US Core PCE YoYBy cutting rates 50 basis points, the Fed has declared something of a victory over inflation but there is still some problematic inflation, particularly around insurance, healthcare and housing. With China stimulating this week, next year might not be...
ForexLive European FX news wrap: Japanese yen surges as Ishiba wins PM contest
Headlines:Markets:JPY leads, GBP lags on the dayEuropean equities higher; S&P 500 futures down 0.1%US 10-year yields down 0.4 bps to 3.784%Gold down 0.1% to $2,667.98WTI Crude up 0.2% to $67.82Bitcoin up 1.1% to $65,410Shigeru Ishiba finally won Japan's top job,...
Goldman Sachs the latest to change their call on the ECB, now expects rate cut in 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,...
USDCAD Technical Analysis – Just a pullback or a reversal?
Fundamental OverviewThe USD remains under pressure amid the aggressive market pricing for rate cuts and better global growth expectations following the recent huge Chinese easing measures. It’s now a battle between global growth supporting the risk sentiment and...
BNP Paribas revises call and sees the ECB cutting rates in October now
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UK September CBI retailing reported sales 4 vs -27 prior
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GBPUSD Technical Analysis – The greenback pressure persists
Fundamental OverviewThe USD remains under pressure amid the aggressive market pricing for rate cuts and better global growth expectations following the recent huge Chinese easing measures. It’s now a battle between global growth supporting the risk sentiment and...
Incoming Japan prime minister Ishiba: We must ensure exit from deflation
Aims to accelerate incumbent prime minister Kishida's new capitalism pledgeWill consider appropriate timing for lower house electionRevitalising consumption is key for Japan to emerge from deflationary spiralMust scrutinise what will be the most effective step to...
Eurozone September final consumer confidence -12.9 vs -12.9 prelim
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EURUSD Technical Analysis – Can’t break above the 1.12 handle
Fundamental OverviewThe USD remains under pressure amid the aggressive market pricing for rate cuts and better global growth expectations following the recent huge Chinese easing measures. It’s now a battle between global growth supporting the risk sentiment and...
Germany September unemployment change 17k vs 12k expected
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USDJPY Technical Analysis – Rollercoaster day amid Japanese elections
Fundamental OverviewThe USDJPY pair this morning has been on a rollercoaster. Initially, we got a rally following the soft Tokyo CPI numbers and then Takaichi winning the first round of votes in the Japanese election. Things turned around quickly in the run-off as...
EUR/USD looks to settle lower in back and forth trading this week
The pair is now down 0.4% on the day to 1.1135 after the softer inflation numbers for France and Spain earlier. That is seeing traders step up ECB rate cut odds for October, with the futures market pricing in a ~91% probability for a 25 bps rate cut. Meanwhile, the...
Spain September preliminary CPI +1.5% vs +1.9% y/y expected
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Spain Q2 final GDP +0.8% vs +0.8% q/q prelim
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France September preliminary CPI +1.2% vs +1.6% y/y expected
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Japanese yen surges as Ishiba wins leadership race to become next Japan prime minister
USD/JPY 15-minute chartWhen Takaichi won the first round of votes, it led USD/JPY to leg up higher to above 146.00. But in the head-to-head vote against Ishiba, she lost out and that's resulting in a massive turnaround in USD/JPY now. The pair has tumbled from around...
Shigeru Ishiba wins LDP leadership race run-off, will be Japan’s next prime minister
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Shanghai, Shenzhen reportedly to lift key remaining home purchase curbs to boost market
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USD/JPY gains further as Japan LDP leadership race heads to a run-off
USD/JPY daily chartThe results of the run-off vote should be in the next hour and it's still a close call now, with ex-environment minister Koizumi bowing out. The Nikkei is happy with the results so far at least, rallying further on the day. And that is weighing on...