Forexlive RSS Breaking news feed

Forexlive RSS Breaking news feed

Atlanta Fed GDPNow Q4 tracker 7.4% vs 7.6% prior

Posted: 04 Jan 2022 10:54 AM PST

Omicron likely had a dampening effect on December activity in the US. There were also credible reports that Christmas shopping was pulled earlier so it's likely to be overestimating the contribution from the consumer. We're just barely out of Q4 now but I'm comfortable saying that it doesn

UK PM Johnson: We will continue to listen regarding VAT on energy bills

Posted: 04 Jan 2022 09:52 AM PST

UK PM Johnson is speaking: we will continue to listen regarding VAT on energy bills we will listen to business and consumers about how to abate the costs of energy not ruling out for further measures cutting VAT on fuel bills is a bit of a blunt instrument FM Sunak is

Oil strong today but watch out for selling this week on commodity index rebalancing

Posted: 04 Jan 2022 09:09 AM PST

WTI crude is up $1.02 to $77.09 in the aftermath of the OPEC+ decision. All the talk in the oil market is around omicron impacts, Libyan production offline and Chinese demand but technical factors could be in play this week. Bloomberg writes today that the world's two biggest commodities i

European indices close higher for the second consecutive day

Posted: 04 Jan 2022 08:43 AM PST

The major European indices are closing higher for the second consecutive day as equity trading gets off to a good year in 2022. The provisional closes are showing: German DAX, +0.7% France's CAC, +1.3% UK's FTSE 100, +1.5% (the UK market was closed yesterday) Spain's Ibex +0.6%

What's driving the US dollar volatility to start the year

Posted: 04 Jan 2022 08:29 AM PST

I tend to think that financial flows into tech stocks and US stocks in general are a larger factor driving the US dollar than assumed. I'm not sure that's the case today because of all the turn-of-the-year flows but it will be something to watch closely if/when the tech tide goes out. The Nasdaq is

JOLTs job openings come in at 10.562 vs 11.075M estimate

Posted: 04 Jan 2022 07:01 AM PST

Job openings rate and hires and total separation rates The US JOLTs data came in weaker than expected 10.562M vs 11.075M estimate adn last month to 11.091M (revised from 11.033M) job openings 10.562M vs 11.091M in October and 11.075M est Hires rate was little change at 6.7M and

ISM US December manufacturing index 58.7 vs 60.0 expected

Posted: 04 Jan 2022 06:59 AM PST

Data: New orders 60.4 vs 61.5 prior Prices paid 68.2 vs 79.5 expected (prior 82.4) Employment 54.2 vs 53.5 expected Inventories vs 56.8 prior Production 59.2 vs 61.5 prior Backlog of orders 62.8 vs 61.9 prior Supplier deliveries 64.9 vs 72.2 prior Customer inventories 31.7 vs 25.1 prior N

Covid outbreaks in China signal problems to come

Posted: 04 Jan 2022 06:49 AM PST

Port of Ningbo The only place in the world where omicron really matters for markets is China and I believe that market participants are underestimating the risks. China has done an incredible job containing covid but omicron is a different beast and we continue to see signs of that. Xia

US stocks open higher. S&P and Dow trade at new intraday highs

Posted: 04 Jan 2022 06:33 AM PST

The Dow and S&P index are trading at new all-time intraday highs as the major indices open higher. The NASDAQ index is trading above and below unchanged but currently higher on the day.  THe snapshot of the market shows: Dow industrial average up 196 points or 0.53% at 36774. A new all-time hig

Canada Markit December manufacturing PMI 56.5 vs 57.2 prior

Posted: 04 Jan 2022 06:29 AM PST

Prior was 57.2 Fastest uptick in pre-production orders since the survey began 11 years ago Production outlook at 5-month low Material shortages restraining production Panelists mentioned that whilst firms were able to source skilled labour it was not sufficie

OPEC+ agrees to stick to planned 400K bpd output increase - report

Posted: 04 Jan 2022 06:00 AM PST

No surprise there. Oil hit new highs for the day just before the leak with brent running into offers at $79.99. There's some selling of the news hitting in WTI. The Canadian dollar is tracking the improvement in oil prices with USD/CAD falling to 1.2729 but there's support at the low of the

The OPEC+ meeting is underway and it might be a short one

Posted: 04 Jan 2022 05:58 AM PST

The OPEC+ meeting is ongoing now and it shouldn't be long before we see leaks saying that the planned 400,000 barrel per day increase slated for February is approved. OPEC undoubtedly feels vindicated after last months' decision to stick with the hike despite omicron and falling prices (at the time)

