Forexlive RSS Breaking news feed

Forexlive RSS Breaking news feed

US EIA weekly crude oil inventories -4756K vs +369K expected

Posted: 09 Feb 2022 07:29 AM PST

Prior was +3500KGasoline vs +1623K expectedDistillates vs -1739K expectedRefinery utilization vs -0.3% expectedAPI data released late yesterday:Crude -2025KGasoline -1138KDistillates -2203KCushing -2502K

US December wholesale inventories +2.2% vs +2.1% prelim

Posted: 09 Feb 2022 06:59 AM PST

Inventories rose 2.1% in the preliminary report Prior was +1.7% Sales +0.2% vs +1.2% expectedPrior sales 1.3% (revised to 1.7%) Wholesale inventories have been up for 17 consecutive months as inventory replenishment continues post the pandemic.

US major indices continue the move higher after yesterday's rise

Posted: 09 Feb 2022 06:43 AM PST

The major US indices are continuing the move higher after yesterday's gains. The major indices are up for the third consecutive day .A snapshot of the market opens at the open is currently showing: Dow industrial average upp 265.94 points or 0.75% at 35728.73 S&P index up 53.55 points or 1.

ForexLive European FX news wrap: Dollar sluggish, equities climb

Posted: 09 Feb 2022 04:36 AM PST

Headlines:Equities pull higher but the big test comes tomorrowUK PM Johnson says to end COVID-19 self-isolation requirement one month earlyUS MBA mortgage applications w.e. 4 February -8.1% vs +12.0% priorGermany December trade balance €6.8 billion vs €10.9 billion priorECB's Nagel: If inflation pic

UK PM Johnson says to end COVID-19 self-isolation requirement one month early

Posted: 09 Feb 2022 04:25 AM PST

He says that:"It is my intention to return on the first day after the half-term recess to present our strategy for living with COVID-19. Provided the current encouraging trends in the data continue, it is my expectation that we will be able to end the last remaining domestic restrictions, including

US MBA mortgage applications w.e. 4 February -8.1% vs +12.0% prior

Posted: 09 Feb 2022 03:59 AM PST

Prior +12.0% Market index 567.7 vs 617.8 prior Purchase index 282.3 vs 312.2 prior Refinancing index 2,183.5 vs 2,355.4 prior 30-year mortgage rate 3.83% vs 3.78% prior Higher rates starting to be an issue for the housing market? That's a sharp drop in mortgage activity as the

AUD/USD nudges to two-week high as dollar slips on the day

Posted: 09 Feb 2022 02:30 AM PST

The pair is up to 0.7173 on the day - the highest since 26 January. Just be mindful though that there are a decent chunk of expiries around 0.7150-70 that could keep gains more limited but at the moment, the more positive risk backdrop is helping to spur commodity currencies in European trading.

Equities pull higher but the big test comes tomorrow

Posted: 09 Feb 2022 02:05 AM PST

European indices are pushing forward with gains of around 1.5% on the day while US futures are also gaining further ground on the session so far. S&P 500 futures are now up 0.7%, Nasdaq futures up 0.8%, and Dow futures up 0.6%. All looks to be well in the equities space after quite a modest showing

Oil dribbles lower, then bounces back on the session

Posted: 09 Feb 2022 01:00 AM PST

Oil bulls are not throwing in the towel just yet and the latest dribble lower was quickly bought up as we see a test of yesterday's low come into play: There are solid structural reasons to expect oil to outperform moving forward and that will keep the bullish conviction in the commodity running

Major currencies see little change so far on the day

Posted: 09 Feb 2022 12:28 AM PST

The dollar is trading more mixed and mildly lower but changes are rather minimal and light to start European trading. Equities are holding more positive and commodity currencies have had a decent run to start the week but the gains for the loonie, aussie, and kiwi are nothing to shout about. Even no

European equities open higher to start the day

Posted: 09 Feb 2022 12:07 AM PST

Eurostoxx +0.9%Germany DAX +0.8%France CAC 40 +1.0%UK FTSE +0.6%Spain IBEX +0.7%The optimistic mood has been watered down a little in the past hour, as equity gains have been chipped away slightly. Still, European indices are starting off strongly though US futures have given up some gains on the da

Eurostoxx futures +1.0% in early European trading

Posted: 08 Feb 2022 11:11 PM PST

German DAX futures +0.8%UK FTSE futures +0.9%Spanish IBEX futures +1.1%This follows the light changes in European equities yesterday, before having seen Wall Street end the day with solid gains. The more optimistic mood today is also helping, with US futures keeping a decent advance for now. S&P 500

