Forexlive RSS Breaking news feed

Forexlive RSS Breaking news feed

ForexLive Americas FX news wrap: Bond yields jump to post-pandemic highs

Posted: 18 Jan 2022 12:58 PM PST

Empire Fed manufacturing -0.7 vs +25.0 expected US NAHB housing market index 83 vs 84 expected Canada November housing starts 236.1K vs 301K prior Markets: Gold down $6 to $1813 US 10-year yields up 10 bps to 1.87% WTI crude oil up $2.03 to $85.85 S&P 500 down 86 poin

US crude oil settles at $85.43 and trades to the highest level since 2014

Posted: 18 Jan 2022 11:49 AM PST

Crude oil trades to the highest level since 2014 The price of WTI crude oil futures are settling at $85.43. That is up $1.61 or 1.92% In post settlement trading, the price as continued the run higher and trades up to $85.81, taking the price up nearly $2 on the day.  The move to the ups

The ultra-bullish case for oil is that US production falters

Posted: 18 Jan 2022 11:26 AM PST

'Shale' is the one word that explains almost everything that's happened in the global oil market in the past decade. It was a revolution in oil production that made the US an energy superpower once again. The ability to horizontally drill and frac oil made for massive finds in the US. Tha

Meme stock mania continues to crumble

Posted: 18 Jan 2022 08:55 AM PST

It might be a long time before we see something as crazy as Gamestop again. For now though, the mania is over. The pandemic trades are all unwinding and so is this one as shares fall another 7.8% today. They've declined to $108 from $154 since the start of the year -- a 29% decline. Since

European equity close: All red to level the week

Posted: 18 Jan 2022 08:37 AM PST

UK FTSE 100 -0.5%German DAX -0.9%French CAC -0.8%Spain IBEX -0.6%Italy MIB -0.6%After yesterday's strong gain, the FTSE 100 is still holding onto a 0.4% gain on the week but the DAX is now lower on the week by 0.5%.

BOJ pushes back against rate hike speculation. What's next for USD/JPY - MUFG

Posted: 18 Jan 2022 07:50 AM PST

   MUFG Research sees scope for further USD/JPY recovery in the near-term. "The yen has weakened overnight following the BoJ's latest policy meeting resulting in USD/JPY briefly moving back above the 115.00-level....The BoJ left their monetar

US 10-year yields now up 8 bps on the day. Here comes 2%.

Posted: 18 Jan 2022 07:37 AM PST

There's nothing standing in the way of US 10-year yields rising to 2% as we blast through resistance today. Earlier, the rise provided a strong kick of support for the US dollar but it's leveled out. Some of that is risk aversion weighing on USD/JPY and the commodity currencies are benefiti

US NAHB housing market index 83 vs 84 expected

Posted: 18 Jan 2022 06:58 AM PST

Prior was 84Single family 90 vs 90 priorProspective buyers 69 vs 70 priorSales over next six months 83 vs 84 priorThis is a negligible miss. Unfortunately, it's the only US data point we have today and the FOMC is now in its blackout period.

US home builders' index coming up next

Posted: 18 Jan 2022 06:48 AM PST

It's a rough day in US equities today but the FX market has been steady so far in New York trade. The highlight on the economic calendar is coming up at the top of the hour: the US home builders' index from the NAHB. It's forecast to remain steady at 84. There will be an interesting push-pull on US

Empire Fed manufacturing -0.7 sv +25.0 expected

Posted: 18 Jan 2022 05:32 AM PST

Prior was +33.5 New orders -5.0 vs +27.1 prior Prices paid +76.7 vs +80.2 prior Employment +16.1 vs +21.4 prior Six-month business conditions +35.1 vs +36.4 prior The details of the report aren't as bad as the headline but it's a worrisome data point.

Canada November housing starts 236.1K vs 301K prior

Posted: 18 Jan 2022 05:12 AM PST

Prior was 301K Urban starts -24% vs +29% prior Multiple units -29% vs +41% prior Single-detached -4% vs +1% prior There was a big jump in the prior month due to several starts in Toronto condo buildings. That's unwound in this report.

ForexLive European FX news wrap: Dollar advances on higher yields, softer equities

Posted: 18 Jan 2022 04:38 AM PST

Headlines:Dollar, yen firms as risk aversion starts to kick inSurging Treasury yields a key focus as the week ramps upUS futures sink lower as tech remains a dragIt is make or break time for oilGermany January ZEW survey current conditions -10.2 vs -7.5 expectedUK December jobless claims change -43.

