This relates to their respective company strategies for the fiscal year ending in March, with Nippon Life stating that they will focus purchases on 30-year JGBs as the current yield of above 1.8% is "good in terms of absolute level". But they do add that now is "not...
AUDUSD Technical Analysis – Another opportunity for the sellers
USThe Fed left interest rates unchanged as expected at the last meeting.The macroeconomic projections were revised higher, and the Dot Plot showed that the FOMC still expects another rate hike by the end of the year with less rate cuts projected in 2024.Fed Chair...
Brandenburg October CPI +4.6% vs +5.6% y/y prior
The German state readings are supposedly only due on Monday next week, so this is a surprise early release. The annual reading points to a further softening in price pressures but they are still largely elevated as a whole. The monthly reading also shows another 0.3%...
Major currencies little changed amid a more mixed market mood
The dollar is little changed at the moment and trading more mixed as traders are not having very much to work with as we get the session underway. The ranges for the day are still relatively narrow for most dollar pairs although there are plenty of moving parts to...
USDJPY Technical Analysis – This is a crucial moment for the pair
USThe Fed left interest rates unchanged as expected at the last meeting.The macroeconomic projections were revised higher, and the Dot Plot showed that the FOMC still expects another rate hike by the end of the year with less rate cuts projected in 2024.Fed Chair...
Market Update – October 27 – Investors poised for weekly profits;
Stock market sentiment improved, and Asian equities bounced, alongside gains in European and US futures. Earnings reports helped tech stocks to stabilise, ahead of more key US data. The 10-year Treasury yield is up 3.2 bp at 4.88%, after strong GDP numbers yesterday....
European equities just lightly changed at the open
Eurostoxx flatGermany DAX +0.1%France CAC 40 flatUK FTSE -0.1%Spain IBEX +0.5%Italy FTSE MIB +0.1%S&P 500 futures have also trimmed gains to 0.4%, still largely driven by tech shares, while Dow futures are now up by just 0.1% on the day. The slight relief from...
Spain Q3 preliminary GDP +0.3% vs +0.2% q/q expected
Prior +0.5%; revised to +0.4%GDP +1.8% vs +1.6% y/y expectedPrior +2.2%; revised to +2.0%That's a decent showing by the Spanish economy in the last quarter, one of the few bright spots in Europe these days. That said, there is a slightly lower revision to the...
France October consumer confidence 84 vs 83 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,...
FX option expiries for 27 October 10am New York cut
There are a couple to take note of on the day, as highlighted in bold.The one that stands out the most is that of USD/JPY at 150.00 with the size of over $5 billion. That's one of the largest expiries in recent memory and it comes at a rather crucial level for the...
USDCAD Technical Analysis – Watch what happens around this key level
USThe Fed left interest rates unchanged as expected at the last meeting.The macroeconomic projections were revised higher, and the Dot Plot showed that the FOMC still expects another rate hike by the end of the year with less rate cuts projected in 2024.Fed Chair...
Equities look to salvage some pride before the end of the week
It owes to some slight relief after Intel and Amazon reported better earnings, with Nasdaq futures seen up 0.8% currently. But that still pales in comparison to the 1.8% drop yesterday, in which the index took out its 200-day moving average (blue line) as well:Nasdaq...
Japan (Tokyo) core inflation jumped in October – questions raised about BOJ negative rates
The data is here ICYMI:And, yep, the 'core' (i.e. excluding fresh food), came in higher than expected. Reuters have a recap up that's worth checking out:Marcel Thieliant, head of Asia-Pacific at Capital Economics "With services inflation continuing to accelerate, it...
ForexLive Asia-Pacific FX news wrap: US strikes in Syria against Iran-backed targets
Major FX rates tracked subdued ranges during the session here with traders content to wait on the latest inflation indication data due from the US later today (US core PCE coming up at 8.30 am US Eastern time). Following on from the European Central Bank decision and...
NZD traders heads up: RBNZ Deputy Governor Hawkesby will give be speaking over the weekend
Reserve Bank of New Zealand Deputy Governor Christian Hawkesby will join a panel discussion by University of Canterbury (UC) economics graduates on UC alumni weekend.The topic is:The New Zealand economy: current and future issuesThis is scheduled for Saturday 12:00pm...
Oil is moving higher – watch out for the Middle East weekend risk premium
Going into the previous weekend I pointed out that traders are wary of a Saturday or Sunday ground war breakout in Gaza. The signals we've been getting all week are that the ground war move has been delayed, but it's a bit of "they would say that wouldn't they" that...
Huge social media chatter that Putin is dead (spoiler – he is not)
Via the UK's Daily Mail:The Kremlin has issued an extraordinary denial to the 'lies' that Vladimir Putin, 71, had 'died at his luxury Valdia forest palace' - amid claims a 'coup' was underway in Moscow. This comes after a Telegram channel, which has claimed for months...
US military has carried out strikes in Iran-backed targets in Syria
> US military has carried out strikes in Iran-backed targets in Syria <!--> --> <!--> --> Pentagon statement: Strikes are in retaliation for attacks on US forces in recent days US President Biden ordered strikes against two facilities in Syria...
US core PCE inflation indicator is due Friday – what’s expected
The Core Personal Consumption Expenditures (Core PCE) data is due at 1230 GMT, which is 0830 US Eastern time:You can see the median consensus estimates for the y/y and m/m below.The ranges of estimates are:for the y/y 3.5 to 3.8for the m/m 0.2 to 0.3The Core Personal...
China September Industrial Profits +11.9% y/y
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,...