Forex News Live Today: The Ultimate Source for Forex News ☀️

Crude oil processing in China down year on year for six months in a row – Commerzbank

Oct 22, 2024 | 04:54 am

Chinese oil refineries processed 58.7 million tons of crude oil in September, Commerzbank’s commodity analyst Carsten Fritsch notes.

Hindustan Unilever Elliott Wave technical analysis [Video]

Oct 22, 2024 | 04:53 am

Function: Larger Degree Trend Higher (Intermediate degree, orange) Mode: Motive Structure: Impulse Position: Minute Wave ((iii)) Navy Details: Minute Wave ((iii)) Navy is progressing higher within Minor Wave 3 Grey of Intermediate Wave (5) Orange against 2425.

USD/CAD: CAD remains weak and oversold – Scotiabank

Oct 22, 2024 | 04:51 am

The Canadian Dollar (CAD) has had a minor reprieve this morning as it holds little changed on the session but some 20 ticks above yesterday’s low against the USD in the mid-1.38s, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

Oil prices decline sharply on a weekly basis – Commerzbank

Oct 22, 2024 | 04:38 am

The Brent oil price fell by 7.6% last week, its strongest weekly loss since early September, Commerzbank’s commodity analyst Carsten Fritsch notes.

Gold extends uptrend as Middle East conflict rages on

Oct 22, 2024 | 04:31 am

Gold (XAU/USD) continues higher after the briefest of pullbacks to trade once more in the $2,730s on Tuesday.

Forexlive European FX news wrap: Choppy price action amid lack of catalysts

Oct 22, 2024 | 04:31 am

Stocks dribble lower in European morning tradeMajor currencies not doing much so far on the sessionBonds under the spotlight with little else to focus onEuropean equities mostly a touch softer at the open todayWhat are the main events for today?Eurostoxx futures +0.1% in early European tradingFX option expiries for 22 October 10am New York cutBOE chief economist lambasts ONS over poor jobs data qualityChinese equities continue to look more pensive this weekUSD/JPY underpinned by higher yields, faces up against key resistance levels nowBOJ Executive Director Kato - not targeting FX levelsUSD/JPY above 150.90 again after meek comments from JapanMarkets:NZD leads, JPY lags on the dayEuropean equities lower; S&P 500 futures down 0.45%US 10-year yields up 1 bps to 4.206% Gold up 0.61% to $2,735WTI crude up 0.94% to $71.22Bitcoin down 0.08% to $67,300It’s been another slow session as the lack of key economic releases and limited news flow kept the price action pretty rangebound. The US Dollar continues to get some support from higher Treasury yields and if the recent days is something to go by, we might see some more legs higher in the US session.Gold erased all of the yesterdays’ decline and it’s now trading right near the all-time high. It’s been ignoring the rise in real yields, so it will be interesting to see who gives in. In the equity markets, we continue to see some consolidation around the highs as the markets are probably looking for catalysts to push into new highs and for now are getting pressures by higher yields. Unfortunately, we have to wait until Thursday to get some market moving data with the releases of the Flash US PMIs and the US Jobless Claims. For now, it’s more about capital preservation until we get to one of the most important events of the year in November, that is the US election. There’s a good argument that the markets have been already positioning into a Trump victory.Time will tell. This article was written by Giuseppe Dellamotta at www.forexlive.com.

Crude Oil struggles to hold $70.00 as markets become more bearish

Oct 22, 2024 | 04:30 am

Crude Oil struggles to hold ground and orbits around the $70.00 level on Tuesday. The pressure on Oil’s price comes from markets repricing the US Federal Reserve (Fed) interest rate cut projections in the near future. With decreasing odds of an aggressive

Mexican Peso pauses after run of down days for emerging market assets

Oct 22, 2024 | 04:29 am

The Mexican Peso (MXN) pauses on Tuesday after a multiple-day run of weakness in its key pairs.

USD remains firm but gains slow – Scotiabank

Oct 22, 2024 | 04:26 am

The US Dollar (usd) is trading flatter against its major currency peers as DXY gains show some—tentative—signs of stalling around the 104 area (which was the upper end of the range I suggested the DXY could reach at the start of the month as the index started to show signs of gaining momentum), Scotiabank’s Chief FX Strategist Shaun Osborne notes.

Pound Sterling Price News and Forecast: GBP/USD trades dangerously close to key support area [Video]

Oct 22, 2024 | 04:24 am

Following a two-day recovery, GBP/USD turned south on Monday and lost 0.5% on the day.

AUD/USD bounces back from 0.6650 on firm RBA hawkish bets

Oct 22, 2024 | 04:22 am

The AUD/USD pair rebounds strongly from the key support of 0.6650 in Tuesday’s European session.

The Coca-Cola Company (KO) Elliott Wave technical analysis [Video]

Oct 22, 2024 | 04:08 am

Function: Counter Trend. Mode: Corrective. Structure: Complex.

Silver price at 12-year high – Commerzbank

Oct 22, 2024 | 04:00 am

For some time, Silver lagged behind the rise in the price of Gold, Commerzbank’s commodity analyst Carsten Fritsch notes.

US Dollar supported as markets cool down Fed’s rate cut cycle prospects

Oct 22, 2024 | 04:00 am

The US Dollar (USD) slightly retraces on Tuesday following a small sprint higher on Monday that drove the US Dollar Index (DXY), which gauges Greenback’s value against six major currencies, to a fresh 11-week high after US equities retreated from their all-time highs.

