Rebounding from some pivotal, psychological levels, the vast majority of world equity indices rose yesterday, helped by a decrease in yields. Buying in the US intensified in the last minutes of trading led by large-cap techs such as TSLA (+5.93%), MSFT & AMZN....
Germany September construction PMI 39.3 vs 41.5 prior
Prior 41.5This marks the quickest fall in German construction activity in 3½ years as business confidence also plunges to a near-record low. A further slump in demand led to a sharp fall in purchasing activity but at least it did help to ease price pressures. Once...
Dollar steadies as yields inch up a little
The dollar is mostly little changed against the euro and pound while we are seeing USD/JPY recover some poise in a push back to 148.90 levels now, up from the lows near 148.30 in Asia. This comes as 10-year Treasury yields are inching up to 4.75% from around 4.71%...
S&P 500 Technical Analysis – We are at a key level
The miss in the ADP report yesterday gave the market a bit of relief after a series of strong economic data like Jobless Claims, ISM Manufacturing PMI and Job Openings. The ISM services PMI has also printed bang on expectations, and coupled with the other reports,...
Russell 2000 Technical Analysis – Watch what happens around this key support
The miss in the ADP report yesterday gave the market a bit of relief after a series of strong economic data like Jobless Claims, ISM Manufacturing PMI and Job Openings. The ISM services PMI has also printed bang on expectations, and coupled with the other reports,...
Germany August trade balance €16.6 billion vs €15.0 billion 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 5 October 10am New York cut
There are a couple to take note of, as highlighted in bold.That being decent-sized expiries for EUR/USD at 1.0500 and USD/JPY at 149.00. However, I don't really see them as being too significant as trading sentiment is largely dictated by price action in the bond...
Yields come off the boil, US jobs report comes into focus
10-year Treasury yields are now down to 4.71% after hitting a high of 4.88% early yesterday. The 17 bps retreat has been a catalyst for stocks to gather some reprieve and for the US dollar to retreat across the board as well. It's still a volatile mess in broader...
Fed speakers Thursday include Mester, Kashkari, and Barkin
Given the topics it would appear Barkin is most likely to provide market-relevant comments. 1300 GMT / 0900 US Eastern time - Federal Reserve Bank of Cleveland President Loretta Mester gives brief opening remarks before the Chicago Payments Symposium hosted by the...
ForexLive Asia-Pacific FX news wrap: USD slid further
Japan Prime Minister Kishida spoke to unions, said he'd make wage rise surge sustainableECB and Riksbank speakers on Thursday, 5 October 2023Tsunami alert issued for area of Eastern Japan coast after Magnitude 6.6 earthquakeCiti raised its growth forecast for China to...
Japan Prime Minister Kishida spoke to unions, said he’d make wage rise surge sustainable
Japanese Prime Minister Kishida spoke at the convention of Japan’s confederation of labor unions. This is an unusual move for a PM from Kishida's side of the political fence. He's the first PM from the Liberal Democratic Party to speak at the biennial Rengo event...
ECB and Riksbank speakers on Thursday, 5 October 2023
Coming up today:0800 GMT / 0400 US Eastern time: ECB Governing Council member Peter Kazimir speaks at the National Bank of Slovakia's quarterly press conference on the economic outlook for Slovakia0945 GMT / 0545 US Eastern time: Participation by ECB board member...
Tsunami alert issued for area of Eastern Japan coast after Magnitude 6.6 earthquake
M6.6 earthquake off Japan's east coastdepth 10kmThe tsunami alert says it expected to coma ashore in the next hour or sowaves of up to 1 metre are possible for the Izu islandsareas of the Pacific coast could see slight sea level changes of up to 20 centimetersEMSC...
Citi raised its growth forecast for China to 5% this year (from 4.7%)
Bloomberg (gated) reported on CitiGroup upgrading its forecast for China's economic growth in 2023. In brief:Retail sales and industrial production may improveChina's export contraction could also narrow after official manufacturing surveys expanded for the first time...
Gotobi Day being cited as a reason USD/JPY has fallen in Asia trade today
Let me preface this by saying I think this is an example of a narrative being backfitted to a move. Anyway ..."Gotobi" refers to the practice in Japan of making certain payments on specific days of the month. The term "gotobi" can be translated as "every fifth day."...
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USD losing ground in Asia trade
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,...
ICYMI – Italy’s Economy Minister Giorgetti questioned how realistic the ECB 2% target is
Italy's Economy Minister Giorgetti spoke on Wednesday, dismissing some media report that Italy was at risk of a sovereign debt downgrade:"Is Italy at risk of a sovereign rating downgrade? 'These are headlines, you as journalists rightly believe them, I have a...
Australian data: August Exports +4% m/m (prior -2%) & Imports 0% m/m (prior +3.%)
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,...
New Zealand Sep. Commodity Price Index +1.3% m/m (prior -2.9%). First rise in 3 months.
ANZ World Commodity Price Index recorded its first lift in three months in September +1.3% m/mprior -2.9%In local currency terms, +2.0% m/m with the NZD depreciating 0.1% against its Trade Weighted Index---As part of their monthly report ANZ include commentary on...