Canada November producer price index +0.8% m/m vs +0.8% expected

Posted: 04 Jan 2022 05:30 AM PST

Prior was +1.3% m/m Prices y/y +18.1% vs +16.7% prior Raw materials price index -1.0% m/m vs +4.8% prior Raw materials y/y +36.2% vs +38.4% prior These are obviously problematic numbers and even if many of these inputs fall, these prices are going to be pushed through

On the docket: ISM manufacturing, JOLTS and Canada returns after the loonie's wild ride

Posted: 04 Jan 2022 05:08 AM PST

USD/CAD went for a bit of a ride in the past few trading days but all the moves were in lower liquidity. The drop in USD/CAD came on New Years Eve and yesterday's rebound came with Canada out for holiday. All told though, CAD is essentially back to where it was before the wobble. At the sam

ForexLive European FX news wrap: USD/JPY surges to fresh five-year highs

Posted: 04 Jan 2022 04:52 AM PST

Headlines:USD/JPY stays perky, closes in on 116.00USD/JPY goes with the break in push to five-year highsThe bond market is arguably the key spot to watch this weekUK November mortgage approvals 67.0k vs 67.2k priorUK December final manufacturing PMI 57.9 vs 57.6 prelimGermany December unemployment c

USD/JPY stays perky, closes in on 116.00

Posted: 04 Jan 2022 03:21 AM PST

The pair continues to trade at its highest in five years and barring any major risk-off shift, it may be tough for sellers to turn the tide unless we see a technical air pocket at the 116.00 level itself. Otherwise, the dollar can take comfort from higher yields but bond traders will have to fig

Heads up: OPEC+ meeting to begin later at 1300 GMT

Posted: 04 Jan 2022 02:53 AM PST

The bloc is expected to stick with the status quo and keep with the planned 400k bpd increase in February. Considering how members are content with the oil price rebound after the slump in late November, I don't see why they should change things up now.Oil is continuing to make more headway in the n

The bond market is arguably the key spot to watch this week

Posted: 04 Jan 2022 01:44 AM PST

That will depend on the continuation of flows from yesterday, adding to the mix ahead of the FOMC meeting minutes release as well as the US non-farm payrolls release on Friday. The wedge pattern certainly indicates that eventually, something's gotta give. And if yields are to break to the topside

UK November mortgage approvals 67.0k vs 67.2k prior

Posted: 04 Jan 2022 01:30 AM PST

Prior 67.2k Net consumer credit £1.2 billion Prior £0.7 billion; revised to £0.8 billion Slight delay in the release by the source. Mortgage approvals are seen steadying as conditions start to moderate from the peak in the months before. This comes as housing market activity also ease

UK December final manufacturing PMI 57.9 vs 57.6 prelim

Posted: 04 Jan 2022 01:29 AM PST

A mild upside revision as the report reaffirms continued growth in UK manufacturing towards the end of last year. Output and new orders both saw rises in December, though price pressures continue to stay elevated. Of note, the increase in average input prices last month was still among the steepest

Germany December unemployment change -23k vs -15k expected

Posted: 04 Jan 2022 12:54 AM PST

Prior -34kUnemployment rate 5.2%Prior 5.3%The German jobless total falls by another 23,000 to 2.405 million with the unemployment rate ticking lower once again. This just reaffirms further progress in labour market conditions, striving towards pre-pandemic levels still. To cut short, it just continu

European equities off to another bright start today

Posted: 04 Jan 2022 12:31 AM PST

Eurostoxx +0.5% Germany DAX +0.2% France CAC 40 +0.5% UK FTSE +1.0% Spain IBEX +0.6% UK stocks are playing a bit of a catch up to the gains yesterday upon returning from the long weekend. Meanwhile, French stocks are soaring with the CAC 40 index at fresh record highs: Elsew

China to only lift Xi'an lockdown when 'zero social transmission' is achieved

Posted: 04 Jan 2022 12:03 AM PST

For some context, Xi'an has entered into its 13th day of lockdown. The 'zero social transmission' is outlined to be when new confirmed cases were either isolated "close contacts" or "close contacts of close contacts" of previously recorded cases, with no other transmission in the community.Only if t

France December preliminary HICP +3.4% vs +3.5% y/y expected

Posted: 03 Jan 2022 11:44 PM PST

Prior +3.4%CPI +2.8% y/yPrior +2.8%The readings are similar to that in November, reaffirming that price pressures remain elevated going into 2021 year-end. As things stand, inflation is unlikely to tail off rather quickly in 1H 2022 but perhaps we may see a peak soon enough.That said, it is best to

Switzerland December CPI +1.5% vs +1.5% y/y prior

Posted: 03 Jan 2022 11:29 PM PST

Prior +1.5%Core CPI +0.8% y/yPrior +0.7%With core inflation still rather subdued, there will continue to be a lack of urgency for the SNB to do anything.
Posted by: at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)