Pound Sterling wobbles ahead of BoE Bailey’s speech

Oct 22, 2024 | 03:46 am

The Pound Sterling (GBP) continues to hold the key support of 1.2970 against the US Dollar (USD) in Tuesday’s London session.

Gold price continues to rise from record to record – Commerzbank

Oct 22, 2024 | 03:45 am

The Gold price started the new trading week where it left off the previous week, with a rise to a new record high of currently $2,740 per troy ounce.

EUR/USD languishes ahead of ECB Lagarde's speech

Oct 22, 2024 | 03:34 am

EUR/USD trades close to a fresh 11-week low near the round-level support of 1.0800 in Tuesday’s European session.

Is the euro going to be knocked out? – Commerzbank

Oct 22, 2024 | 03:30 am

At the moment, most movement in EUR/USD is US Dollar (USD) driven, and he cited the reasons for this.

USD/CNH: To edge higher to 7.1500 before levelling off – UOB Group

Oct 22, 2024 | 03:16 am

Room for the US Dollar (USD) to edge higher to 7.1500 before levelling off.

USD/JPY: Can break above the major resistance at 151.00 – UOB

Oct 22, 2024 | 03:07 am

The US Dollar (USD) could break above the major resistance at 151.00, but it might not be able to maintain a foothold above this level.

China growth should remain steady – DBS

Oct 22, 2024 | 03:07 am

This week’s featured insight is GDP Nowcast, which is best viewed as an estimate of real GDP growth based on available economic data and forecasts for the current quarter, DBS’ economists Samuel Tse and Daisy Sharma notes.

USD/CAD trades sideways as BoC policy takes centre stage

Oct 22, 2024 | 03:06 am

The USD/CAD pair consolidates in a tight range above the round-level support of 1.3800 in Tuesday’s European session.

Shanghai Composite Index Elliott Wave technical analysis [Video]

Oct 22, 2024 | 02:53 am

Function: Counter Trend. Mode: Corrective. Structure: Orange wave 2.

USD/CNH: A sudden weakness amid USD strength – DBS

Oct 22, 2024 | 02:51 am

China cut the 1Y and 5Y LPR by 25bps on Monday to 3.10% and 3.60% respectively.

NZD/USD: Unlikely to break clearly below 0.6005 – UOB Group

Oct 22, 2024 | 02:47 am

Potential for the New Zealand Dollar (NZD) to continue to decline; given the oversold conditions, it is unlikely to break clearly below 0.6005.

A resurgent Trump and higher USD – DBS

Oct 22, 2024 | 02:43 am

US election risks are dominating markets amid a resurgent Trump.

Stocks dribble lower in European morning trade

Oct 22, 2024 | 02:41 am

European indices are also all in negative territory, with the DAX also down by 0.1% after a decent open earlier. Other major indices in the region are down some 0.6% to 0.8% with the negative mood also reflected in US futures. S&P 500 futures are down 0.5% with Nasdaq futures down 0.6% currently.In the bigger picture, it's a case of shaving some off the top for equities. And investors can look to the bond market as a likely reason for that. 10-year Treasury yields are up again today, touching 4.21% currently.The technical focus here is starting to get traders to stand up and take notice. And that means broader markets are also going to have to pay attention to that too. This article was written by Justin Low at www.forexlive.com.

Silver price today: Silver rises, according to FXStreet data

Oct 22, 2024 | 02:30 am

Silver prices (XAG/USD) rose on Tuesday, according to FXStreet data.

Major currencies not doing much so far on the session

Oct 22, 2024 | 02:29 am

The dollar is keeping more mixed with light changes being observed overall. There's not much appetite or follow through, as traders are keeping a watchful eye on the bond market for anything. USD/JPY is one to pay attention to as such but is running up against a key resistance region as outlined here.Besides that, all the other major currencies are stuck in narrower ranges on the day. The antipodeans are up slightly but it's not really saying a lot after the fall yesterday. AUD/USD is up 0.3% to 0.6678 but is still keeping below its own 100-day moving average of 0.6695.Just be wary though that the risk mood is starting to shift a little with US futures now trending lower. S&P 500 futures are down 0.5% with 10-year Treasury yields keeping higher at around 4.21%.That might eventually lead to some spillover moves in FX later on in the day. This article was written by Justin Low at www.forexlive.com.

CEE: Hungarian central bank tries to support the forint again – ING

Oct 22, 2024 | 02:17 am

Yesterday's data in Poland brought a downside surprise across the board.

AUD/USD: Rejuvenated momentum suggests AUD weakness – UOB Group

Oct 22, 2024 | 02:14 am

Sharp increase in momentum is likely to lead to further declines in AUD, but 0.6620 is probably out of reach today.

JPY: Political risk mounting – ING

Oct 22, 2024 | 02:09 am

USD/JPY remains a closely watched pair after breaking again above 150.0, ING’s FX analyst Francesco Pesole notes.

