Copper rallied on Monday after the Chinese consumer and producer price inflation showed some improvement in the world’s largest Copper importer. Chinese authorities keep on rolling out support for the economy to spur growth with the PBoC expected to proceed with more...
Eurozone July industrial production -1.1% vs -0.7% m/m expected
Prior +0.5%; revised to +0.4%Industrial output in the euro area falls by more than expected in July, with a rise in intermediate goods (+0.2%), non-durable consumer goods (+0.4%), and energy production (+1.6%) being offset by declines in capital goods (-2.7%) and...
Down and running, for how long? – EURUSD
We woke up to the news that the money markets are now pricing in a full 25 bps hike in the rate by the ECB by the end of the year. We are talking here about OTC swaps (EONIA) and for now – as the futures market is not open at the time of writing – we...
GBPJPY Technical Analysis – Key trendline in focus
UK:The BoE hiked by 25 bps as expected at the last meeting. The central bank seems to be leaning more on the less hawkish side as a key line in the statement was tweaked to indicate the propensity for a “high for longer” stance rather than keeping with additional rate...
German economy ministry says current indicators point to weak Q3
Early indicators point to subdued developments of private consumption in coming monthsNoticeable economic recovery only to be seen at the turn of the year at earliestThey're still not quite acknowledging the situation fully, by putting off from saying the R-word. But...
Goldman Sachs slash UK 2023 GDP growth forecast to 0.3% from 0.5% previously
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,...
LeveX Unleashes Next-Gen Social Trading Features, Pioneering a Crypto Trading Ecosystem
Unveiling a new era in cryptocurrency trading, LeveX brings to the fore an unprecedented integration of social trading into its platform, fostering a vibrant and connected trading community. Beyond this landmark feature, LeveX also offers a plethora of innovations,...
China says it has not issued a ban on purchase and/or use of iPhones
> China says it has not issued a ban on purchase and/or use of iPhones Or any foreign brand phones for that matter, according to the Chinese foreign ministry <!--> Justin Low Wednesday, 13/09/2023 | 07:25 GMT-0 13/09/2023 | 07:25 GMT-0 --> <!-->...
WTI Crude Oil Technical Analysis – Key resistance in sight
Crude Oil keeps on surging to new highs as the supply side gets squeezed more amid resilient global demand. In fact, the OPEC continues to forecast robust growth for oil demand in 2023 and 2024 while keeping supplies tight as we saw last week with the Saudi Arabia and...
European stocks open lower to kick start the day
Eurostoxx -0.4%Germany DAX -0.4%France CAC 40 -0.4%UK FTSE -0.1%Spain IBEX -0.4%Italy FTSE MIB -0.4%This mostly ties to the losses from Wall Street yesterday, as the overall market mood today remains more tepid. The dollar is also seen steadier across the board, so...
FX option expiries for 13 September 10am New York cut
There isn't anything significant to take note of on the board for today. As such, trading sentiment is likely to stay rather muted until we get to the US CPI data later in the day. That will be the key driver for broader markets and will set the tone before we get...
Sterling falls as UK economy contracts by more-than-expected in July
In particular, I'd keep an eye out on EUR/GBP as the pair threatens a push past its 100-day moving average (red line) especially with rate hike odds firming up for the ECB going into tomorrow:EUR/GBP daily chartThe data here highlights the biggest monthly UK GDP...
USDCHF Technical Analysis – Key support in sight
US:The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting.Fed Chair Powell reaffirmed their data dependency and kept all the options on the table.Inflation measures since then showed further disinflation. The labour market displayed...
UK July monthly GDP -0.5% vs -0.2% m/m expected
Prior +0.5%GDP +0.2% vs +0.3% 3m/3m expectedPrior +0.2%That's a rough one as the summer hit to UK economic activity looks to be harder than anticipated. Looking at the breakdown:Services -0.5% m/mIndustrial output -0.7% m/mManufacturing output -0.8% m/mConstruction...
PBOC says will support prices to rise moderately
Will pay close attention to the effect of financial policiesWill strengthen guidance of expectationsThese are just some token remarks. The good news for China is that the latest inflation numbers were no longer negative as seen here. But then again, it is China data...
Putin does not rule out military cooperation with North Korea amid Kim Jong Un’s visit
When asked about Russia helping to build satellites for North Korea, Putin says that "that is why we've come to the Vostochny Cosmodrome". Adding that "we will discuss all issues and topics" and that "Kim is showing a big interest in Russian rocket equipment".Coming...
What’s priced in for the Fed outlook ahead of the CPI data today?
The evolution of the Fed funds futures curve over the past month pretty much details that:The US CPI report today will do little to shift the outlook for the remaining FOMC meeting decisions this year. However, it will play a role in determining the market confidence...
Japan’s Matsuno confirms he will remain as chief Cabinet secretary after the reshuffle
Finance minister, Shunichi Suzuki, will also remain in his post while the economy minister post will go to former internal affairs minister, Yoshitaka Shindo. Trade minister, Yatsutoshi Nishimura, is also to remain in his respective post. In essence, there isn't much...
ForexLive Asia-Pacific FX news wrap: USD stronger, but beaten by yuan, EUR
Deel revises its Terms of Service, has cut off some trading sites from paymentsNorth Korea appears to have fired a ballistic missileDeutsche Bank says monetary policy impact transmitting more rapidly in Europe than the USHere's a "cheat sheet" for the European Central...
Deel revises its Terms of Service, has cut off some trading sites from payments
Getting ungated info on this is difficult. From what I have found, Deel has halted payments from several, not all, Prop firms. Deel has temporarily stopped processing payments for many prop firms, even the ones not based in the US or Canada.Deel is a payment...