Forexlive RSS Breaking news feed

Forexlive RSS Breaking news feed

What is on tap for today's session?

Posted: 02 Feb 2022 05:06 AM PST

So what is on the US event/release calendar for today?US ADP Non farm payroll change. 8:15 AM ET. Estimate 185K vs 807K last month. The US non farm payroll data will be released on Friday at 8:30 with estimates of145K after last months 199K actual number. The big miss from ADP last month vs the BLS

ForexLive European FX news wrap: Eurozone inflation hits record, dollar slump extends

Posted: 02 Feb 2022 04:54 AM PST

Headlines:Eurozone January preliminary CPI +5.1% vs +4.4% y/y expectedEUR/USD nudges to one-week high as dollar stays sluggishEquities bounce set to face a key test later in the dayOPEC+ JMMC meeting ends, recommends 400k bpd output increase for MarchUS MBA mortgage applications w.e. 28 January +12.

OPEC+ JMMC meeting ends, recommends 400k bpd output increase for March

Posted: 02 Feb 2022 04:46 AM PST

The ministerial meeting is up next (either on 23 or 24 February) and will likely stick with the recommendation. That will keep the status quo in the oil market landscape so there isn't anything new here.

US MBA mortgage applications w.e. 28 January +12.0% vs -7.1% prior

Posted: 02 Feb 2022 04:05 AM PST

Prior -7.1%Market index 617.8 vs 551.7 priorPurchase index 312.2 vs 300.1 priorRefinancing index 2,355.4 vs 1,989.4 prior30-year mortgage rate 3.78% vs 3.72% priorAfter a major tumble in refinancing activity in the week prior, we're seeing a bounce back now and that mostly led to the rebound in mort

EUR/USD nudges to one-week high as dollar stays sluggish

Posted: 02 Feb 2022 02:36 AM PST

The pair is now trading up to its highest level in a week, clipping the 1.1300 level today. This comes as the dollar remains more sluggish across the board in trading this week, with today being no exception. USD/JPY is down 0.3% to 114.33 and USD/CHF also down 0.2% to 0.9194 on the day. And we are

Eurozone January preliminary CPI +5.1% vs +4.4% y/y expected

Posted: 02 Feb 2022 01:59 AM PST

Prior +5.0%Core CPI +2.3% vs +1.9% y/y expectedPrior +2.6%That's a big blow to the ECB as euro area inflation unexpectedly hits a new record high, defying expectations. Soaring energy prices continue to drive up inflation mostly but food prices also surged to start the year. Meanwhile, services and

Cable buyers hoping to establish next leg higher

Posted: 02 Feb 2022 01:55 AM PST

The pair is in the hunt for a fourth straight day of gains, building strongly on the turnaround in sentiment this week. The drop below 1.3400 has been scavenged, with buyers now hoping to extend the more positive momentum from a technical perspective. The bounce in the past few sessions is seeing

Equities bounce set to face a key test later in the day

Posted: 02 Feb 2022 12:40 AM PST

The positive mood so far this week has been rather interesting to take note of but now is where dip buyers will have to follow through on the bounce since last week. The S&P 500 has held at support from the July to October lows from last year and returned a bounce above its 200-day moving av

OPEC+ to meet later today but no change to the status quo expected

Posted: 02 Feb 2022 12:20 AM PST

The move will pretty much keep the ongoing narrative in the oil market and not shake things up whatsoever. Oil prices are keeping steadier, with Brent holding just above $89 and WTI just above $88 on the day.There is a sense that oil bulls are hunting for that next extension leg higher but aren't ab

European equities open higher to start the day

Posted: 02 Feb 2022 12:15 AM PST

Eurostoxx +0.5%Germany DAX +0.5%France CAC 40 +0.3%UK FTSE +0.5%Spain IBEX +0.4%The positive vibes are keeping with the better close in US stocks yesterday and the more optimistic tone in tech futures so far on the day. S&P 500 futures are up 0.5%, Nasdaq futures up 1.1%, though Dow futures are down

Light changes in FX so far to start the day

Posted: 01 Feb 2022 11:49 PM PST

The ranges are still relatively tight and changes are rather minimal for the time being. EUR/USD is holding within 10 pips in between 1.1267 and 1.1277 so far on the day. That sort of gives you a sense of how things are playing out for now. Dollar sentiment stays slightly more on the retreat as A

Eurostoxx futures +0.6% in early European trading

Posted: 01 Feb 2022 11:11 PM PST

German DAX futures +0.6%UK FTSE futures +0.5%This sort of mirrors the mood in US futures, with S&P 500 futures seen up 0.6% and Nasdaq futures up 1.1%. Dow futures are more flattish though. The rise in tech futures owe much to a surge in Google and AMD on earnings, offset by PayPal.But all of the op

Trade ideas thread - European session 2 February 2022

Posted: 01 Feb 2022 10:11 PM PST

The dollar looked like it was set for a breakout on multiple fronts at the end of last week but suddenly, we're seeing everything turn back on a series of a couple of false breaks. EUR/USD dropped below 1.1200 only to come back up to 1.1270 now, moving towards the 50.0 retracement level of its recen

Eurozone inflation in focus today

Posted: 01 Feb 2022 09:06 PM PST

The key release in Europe later will be the Eurozone inflation data, where we should see a slight easing in the year-on-year figures. The December release featured a +5.0% y/y reading but is estimated to fall to +4.4% y/y later today. That said, there is a caveat to note when interpreting the figu

Forexlive Asia-Pacific news wrap: RBA's Lowe isn't worried about inflation

Posted: 01 Feb 2022 09:02 PM PST

RBA's Lowe: We're prepared to be patient, don't need to move in lockstep with others Lowe Q&A: It remains to be seen if rates will rise this year New Zealand Q4 unemployment rate 3.2% vs 3.4% expected China reports 63 new covid cases vs 66 a day earlier BOJ's Kuroda: Cannot acce

Risk fairly upbeat ahead of European morning trade

Posted: 01 Feb 2022 08:55 PM PST

To those celebrating, I wish you all a Happy Lunar New Year and a prosperous Year of the Tiger to come!At the end of last week, markets looked to be in dire straits with the dollar running rampant and risk trades breaking down. Fast forward to three days later, suddenly we're headed in the other dir

PayPal executives warns on consumer spending

Posted: 01 Feb 2022 06:36 PM PST

Shares of PayPal are down 18% after reporting earnings after the US close today. If that holds, it will open at the lowest since May 2020 tomorrow, near $144. It's been an absolute swan dive for the shares from $310 in July as the entire payments industry faces a washout.What's notable to

China reports 63 new covid cases vs 66 a day earlier

Posted: 01 Feb 2022 05:22 PM PST

The official tally for new China coronavirus cases on February 1 was 66, including 36 that were domestically transmitted and the rest from overseas arrivals. There were 15 cases in Xhejiang and 12 in Tianjin, near Beijing, while the capital had 2 new cases. China classifies asymptomatic cases separa
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