Bonds under the spotlight with little else to focus on

Oct 22, 2024 | 02:03 am

In most cases, yields will tend to trend lower in the early stages of the Fed's rate cutting cycle. But this isn't like those cases, at least for the time being. There is something driving yields back higher and that is catching the market attention again since the start of the month. Is it the economy? Is it inflation? Is it the election? As mentioned earlier, I'm sympathetic to the final point but it could also be a mix of reasons: Rising bond yields erode the risk trade, but what's driving it?In any case, the technicals are also starting to intrigue now. 10-year Treasury yields are passing a crucial point, nudging above its 200-day moving average (blue line). It's the first time since early July that yields are holding both above that and the 100-day moving average (red line).The next few weeks will be interesting to watch to see if this is really just all about the election. Or perhaps there is some other underlying driver that is getting traders worked up. This article was written by Justin Low at www.forexlive.com.

NZD/USD Price Forecast: Bears have the upper hand while below 200-day SMA near 0.6100

Oct 22, 2024 | 02:03 am

The NZD/USD pair stages a modest recovery from the 0.6020 area, or its lowest level since August 16 touched this Tuesday and sticks to its intraday gains through the first half of the European session.

European equities mostly a touch softer at the open today

Oct 22, 2024 | 00:10 am

Eurostoxx flatGermany DAX +0.3%France CAC 40 -0.2%UK FTSE -0.3%Spain IBEX -0.2%Italy FTSE MIB -0.2%SAP announced a better outlook at its earnings report after the close yesterday and that's helping to lift the DAX a little. Besides that, the overall mood is a little on the softer side with US futures also keeping lower. S&P 500 futures are down 0.2% as we look to start the session. As bond yields push higher, that's also a key consideration for equities sentiment. This article was written by Justin Low at www.forexlive.com.

What are the main events for today?

Oct 21, 2024 | 23:48 pm

Today we have another slow day on the data front with just a couple of low tier releases. We will get the Canadian PPI and the US Richmond Fed Manufacturing Index. Both of them aren't market moving releases and they won't change anything in terms of market pricing. Economic data:12:30 GMT/08:30 ET - Canada PPI (-0.5% m/m expected)14:00 GMT/10:00 ET - Richmond Fed Manufacturing Index (-18 expected)Central bank speakers:13:00 GMT/09:00 ET - ECB's Centeno (dove - voter)13:05 GMT/09:05 ET - ECB's Knot (neutral - voter)13:25 GMT/09:25 ET - BoE's Bailey (dove - voter)13:45 GMT/09:45 ET - BoE's Greene (neutral - voter)13:45 GMT/09:45 ET - ECB's Holzmann (hawk - voter)14:00 GMT/10:00 ET - ECB's Lagarde (neutral - voter)14:00 GMT/10:00 ET - Fed's Harker (neutral - non voter)15:00 GMT/11:00 ET - ECB's Lane (neutral - voter)17:00 GMT/13:00 ET - ECB's Villeroy (dove - voter)18:00 GMT/14:00 ET - ECB's Rehn (neutral - voter)20:15 GMT/16:15 ET - BoE's Breeden (neutral - voter) This article was written by Giuseppe Dellamotta at www.forexlive.com.

Eurostoxx futures +0.1% in early European trading

Oct 21, 2024 | 23:09 pm

German DAX futures +0.1%UK FTSE futures -0.3%US futures are down around 0.2% after a more mixed showing yesterday and that's weighing slightly on the mood today. The bond market is one to watch out for in case of anything but later in the week, we'll have earnings from Tesla and Amazon to set the tone. This article was written by Justin Low at www.forexlive.com.

BOE chief economist lambasts ONS over poor jobs data quality

Oct 21, 2024 | 22:09 pm

This is something I've highlighted with each and every UK labour market report, as seen with the latest one here. And it is something that has persisted for a year already now. In case you missed some of the posts about that:Heads up: UK labour market data later this month will have a similar caveat (November 2023)ONS says January labour market data to continue to use recent adjusted series (January 2024)There are still issues plaguing labour market data transformation - ONS (July 2024)In a time when the BOE is trying to make key decisions on policy, the lack of accuracy in something as crucial as labour market data is rather damning.That has now seen BOE chief economist, Huw Pill, be rather vocal about the issue. He laments a lack of improvement despite the ONS' efforts. Adding that it “remains uncertain whether the credibility” of the data will improve in the near future.This was remarked in a private letter to the ONS as Pill notes that the increased uncertainty of the data has made things "more difficult to gauge the underlying state of the labour market".So, again. This is just a reminder that there will continue to be a major caveat attached to the UK labour market report. Keep that in your consideration when trying to interpret the numbers. This article was written by Justin Low at www.forexlive.com.

Chinese equities continue to look more pensive this week

Oct 21, 2024 | 21:36 pm

If anything, the chart shows that the mood music is more pensive as investors are likely waiting on more action by Beijing. That especially a follow through on the fiscal side of things. The CSI 300 index is up 0.5% today but it's not really noticeable from the charts.It seems to be that investors are still hanging on to the leftover enthusiasm from before the Golden Week holiday. It's a good first step in trying to convince of a turnaround in sentiment. The surge higher shows much appetite and money waiting on the sidelines to bet on a China recovery.The fear is that Chinese officials might leave this sort of mood hanging for too long, again. This article was written by Justin Low at www.forexlive.com.

