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Trade ideas thread - European session 3 February 2022

Posted: 02 Feb 2022 10:12 PM PST

The drop in Nasdaq futures is warranting some attention as it presses the pause button on the equities rebound this week. Dip buyers will see a test to their resolve today before all eyes turn towards the US non-farm payrolls tomorrow.The close in the S&P 500 yesterday took it above its 100-day movi

ECB and BOE policy meetings the highlight of European trading

Posted: 02 Feb 2022 09:40 PM PST

The dollar is keeping steadier so far on the day, holding its ground after a more sluggish week in general. Equities continue to perform well although there is a bit of a drag in tech futures after Facebook/Meta's disappointing earnings. But overall sentiment is still holding up with Dow futures kee

US futures a drag ahead of European trading

Posted: 02 Feb 2022 09:14 PM PST

S&P 500 futures -0.9%Nasdaq futures -2.2%Dow futures flatThe fact that tech is the main laggard is at least some comfort to European indices later in the day, since they are less tech-heavy. The Dow is flattish so that at least exudes some sense of calm in terms of overall equities sentiment - for n

ForexLive Asia FX news wrap: Major FX has a mainly sideways session

Posted: 02 Feb 2022 08:18 PM PST

ICYMI - cross-blockchain bridge Wormhole looks to have been hacked, circa $326 m missing More still to come from the RBA this week - Friday bring monetary policy statement The huge rise in Australian imports in the trade data another indication of a booming economy Oil - UBS foreca

The huge rise in Australian imports in the trade data another indication of a booming economy

Posted: 02 Feb 2022 06:53 PM PST

The data is here: Australia trade balance for December 2021, exports and imports both up m/m Remarks from ANZ's analysis: confirmation the Australian economy is in a boom ...  Intermediate imports zooming as they were in the pre-GFC period. The policy stimulus unwind is coming soon.A further stron

Oil - UBS forecast Brent at $100

Posted: 02 Feb 2022 06:16 PM PST

Brent has moved higher than $90 in recent days (its dipped a little since) - UBS see it above there again in March. Citing:limited spare capacityinability for shale to meet global demandglobal demand rising as the world emerges from the pandemicThe $100 forecast has been made also by Goldman, JP Mor

An oil ICYMI - OPEC rubber stamps its pre-agreed 400K b/d increase

Posted: 02 Feb 2022 05:58 PM PST

Greg posted the news Wednesday US time: OPEC+ agreed to increase oil output by 400,000 BPD from March. That is as expected. ANZ analysis: OPEC+ alliance ... was quick to rubber-stamp the increase at its monthly meeting, suggesting there are no dissenting voices to the monthly 400kb/d inc

US President Biden and French President Macron affirmed their support for Ukraine

Posted: 02 Feb 2022 04:47 PM PST

US President Biden and French President Macron affirmed their support for Ukraine's sovereignty and territorial integrity.discussed diplomatic coordination discussed preparations to impose economic costs on Russia if it invades Ukraine

Japan services PMI for January 47.6 (prior 52.1)

Posted: 02 Feb 2022 04:38 PM PST

Jibun services and composite PMIs for January, final. Preliminary and prior are here:Japan Jibun Bank / Markit preliminary PMI for JanuaryComposite 49.9 (prior 52.5)Some of the details are concerning:employment levels drop at the fastest pace for 20 monthsBusiness optimism to a five-month lowSome of

Australia trade balance for December 2021, exports and imports both up m/m

Posted: 02 Feb 2022 04:31 PM PST

Exports +1% m/m (prior +2%)Imports +5% (prior +6%) more to come  

Australia Building Permits for December +8.2% m/m (expected -1%)

Posted: 02 Feb 2022 04:31 PM PST

Private sector houses approvals -1.8% m/m and -21.3% y/yMulti-dwellin approvals (apartments etc) +27.5% m/m and +24.5% y/y  more to come  

CBB says the second half of 2022 in China is set up for an improvement

Posted: 02 Feb 2022 04:26 PM PST

CBB comments on China ahead:A disappointing China Q1 sets up 2H22 to potentially look much improved going into the Party Congress With some caveats:But our January data came out just days ago ... Manufacturing, Retail, Services...we see no part of the economy accelerating right now More tellingly,

New Zealand - ANZ Commodity Price index for January: +1%% m/m (prior -0.3%)

Posted: 02 Feb 2022 04:00 PM PST

The 1% rise in January takes the index to a new record high. rises for dairy and a strong lift in aluminium prices ANZ also provide the result in local currency terms. In NZD the index is +1.9% in January extends its record high the local currency gain was assisted by a slip in the

US equity index futures shunted a lot lower on Globex reopen (thanks, Facebook)

Posted: 02 Feb 2022 03:02 PM PST

Meta shares collapsed after-hours on disappointing results:Meta (i.e. Facebook, who are these guys trying to fool?) shares have been smashedIndexes reflecting this now. 