Japan PM Kishida says wants to impose quasi-state of emergency on some regions from 21 Jan to 13 Feb

Posted: 18 Jan 2022 02:22 AM PST

And will likely cover its neighbouring prefectures as well. Expect an announcement to come some time this week, with reports citing that it could be imminent on Wednesday. From earlier this week:More virus restrictions set to come in JapanMore on Tokyo to enter a 'quasi' state of emergency

Germany January ZEW survey current conditions -10.2 vs -7.5 expected

Posted: 18 Jan 2022 01:59 AM PST

Prior -7.4 Outlook 51.7 vs 32.7 expected Prior 29.9 The current conditions reading slumped to start the new year but the key takeaway for me is the sharp jump in the outlook reading. That reveals that investors are more upbeat about overall conditions in the months ahead, with ZEW not

Dollar, yen firms as risk aversion starts to kick in

Posted: 18 Jan 2022 01:34 AM PST

Of note, USD/JPY has erased its earlier advance from around 114.80 to 114.58 currently. Elsewhere, we are seeing the dollar firm slightly against the commodity currencies in particular with USD/CAD moving up from 1.2500 to 1.2520 levels. Meanwhile, AUD/USD is down 0.3% to 0.7187 and NZD/USD down

US futures sink lower as tech remains a drag

Posted: 18 Jan 2022 01:01 AM PST

That is putting further pressure on equities across the board, with European indices now bordering on 1% declines. Meanwhile, S&P 500 futures are down 0.9% and Dow futures down 0.6%. I warned about this quite a few times already earlier in the session, the latest:"Just be wary in case losses acceler

Dollar holds steady on the session amid higher yields

Posted: 18 Jan 2022 12:15 AM PST

Higher yields is the key theme to take note of for today, as 2-year and 10-year Treasury yields are revisiting pre-pandemic levels. The former is back above 1% while the latter is up to as high as 1.84% earlier in the day, currently seen around 1.82%. That has weighed on the mood in equities and kep

European equities kick start the day on a softer note

Posted: 18 Jan 2022 12:03 AM PST

Eurostoxx -0.5%Germany DAX -0.6%France CAC 40 -0.5%UK FTSE -0.3%Spain IBEX -0.3%Tech stocks are the main laggard, with Europe's tech index leading declines as it is down by over 1%. This mirrors the mood in US futures, with Nasdaq futures down by 0.9%. Meanwhile, S&P 500 futures are down 0.5% and Do

Oil powers through to highest since 2014

Posted: 17 Jan 2022 11:56 PM PST

WTI crude is testing waters of yet another breakout as price climbs up over 2% to $85.60, its highest since October 2014. If buyers can keep a hold above $85 and the October and November 2019 highs, that could set off the next leg higher for oil - one that may be difficult to really pick a top. L

Switzerland December producer and import prices -0.1% vs +0.5% m/m prior

Posted: 17 Jan 2022 11:28 PM PST

Prior +0.5%Producer and import prices +5.1% y/yPrior +5.8%A mild drop in producer and import prices in December, which is the first since March last year. We'll see about the trend in the months ahead to have a sense of whether price pressures are peaking but for now, this isn't signifying much. The

Eurostoxx futures -0.5% in early European trading

Posted: 17 Jan 2022 11:12 PM PST

German DAX futures -0.4%UK FTSE futures -0.2%This reflects the more defensive mood set out by higher yields on the day. The mood also mirrors the softness in US futures, with S&P 500 futures down 0.5%, Nasdaq futures down 0.9%, and Dow futures down 0.2%.Just be wary in case the downturn in tech stoc

UK December jobless claims change -43.3k vs -49.8k prior

Posted: 17 Jan 2022 10:59 PM PST

Prior -49.8k November ILO unemployment rate 4.1% Prior 4.2% November employment change Prior 149k November average weekly earnings +4.2% 3m/y Prior +4.9% November average weekly earnings (ex bonus) +3.8% 3m/y Prior +4.3% The number of payrolled employees

Trade ideas thread - European session 18 January 2022

Posted: 17 Jan 2022 10:27 PM PST

Rising yields is the key theme to take note of on the day and for now, that is leading to more defensive equities sentiment as tech stocks are dragged lower going into European trading.That might lead to broader risk aversion tones later in the day, so it is something worth watching just in case.The

Equities feeling iffy amid rising yields so far today

Posted: 17 Jan 2022 10:07 PM PST

US futures are dragged lower by the surge in Treasury yields today, with 2-year yields and 10-year yields revisiting levels last seen before the pandemic struck. That has proven to be a main drag for tech stocks, with Nasdaq futures down by over 1% currently. S&P 500 futures are also down 0.5% and D

UK labour market report, German ZEW survey on the agenda today

Posted: 17 Jan 2022 10:01 PM PST

The aussie and the kiwi are the laggards so far today as risk sentiment is a little shaky, with equities dragged lower by surging Treasury yields. S&P 500 futures are down 0.5% while Nasdaq futures are down 1.1% ahead of European morning trade.The dollar is keeping steadier, with USD/JPY reversing a
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