USD/JPY underpinned by higher yields, faces up against key resistance levels now

Oct 21, 2024 | 21:12 pm

10-year Treasury yields have now climbed back up to 4.20% and looking to push past its own 200-day moving average. Is it the economy trade? The inflation trade? Or perhaps the election trade? I'm quite sympathetic to the final reasoning to be honest. And that sort of ties in with inflation, should Trump come out on top and reignite trade wars.But as yields surge higher, it is underpinning USD/JPY as the pair pushes to its highest levels since end July. The 151.00 mark is within touching distance now as the pair contests key technical levels on the chart.The 50.0 Fib retracement level and 100-day moving average (red line) near 150.76 is being challenged now. And just above that, the 200-day moving average (blue line) is sitting close by at 151.33. That makes for a key resistance region for sellers to try and pin down price action and limit further upside.A break of those levels though, will allow much breathing room for buyers. But at this stage, a lot of it will be driven by what will happen in the bond market as well.It's a tricky one to get the full picture there as traders will have to balance the mix of economic data against the election backdrop going into November.But for today at least, the technicals are going to be one to provide some clues as to how things will play out next. This article was written by Justin Low at www.forexlive.com.

USD/JPY above 150.90 again after meek comments from Japan

Oct 21, 2024 | 20:18 pm

I gave an alert for comments today:Eyes and ears open today - "Verbal intervention threat rises as USD/JPY rises above 150"What we got was meek indeed, barely anything:Japan government Aoki says no comment on FX movesWill there be anything else? USD/JPY is nearly at 151.00 and I'm surprised we've heard so little.Trend is your friend in full effect today This article was written by Eamonn Sheridan at www.forexlive.com.

ForexLive Asia-Pacific FX news wrap: Fed’s Schmid and Daly diverged

Oct 21, 2024 | 19:53 pm

Federal Reserve Bank of Philadelphia President Patrick Harker speaks on TuesdayEuropean Central Bank President Lagarde speaks twice on Tuesday, Lane *2 alsoBank of England Governor Andrew Bailey speaking Tuesday, Greene and Breeden alsoJapan government Aoki says no comment on FX movesChina's $120bn effort to prop up the yuanICYMI - Saudi Aramco CEO is bullish on China’s oil consumptionEurozone Rate Cuts Forecast: Franklin TempletonPBOC sets USD/ CNY reference rate for today at 7.1223 (vs. estimate at 7.1229)Where are the yen intervention comments?China's Loan Prime Rate (LPR) cuts on Monday - is the glass half full, or half empty?ECB Rate Cut Impact Analysis: Inflation Concerns Forward, Policy Tightening AheadEyes and ears open today - "Verbal intervention threat rises as USD/JPY rises above 150"Fed's Daly says the recent rate cut was a 'close call'Fidelity International (fund manager) cuts 500 jobs in ChinaUS stock market, the party is over say Goldman SachsUBS say the US election result may not be known for more than a month after November 5New Zealand September exports higher than August, imports down a touchFed's Schmid: Very strong commitment at the Fed for 2% inflationForexlive Americas FX news wrap 21 Oct; The 10 year yield moves above 200 day MAFed's Schmid calls for cautious, gradual, deliberate approach to rate cutsApollo's Slok says increasing chance Fed rates hold in November - 10 tailwinds for economyTrade ideas thread - Tuesday, 22 October, insightful charts, technical analysis, ideas We had Federal Reserve officials Schmid (Federal Reserve Bank of Kansas City President) and Daly (Federal Reserve Bank of San Francisco President) speaking in early Asia time on Tuesday. They followed Logan (Dallas) and Kashkari (Minneapolis) who spoke on Monday, US time.All four expressed support for further Federal Reserve interest-rate cuts, but while Schmid, Logan and Kashkari tilted towards going slow on rate cuts (‘modest’, ‘gradual’, ‘avoid outsize moves’), citing the strong US economy and an uncertain outlook, Daly was more gung-ho, saying her perception is that current Fed monetary policy is "very tight" and that a strong economy should not prevent pacy rate cuts as long as inflation continues to fall.Apart from Fed speakers there was little news nor data of impact. We did have some (very mild) verbal intervention from Japanese authorities. USD/JPY is barely off its session highs. Major FX was otherwise subdued. China’s trade weighted yuan basket rose to its highest since July 11. Gold jumped on the session but has not approached its recent (record) high. This article was written by Eamonn Sheridan at www.forexlive.com.

Japan government Aoki says no comment on FX moves

Oct 21, 2024 | 19:23 pm

Aoki is Deputy Chief Cabinet Secretary:No comment on FX movesHayashi adds:yen moves have positive and negative aspects-These are very mild comments. USD/JPY is circa 150.75 and barely off its session high This article was written by Eamonn Sheridan at www.forexlive.com.

China's $120bn effort to prop up the yuan

Oct 21, 2024 | 19:08 pm

China's FX regulator is the State Administration of Foreign Exchange (SAFE). They've published data for year-to-date sales of foreign currency by commercial banks121.3bn net FX sold January - SeptemberSAFE adds:yuan exchange is basiclly stable at reasonable and balanced levels FX mkt shows relatively strong resilience This article was written by Eamonn Sheridan at www.forexlive.com.

ICYMI - Saudi Aramco CEO is bullish on China’s oil consumption

Oct 21, 2024 | 18:53 pm

Saudi Aramco Chief Executive Officer Amin H. Nasser says the firm is bullish on China’s oil consumptionCitinggovernment stimulus measuresjet fuel demand is a bright spotsees global oil demand at more than 100 million barrels per day through 2050Bloomberg carried his comments, but also poured some cold water on them:other market commentators forecast that China’s demand for fuels like gasoline & diesel has already peaked or will be peaking soon, backed by the nation’s rapid electrification of its passenger vehicle fleetIn recent months, parts of the country’s trucking sector have also seen a jump in orders for commercial vehicles that run on liquefied natural gas This article was written by Eamonn Sheridan at www.forexlive.com.

