The Australian dollar is up a little after the economic growth data showed the slowest q/q in two years:The details capturing the most attention are not encouraging:savings rate fell to its lowest since the December quarter of 2007 (households are saving much less of...
Australian Q3 GDP +0.2% q/q (vs. expected +0.4%)
Data for economic growth in Australia during the July, August & September months of 2023.A q/q miss and y/y beat. The terms of trade fell 2.6% Household saving to income ratio decreased to 1.1% from 2.8%; 1.1% is the lowest proportion of saving since December...
PBOC is expected to set the USD/CNY reference rate at 7.1476 – Reuters estimate
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...
Maduro to order the creation of oil, gas and mining licenses for the Esequibo region
Venezuela's President Nicolás Maduro has announced he is to order the creation of oil, gas and mining licenses for the Esequibo regionalso creating Esequibo divisions of the state owned oil and mining companies PDVSA and CVGMadora announcement on state TV.The area is,...
BMO launches game-changing 4X Leveraged ETNs linked to S&P 500
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,...
BlackRock global chief investment strategist says that rate cut expectations are frothy
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,...
Japanese manufacturers’ sentiment improves: Reuters Tankan survey
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,...
FOMC preview: UBS predicts Fed to be cautious, need to protect progress on inflation.
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,...
Japan considers proposal to exempt companies from tax on unrealized crypto gains
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’s state banks stepped in to support yuan Tuesday, Moody’s downgraded China’s outlook
ICYMI - China's state banks were in the FX market on Tuesday afternoon, intervening to prop up the yuan:major state-owned banks buying yuan and selling US dollars (by swapping yuan for dollars in the onshore swap market, then selling the dollars in the spot...
Australian Industry Index contracts in November, lowest reading since June 2020
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,...
UBS warns of diminishing CHF demand, recommends long USD/CHF position
UBS is wary of diminishing demand for CHF and recommends a 'tactical' long USD/CHF around current levels. Separately analysts at the bank have previewed the Swiss National Bank policy meeting next week (Thursday 14 December), expecting the SNB to remain on hold....
US stock indices close mixed
The major US stock indices are closing with mixed results. The NASDAQ moved higher while the S&P was near unchanged and the Dow Industrial Average closed lower.A snapshot of the closing levels shows:Dow industrial average fell -79.90 points or -0.22% at...
Forexlive Americas FX news wrap: US job openings plunge
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,...
Asian Economic Calendar: Key Events and Consensus Expectations for 06 December 2023
Australian economic growth data for Q3 2023 is the data agenda highlight. Higher interest rates are biting into economic activity, GDP is thus expected to have grown more slowly. This snapshot from the ForexLive economic data calendar, access it here.The times in the...
Trade ideas thread – Wednesday, 6 December, insightful charts, technical analysis, ideas
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,...
NZDUSD tests support at swing level. Traders await price reversal or breakout
The NZDUSD on Monday peaked right near the high from the last time the price was at the levels on July 31 near 0.6221 (see blue numbered circle on the chart below).NZDUSD falls to test support swing eraWilling sellers in the NZDUSD leaned against the level and have...
What Deutsche Bank sees for interest rates and foreign exchange in 2024
Analysts at Deutsche Bank don't see the Federal Reserve cutting rates until June 2024 but they see swift easing in the final five meetings of the year, with rates falling by a cumulative 175 basis points next year.That's a highlight of "The House View" report released...
BofA: Preview for Wednesday’s BOC policy meeting and CAD outlook
Bank of America provides a preview for the upcoming Bank of Canada policy meeting on December 6 and its implications for the Canadian dollar. BofA expects the BOC to maintain its current policy rate, with potential implications for future rate cuts and CAD...
WTI crude oil falls for the fourth day, but holds the November low
WTI crude oil settled down by 72-cents to $72.32 today.It fell as low as $72.17, which was just a cent above the November low. The settlement today is the lowest since July.It was a choppy session as oil bounced from the November low and got some support from higher...