Fundamental OverviewThe US Dollar got a bit of a boost yesterday as Fed Chair Powell reiterated that 50 bps of easing by year end remains the base case. The market’s probability for the Fed to cut by 50 bps in November fell from 51% to 40%.Moreover, overnight the BoJ...
Eurozone September preliminary CPI +1.8% vs +1.8% 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,...
UK September final manufacturing PMI 51.5 vs. 51.5 prelim
Final Manufacturing PMI 51.5 vs. 51.5 expected and 52.5 prior.Key findings:Growth of output and new orders ease slightly. Business confidence down to nine-month low.Comment:Rob Dobson, Director at S&P Global Market Intelligence:“The UK manufacturing sector is...
ECB’s Rehn: The scale is tipping towards a 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,...
US, China reportedly set to hold talks on trade and economic ties
The report is via China's Xinhua news agency, which says that China commerce minister Wang Wentao will be holding a call with his US counterpart some time in the near future. The call is said to involve discussing trade and economic ties, according to people familiar...
ECB’s Rehn: Direction of monetary policy is clear
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,...
Eurozone September final manufacturing PMI 45.0 vs 44.8 prelim
Prior 45.8The manufacturing sector woes continue in the euro area, largely thanks to Germany. The region's backbone continues to see its industry suffer and that is weighing further on overall sentiment. Both new orders and output were seen declining at their fastest...
Germany September final manufacturing PMI 40.6 vs 40.3 prelim
Final Manufacturing PMI 40.6 vs. 40.3 expected and 42.4 prior.Key findings:HCOB Germany Manufacturing PMI at 40.6 (Aug: 42.4). 12-month low. HCOB Germany Manufacturing PMI Output Index at 41.3 (Aug: 42.8). 11-month low. Expectations turn negative as confidence...
France September final manufacturing PMI 44.6 vs 44.0 prelim
Prior 43.9There is a slight revision higher to the initial estimate but it still points to a downturn in France's industrial sector at the end of Q3. Both output and new orders continue to show deep declines but at least the pace of that is easing. HCOB notes...
Italy September manufacturing PMI 48.3 vs. 49.0 expected
Manufacturing PMI 48.3 vs. 49.0 expected and 49.4 prior.Key findings:Sharper decline in production volumes in September. Total new orders down markedly, with exports falling sharply. Cost pressures cool notably, while charges discounted slightly.Comment:Commenting on...
Japan prime minister Ishiba unveils new Cabinet members
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,...
Switzerland September manufacturing PMI 49.9 vs 48.0 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,...
Spain September manufacturing PMI 53.0 vs 50.2 expected
Manufacturing PMI 53.0 vs. 50.2 expected and 50.5 prior.Key findings:Solid gains in both output and new orders signalled. Return to growth in employment. First cut in output charges since April.Comment:Commenting on the PMI data, Jonas Feldhusen, Junior Economist at...
European equities a little mixed at the open today
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,...
Deutsche see ECB cutting rates in October with potential for a 50 bps move in December
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,...
FX option expiries for 1 October 10am New York cut
There is just one to take note of on the day, as highlighted in bold.That being for EUR/USD at the 1.1100 level. The price action since last week shows that it might take a bit to travel there but if it does, the expiries will act as a bit of a defensive layer...
Japan top FX diplomat says yen shorts that had been built up until July have been unwound
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,...
The dollar long con
As the Fed looks to cut interest rates further, the general thinking is that it should weigh on the US dollar. But with traders pricing in ~163 bps of rate cuts by June next year, is there really much more to squeeze out of this trade?If the Fed goes by 25 bps every...
Close but no cigar again for EUR/USD buyers
EUR/USD hourly chartThe pair tried to seek a firm break above 1.1200 three times in September but failed, similar to the previous and first attempt this year back in August. The figure level remains a stubborn point where sellers are leaning on in keeping price action...
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