Where are the yen intervention comments?

Oct 21, 2024 | 18:00 pm

I posted earlier to expect verbal intervention today:Eyes and ears open today - "Verbal intervention threat rises as USD/JPY rises above 150"Its just after 10am in Tokyo. Maybe officials aren't out of bed yet. Or they've given up ;-) This article was written by Eamonn Sheridan at www.forexlive.com.

Aussie dollar falls below US$0.67

Oct 21, 2024 | 17:00 pm

AUD - Australian dollar The Australian dollar is slightly weaker this morning when valued against the Greenback, currently trading at US$0.6656 at the time of writing. AUD/USD seems to be resuming the down trending move it began at the late-September highs, following a brief pull back. On Monday it is down by a third of a per cent and is threatening to break below the October 16 low at US$0.6658. The declines in the Aussie have been attributed to concerns over China's stimulus measures and recent weakness in copper prices. Further weakness would depend on breaking below that level and the key September 11 swing low and support level, at US$0.6622. There are no scheduled releases for today. Looking ahead this week, on Thursday we will see the release of the Purchasing Managers' Index (PMI). A survey of about 400 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries and inventories. The Reserve Bank of Australia (RBA) will also release an Annual Report. Key Movers The US Dollar Index (DXY), which measures the value of the USD against a basket of six currencies, is slightly higher at the start of the week, supported by safe-haven flows amid geopolitical tensions. Some Federal Reserve (Fed) members are scheduled to speak later on Monday, and their comments will be closely watched for any clues on the Fed's monetary policy stance. Bets for a less aggressive Fed policy easing might lift the Greenback in the short term. The chance of an additional quarter-point rate cut in November stands at more than 90%. Financial markets have priced in two 25-basis points (bps) interest rate cuts before the end of 2024 and further rate cuts next year, likely bringing the policy rate to a 3.25%-3.5% range by September 2025, per Reuters. The Dow Jones Industrial Average (DJIA) backslid on Monday, tumbling 330 points and shedding eight-tenths of one per cent as equity markets ease back from recent record highs. The Dow bore most of the bearish burden to kick off the new trading week, with losses consolidated largely within the major equity index. Economic activity figures in this week’s S&P data on Thursday might shake the USD, as well as those in the Fed’s Beige Book report on Wednesday. Expected RangesAUD/USD: 0.6550 - 0.6750 ▼AUD/EUR: 0.6050 - 0.6250 ▼GBP/AUD: 1.9400 - 1.9600 ▲AUD/NZD: 1.0950 - 1.1150 ▲AUD/CAD: 0.9100 - 0.9300 ▼

Eyes and ears open today - "Verbal intervention threat rises as USD/JPY rises above 150"

Oct 21, 2024 | 16:27 pm

That comment in quote marks is via Mizuho in their weekly outlook. "Verbal intervention threat rises as USD/JPY rises above 150."That is pertinent for the session here today for sure, with USD/JPY having gained mover than 150 points since its Asia time low on Monday. Also pertinent from the same analysts is this:Buoyancy retained for the week ahead as opportuneities for effective intervention action may elude in the abscence of major releases.As I said last week, yeah, USD/JPY drops but the bids gobble it up . These are 4 hour candles showing the recent uptrend: This article was written by Eamonn Sheridan at www.forexlive.com.

Fidelity International (fund manager) cuts 500 jobs in China

Oct 21, 2024 | 15:28 pm

Reuters report, citing unnamed sources on Fidelity International (investment management services including mutual funds, pension management and fund platforms) is cutting around 500 jobs in China:largest downsizing in recent yearscuts seem mainly in Dalian tech/operations centre This article was written by Eamonn Sheridan at www.forexlive.com.

UBS say the US election result may not be known for more than a month after November 5

Oct 21, 2024 | 14:48 pm

UBS on the US election result:The election outcome may not be known for several weeks after the ballot closes on 5 November. The prospect of recounts and legal contests means that the winner might not be known before 11 December, the deadline for states to declare their electoral college votes. And even that date might not fully draw a line under the outcome if the result is still undecided or contested. Investors deferring investment plans in anticipation of the election result therefore need to factor in the potential risk and cost of a potentially long wait.--I very much doubt this. I don't know which political experts UBS is employing or using as consultants. Not knowing until after December 11 seems extreme. But hWe'll see. This article was written by Eamonn Sheridan at www.forexlive.com.

New Zealand September exports higher than August, imports down a touch

Oct 21, 2024 | 14:48 pm

New Zealand trade data not moving NZ dollar upon release, around 0.6030 This article was written by Eamonn Sheridan at www.forexlive.com.

