S&P 500 futures are now up 24 points, or 0.6%, on the day as stocks are being bid up since European traders got to their desks this morning. European indices themselves are now up around 1.3% to 1.8% across the board and that is helping to underpin risk assets in...
Dollar stays pinned down after yesterday’s retreat
10-year Treasury yields are down another 1.6 bps to 4.718% now and with equities also rallying so far in European morning trade, it isn't making things comfortable for the dollar thus far. In particular, USD/JPY is looking dicey as it could threaten to fall back below...
Japan PM Kishida says will push firms to achieve higher wage hikes next year
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 Knot: Policy rates now are at a good ‘cruising altitude’
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,...
BOJ’s main message is to maintain easy policy, even if their actions contradict – report
The report says that the BOJ is to continue a gradual exit from its ultra-loose monetary policy and may look to step up its plans some time next year. The sources say that Ueda is trying to stick to a pattern that he has established in his first six months as governor...
Eurozone October final manufacturing PMI 43.1 vs 43.0 prelim
Prior 43.4The manufacturing recession in the euro area deepens as now employment conditions are starting to be noticeably hit as well. Given such a poor start to Q4, it is over to services once again to see if it can drag the Eurozone out of the mud and prevent deeper...
Germany October unemployment change 30k vs 15k expected
Prior 10kUnemployment rate 5.8% vs 5.8% expectedPrior 5.7%German unemployment rose more than expected in October, showing some mild cracks in the resiliency of the labour market over the last few months. The jobless rate also ticked slightly higher, so this is going...
Germany October final manufacturing PMI 40.8 vs 40.7 prelim
Prior 39.6The headline reading is an improvement to September but is still a very poor one as weak demand conditions are weighing heavily on Germany's manufacturing sector. Of note, job cuts are also picking up and that will be something to be mindful about in the...
France October final manufacturing PMI 42.8 vs 42.6 prelim
Prior 44.2France's manufacturing woes continue to deepen to start Q3 with the steepest drop in new orders since 2009 - that is if you take out the pandemic-hit months. Meanwhile, business confidence has also plunged to a three-and-a-half year low. HCOB notes...
Italy October manufacturing PMI 44.9 vs 46.2 expected
Prior 46.8That's a miss on Italy as well as manufacturing conditions continue to be hampered by weak demand. Of note, output and new sales were seen contracting at a faster pace in October. HCOB notes that:“It doesn’t look good for the Italian manufacturing sector....
Spain October manufacturing PMI 45.1 vs 47.0 expected
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 stocks look to keep the good run going this week
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,...
Switzerland October CPI +1.7% vs +1.7% y/y expected
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 2 November 10am New York cut
There are a couple to take note of on the day, as highlighted in bold.The first ones are for EUR/USD at 1.0540 and 1.0600. Both do not hold much technical significance, so the one at 1.0540 is not likely to factor into play too much especially as the dollar keeps on...
The bigger they are, the harder they fall
The dollar has been the frontrunner in the last few months and it owes much to a rout in the bond market. Soaring Treasury yields alongside a more robust economy helped to provide the necessary tailwind for the dollar to outperform its peers. But now, are we poised...
BOE the main event on the agenda in the session ahead
Both the dollar and Treasury sellers look like they're in to be squeezed right now, after a turn in the bond market yesterday. 10-year yields tumbled by nearly 20 bps after Yellen's hub announced a wave of supply that is less fearful for traders. The greenback dropped...
AUD/USD looks to come up for some air
Right now, the pair has one thing working in its favour for a move higher. But that particular factor is two-fold and so that amplifies the potential for a stronger relief rally in AUD/USD at the moment. Since the drop below 0.6500 in August, the pair has been caught...
Forexlive Asia-pacific FX news wrap 1 Nov: USD moves lower as markets react to the FOMC
The USD moved lower into the close yesterday after the FOMC kept rates unchanged and the Fed Chair was a little more dovish - at least in the short term. The USD selling continued into the early APAC session and has not let up much. US yields continued their fall with...
Is the bond market rout finally over?
10-year Treasury yields took a big tumble in trading yesterday as the Treasury quarterly refunding announcement was not as bad as feared. The flood of supply was lower than anticipated and that sparked a rally in bonds, helped by a less hawkish take by Powell. The...
USDJPY bounces off the 200 hour MA. Key support stalls the fall.
USDJPY fell to the 200 hour MA & finally found some supportThe USDJPY fell sharply but after breaking below its 100-hour moving average at 150.283 and the 50% midpoint of the move up from Monday's low at 150.252, the buyers showed up near the 200-hour moving...