmentProtection against omicron starts to wane 10 weeks after booster9.5% of people with omicron had covid diagnosis before but that's likely to be a substantial underestimationThere's still a decent amoun

US November new home sales 0.744M vs 0.777M estimate

Posted: 23 Dec 2021 07:00 AM PST

New home sales 0.744M in November US November new home sales 0.774M versus 0.777M estimate The new home sales jumped 12.4% above the October revised level of 0.662M new home sales year on year is down -14% vs November 2020 (865,000) new houses for sale 402,000 media

UMich final October US consumer sentiment final 70.6 vs 70.4 expected

Posted: 23 Dec 2021 06:59 AM PST

Final Oct was 67.4 Prelim was70.4 Current conditions 74.2 vs 74.6 prelim Expectations 68.3 vs 67.8 prelim 1 year inflation 4.8% vs 4.9% prelim 5-10 year inflation 2.9% vs 3.0% prelim The revisions in this report are rarely a market mover. This fits in with t

European gas prices fall 20% but industry warns it's at a breaking point

Posted: 23 Dec 2021 06:56 AM PST

Europe has gotten a bit of a reprieve today with Dutch TTF gas prices down 20% to $138. A look at the chart shows that even a 20% is only a dent. Gas is selling for $3.71 in this US. This is roughly equivalent to $46. Power prices have also come back from the extremes but that likely refl

US dollar edges higher after hot inflation data

Posted: 23 Dec 2021 05:53 AM PST

The Fed's preferred measure of inflation is not telling policymakers what they want to hear. PCE inflation rose 5.7% in November year-over-year, up from 5.1% in October. Stripping out food and energy it rose 4.7% compared to 4.2% previously. Both numbers were above expectations. The sped-up taper ha

Initial jobless claims 205K versus 205K estimate

Posted: 23 Dec 2021 05:36 AM PST

Initial jobs claims come in as expected Initial jobless claims 205K versus 205K estimate four week moving average 206.25K versus 203.5K last week prior week revised to 205K from 206K previously reported continuing claims 1.859 million versus 1.82 million estimateThe con

Canada October GDP +0.8% m/m vs +0.8% expected

Posted: 23 Dec 2021 05:33 AM PST

Prior was +0.1% (revised to +0.2%) November flash estimate +0.3% m/m Goods producing +1.6% Services producing +0.6% 17 of 20 industries posted gains in October Construction +1.6% led by residential construction That's a strong start to Q4 but virus curbs will be a damper l

US November durable goods orders (advanced) 2.5% vs 1.6% estimate

Posted: 23 Dec 2021 05:33 AM PST

Durable goods for November 2021 Prior -0.4% (revised from -0.5%) durable goods increase by 2.5% which was greater than expected. The durable goods have been up six the last seven months. October was revised to 0.1% Durables ex transportation 0.8% versus 0.3% last month 

US November PCE core inflation +4.7% vs +4.5% expected

Posted: 23 Dec 2021 05:29 AM PST

Prior was +4.1% PCE core MoM +0.5% vs +0.4% expected Prior MoM +0.4% Headline PCE +5.7% vs +5.0% prior Deflator MoM +0.6% vs +0.6% prior Inflation continued to accelerate in November. Headline pricing will get a reprieve in December from lower energy costs but that m

Big data slate coming up in North American trading

Posted: 23 Dec 2021 05:20 AM PST

Coming up at the bottom of the hour we get: US PCE US durable goods orders Initial jobless claims Canadian November GDP All eyes will be on PCE inflation first but the rest of the slate is also potentially market moving. For more, see the economic calendar.

Equities keep the pre-Christmas grind higher going

Posted: 23 Dec 2021 03:05 AM PST

DAX +0.5%CAC 40 +0.3%FTSE 100 +0.3%S&P 500 futures +0.2%Nasdaq futures +0.2%Dow futures +0.3%It's all good in the hood as equities continue to grind higher this week. The market seems content to stick with omicron optimism and there does not seem to be much change of heart before the holidays. The n

Australia's NSW reintroduces mask mandate, density limits as omicron spreads

Posted: 23 Dec 2021 01:38 AM PST

This comes as 5,715  COVID-19 cases were reported today, with almost 70% coming from the Sydney metropolitan area. NSW chief health officer, Dr Kerry Chant, said that about 80% of new infections in the state were the omicron variant. Meanwhile, state premier, Dominic Perrottet, said that the "key in

Three doses of Sinovac vaccine ineffective in dealing with omicron

Posted: 23 Dec 2021 01:29 AM PST

A laboratory study is reported to have found that two doses and a booster of Sinovac's COVID-19 vaccine did not produce sufficient levels of neutralising antibodies to protect against the omicron variant.As such, the research suggests people who have been vaccinated with Sinovac's doses to seek out

Spain Q3 final GDP +2.6% vs +2.0% q/q prelim

Posted: 22 Dec 2021 11:59 PM PST

GDP +3.4% vs +2.7% y/y prelimThe preliminary report can be found here. This reaffirms a more modest recovery in the Spanish economy in the last quarter, with peak conditions in the summer helping. But amid the latest twists and turns, expect things in Q4 to be more subdued.

AstraZeneca says third vaccine dose was effective against omicron in study

Posted: 22 Dec 2021 11:46 PM PST

The firm is out saying that its COVID-19 vaccine was effective against omicron following a third dose in a study. The details revealed neutralising levels similar to those against delta after a regular two-dose course.I guess that just adds the omicron optimism as of late, or at least it won't detra
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