Forexlive Americas FX news wrap 21 Oct; The 10 year yield moves above 200 day MA

Oct 21, 2024 | 14:07 pm

US Social Security to run dry in 2031 under Trump and 2034 under HarrisMixed bag for the major US indices. Nasdaq up, but S&P and Dow downUS 10-year yields rise above the 200-day moving averageCrude oil futures settle at $70.56Even more from Kashkari: Excess savings have been spent downCiti upgrades 0 to 3-month-old forecast for gold to $2800 versus $2700More Kashkari: It wasn't labor markets that caused inflationFed's Kashkari: A rising budget deficit would mean interest rate would be higherEuropean shares close lower. German DAX falls after closing at record high on FridayUSD higher. Yields higher. Stocks lower.BOE's Greene: Cautious and gradual approch to easing is appropriateUS Sept leading indicators -0.5% vs -0.3% expectedTech and energy sectors lead gains as semiconductors stumbleMore from Logan: My business contacts are optimistic looking forwardKickstart the FX trading day for Oct 21 w/ a technical look at the EURUSD, USDJPY & GBPUSDLet's hope Goldman Sachs is wrongFed's Logan: Expects gradual cuts if the economy meets forecastsForexLive European FX news wrap: Dollar holds firm, gold extends run in quiet tradingECB's Kažimír says all options are on the table for December meetingApart from the Leading indicators which have been forecasting a downturn for over 2 year now (there has only been one month that was positive since April 2022), the day was void of economic data. Yields were the focus today as they continued their move to the upside. The 10 year yield moved up 12.1 basis points at 4.195%, and is closing above its 200 day MA at 4.187% (see post here). The yield is also above the 50% of the 2024 trading range at 4.172%. The 10 year yield reached a low of 3.605% in September just before the Fed cut rates by 50 bps. Since then, the yield is up 59 basis points. A look at the yield curve shows:2 year 4.0317, up 7.7 bps5 year 3.958%, up 10.7 bps10 year 4.195%, up 12.1 bps30 year 4.994%, up 11.7 bps.The USD moved higher today as well with the:EURUSD: THe EURUSD is falling away from its 200 day MA at 1.0870 after testing it in the Asian Pacific session, and is extending toward the low from last week at 1.0810. A move below that level will have traders looking toward the swing low from August 1 at 1.0776.GBPUSD: The GBPUSD is also heading and testing the low from last week at 1.29729. The next target comes in at the 100 day MA and the 61.8% at 1.2958. If that level is broken in the new trading day, it will increase the bearish bias. The 200 day MA is much lower, however, at 1.2797. There is interim support targets at 1.2938 and then a swing area at 1.2844 to 1.2867. USDJPY: The USDJPY is closing near highs for the day and in the process is moving above the 50% midpoint of the move down from the July high to the September low and also the 100 day MA. Both are at 150.76. USDCHF: The USDCHF was lower and testing the 38.2% near the start of the US session at 0.86318, but found willing buyers near the level and is closing at 0.8661. The highs from last week reached 0.8669 on three separate occasions. Get above it in the new trading day and traders will be looking toward 0.8700. There was some Fedspeak:Lorie Logan, President of the Boston Federal Reserve, highlighted the need for the Fed to remain flexible with monetary policy decisions as the economy evolves. She noted the current strength and stability of the economy but acknowledged downside risks to the job market and challenges in achieving the inflation target. Logan expects gradual rate cuts if economic forecasts are met, with balance sheet reductions and rate cuts working in tandem. She emphasized that liquidity remains abundant in money markets and over time aims for minimal balances in the reverse repo facility, possibly adjusting the repo rate if needed. Logan shared that her business contacts are optimistic but mindful of potential risks, and she closely monitors financial conditions indexes.Meanwhile, Minneapolis Fed President Kashkari stated that inflation wasn't driven by the labor market. He emphasized the importance of avoiding a recession and noted recent labor market weakness as a reason for previous rate cuts. He also commented that consumer savings are dwindling, and delinquencies for lower credit score borrowers are rising. Kashkari mentioned that monetary policy has mainly anchored inflation expectations rather than reduced demand. He sees modest rate cuts ahead, with faster cuts possible if labor market weakness escalates.IN the US stock market today, the first day after a week that closed higher for the 6th consecutive week, the market was mixed. The Dow was hit the hardest. The Nasdaq rose modestly. The S&P close in between:Dow INdustrial average down -344.31 points or -0.80% at 42931.60S&P fell -10.69 points or -0.18% at 5853.98Nasdaq rose 50.45 points or 0.27% at 18540.01..Nvidia traded to a new all time high and was up 4.14%. Amex, Merck, Travelers, HomeDepot, Goldman Sachs all Dow stocks and all fell more than 2% on the day. This article was written by Greg Michalowski at www.forexlive.com.

US Social Security to run dry in 2031 under Trump and 2034 under Harris

Oct 21, 2024 | 13:34 pm

A nonpartisan report compared Harris and Trump policies. In brief:reserve fund for Social Security would run empty by 2031 under Trumpruns empty in 2034 under Harris"Social Security is nine years from insolvency, and neither campaign has a plan to solve it" "But President Trump's plans would make it much, much worse."The report is from a nonpartisan source, Committee for a Responsible Federal Budget (CRFB).There are plenty of media reports on it, here is an ungated one if you are after more. -The election is on November 5. Polling will ramp up in the two weeks ahead of then. Current polling is showing a very close race. This article was written by Eamonn Sheridan at www.forexlive.com.

