Fundamental OverviewGold has been on a sustained rally ever since the last Fed’s decision as real yields fell further due to inflation expectations rising faster than nominal yields. More recently, real yields pulled back a bit, while gold continued to print new...
European equities open higher, spurred on by surging gains in Chinese markets
Eurostoxx +1.2%Germany DAX +1.1%France CAC 40 +1.2%UK FTSE +0.6%Spain IBEX +0.9%Italy FTSE MIB +0.9%This comes as the Shanghai Composite index closes up by 3.6% to close above the 3,000 mark for the first time since June. Meanwhile, the CSI 300 index closes up by a...
Aussie bounces back today on upbeat China sentiment
AUD/USD daily chartThe pair suffered a technical rejection from the June and July 2023 highs near 0.6900 yesterday. But it is seen bouncing back today, gaining further after the Politburo sounded a strong message to support the measures undertaken this week to bolster...
Eurostoxx futures +1.0% in early European trading
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,...
Germany October GfK consumer sentiment -21.2 vs -22.5 expected
Prior -22.0; revised to -21.9The reading is an improvement to the month before. However, in the grand scheme of things, German consumer sentiment remains depressed mostly. GfK notes that:"After the sever setback in the previous month, the slight improvement in...
SNB the main highlight of the agenda in the session ahead
In terms of market pricing, it is literally a 50-50 call at the moment. The OIS market is pricing in an exact split between a 25 bps and 50 bps rate cut currently. So, that's important to take note of even if the "expectation" is for a 25 bps rate cut.The SNB would...
China’s Politburo reaffirms will lower RRR and implement forceful interest rate cuts
Will ensure necessary fiscal spendingWill step up force of counter-cyclical adjustments of fiscal, monetary policiesWill strive to achieve full-year economic, social development targetsTo make efforts to stop falls in property market and to get it stabilisedWill...
Is this the real turning point for Chinese equities?
The index is up 7% on the week currently and looks poised to hold the rallying mood before the Chinese holiday next week. Beijing has made a plethora of announcements and promises this week to try and bolster economic activity. And that is lifting the overall mood,...
Dollar recovers some poise with month-end, quarter-end approaching
And on the week itself, the greenback is now trading more mixed heading into the new day in Europe. The changes today are light but here is how things are playing out so far on the week:% change of major currencies against the US dollarThe commodity currencies are...
ForexLive Asia-Pacific FX news wrap: China considering $142bn bank capital injection
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,...
Federal Reserve speakers on Thursday include Powell and Williams, dissenter Bowman also
Listen out for clues about the next rate cut from the Federal Open Market Committee (FOMC). Expectatins are currently solidifying around a 50bp cut again at the November meeting. The times given below are US Eastern time / GMT:0910/1310 Federal Reserve Bank of Boston...
More on China considering a 1 trillion yuan injections of capital into banks
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Bank of America say Sterling has more room to rise
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,...
Reports that China is considering injecting US$142bn of capital into top banks
China news headline from Bloomberg and Reuters.China injected capital into big banks during the global financial crisis back in 2008. That was the last time it did so. Pondering doing it again now. This sort of stuff is very positive for 'risk', at least for a trade....
USD/JPY tested towards 145.00
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RBA says around 2% of owner occupiers in real danger of defaulting
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PBOC sets USD/ CNY reference rate for today at 7.0354 (vs. estimate at 7.0367)
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ECB President Christine Lagarde and key board member Schnabel are speaking Thursday
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Heads up for U.S. Treasury Secretary Janet Yellen speaking on Thursday
U.S. Treasury Secretary Janet Yellen is speaking before the 2024 Treasury Market Conference on Thursday, September 26, 2024. scheduled for 1120 US Eastern time (this is 1520 GMT) The event is hosted by the Federal Reserve Bank of New York.Yellen was Federal Reserve...
PBOC is expected to set the USD/CNY reference rate at 7.0367 – Reuters estimate
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,...