Since mid-year, any NordFX broker client can take advantage of the automated withdrawal feature. This innovation, among many others, is aimed at further enhancing the quality of service and comfort for the company’s clients. Currently, 84% of withdrawal requests are...
S&P 500 Technical Analysis – Global growth expectations drive the market higher
Fundamental OverviewThe S&P 500 has been on a sustained rally ever since the last FOMC decision with the market continuing to price in a back-to-back 50 bps cut in November. More recently, the PBoC surprised with strong easing measures as Chinese officials seem to...
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SNB chairman Jordan: Swiss franc rise a major factor of inflation decline
But sees no risk of deflationFurther rate cuts might be necessary to ensure price stabilityPrimary tool for the SNB will be interest rates but FX intervention could be used if necessaryThe language is not much changed to that in June really. Back then, they noted...
Germany’s leading economic institutes sees GDP contracting again this year
The joint economic forecasts for the autumn now shows that these institutes are expecting the German economy to shrink by 0.1% in 2024. Their previous forecast was for the German economy to grow by 0.3% this year. The projected drop now will follow from the 0.3%...
Market players add to ECB rate cut odds for the remainder of the year
That follows from the report here. And the odds of a 25 bps rate cut for next month are now at ~80%. As for the remaining two meetings combined (the other in December), traders are seeing ~48 bps of rate cuts in total now. But to be fair, that is just a mild step up...
SNB chairman Jordan: Inflation pressures have decreased significantly in Switzerland
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,...
ECB October policy decision reportedly to be “wide open”
The report says that the doves at the ECB are preparing to fight for a rate cut next month after weighing up the softer economic data as of late. The sources say that the poor PMI data and a slowdown in wages are stirring up confidence among those who are in favour of...
Eurozone August M3 money supply +2.9% vs +2.6% y/y expected
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,...
SNB cuts key policy rate by 25 bps to 1.00% from 1.25% previously
Prior 1.25%Prepared to intervene in FX market as necessaryInflation pressures have again decreased significantly compared to the previous quarterThat reflects the appreciation of the Swiss franc over the last few monthsStronger franc partly contributed to downward...
Gold Technical Analysis – Lack of bearish catalysts leads to new highs
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,...