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...
UBS cut its year-end gold price forecast to US$1,850 (from $1950 previously)
UBS cuts its projections for gold:End of 2023 forecast is USD 1850prior forecast was $1950June 2024 forecast $1950prior was $2100UBS cites:Downside risks are likely to persist as the landing points for gold’s key drivers remain uncertain. But we recommend those long...
Magnitude 5.5 earthquake, Southeast of Honshu, Japan
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,...
South Korean Finance Min says will actively respond to speculative trading in FX market
South Korean Finance Minister Choo:South Korea will actively respond to speculative trading in the FX marketWill take bond market stabilising measures if neededOn the inflation data just in (CPI accelerated for the 2nd consecutive month and is probably why he is...
Crude oil price: JP Morgan cite demand destruction, while production & stockpiles to grow
A JP Morgan analyst on oil ahead, forecasting a year-end target of $86/barrel:the sharp price rise has resulted in "Demand destruction has begun (again)"(northern) summer driving season coming to a close"global oil stock draws have ended" "Preliminary satellite stock...
South Korea September CPI has come in at 0.6% m/m, higher than the 0.3% 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,...
Former Fed vice chair Clarida says he thinks the FOMC rate hikes are done now
Clarida is now a Pacific Investment Management Co (PIMCO) managing director and the firm's global economic advisor. He spoke in an interview with Bloomberg.In brief:I was in the camp going into the September meeting that we would likely get one more hike in this...
Fitch Ratings on further US “deterioration in governance” but shutdown won’t impact rating
Fitch Ratings downgraded the US back in August. A key determinant at the time was the "deterioration in governance" cited by the agency. Fitch has weighed in on the chaos in the US government that played out most recently just yesterday with the removal of the House...
Forexlive Americas FX news wrap 4Oct: After 30 year yield hits 5%, yields back off
The day started with US yields down marginally after overnight saw the 30-year bond yield touch 5.0% (at 5.01%) before buyers came in and pushed the yield lower. The yield reached the highest level since August 2007 before retreating..The 10-year yield reached 4.884%...
MUFG forecast GBP underperformance, say the Bank of England has overdone tightening
MUFG are of the view that the BoE has already tightened monetary policy too much and that there is thus the potential for UK rates to 'soften' in comparison to other developed market economies. MUFG project GBP to underperform from now, and add that in the case of a...
US Congress chaos – Goldman Sachs says a US shutdown in November is their “base case”
The removal of the US House of Representatives speaker boosts the chances of a US government shutdown in mid-November says Goldman Sachs:All other things equal, the leadership change raises the odds of a government shutdown in November, though with several weeks left...
Was today’s drop in bond yields the circuit breaker we’ve been waiting for?
The headline to this post is an immediate question that popped up when I read this from a Barclays note:“Surging real rates and a stronger dollar are unfriendly to risk assets. Absent a circuit breaker to the bond market, equities may continue to struggle, as rising...
Brent oil drop – ICYMI – Russian media report that Russia may ease diesel exports ban soon
Crude oil prices dropped sharply during Wednesday trade. A report in Kommersant, a nationally distributed daily newspaper published in Russia mostly focusing on politics and business, said that the Russian government is ready to ease a ban on diesel exports in coming...
Coinbase to miss Q3 revenue estimate by 10%, analyst blames low crypto volatility, volumes
Mizuho says that Coinbase will miss current consensus third-quarter revenues by 10%, citing low trading volumes. Crypto volatility has been relatively low this year, partially due to regulatory uncertainty. “We expect dwindling volumes…combined with an expected...
Rebound. Stocks close higher led by the Nasdaq index
The US stock indices retraced some/all of the declines seen this week with a rebound in the major indices. The NASDAQ index led the gains today, and has also erased the losses from Monday and Tuesday's trade. The S&P and Dow are still on pace for a decline this...
Economic calendar in Asia, Thursday, 5 October 2023
None of the data releases below should trigger much movement in forex rates upon release.This snapshot from the ForexLive economic data calendar, access it here.The times in the left-most column are GMT.The numbers in the right-most column are the 'prior' (previous...
Trade ideas thread – Thursday, 5 October 2023
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,...
Xsolla Powers Web Shop Launches For 40 Of The Top 100 Mobile Games
Xsolla, a global video game commerce company, shares insights that 40 of the top 100 mobile games have launched their Web Shop using Xsolla's solution. These insights offer a glimpse into the increasing trend of multiplatform operations in the mobile gaming industry...
US equities race higher as yields and oil cool
Nasdaq Comp dailyThe stock market is feeling some relief from high rates today.US 30-year yields hit a 15-year high today at 5.00% but have since backed all the way off to 4.86%. That's been coupled with falls across the curve with US 2-year rates down 10 bps to...
What is driving the AUDUSD in trading today?
The AUDUSD tested the low from yesterday at 0.62849. The low came up a pip short of that low and bounced.The high for the day was able to extend above the low from last week at 0.6331 on two separate 4-hour bars. However, momentum could not be sustained above the...