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,...
Russell 2000 Technical Analysis – The key resistance is now is sight
The market continues to march higher as the war in Israel hasn't spread to other Arab countries. In fact, yesterday the US intelligence has even reported that Iran was surprised by the Hamas attack. This has weighed on Crude Oil prices and eliminated the risk of a...
UK August monthly GDP +0.2% vs +0.2% m/m expected
Prior -0.5%; revised to -0.6%GDP +0.5% vs +0.5% y/y expectedPrior 0.0%; revised to +0.3%A rebound in services sector activity (+0.30%) was the main contributor to the monthly growth in August, while there were declining contributions in both production (-0.09%) and...
Little on the agenda in European trading today
Major currencies are little changed so far after the dollar having traded more mixed yesterday. There were some push and pull flows after the stronger US PPI data and softer Treasury auction, with equities managing to salvage gains in the end as well. But all eyes are...
China bars brokerages from taking on new mainland clients for offshore trading – report
This will be the first of such notice as China is trying to manage outflows of capital it would seem. The report says that Beijing has prohibited domestic brokerages and their overseas branches from accepting new mainland clients for the purpose of offshore trading....
US CPI the main event in trading today
There's no bigger report in markets over the last few months but perhaps the importance of this event has waned a little, especially since major central banks have now opted to pause. And if inflation continues to follow a downtrend, it's a case of everything sticking...
ForexLive Asia-Pacific FX news wrap: Little net change for major FX rates – awaiting CPI
It was a subdued range day across major FX rates with the market here in Asia-Pacific content to wait on the consumer-level inflation data due from the US at 8.30am Eastern time. On Wednesday we got a blowout PPI result delivered in that, wholesale-level inflation...
US CPI data due later Thursday – here is the range of estimates
The PPI released Wednesday was shockingly high:The response in the stockmarket was a shrug:Later today we get the consumer level inflation data:Consensus in the screenshot:The ranges of estimates to take note of are:Headline CPI m/m minimum 0.2% to maximum 0.6%CPI ex...
JP Morgan markets group list a stack of supportive inputs for the stock market
In brief from the markets group at JP Morgan, saying what will support stocks ahead:continue to see growth without inflationled by a still-strong consumer and strong corporate balance sheetsthese will pull earnings higher, against a lower bar of expectationssee...
Federal Reserve speakers Thursday include Logan, Bostic and Collins
I'm having a few tech issues today so a bit of a bare-bones post this one. 1400 GMT / 1000 US Eastern time Logan (Dallas Fed President)1700 GMT / 1300 US Eastern time Bostic (Atlanta Fed President)2000 GMT / 1600 US Eastern time Collins (Boston Fed...
European Central Bank speakers due Thursday
I'm having a few tech issues today so a bit of a bare-bones post this one. Members of the European Central Bank's governing council ahead for the day:0830 GMT / 0430 US Eastern time Villeroy (Governor of Banque de France)1000 GMT / 0600 US Eastern time Knot (President...
China Everbright Group Chairman will be arrested
Earlier this week Li Xiaopeng, former party chief and chairman of China Everbright Group, was expelled from the Chinese Communist Party (CCP) and his post.Reasons cited were severe violations of party discipline and Chinese laws including accepting bribery, illegally...
Mizuho forecasts USD/JPY as high as 155 in Q1 2024
Via Bloomberg comes remarks from Mizuho Americas on USD/JPY, looking for it trade as high as 155 in the first quarter of next year.Citing ongoing very loose monetary policy from the Bank of Japan. Given this USD/JPY won't move lower until their is a shift from other...
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BOJ’s Noguchi says biggest focus is if wage rise momentum will be sustained or not
Bank of Japan policy board member Noguchi: Biggest focus is whether wage hike momentum will be maintained or notRaising of YCC allowance band does not signify a tightening of monetary policyIf central banks hold rate hikes and inflation comes down, the risk of hard...
PBOC sets USD/ CNY reference rate for today at 7.1776 (vs. estimate at 7.2932)
The closing rate was 7.2990The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to...
Bank of England Chief Economist Pill is speaking Thursday 12 October
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,...
BoA says that “The equal weighted S&P could rip” – could do double the S&P 500 gain
BofA Securities head of US equity and quantitative strategy in a Bloomberg TV interview overnight:probably a lot of this good news has been priced ... maybe even overpriced into the Mega-cap tech cohort. Everybody owns these companies, so there's not a lot of buying...
PBOC is expected to set the USD/CNY reference rate at 7.2932 – Reuters estimate
People's Bank of China USD/CNY reference rate is due around 0115 GMT.The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate...
Australian data: Melbourne Institute Consumer Inflation Expectations 4.8% (prior 4.6%)
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,...