Eurostoxx +0.2%Germany DAX +0.2%France CAC 40 +0.3%UK FTSE +0.1%Spain IBEX +0.3%Italy FTSE MIB +0.3%This comes as US futures are also in a better mood, with S&P 500 futures up 0.5% currently. That comes despite Treasury yields holding higher as we get things going...
FX option expiries for 2 October 10am New York cut
There aren't any significant expiries to take note of for the day. As such, trading sentiment will likely continue to revolve around the bond market and risk sentiment for the most part. But with it being non-farm payrolls week, just be wary that there will rather...
Market Outlook for the Week of 02 – 06 October
Last week inflation data for the eurozone came in weaker than expected, giving a glimpse of hope that it will continue to drop in the near future. However, overall inflation remains elevated and the rising energy prices might exert additional pressure in the coming...
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S&P 500 Technical Analysis – The start of a new rally?
Last week, the market remained under pressure as the more hawkish than expected FOMC dot plot was still fresh in everyone's mind. The economic data continues to support the soft-landing narrative with Jobless Claims showing a solid labour market and Core PCE trending...
iFX EXPO International 2023 Wraps Up Another Successful Event
The city welcomed over 4,000 fintech professionals from across the world for the event that was held at the City of Dreams Integrated Resort in Limassol, Cyprus, from September 19 to 21, 2023. Running for more than 10 years, iFX EXPO International gives C-suite...
UK September Nationwide house prices 0.0% vs -0.4% m/m expected
Prior -0.8%That's a better than expected reading but UK house price growth remains in the doldrums as higher rates continue to weigh. Nationwide notes that:“Housing market activity remains weak, with just 45,400 mortgages approved for house purchase in August, c.30%...
Manufacturing PMIs coming up in European trading today
It is a brand new week, month, and quarter. 3/4 of the year is gone and we now welcome the month of October. The bond market is still holding all the cards really, as Treasury yields are slowly inching higher. 10-year yields are up to 4.61% today and that is helping...
Gold stays in retreat, set for sixth straight day of losses
Gold (XAU/USD) daily chartThere's no relief for gold as the technical breakdown continues after the drop below $1,900 last week. The fall also took out support from the August lows and leaves a big air pocket between that and the February to March lows near the $1,800...
BOJ announces unscheduled bond purchase operation to slow the rise in bond yields
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,...
Dollar stays poised amid higher bond yields
The dollar regained its composure towards month-end and quarter-end trading on Friday and to start the new week, higher bond yields are likely to keep the greenback steadier. 10-year Treasury yields are up 4 bps to 4.612% and that is underpinning USD/JPY in particular...
Federal Reserve Chair Powell speaks Monday, along with Harker, Williams, Mester
The timings for these are in GMT/US Eastern time:1500/11:00 Federal Reserve Chair Jerome Powell participates in roundtable with workers, small business owners, local employers and community leaders to discuss efforts to redevelop and grow the local economy1500/11:00...
Bank of England speakers on the agenda today include Khan and Mann
On Monday, 2 October 2023:1300 GMT / 09:00 US Eastern time: Speech by Bank of England's Shoib Khan at the Association of Financial Mutuals Annual Conference1500 GMT / 11:00 US Eastern time: Catherine Mann, an external member of the Bank of England's Monetary Policy...
ForexLive Asia-Pacific FX news wrap: Mixed PMIs from China, 45 days funding for US govmt
Major FX rates traded in small ranges during the session. USD/JPY ticked a little higher to an 11-month high above 149.75. From the Bank of Japan today we had the ‘Summary of Opinions’ from the September meeting. If you are not familiar with the Summary, it provides a...
ECB speakers on Monday include Vice President Luis de Guindos
0700 GMT, 0300 US Eastern time: ECB Vice President Luis de Guindos speaks at Foro Empresarial El Diario Vasco in San Sebastián, Spain.The promotional material on what he will be addressing:Rate increases, inflation, bank deposits... Families face an increasingly...
Australian fund manager says there’s a 40% chance of an RBA rate hike in November/December
Dr. Shane Oliver, Head of Investment Strategy and Chief Economist at AMP Capital Investors was speaking with local media, ABC.Says there is a 40% chance of a 25bp interest rate increase from the Reserve Bank of Australia at the November or December meeting. Says this...
Japan finance minister Suzuki says cautiously watching FX moves
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 September ISM manufacturing PMI is on the docket on Monday
The ISM Manufacturing PMI has been in contraction for nearly a year, indeed US manufacturing has been in recessionary territory also. The expectations is for an 11th consecutive month in contraction. During the 2007-2008 Great Recession this indicator recorded a...
China is investigating whether founder of Evergrande attempted to transfer assets offshore
Last week the news hit that China had placed the Chairman of troubled property firm Evergrande 'under police control'.Of all the lovely places in China to spend this holiday week 'under police control' is not one of them. The Wall Street Journal now reports that China...
USD/JPY has hit an 11-month high – when will Japanese officials start gas-bagging?
The USD/JPY range hasn't been much today, but the direction has been up. Above 149.72 and to its highest in 11 mtnhs.Officials from Japan's finance ministry, and the wider government, along with the Bank of Japan have been active in what is sometimes referred to as an...