Mixed bag for the major US indices. Nasdaq up, but S&P and Dow down

Oct 21, 2024 | 13:25 pm

The major US stock indices are closing with mixed results. The Dow industrial average was the biggest loser with a decline of -0.80%. The NASDAQ index rose by 0.27% and the S&P was in between with a decline of -0.18%. Looking at the losers in the Dow, there were 12 of the 30 with declines of 1% or more. The declines were led by American Express (-2.19%,), Merck (-2.17%) and Travelers (-2.17%). Dow losers of 1% or more:American Express: -2.19%Merck & Co: -2.17%Travelers: -2.17%Home Depot: -2.06%Goldman Sachs: -2.02%Nike: -1.74%Dow: -1.69%Amgen: -1.53%Coca-Cola: -1.41%J&J: -1.39%Visa A: -1.30%P&G: -1.02%Boeing was the outperformer with a gain of 3.11%. Apple rose by 0.66%. There were only 7 of 30 Dow stocks which were positive on the day. Some other winners today included:Trump Media & Technology Group: +5.81%NVIDIA: +4.14%Boeing: +3.11% (Dow stock)Zoom Video: +2.34%SoFi Technologies: +2.21%Uber Tech: +1.68%Fortinet: +1.25%AMD: +1.24%Schlumberger: +1.22%Super Micro Computer: +1.14%Netflix: +1.09% This article was written by Greg Michalowski at www.forexlive.com.

US 10-year yields rise above the 200-day moving average

Oct 21, 2024 | 13:21 pm

It was a tough one for the bond bulls on Monday as the 10-year ratcheted above the 200-day moving average for the first time since July. I wrote about bonds earlier in the day and the idea that they were pricing out a recession but it's tough to argue that's still the trade as the recent range breaks.The market is sensing some inflationary impulses and a Fed pause much sooner than believed a month ago -- as soon as December and more-likely-than-not by the Jan 29 meeting.The risk is that this leads to some reflexivity back into stocks and the broader economy. The level of rates is certainly relevant for real estate-facing sectors once again. The dollar has also undoubtedly noticed as USD/JPY tracks this chart very closely. This article was written by Adam Button at www.forexlive.com.

Trade ideas thread - Tuesday, 22 October, insightful charts, technical analysis, ideas

Oct 21, 2024 | 13:00 pm

Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so: This article was written by Eamonn Sheridan at www.forexlive.com.

Aussie dollar trades around US$0.67

Oct 20, 2024 | 17:00 pm

AUD - Australian dollar The Australian dollar is slightly stronger this morning when valued against the Greenback currently trading at 0.6698 at time of writing. The AUD/USD pair extended its recovery momentum on Friday with a positive risk tone and hawkish Reserve Bank of Australia (RBA) expectations due to strong local data underpinning the Aussie. A consolidating US dollar also helped the pair to rise. On the data front last week an unexpectedly low unemployment rate has seen 10 million Australians have a full-time job for the first time in history, likely scuppering any chance of a pre-Christmas interest rate cut. New data from the Australian Bureau of Statistics showed the jobless rate last month was unchanged from August at 4.1 per cent, after 64,000 new jobs were created in September. The ABS had originally put the August rate at 4.2 per cent, only to revise it down 0.1 per cent. The figures are slightly better than market forecasts, with economists generally expecting it to stay at 4.2 per cent or rise to 4.3. According to the data, about 10.03 million Australians have full-time work – the first time the 10 million milestone has ever been passed. Looking ahead this week and on Thursday we will see the release of the Purchasing Managers' Index (PMI). A survey of about 400 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories. The Reserve Bank of Australia (RBA) will also release an Annual Report. Key Movers US housing and construction figures came in moderately mixed on Friday, further entrenching investors in a buying mood and further crushing any fears of an economic slowdown right around the corner. The US “soft landing” scenario appears to have been fully averted with growth and activity metrics easily beating expectations. Gold prices continued to print record highs after breaching the $2,700 figure amid uncertainty surrounding the US election and tensions in the Middle East. This weighed on US Treasury bond yields and the Greenback, which tumbled to a two-day low of 103.45 after hitting a two-month peak of 103.87. At the time of writing, the XAU/USD trades at $2,721, up by 1.09%. The Dow Jones Industrial Average (DJI), rose 36.86 points, or 0.09%, to 43,275.91; the S&P 500 (SPX), rose 23.20 points, or 0.40%, to 5,864.67; and the Nasdaq Composite (IXIC), rose 115.94 points, or 0.63%, to 18,489.55. European stocks closed higher, helped by a resurgence in tech stocks at the conclusion of a choppy week, which included mixed earnings and a rate cut from the European Central Bank. The STOXX 600 logged its second weekly advance. The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, fell 0.28% to 103.49, with the euro up 0.3% at $1.0864. Expected RangesAUD/USD: 0.6600 - 0.6800 ▲AUD/EUR: 0.6100 - 0.6300 ▲GBP/AUD: 1.9350 - 1.9550 ▼AUD/NZD: 1.0950 - 1.1050 ▼AUD/CAD: 0.9150 - 0.9350 ▲

