Forexlive RSS Breaking news feed

Forexlive RSS Breaking news feed

S&P and Nasdaq index close at session highs.Major indices down for the week.

Posted: 14 Jan 2022 01:12 PM PST

The major US stock indices are closing mixed, but both the NASDAQ and the S&P index erased declines and are closing near the highs for the day. For the week, the major indices are all lower. The Dow closed lower and was down for the second straight dayNASDAQ closes higher despite higher yields with

ForexLive Americas FX news wrap: Big miss on December US retail sales

Posted: 14 Jan 2022 01:09 PM PST

US December retail sales -1.9% vs 0.0% expected January prelim UMich consumer sentiment 68.8 vs 70.0 expected ECB's Lagarde: Monetary accommodation is still needed for inflation to settle at 2% over the medium term Jamie Dimon: There could be six or seven rate hikes this year Fe

Rising yields no obstacle for the risk trade today

Posted: 14 Jan 2022 12:33 PM PST

Treasury yields are at the highs of the day but that's no obstacle for US stocks. The S&P 500 is nearly back to unchanged after falling by more than 40 points a few hours ago. In FX, the dollar remains strong but is giving a bit back in the past hour. AUD/USD has tracekd up to 0.7213 from a low of 0

WTI crude oil closes in on the best levels of 2021

Posted: 14 Jan 2022 12:04 PM PST

Lockdowns in China and thousands of flight cancellations have done nothing to dent buying demand in crude oil since late December. Now crude is threatening last year's high of $85.41 per barrel. It rose as high as $84.22 today and settled up $1.70 to $83.82. It's been on a one-way run since hitting

European equity close: Soft finish to wrap up a mixed week

Posted: 14 Jan 2022 08:44 AM PST

UK FTSE 100 -0.3% German DAX -1.0% French CAC -0.8% Spain IBEX -0.2% Italy MIB -1.1% On the week: UK FTSE 100 +0.8% German DAX -0.5% French CAC -1.1% Spain IBEX +0.5% Italy MIB -0.3% The DAX is an interesting chart:

Rising rates restore the US dollar bid

Posted: 14 Jan 2022 07:36 AM PST

It's been a tough week for the US dollar but it's making up some lost ground today, EUR/USD is at the lows of the day as the pair sags back and begins to chew into Wednesday's breakout. US yields have climbed today with 10s back to 1.75%. One catalyst was JPM CEO Jamie Dimon talking about a

US business inventories for November +1.3% versus 1.3% estimate

Posted: 14 Jan 2022 07:00 AM PST

US inventory/sales ratio is scraping along bottoms US business inventories for November 2021 rose by 1.3% versus 1.3% estimate.  For the year inventories are up 8.7% from November 2020 Prior month business inventories was revised to 1.3% from 1.2% US business sales rose 0.7% ve

January prelim UMich consumer sentiment 68.8 vs 70.0 expected

Posted: 14 Jan 2022 06:59 AM PST

Prior was 70.6 Expectations 65.9 vs 66.5 expected Prior expectations were 68.3 Current conditions 73.2 vs 73.3 expected Prior current conditions were 74.2 1 year inflation 4.9% vs 4.8% prior 5-10 year inflation 3.1% vs 2.9% I don't have much faith in thi

Jamie Dimon: There could be six or seven rate hikes this year

Posted: 14 Jan 2022 06:50 AM PST

JPMorgan is in its post-earnings conference call. Shares have dropped to $159 from $168 on earnings.Dimon has been talking about faster rate hikes for awhile.

US December industrial production -0.1% vs +0.3% expected

Posted: 14 Jan 2022 06:14 AM PST

Prior was +0.6% (revised to +0.7%)Manufacturing output -0.3% vs +0.5% expectedCapacity utilization 76.5% vs 77.0% expectedThis is another December miss and might represent capacity constraints in the month.

Yen continues to firm as AUD/JPY falls to a new low for the week

Posted: 14 Jan 2022 05:59 AM PST

The weak US retail sales number has added to the negative tone in markets. The main beneficiary is the yen, which is at session highs across the board. With the latest move, AUD/JPY is now down 1.2% -- or 99 pips -- and has cut through Monday's low to the worst level since December 21. AUD/

US December import prices -0.2% versus estimate of 0.2%

Posted: 14 Jan 2022 05:29 AM PST

US import prices year on year Import prices prior rose 0.7% month on month, and was 11.7% year on year export prices prior +1.0% revised to +0.8% import prices -0.2%. This was the first monthly decline since the index felt -0.2% in August 2021 import prices year on year

US December retail sales -1.9% vs 0.0% expected

Posted: 14 Jan 2022 05:29 AM PST

Prior was +0.3% (revised to +0.2%) Ex-autos -2.3% vs +0.2% expected Prior ex-autos +0.3% (revised to +0.1%) Control group -3.1% vs +0.1% expected Prior control group -0.1% (revised to -0.5%) There was some considerable hand-wringing about a soft reading in retail

The mood sours ahead of the US retail sales report

Posted: 14 Jan 2022 05:14 AM PST

US December retail sales are due at the bottom of the hour and the market might be sensing bad news. As I flagged earlier this week, some credit card spending data has been showing high risks of a miss on the 0.0% consensus estimate. Bank of America sees -1.3% on the headline, -1.6% ex-autos and -2.

