This will be the first in-person summit between China and EU leaders since 2019. We will see Charles Michel, Ursula von der Leyen and Josep Borrell representing the EU while China will be represented by Xi Jinping and Li Qiang.The summit is expected to last for two...
European traders wake up to gold surge ahead of lighter trading session
The dollar is steadier in trading today but remains in a rough spot, especially with USD/JPY threatening a firmer break below its 100-day moving average of 147.22 currently. That is not helped by falling Treasury yields as market players price in big bets on rate cuts...
Gold and Bitcoin have been more or less in sync this year
Here's how the chart overlay looks like:Gold (XAU/USD) vs Bitcoin (BTC) daily chartGold is at fresh all-time highs today, although some profit-taking has seen gains cool off to around $2,087 now - down from around $2,148 earlier in the day. At the same time, we're...
Central banks in focus over the next two weeks
It's only three weeks until Christmas but we're not quite in the holiday mood yet in markets. Instead, the next two weeks are going to be a crucial period still as we have one last round of major central bank monetary policy decisions to go through.Let's get straight...
ForexLive Asia-Pacific FX news wrap: Gold, jump and slump
RBA's December decision: cash rate likely to hold, questions arise for future increasesMorgan Stanley's prediction: Brent crude oil to see strong support at mid $80sReserve Bank of Australia preview - to keep the cash rate on hold, retain tightening biasGold drops...
RBA’s December decision: cash rate likely to hold, questions arise for future increases
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,...
Morgan Stanley’s prediction: Brent crude oil to see strong support at mid $80s
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,...
Reserve Bank of Australia preview – to keep the cash rate on hold, retain tightening bias
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,...
Gold drops $50, back under $2100
Gold extended its Friday run to highs above $2140 during the early Asian morning. Its since tumbled back to be around $2092 as I post.Its been a bit of a choose your own adventure when posing narratives for the moves. I've heard everything ranging from driven by...
PBOC sets USD/ CNY reference rate for today at 7.1011 (vs. estimate at 7.1271)
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,...
Australian data for inventories, home loans and job advertisements
Data from Australia. Australia Company Gross Operating Profits (Q3) -1.3% q/qexpected -0.5%, prior -13.1% Business inventories q/q 1.2%, this large build in inventories will adding notably to economic growth in Q3 (i.e. GDP)expected -0.6%, prior -1.9%Company Profits...
PBOC is expected to set the USD/CNY reference rate at 7.1271 – Reuters model
People's Bank of China USD/CNY reference rate is due around 0115 GMT.The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate...
Australia Melbourne Institute monthly inflation for November +0.3% m/m (prior -0.1%)
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China infectious disease spike: health authorities recommend reducing large gatherings
China's health authorities have recommended reducing large gatherings in public places.China's National Health Commission (NHC) held a press conference on Saturday.Via Chinese Communist Party media outlet Global Times:acute respiratory diseases that are currently...
Go-go gold, Jumps to $2100
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UBS warns on rising central bank interest rates as inflation steps down
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,...
Morgan Stanley warns on headwinds for stocks including weaker earnings, cautious firms
Via a note to clients from Morgan Stanley, Michael Wilson, the firm’s chief U.S. equity strategist has warned on headwinds for further progress on stocks, citing a combination of:weaker earnings revisions breadthcautious corporate commentaryweaker leading survey dataa...
ICYMI – US Senators call for travel ban with China amidst rising respiratory iIlness cases
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 military carries out a strike against Iran-backed drone staging site in Iraq
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US Navy Ship thwarts multiple missile attacks in the Red Sea
The US military has confirmed that there were four attacks against three separate commercial vessels in the Red Se on Sunday, local time. US CENTCOM:USS CARNEY detected an anti-ship ballistic missile attack fired from Houthi controlled areas of Yemen toward the M/V...