Forexlive Americas FX news wrap: The ADP job data surprised to the downside this month

Posted: 02 Feb 2022 02:16 PM PST

US stocks close higher for the 4th consecutive day in a up and down and back up day. What is on the economic/event calendar for tomorrow's US trading session? BOC Macklem: Higher rates would be needed to bring inflation back to 2% target WTI crude oil futures settle at $88.26 F

NZ PM Ardern says some vaccinated workers can travel into the country from March 13 2022

Posted: 02 Feb 2022 02:10 PM PST

Some vaccinated skilled workers and backpackers can travel quarantine free from MArch 13up 5000 international students can entre from April 12Australia can travel in quartine free by JulyBorder to reopen to all from October 

Australian services PMI 46.6, and Composite 46.7 (January, final)

Posted: 02 Feb 2022 02:07 PM PST

For the prelims on these: Australia Markit preliminary PMIs for January Manufacturing 55.3 (prior 57.7) And, details of the manufacturing PMI released two days ago: Australia January final Markit PMI 55.1 vs 55.3 prelim December saw the Omicron outbreak intensify, restrictions imposed wei

NZD traders - NZ PM Ardern to announce a five-stage reopening of the NZ border at 2200 GMT

Posted: 02 Feb 2022 01:55 PM PST

In addition to the announcement on border reopening there will be details of the wind-down of MIQ (isolation) 

Trade ideas thread - Thursday 03 February 2022

Posted: 02 Feb 2022 01:46 PM PST

Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so:

Australia construction sector PMI plunges to 45.9 (from prior 57.0)

Posted: 02 Feb 2022 01:36 PM PST

There are further PMIs to come from Australia this morning:Economic calendar due from Asia today - 03 February 2022

Economic calendar due from Asia today - 03 February 2022

Posted: 02 Feb 2022 01:09 PM PST

This snapshot from the ForexLive economic data calendar, access it here. The times in the left-most column are GMT. The numbers in the right-most column are the 'prior' (previous month) result. The number in the column next to that, where is a number, is what is the consensus median expe

US stocks close higher for the 4th consecutive day in a up and down and back up day.

Posted: 02 Feb 2022 01:07 PM PST

The three major indices are closing higher for the 4th consecutive day. The gains were led by the S&P index stocks today. The Russell 2000 of small cap stocks did not fair as well. It fell on the day today.The final numbers are showing:Dow industrial average rose 224.09 points or 0.63% to 35629.34 S

What is on the economic/event calendar for tomorrow's US trading session?

Posted: 02 Feb 2022 12:53 PM PST

The US trading session tomorrow will be filled with central bank decisions, a varied economic release calendar and end with more earnings:Bank of England is expected to announce a 0.25% rise in the official bank rate from 0.25% to 0.5%.  The asset purchase facility is expected to remain at 875B.  BO

Unchanged to higher results for major European indices today

Posted: 02 Feb 2022 08:48 AM PST

The major European indices are closing little changed on the day.German Dax, Unchanged. The German DAX was up 0.78% at the highsFrance's CAC +0.35%. The France's CAC was up 0.72% at its highsUK FTSE 100 +0.8%. The index was up 1.03% at session highsSpain's Ibex unchanged. The index was up 0.67% at s

Crude oil inventories for the current week draw of -1.046M versus estimate build of 1.525M

Posted: 02 Feb 2022 07:30 AM PST

Crude oil -1.046M versus estimates of 1.525M. Private data showed a drawdown of -1.65MGasoline 2.119 versus estimates of 1.645M. Private data showed a build of 5.82MDistillates -2.411M versus estimates of -1.492M. Private data showed a drawdown of -2.51MCushing -1.173M versus previous of -1.823M. Pr
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