ForexLive European FX news wrap: Yen holds gains, risk tones sluggish

Posted: 14 Jan 2022 04:47 AM PST

Headlines:US futures nudge lower ahead of North American tradingOil stays on course to retest the October, November highsChina said to agree with US to release crude oil reserves around the Lunar New YearBOJ makes first ETF purchase since 1 October 2021 on FridaySpain December final CPI +6.5% vs +6.

US futures nudge lower ahead of North American trading

Posted: 14 Jan 2022 04:36 AM PST

S&P 500 futures -0.2% Nasdaq futures -0.3% Dow futures -0.1% US futures have been largely steady and calmer in European morning trade, but have started to turn lower now. European indices are still reeling from the declines in Wall Street yesterday, so the latest shift in tone isn't g

Oil stays on course to retest the October, November highs

Posted: 14 Jan 2022 03:13 AM PST

Oil looks poised for a fourth straight week of gains and buyers are continuing to show plenty of appetite even as the week winds down. Price is now trading above $83 to its highest since 10 November: The technical break above $80 is still running and that has been a supportive factor to the recen

Eurozone November trade balance -€1.3 billion vs €2.0 billion prior

Posted: 14 Jan 2022 02:00 AM PST

Prior €2.0 billion; revised to €1.8 billion The euro area trade balance shrunk in November to a deficit, with exports seen rising by 3.0% m/m while imports were up 4.5% m/m. In non-seasonally adjusted terms, trade balance was seen at -€8.3 billion on the month.

USD/CAD takes another look below its 200-day moving average

Posted: 14 Jan 2022 01:20 AM PST

The pair threatened to break its 200-day moving average (blue line) in trading yesterday, only to settle just above it into the close after equities slumped - resulting in a less friendly mood for risk trades. Oil also fell as a result and that saw the loonie reverse gains from 1.2453 to back abo

German economy ministry says ongoing supply bottlenecks likely to persist for a while

Posted: 14 Jan 2022 01:12 AM PST

German GDP grew by 2.7% in 2021 Inflation upwards trend to weaken noticeably from January Q4 growth to be subdued due to production difficulties, COVID-19 restrictions It's funny to se how they are that confident on the inflation outlook when they view that supply bottlenecks are goin

European equities stumble at the open in catching up to Wall Street losses

Posted: 14 Jan 2022 12:14 AM PST

Eurostoxx -0.8%Germany DAX -0.7%France CAC 40 -0.9%UK FTSE -0.4%Spain IBEX -0.6%This is largely a catch up to the declines in Wall Street yesterday, whereby European indices closed before all the negative tones kicked in. The overall risk mood on the day is more calm and settled. US futures are up b

Spain December final CPI +6.5% vs +6.7% y/y prelim

Posted: 13 Jan 2022 11:59 PM PST

HICP +6.6% vs +6.7% y/y prelimThe preliminary report can be found here. A slightly lower revised reading but it still reaffirms the fastest annual inflation pace in Spain since 1990. That will just continue to keep the pressure on the ECB into the new year.

France December final HICP +3.4% vs +3.4% y/y prelim

Posted: 13 Jan 2022 11:44 PM PST

CPI +2.8% vs +2.8% y/y prelim The preliminary report can be found here. No change to the initial estimate so this just reaffirms that inflation pressures are still holding high in the French economy through to year-end in 2021. The trend over the next few months will be important to watch in

Eurostoxx futures -0.8% in early European trading

Posted: 13 Jan 2022 11:13 PM PST

German DAX futures -0.5%UK FTSE futures -0.4%The opening drop is set to reflect some catch up play to the plunge in US stocks overnight, coming after the European market close. The changes belie the calmer mood in the market so far today, with US futures seen up around 0.2%. Meanwhile, 10-year Treas

UK November monthly GDP +0.9% vs +0.4% m/m expected

Posted: 13 Jan 2022 11:00 PM PST

Prior +0.1% GDP +1.1% vs +0.8% 3m/3m expected Prior +0.9% That's a solid beat but all this before the resurgence in COVID-19 cases amid the omicron spread. In any case, the improvement sees UK GDP now 0.7% above its pre-pandemic level i.e. February 2020. Looking at the details for Nov
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