Germany December trade balance €6.8 billion vs €10.9 billion prior

Posted: 08 Feb 2022 10:59 PM PST

Prior €10.9 billion Exports +0.9% m/m Prior +1.7% Imports +4.7% m/m Prior +3.3% The German trade balance shrunk towards the end of last year as the growth in imports outpaced that of exports on the month. But in terms of overall trade conditions, there are positives to take no

Trade ideas thread - European session 9 February 2022

Posted: 08 Feb 2022 10:33 PM PST

We may be in for more of a placeholder kind of trading day, though equities are seeing a bit more of a positive mood. The US inflation report tomorrow is the key risk event that markets are watching this week, so we may not see much meaningful action for now.Major currencies are little changed for t

A light one on the data docket in Europe today

Posted: 08 Feb 2022 10:10 PM PST

The oil drop yesterday was perhaps the most notable price action but we are seeing calmer tones there so far today.WTI crude is holding just above its 200-hour moving average of $89.08 so that remains a key spot for buyers to defend in the sessions ahead.Meanwhile, the dollar is keeping a touch lowe

US futures hold slight advance ahead of European trading

Posted: 08 Feb 2022 09:16 PM PST

S&P 500 futures +0.5% Nasdaq futures +0.5% Dow futures +0.4% This follows the more optimistic showing yesterday, whereby Wall Street posted solid gains. As much as there are still positive tones being observed, be mindful that hawkish central bank narratives are still at play as we al

Japan to hike gasoline subsidy to ¥5 a litre for the week, up from ¥3.7 a litre

Posted: 08 Feb 2022 09:08 PM PST

This will apply for the week starting Thursday but geez, is that ever a pathetic amount. The increase in subsidy to ¥5 a litre will hit a cap for the temporary scheme to curb any excessive rise in fuel prices. For some context, the government sets the subsidy amount every week if the retail price of

Toyota has reported its highest ever net profit for April - December in 2021

Posted: 08 Feb 2022 08:47 PM PST

Info via Japanese media, reports adding that: headwinds including the ongoing chip shortage and supply chain disruptions  annual vehicle output for the fiscal year ending March will fall below its most recent target of 9 million as the chip crunch wreaks havoc along Southeast Asia's supply

ForexLive Asia FX news wrap: EUR/USD slides a few points

Posted: 08 Feb 2022 07:50 PM PST

(If) US 10-yr yield rises above 2%, Société Générale targeting towards 120 in USD/JPY ICYMI - US officials call on China to abide by 'Phase 1' trade deal commitments Australian skilled job vacancies have hit a 13 year high China has eased its cap on loans for the real estate sector

(If) US 10-yr yield rises above 2%, Société Générale targeting towards 120 in USD/JPY

Posted: 08 Feb 2022 07:23 PM PST

In brief from an SG report: If we are going to see 10-year Note yields break 2% and the market price in a higher terminal Fed Funds rate (which seems highly likely) then USD/JPY 116 is going to break again and a move towards 120 will follow For now, and all the more so given the price of oi

ICYMI - US officials call on China to abide by 'Phase 1' trade deal commitments

Posted: 08 Feb 2022 07:11 PM PST

Reuters carried the report (this from yesterday ICYMI) U.S. officials called for "concrete action" from China to make good on its commitment to purchase $200 billion in additional U.S. goods and services in 2020 and 2021 under the "Phase 1" trade deal signed by former President Donald Trump.

Australian skilled job vacancies have hit a 13 year high

Posted: 08 Feb 2022 06:38 PM PST

Australian National Skills Commission data on the preliminary Internet Vacancy Index (IVI) +4.4% in January, +54% on pre-covid levels that is up by 10,918 available positions to 259,027 available positions, which is a 13-year high Recruitment activity +40.8% y/y (+75,0003 ads) And, on wa

China says it will take action to ensure the stability of iron ore prices

Posted: 08 Feb 2022 05:06 PM PST

By 'price stability' the regulator means driving the price lower.  Says it will strengthen market supervision, crackdown on price irregularities & hoardingIron ore is, of course, Australia's #1 export to China, Price movement in iron ore impacts AUD. 

Lending data from China is due soon - record new yuan loans expected

Posted: 08 Feb 2022 04:36 PM PST

China's new yuan loans likely hit a record high in January. money supply growth is also expected to pick up This snapshot from the ForexLive economic data calendar,

Oil - Goldman Sachs says 50% chance Iran remain sanctioned through 2023

Posted: 08 Feb 2022 03:58 PM PST

ICYMI, the report is here: Biden restores Iran civilian nuclear sanctions relief in sign of deal progress. Watch oil As I posted on a follow-up Monday: At the margin this is a negative for oil Goldman Sachs say the prospect of agreement on Iran is a coin toss: We currently only e
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