According to Reuters, a quant hedge fund trader in southern China said that "our line was unplugged". Adding that orders to sell stocks on the fund's broking platform were rejected. In a similar case, a Shanghai-based quant fund manager said that they could not go...
USDCAD Technical Analysis – Watch what happens around this resistance
USDThe Fed left interest rates unchanged as expected while dropping the tightening bias in the statement but adding a slight pushback against a March rate cut.Fed Chair Powell stressed that they want to see more evidence of inflation falling back to target and that a...
Dollar trades back to little changed as markets remain tentative
The dollar is now trading more mixed but overall little changed against the rest of the major currencies bloc:There are still a couple of key technical developments to be wary about this week though. So, while the moves today are light, it doesn't mean that they don't...
Eurozone December retail sales -1.1% vs -1.0% m/m 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 January construction PMI 48.8 vs 47.3 expected
Prior 46.8The reading still shows a contraction but at least it is the highest since August last year. That shows some improvement in overall activity with the fall in new orders this time around being rather marginal. House building (44.2) remains the worst...
Euro area consumers see lower near-term inflation expectations – ECB survey
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Market Recap – Stocks surge as hopes of rate cuts recede; USD, yields higher
Economic Indicators & Central Banks: Treasury yields elevated and US government bonds remained in a selloff after Fed Chair Powell pointed to fewer interest rate cuts this year than markets had been projecting. Strong ISM services index added to the selloff for...
ECB’s de Cos says confident that inflation is moving back to target
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Germany January construction PMI 36.3 vs 37.0 prior
Prior 37.0The misery continues for Germany's construction sector to start the new year. January observed sustained declines in activity, new orders and employment. Looking at the details, housing activity remained the worst performer alongside a deeper downturn in...
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European equities hold firmer to start the day
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 says expects US economy to avert a mild recession this year
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 December industrial orders +8.9% vs 0.0% m/m expected
Prior +0.3%; revised to 0.0%The volatile stretch in this series looks to be continuing and I'll get to the details for this one in a bit. As a whole in 2023 though, industrial orders were seen down by 5.9% compared to the year before. As for the sharp increase in...
GBPUSD Technical Analysis – We finally broke out of the range
USDThe Fed left interest rates unchanged as expected while dropping the tightening bias in the statement but adding a slight pushback against a March rate cut.Fed Chair Powell stressed that they want to see more evidence of inflation falling back to target and that a...
FX option expiries for 6 February 10am New York cut
There aren't any major expiries to take note of for the day. As such, trading sentiment will continue to revolve around the action in the bond market and risk mood mostly. For now, it seems like the dollar is taking a step back after the gains yesterday.As for the...
Dollar takes a step back ahead of European trading today
The dollar and Treasury yields surged higher after the stronger ISM non-manufacturing report yesterday here. The fact that traders are also considering to pare back further rate cut odds is also a tailwind for the dollar since last Friday. But so far today, we're...
Chinese stocks rebound strongly today but we’ve seen this story before
Both the CSI 300 and Shanghai Composite indices are up by over 3% on the day now as Chinese authorities are stepping in to intervene in the market again. The yuan currency itself also seeing a notable rebound with USD/CNH in particular falling back to near 7.20 after...
Japan PM Kishida reiterates that specific monetary policy decisions are up to the BOJ
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Are traders finally getting on board with the central bank pushback?
The main story in markets coming into this year is that of central banks. To be more specific, it is about rate cuts and when we might get them. Traders were quite optimistic on that front and aggressively priced in rate cuts in the final two months of last year. Now,...
Forexlive Asia-Pacific FX news wrap: RBA holds rates, China market murmurs continue
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,...