Fundamental OverviewGold has been rallying steadily this week since bouncing from the bottom of the recent range. The soft US Job Openings on Wednesday gave it the tailwind to push into the key resistance around the 2530 level. This move has been driven by falling...
Risk on the retreat as bond yields fall
The angst in markets is certainly showing up early today. S&P 500 futures are now down 0.7% and Nasdaq futures down 1.2%. This comes as bond yields are dipping, with 10-year yields in the US falling to below 3.70% - down 3.8 bps on the day.It's all positioning...
USD/JPY extends fall alongside bond yields to start the session
USD/JPY vs US Treasury 10-year yields (%) hourly chart10-year Treasury yields are now down nearly 4 bps to under 3.70% and that is adding some weight to USD/JPY. The pair is now dragged down by 0.9% to near 142.00 with the 5 August low of 141.68 in focus. Equities are...
European equities open slightly lower to kick start the day
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France July trade balance -€5.88 billion vs -€6.09 billion prior
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Germany July industrial production -2.4% vs -0.3% m/m expected
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Germany July trade balance €16.8 billion vs €21.0 billion expected
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UK August Halifax house prices +0.3% vs +0.2% m/m expected
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A couple of items to move things along in European trading today
USD/JPY is on the move to start the day, down another 0.5% to 142.70 currently. The pair is trickling lower, vying for a stronger technical breakdown as yields are also pressured lower on the week. That follows from the mix of US data yesterday.Besides that, the...
Japan July leading indicator index 109.5 vs 108.6 prior
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We’ve seen the flop and the turn, it is now on to the river
With so much scrutiny on the US labour market at the moment, it doesn't come any bigger than jobs Friday. The non-farm payrolls data is going to be key in deciding how markets end the week. And it won't be just the headline number, the details are going to matter too...
USD/JPY trickles lower as traders turn to non-farm payrolls report next
USD/JPY daily chartThe pair is down another 0.3% today to just under 143.00 now, revisiting the overnight lows right after the US ADP employment change here. The thing is, the bond market is now convinced of a softer turn in the labour market and is pricing in more...
ForexLive Asia-Pacific FX news wrap: Awaiting the US jobs (NFP) report
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Japanese household spending rose less than expected in July – recap
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Fed speakers today include Williams and Waller – then the ‘blackout’ period begins
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Chinese banks used swaps to build short positions in the dollar of around US$100 billion
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Federal Open Market Committee (FOMC) blackout period begins on the weekend
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Australian July home loans +2.9% m/m (expected +1.0%)
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Friday morning trade has been cancelled in Hong Kong due massive storm
HKEX will not trade this morning. Hong Kong Exchange and Clearing is the operator of the city’s stock exchange. Its cancelled morning trade in the securities and derivatives market after the city issued a Tropical Cyclone WarningLatest reports are that the warning...
PBOC sets USD/ CNY reference rate for today at 7.0925 (vs. estimate at 7.0927)
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