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,...
Eurozone December final services PMI 48.8 vs 48.1 prelim
Prior 48.7Composite PMI 47.6 vs 47.0 prelimPrior 47.6Despite the positive revision, this still reaffirms a downturn in the euro area economy to wrap up the 2023 year. Both manufacturing and services output saw declines in December, with overall activity levels being...
Germany December final services PMI 49.3 vs 48.4 prelim
Prior 49.6Composite PMI 47.4 vs 46.7 prelimPrior 47.8The revision is a positive one to the initial estimate but it still points to a marginal decline in services activity in Germany on the month. According to the survey, the drag stems mostly from tighter financial...
France December final services PMI 45.7 vs 44.3 prelim
Prior 45.4Composite PMI 44.8 vs 43.7 prelimPrior 44.6That's a notable positive revision as it sees French services activity outperform that of November as well now. However, it remains in contraction territory with output declining for a seventh straight month. Demand...
Morgan Stanley shifts to neutral stance on the dollar
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,...
Italy December services PMI 49.8 vs 49.8 expected
Prior 49.5Composite PMI 48.6Prior 48.1Italian services activity marginally contracted again in December with output falling for a fifth straight month while the decline in new orders gathered pace. Demand conditions remain subdued and proved to be a drag for Italy's...
Spain December services PMI 51.5 vs 51.2 expected
Prior 51.0New work returns to growth territory as services activity in Spain continues to stay resilient. That being said, selling price inflation has moved up to a seven-month high and could be a cause for concern for the ECB if the trend persists. HCOB notes...
European equities open slightly higher on the day
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France December preliminary CPI +3.7% vs +3.8% y/y expected
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USD/JPY pares early advance as dollar flails after yields setback
USD/JPY daily chartThat is certainly keeping things interesting for USD/JPY, with price action now returning back towards the 200-day moving average (blue line) at 143.17. A push back below that will see sellers seize back some technical momentum but it is still early...
North Rhine Westphalia December CPI +3.5% vs +3.0% y/y 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,...
FX option expiries for 4 January 10am New York cut
There are a couple of significant expiries to take note of on the day, as highlighted in bold.The first ones being for USD/JPY at the 143.85 and 144.00 levels. It looks like flows are returning quickly to markets upon the new year and with the pair racing higher in...
Euro in the spotlight with French, German inflation numbers on the cards
The dollar has made some decent strides this week but faced a bit of a setback overnight when 10-year Treasury yields were rejected at the 4% mark. That is perhaps a sign that the moves this week have been somewhat corrective only and not quite a change up in the...
ForexLive Asia-Pacific FX news wrap: Oil steadies
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US to weigh strikes against Houthi terror bases in Yemen
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,...
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Fitch downgrades four Chinese National asset management firms by one notch
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China’s LGFVs must repay a record $651 billion of bonds in 2024 (will refinance)
Bloomberg with the info on China’s local government financing vehicles.Bloomberg saying it'll test the central government's resolve to backstop local governments in refinancing their debt and avoid default. LGFVs are firms that borrow on behalf of provinces and cities...
BOJ Gov Ueda says he hopes Japan’s economy can balance rises in wages and & inflation
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Employment data coming up from the US on Thursday – December ADP
The consensus expected for the ADP December employment number is 115,000November's ADP number was +103,000The range of estimates is 99K to 130K. Results outside this range should prompt extended market moves, in a nutshell a number under 99K will reignite expectations...