It has been a frustrating last two weeks if you're watching the bond market, to say the least. 10-year Treasury yields have trended sideways, not offering much of anything to work with. Since the break above 4.20% earlier this month, yields are capped by the ceiling...
Eurozone February final manufacturing PMI 46.5 vs 46.1 prelim
Prior 46.6Despite Germany's woes, the overall Eurozone manufacturing sector is seeing better days in February. New orders and purchasing activity saw their slowest contractions since March last year, although output held unchanged to January - which was the...
Germany February final manufacturing PMI 42.5 vs 42.3 prelim
Prior 43.1This marks a setback for Germany's manufacturing sector, as the reading is a four-month low. Both output and new orders saw their downturns intensify on the month, with employment conditions also starting to be pressured further. It just reaffirms that...
France February final manufacturing PMI 47.1 vs 46.8 prelim
Prior 43.1A slightly positive revision reaffirms a modest bounce back in activity in France's manufacturing sector. The contractions in output and new orders softened considerably in February while business optimism improved to its best since May last year. HCOB notes...
Gold faces up against a key question towards the end of the week
Gold is down 0.2% to $2,040 after a push earlier to $2,048 levels to start European morning trade. It coincides with a move higher in yields, with 10-year Treasury yields now up 2.8 bps to 4.28% on the day. But perhaps gold's slight retreat is also a more...
Italy February manufacturing PMI 48.7 vs 49.1 expected
Prior 48.5It's just a marginal improvement to January as Italy's manufacturing sector remains in contraction for now. Output and new orders were seen declining again, both down for an eleventh month running. HCOB notes that:“Italy's industry is stuck in a rut with no...
Dollar mixed as major currencies hold little changed on the day
The Japanese yen remains the only decent mover so far today. And even then, USD/JPY is just settling back into its range over the last two weeks as seen here. The rest of the major currencies bloc is once again lacking much desire as we get things going in...
Switzerland February manufacturing PMI 44.0 vs 44.4 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 February manufacturing PMI 51.5 vs 50.0 expected
Prior 49.2This marks a return to growth in Spain's manufacturing sector, bolstered by marginal gains in production and new orders. Employment conditions were also positive while business confidence improved to its highest level in two years. HCOB notes that:“The...
European equities open higher as March trading gets underway
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 March 10am New York cut
There are just a couple of large ones to take note of, as highlighted in bold.They are both for EUR/USD at 1.0800 and 1.0865, which could help to keep price action more limited in the session ahead. However, the euro will be a focus point amid a slew of data releases...
UK February Nationwide house prices +0.7% vs +0.3% m/m expected
Prior +0.7%After the 1.8% fall in house prices in 2023, we are seeing a strong uptick to start off the new year in both January and now February. This sees UK annual house price growth return to positive territory (+1.2%). Nationwide notes that:“The decline in...
GBPUSD Technical Analysis – We are at a key level
USDThe Fed left interest rates unchanged as expected at the last meeting and dropped the tightening bias in the statement.The US PCE came in line with expectations.The US Jobless Claims missed expectations although the data is still in the recent ranges.The latest US...
SNB chairman Thomas Jordan to step down from his position at the end of September 2024
Jordan has been the chairman of the SNB since April 2012. I guess 12 years at the helm is quite a long time to be serving considering that he is also 61 years old this year. His time at the SNB isn't one without drama to say the least. The most prominent case is of...
Eurozone inflation the highlight among a slew of data releases in the session ahead
Major currencies continue to look rather disinterested in trading this week. The dollar remains steady for the most part, despite a drop in yields and a bump higher in stocks overnight. USD/JPY is seeing a strong recovery from 149.20 to 150.40 currently, settling back...
Nikkei closes at fresh record highs to start the new month
Nikkei 225 index monthly chartThe rise in stocks hasn't just been contained to the US and Nvidia. You don't have to look far to see fresh record highs all over the place these days. In Europe, the DAX and CAC 40 are doing just that and in Asia Pacific, we have the...
USD/JPY settles back into range as it runs the other way today
At one point yesterday, it looked like the pair was set for a technical shove to the downside. Sellers threatened a firm break below the lower limit around 149.70-80 after the US PCE price index data. The low even touched 149.20 before a strong rebound saw a recovery...
Japan February consumer confidence index 39.1 vs 38.0 prior
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,...
ForexLive Asia-Pacific FX news wrap: BOJ Gov Ueda spoke, USD/JPY gained
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,...
China Commerce Min to assist firms expand imports amid efforts to boost domestic demand
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,...