Stock markets sold off across Asia, with the JPN225 underperforming and losing more than -2%. US futures are higher, as are European futures, as markets watch efforts to prevent a further escalation and widening of the Israel-Hamas conflict. Asian markets were still...
Yellen: US economy is in a good place
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,...
Japan top currency diplomat says intervention is an option during excessive FX moves
We will take appropriate action when needed in FX marketIt's just a little verbal pushback but I reckon they might not be too interested to step in right on the dot at 150.00 again the next time around. They may offer a bit more leeway considering that the path of...
Eurozone August trade balance €6.7 billion vs €6.5 billion prior
> Eurozone August trade balance €6.7 billion vs €6.5 billion prior Latest data released by Eurostat - 16 October 2023 <!--> Justin Low Monday, 16/10/2023 | 09:00 GMT-0 16/10/2023 | 09:00 GMT-0 --> <!--> Prior €6.5 billion ADVERTISEMENT - CONTINUE...
BOE’s Pill: We have done a lot on interest rates
Persistent inflation is the key element that we are watchingIf we have a persistent component of inflation, need persistent monetary policy responseNot all wage indicators are pointing the same way right nowThey're not ruling out more rate hikes to follow but that to...
Dollar holds mildly lower on the day
The changes among major currencies are relatively light for now, as traders are still trying to make sense of the overall mood in markets since Friday. There was a rush to safety at the end of last week and that underpinned the dollar but we are seeing a slight...
PepsiCo Stocks Rose after Earnings. But Why Then Analysts Adjusted Their Forecasts?
Sometimes, almost everyone gets in the mood for a Pepsi or McDonald's. You know, such an internal craving for fast food or sugary beverages for no explicable reason. However, these days, people choose healthier food options more frequently. Surprisingly, this shift is...
SNB total sight deposits w.e. 13 October CHF 483.8 bn vs CHF 479.9 bn prior
Domestic sight deposits CHF 474.9 bn vs CHF 469.1 bn priorAs the SNB moves to the sidelines in terms of monetary policy, we're seeing sight deposits also stabilise with the recent rise in the past week moving total sight deposits back to levels seen in August. Here's...
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Gold Technical Analysis – Risk of a big unwind of the Friday’s rally
Last Friday, Gold skyrocketed as we got some defensive positioning into the weekend due to some expectations that Israel could start a ground offensive in Gaza and that could have led Iran to join Hamas with uglier scenarios becoming likely from that point onwards....
China economy expected to have slowed down in Q3 – poll
Q3 GDP seen at 4.4% year-on-year, down from 6.3% in Q2Q3 GDP forecast at 1.0% q/qChina economy to grow 5.0% in 2023 (similar to September poll, in July it was 5.5%)All in all, it points to a gradually softer outlook towards the Chinese economy as domestic demand...
Market fears abate slightly to start the new week
On Friday, it was all about rushing to seek shelter as markets braced for the uncertainty over the weekend that may befall the Israel-Hamas conflict. But as things weren't as bad as feared, we're seeing traders and investors start taking baby steps again to test the...
FX option expiries for 16 October 10am New York cut
There is just one to take note of, as highlighted in bold.That being for EUR/USD at 1.0500, which helps to add as a defensive layer to the pair as seen with the bounce on Friday at the figure level. But on a day where trading sentiment is more focused on the risk mood...
Germany September wholesale price index +0.2% vs +0.2% m/m prior
Prior +0.2%In annual terms, wholesale prices were down 4.1% compared to the same month a year ago and that represents the largest year-on-year drop since May 2020. But on the month itself, wholesale prices were up 0.2% compared to August mostly due to a rise in prices...
Russell 2000 Technical Analysis – Watch what happens at this key support
Last Friday, the market sold off as the University of Michigan Consumer Sentiment report saw a big miss across the board with the inflation expectations figures spiking back up. This might be a signal that the consumers are indeed weakening, and it could be a bad omen...
A couple of light releases coming up in European trading today
After the flight to safety on Friday, markets are still largely on edge as we get the new week underway. Gold is down slightly to $1,919 but it pales in comparison to the $63 gain at the end of last week to $1,932. Meanwhile, oil is steadying at $87.71 while major...
Israel-Hamas conflict still a focus point to start the new week
That being said, we are starting to see the Friday moves abate a little for now. In particular, gold is down 0.6% but it's a minor retreat compared to the over 3% gains at the end of last week:Gold (XAU/USD) daily chartThe fall puts emphasis back on the 100 (red line)...
ForexLive Asia-Pacific FX news wrap: NZD opens and pops higher after weekend election
Fed's Harker speaks Monday on his economic outlookChina's foreign minister Wang Yi meets Russian foreign minister Sergey LavrovA number of risk advisory investigation firms are closing Hong Kong offices5 hour ceasefire to allow foreigners to exit, & humanitarian...
Fed’s Harker speaks Monday on his economic outlook
The times for this seem a little uncertain, it looks like 0630 GMT, which is 1030 US Eastern time: Federal Reserve Bank of Philadelphia President Patrick Harker speaks virtually on the economic outlook before the National Association of Corporate Directors Webinar But...
China’s foreign minister Wang Yi meets Russian foreign minister Sergey Lavrov
Statement from Moscow's foreign ministry via state media.The China, Russia and North Korea axis are in partnership supporting Russia's invasion of Ukraine and Hamas terrorism in Israel. Weapons of war are flowing from China and North Korea to Russia and Hamas. Putin...