Forexlive RSS Breaking news feed

Forexlive RSS Breaking news feed

Macron: If there is an attack on Ukraine, we will reply. The price will be high.

Posted: 25 Jan 2022 09:22 AM PST

France President Macron is on the wires saying: we are preparing reaction in case of Russian aggression of Ukraine if there is an attack, we will reply. The price will be highRussia is becoming a force for destabilization. The geopolitical risks from Russian aggression as certainly been a

US Commerce Dept looks at what is behind the chip shortage

Posted: 25 Jan 2022 08:05 AM PST

An investigation by the US Commerce Department pointed to surging demand as the primary reason behind the shortage of computer chips. It said demand in 2021 was as much as 17% higher than 2019. Within the industry, the median inventory of semiconductors has fallen from 40 days to less than

Risk trades stage a stand

Posted: 25 Jan 2022 07:35 AM PST

The bad news is that stock are still in a tough spot; the good news is that they bounced well ahead of yesterday's lows. The S&P 500 is down 76 points to 4334 after falling as low as 4287. Note the series of higher lows on the 10 minute chart, which is something to manage risk around.

Richmond Fed manufacturing index for January 8 vs 14 estimate

Posted: 25 Jan 2022 07:00 AM PST

Richmond Fed manufacturing index for January 2021 Richmond Fed Manufacturing index for January Manufacturing index 8 vs 14 estimate and 16 last month shipments increase slightly to 14 in January from 12 last month new orders 8 versus 17 last month employment 4 versus

US January consumer confidence 113.8 vs 111.8 expected

Posted: 25 Jan 2022 06:58 AM PST

Prior was 115.8 Present situation 148.2 vs 144.1 prior Expectations  90.8 versus 96.9 prior (revised to 96.9) The proportion of consumers planning to purchase homes, automobiles, and major appliances over the next six months all increased11.3% of consumers said job

Gold pops as sentiment sours

Posted: 25 Jan 2022 06:52 AM PST

This isn't looking good. The S&P 500 is down 2.2% with sentiment quickly deteriorating. The IMF forecasts underscore how far the outlook has deteriorated in the past few months between omicron and inflation. Gold is a winner today, flexing its muscles as a safe haven. it's up $8 to $1850 and trading

US stocks tumble at the open

Posted: 25 Jan 2022 06:36 AM PST

The major US stock indices have tumbles lower at the US open. The major indices stages a dramatic comeback yesterday, closing higher on the day, but sellers are returning today. Microsoft earnings after the close will be eyed and a key barometer (perhaps).A snapshot of the market is showing:Dow down

US in discussions with major natural gas producers on surging deliveries to Europe

Posted: 25 Jan 2022 06:34 AM PST

Reuters, citing a US official, said the US is working on a plan to supply Europe with natural gas in the event that Russia cuts off supplies or sanctions make it impossible to supply gas. Engaging with LNG suppliers to manage storage and diversion to Europe if necessary Working with countri

US equity futures point to another rough ride

Posted: 25 Jan 2022 06:21 AM PST

The incredible comeback in US equities yesterday will need something of a repeat for another positive close. S&P 500 futures are down 65 points just ahead of the open. Dow futures are down 262 points and once again the Nasdaq is lagging, with futures pointing to a 287 point decline. Yesterday's low

IMF cuts US growth in 2022 by 1.2%

Posted: 25 Jan 2022 06:17 AM PST

The IMF is out with new growth updatesCuts US 2022 growth by 1.2% to 4% from 5.2% previous. Growth was 5.6% in 2021 Sees US growth of 2.6% in 2023IMF reduction in US reflects new assumptions minus Build Back Better legislation, earlier withdrawal of monetary accomodation and continued supply chain s

US S&P/Case Shiller home price index for November 18.3% versus 17.9% estimate

Posted: 25 Jan 2022 05:59 AM PST

S&P Case Schillier home price index for November The S&P/Case Shiller home price index for November 2021: Prior month +18.4% YoY.  +0.9% MoM YoY index for 20 largest cities 18.3% MoM index (SA) 1.2% The National price index covering all nine U.S. Census divisions report

How have markets fared in the aftermath of huge reversals like yesterday?

