2023 world oil demand growth forecast raised to 2.46 mil bpd (previously 2.44 mil bpd)2024 world oil demand growth forecast unchanged at 2.25 mil bpd2023, 2024 world economic growth forecasts unchangedThe bloc says that global oil market fundamentals remain strong...
ECB’s Kazaks: Too soon to say that terminal rate has been reached
Sees risk of spillover into inflationNo clear peak of wage growth seen yetThey need to play it this way in order to keep the door open to more rate hikes, or at least keep up that appearance. But for now, as the economy moves to the brink of a recession, the timing to...
Bond market rally in question as traders await key US data releases
At some point last week, it looked like the bond market rally was about to get going again. And then we got a turn on Thursday and Friday, and suddenly traders aren't sure anymore that the rally would be a sustainable one. So, what's the verdict right now as we get...
Sluggish start to the week for major currencies as market remains tentative
Major currencies are not doing much so far on the session as the overall market mood remains rather tentative to start the new week. Treasury yields are little changed while equities are displaying a more mixed picture in European morning trade. Regional indices are...
China October M2 money supply +10.3% vs +10.3% y/y expected
Prior +10.3%New yuan loans ¥738.4 billion vs ¥665.0 billion expectedPrior ¥2.31 trillionAfter a big jump in new loans at the end of Q3, there is a bit of a dip in October (likely seasonal factors) but it comes in above estimates. This is also still higher than the...
Market Update – November 13 – Pivotal week ahead
It’s the day before a possible Government shutdown again, and a pretty pivotal week ahead for company reports and a round of significant inflation data. Asian stock markets traded mixed overnight. Wall Street closed with a strong rally last week, but with...
IC Markets Launches IC Shares, Expanding to Physical Equity Investment
IC Markets, a prominent online trading service provider with over 15 years in the industry, is thrilled to announce the launch of IC Shares, an expansion of their product range to physical equity investment. The existing product expansion encompasses cash equity...
SNB total sight deposits w.e. 10 November CHF 476.3 bn vs CHF 474.6 bn prior
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
ECB’s de Guindos: Forward guidance is out of fashion
It's all about being data dependent now and that applies to all major central banks around the globe, unless you're the BOJ that is. As for the ECB, they're not really in a flexible spot despite all of their recent remarks. The euro area economy is teetering on the...
ECB’s de Guindos: Will be in a better position to reassess inflation outlook in December
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
European equities open higher but US futures point to mixed picture
Eurostoxx +0.2%Germany DAX +0.3%France CAC 40 +0.2%UK FTSE +0.4%Spain IBEX +0.3%Italy FTSE MIB +0.5%The gains here owe to a catch up to the gains in Wall Street on Friday. So, it's not really pointing to a positive risk momentum to start the session. Looking at US...
German industry sees improvement as supply situation nears pre-crisis level – Ifo
In October, only 18.2% of companies reported problems in the latest survey by Ifo - down from 24.0% in September. According to the economic institute, this sees that "things are almost back to pre-crisis levels". Adding that "companies should plan now for future...
US and South Korea issue joint statement condemning North Korea’s missile launches
The US and South Korea have issued a joint statement saying that they strongly condemn North Korea's missile launches as well as its attempt to launch a space vehicle. The two countries also note that they are to discuss plans to include scenarios of North Korea's use...
A quiet European agenda today as markets brace for US data later in the week
There isn't much on the data docket coming up in the session ahead, so market players will be left to fend for themselves before we get to the key risk events later this week. All eyes are on major data releases in the US as noted here, so trading sentiment should be...
FX option expiries for 13 November 10am New York cut
There is just one to take note of for the day, as highlighted in bold.That being for USD/JPY at the 152.00 mark, which doesn't hold much technical significance although it does coincide to near the October 2022 high of 151.94 - when the BOJ stepped in. I reckon the...
Dollar holds steady, all eyes on key data releases later this week
So, what'd I miss? It's a quiet start to proceedings so far in the major currencies space, with narrow ranges prevailing for now. I mean when EUR/USD is trading within an 8 pips range, you sort of get the idea. Here's a snapshot of things ahead of European...
Goldman Sachs downgrades Hong Kong stocks, expects India to outperform
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Federal Reserve Board Governor Lisa Cook to speak on Monday
Federal Reserve Board Governor Lisa Cook is speaking on Monday, 13 November. It doesn't look like we'll be getting to much from her, the appearance is billed as giving introductory remarks before the Federal Reserve Board 5th Conference on Nontraditional Data, Machine...
ForexLive Asia-Pacific FX news wrap: USD/JPY back near recent high
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
October CBA household spending falls m/m (rate hikes impacting consumption)
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...