The big upward revision to Q3 GDP to a 5.2% growth rate was generally taken in stride. Treasury yields remain lower, with the front end down sharply, even after plunging yesterday on the dovish read to Fedspeak from Governor Waller who was once one of the most...
EURUSD weakens as German CPI disappoints, paving the way for EU CPI data tomorrow
The German preliminary CPI data released today was weaker than anticipated, showing a -0.4% decline compared to the expected -0.1%. On a year-on-year basis, it stood at 3.2%, lower than the forecasted 3.5%. This outcome could positively influence the upcoming CPI data...
US wholesale inventories for October -0.2% versus 0.1% 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,...
US advanced goods trade balance for October -$89.84 billion vs. -$86.4 billion estimate
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US Q3 GDP (second estimate) 5.2% vs 5.0% expected
Advanced reading was +4.9% Q2 final reading was +2.1%Personal consumption +3.6 vs +4.0% advance readingCore PCE prices +2.3 vs +2.4% expectedPCE prices +2.8% vs +2.9% advanceGDP deflator +3.5% vs +3.5% expectedGDP final sales +3.7% vs +3.5% advancedCorporate profits...
Canada Q3 current account balance -$3.22B vs $1.00B expected
Prior was -$6.63B (revised to -$7.328B)Canada’s current account deficit narrowed significantly to $3.2 billion in Q3 2023, down from larger deficits earlier in the year but still far larger than expected.Goods posted a slight surplus in contrast to the large deficit...
The NZD is the strongest and the AUD is the weakest as the NA session begins
The strongest to the weakest of the major currenciesAs a North American session begins, the NZD and the AUD is the weakest.The USD is mixed with modest changes with the exception of a 0.36% gain vs the AUD and a -0.31% loss vs the NZD in the morning snapshot. The RBNZ...
Germany November preliminary CPI +3.2% vs +3.5% y/y expected
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ForexLive European FX news wrap: Brief respite for the dollar, stocks finally waking up
Headlines:Markets:NZD leads, AUD lags on the dayEuropean equities higher; S&P 500 futures up 0.4%US 10-year yields down 4.8 bps to 4.288%Gold down 0.1% to $2,039.32WTI crude up 1.9% to $77.85Bitcoin up 0.8% to $38,255The story of the day is that bond yields...
Dollar steadies but is the relief just temporary?
The dollar is surprisingly finding some steadier footing in European trading now, with USD/JPY itself up 0.15% to 147.70 on the day. That's quite a modest recovery from the low of 146.90 in Asia trading. Meanwhile, EUR/USD is also down 0.1% to 1.0980 and AUD/USD down...
Stocks look to make up for lost ground from earlier this week
You would think that with the plunge in bond yields this week, equities would've been on a tear and entering a strong rally mode. Instead, it has been anything but in the last two days. And only now in European trading are we seeing some tentative signs of stronger...
US MBA mortgage applications w.e. 24 November +0.3% vs +3.0% prior
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OECD sees global growth slowing further but hard landing to be avoided
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 November final consumer confidence -16.9 vs -16.9 prelim
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UK October mortgage approvals 47.38k vs 45.00k expected
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No delay currently expected to OPEC+ meeting tomorrow – report
The sources also say that negotiations are still ongoing "but no delay is expected". This comes after some murmurs yesterday that there could be a further delay, after having seen disagreements over output quotas for African producers. The sources say that the group...
Saxony November CPI +3.9% vs +4.5% y/y prior
The reading is out much earlier than expected, with the headlines captured by Reuters. The monthly reading shows a 0.3% decline in consumer prices. Put together with the other state readings, we might see German headline annual inflation come in between 2.9% and 3.2%,...
Bavaria November CPI +2.8% vs +3.7% y/y prior
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Switzerland November Credit Suisse investor sentiment -29.6 vs -37.8 prior
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Market Recap: Dollar slumped; Gold & Oil supported on rising Fed rate cut bets
Economic Indicators & Central Banks : US consumer confidence improved better than expected, but it follows big downward revisions to October. The consumer confidence rise joins a Michigan sentiment decline to a 6-month low. All the surveys face headwinds from...