Posted: 25 Jan 2022 05:57 AM PST

The natural inclination after a day like yesterday was to view it as a capitulation and washout. That's often the sign of a bottom. I'm sympathetic to that view because I don't see anything in the macro view that warrants further equity selling, though that could change if omicron hits china. In any

Philly Fed January non-manufacturing index -16.2 vs +27.3 prior

Posted: 25 Jan 2022 05:30 AM PST

Prior was +27.3  Diffusion index for general activity +2.6 vs +25.9 prior -- lowest since Jan 2021 New orders +0.6 vs +15.0 priorEmployment +5.7 vs +13.7 priorPrices paid +63.0 vs +51.0 priorSix months from now +56.3 vs +56.6 prior In this month's special questions, the firms

ForexLive European FX news wrap: Dollar nudges higher, US futures pointing lower

Posted: 25 Jan 2022 05:07 AM PST

Headlines:Dollar firms ahead of North American tradingBeijing COVID-19 outbreak has spread to Hebei province - state mediaUK January CBI trends total orders 24 vs 22 expectedIfo economist: German economy starts new year with glimmer of hopeGermany January Ifo business climate index 95.7 vs 94.7 expe

Dollar firms ahead of North American trading

Posted: 25 Jan 2022 04:15 AM PST

There's not much else going on besides some continued pressure on equities, with US futures pinned lower as highlighted here. As such, the dollar is continuing its positive run from yesterday with EUR/USD falling to its lowest since 22 December now. Sellers are keeping well in near-term control,

Do you believe in miracles?

Posted: 25 Jan 2022 04:03 AM PST

US futures are pointing lower as we start to shift the focus to North American trading. The market mood wasn't quite impacted early on but we are seeing some light defensive flows play out in the past hour with the dollar firming across the board.EUR/USD is down 0.5% to 1.1270 while GBP/USD has also

Beijing COVID-19 outbreak has spread to Hebei province - state media

Posted: 25 Jan 2022 03:53 AM PST

No mention of which cities are impacted and by how much but in any case, the headline in itself isn't exactly comforting.China appears to be caught in between whether to adapt to a new approach in dealing with omicron or sticking with a zero tolerance policy on COVID-19 cases. They have relaxed the

UK January CBI trends total orders 24 vs 22 expected

Posted: 25 Jan 2022 03:03 AM PST

Prior 24Trends selling prices 66Prior 62The details of the report show that UK manufacturers expect to raise prices by the most since 1977 over the next three months, as global supply chain issues and labour shortages continue to rattle cost/price pressures. Adding to that, export prices expectation

Dollar more mixed in European morning trade

Posted: 25 Jan 2022 01:44 AM PST

Major currencies are not really finding much direction so far today, even as US futures are pointing lower for the time being.There is a sense that investors aren't less attached to the risk averse mood today after having witnessed a miracle yesterday. Currently, EUR/USD is down 0.3% to 1.1293 but t

Ifo economist: German economy starts new year with glimmer of hope

Posted: 25 Jan 2022 01:05 AM PST

It is too early to talk about a turnaround in the economic situation There is some slight easing of supply shortages in industry sector Supply issues involving raw materials, preliminary products have easedDelivery bottlenecks in retail have also eased There is some good news in

Germany January Ifo business climate index 95.7 vs 94.7 expected

Posted: 25 Jan 2022 12:58 AM PST

Prior 94.7; revised to 94.8 Current assessment 96.1 vs 96.1 expected Prior 96.9 Outlook 95.2 vs 93.0 expected Prior 92.6 That's a decent nudge higher in the headline reading, reaffirming better business conditions to start the year as the German economy puts out some resilienc

European equities open higher in catch up play to start the day

Posted: 25 Jan 2022 12:03 AM PST

Eurostoxx +0.9%German DAX +0.8%France CAC 40 +1.1%UK FTSE +0.8%Spain IBEX +0.9%For some context, European indices ended deep in the red yesterday and missed out on the stunning rebound in Wall Street. So, the gains here are in part playing catch up to that but offset against the losses in US futures

Chinese stocks post biggest daily drop since July last year

Posted: 24 Jan 2022 11:12 PM PST

CSI 300 -2.3% Shanghai Composite -2.6% Here's a look at the charts: Coincidentally, the drop in the CSI 300 index is now bringing it close to the July low of 4,663.90. A break below that could exacerbate further declines in Chinese stocks so just be wary of that in the sessions ah

Trade ideas thread - European session 25 January 2022

Posted: 24 Jan 2022 10:49 PM PST

Dead cat or start of a comeback?That's the big question in the market today. Everything else is secondary as the risk mood is the key driver of trading sentiment at the moment. US futures are pointing lower after yesterday's resounding turnaround, so that is still leaving a lot of things up in the a

US futures hold lower ahead of European trading

Posted: 24 Jan 2022 10:34 PM PST

S&P 500 futures -1.1% Nasdaq futures -1.4% Dow futures -0.7% Despite the stirring comeback in the cash market yesterday, US futures are pointing lower for the time being. Much like how before it was too early to draw much conclusions from the early rises in the past week, the same can
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