Aussie dollar recovers to trade below US$0.67

Oct 17, 2024 | 17:00 pm

AUD - Australian dollar The Australian dollar is slightly stronger this morning when valued against the Greenback, currently trading at 0.6695 at time of writing. In Thursday's session, the AUD/USD currency pair experienced a gain of 0.40%, mainly due to positive labor market data reported during the Asian session. On the data front yesterday an unexpectedly low unemployment rate has seen 10 million Australians have a full-time job for the first time in history, likely scuppering any chance of a pre-Christmas interest rate cut. New data from the Australian Bureau of Statistics showed the jobless rate last month was unchanged from August at 4.1 per cent, after 64,000 new jobs were created in September. The ABS had originally put the August rate at 4.2 per cent, only to revise it down 0.1 per cent. The figures are slightly better than market forecasts, with economists generally expecting it to stay at 4.2 per cent or rise to 4.3. Looking ahead today and we will see the release of the National Australia Bank (NAB) Quarterly Business Confidence survey, which is a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity, such as spending, hiring, and investment. Key Movers The US Dollar Index (DXY), which measures the value of the USD against a basket of six currencies, has continued its upward trajectory, marking its fifth consecutive day of gains. At press time, the DXY trades near 104.00. U.S. retail sales increased slightly more than expected in September, supporting views that the economy maintained a strong pace of growth in the third quarter. Retail sales rose 0.4% last month after an unrevised 0.1% gaining in August, the Commerce Department's Census Bureau said on Thursday. Economists polled by Reuters had forecast retail sales, which are mostly goods and are not adjusted for inflation, would rise 0.3%. The U.S. central bank embarked last month on its easing cycle with an unusually large half-percentage-point cut in its policy rate, lowering it to the 4.75%-5.00% range, amid growing concerns about the labor market. The Fed hiked rates by 525 basis points in 2022 and 2023 to curb inflation. In other news, US citizens filing new applications for unemployment insurance hit 241K for the week ending October 11. This was below consensus of 260K and the previous week's tally, which was revised upward to 260K. US Initial Jobless Claims for the week ended October 11 also beat market expectations, coming in at 241K. Investors expected the week’s new jobless claimant count to hold steady at the previous week’s revised 260K. Expected RangesAUD/USD: 0.6600 - 0.6800 ▲AUD/EUR: 0.6100 - 0.6300 ▲GBP/AUD: 1.9300 - 1.9500 ▼AUD/NZD: 1.0950 - 1.1150 ▲AUD/CAD: 0.9150 - 0.9350 ▼

Aussie dollar continues to trade below US$0.67

Oct 16, 2024 | 17:00 pm

AUD - Australian dollar The Australian dollar is slightly weaker this morning when valued against the Greenback, currently trading at US$0.6664 at time of writing. Wednesday is the third consecutive day that the Australian dollar was down against the US dollar, despite hawkish comments from the Reserve Bank of Australia (RBA) Deputy Governor, Sarah Hunter. The Westpac Leading Index remained unchanged in September, marking the sixth consecutive month of stagnation. The Australian weekly survey of Consumer Confidence showed little movement, with the ANZ-Roy Morgan Consumer Confidence index remaining steady at 83.4 this week. Looking ahead, all eyes will be on the Australian Bureau of Statistics when they release the latest Unemployment Rate decision. The jobless rate is expected to remain steady at 4.2%. On Friday, there will be the release of the National Australia Bank (NAB) Quarterly Business Confidence survey, which is a leading indicator of economic health. Changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment. Key Movers The US dollar (USD) received support, bolstered by strong jobs reports and inflation data that have reduced expectations for aggressive easing by the Federal Reserve (Fed). As a result, markets are now forecasting a total of 125 basis points in rate cuts over the next year. The US economic calendar showed no highlights on Wednesday as markets wait for Thursday’s Retail Sales figures. US stocks popped on Wednesday, rebounding toward record highs, as investors digested a barrage of earnings results highlighted by Morgan Stanley. The Dow Jones Industrial Average (DJI) rose nearly 350 points, or about 0.8%, to close at a record high of 43,077.70. The tech-heavy Nasdaq Composite (IXIC) gained nearly 0.3%, while the benchmark S&P 500 (GSPC) was up around 0.5% and closed just shy of its own record. Gold prices rose during the mid-North American session on Wednesday, underpinned by the drop in US Treasury yields and the shrug off recent US dollar strength. Expectations that major central banks would cut rates amid soft inflation readings weighed on bond yields and boosted the non-yielding metal. At the time of writing, the XAUUSD trades at US$2,674, up by 0.46%. Expected RangesAUD/USD: 0.6550 - 0.6750 ▼AUD/EUR: 0.6050 - 0.6250 ▼GBP/AUD: 1.9400 - 1.9600 ▲AUD/NZD: 1.0900 - 1.1100 ▲AUD/CAD: 0.9050 - 0.9250 ▼

Canada’s Inflation Lower than Expected

Oct 16, 2024 | 05:06 am

Canada’s inflation rate continues to fall and was lower than expected in September. The CPI rose 1.6% year-on-year, down from 2% in August and below the market level of 1.8%.

Aussie dollar trades below US$0.67

Oct 15, 2024 | 17:00 pm

AUD - Australian dollar The Australian dollar is slightly weaker this morning when valued against the Greenback currently trading at US$0.6698 at the time of writing. The Australian dollar (AUD) remains subdued against the US dollar (USD) on Tuesday, weighed down by weak trade balance data from China, Australia's largest trading partner. A decline in copper prices also contributed to the downward pressure on the Australian dollar, while iron ore prices remained mostly unchanged. On the local front yesterday ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 83.4 this week. However, looking longer-term, Consumer Confidence has now spent a record 89 straight weeks below the mark of 85 and is now 7 points above the same week a year ago, October 9-15, 2023 (76.4), and 1.3 points above the 2024 weekly average of 82.1. Looking ahead today the Reserve Bank of Australia (RBA) Assistant Governor (Economic) Sarah Hunter is due to speak at the Citi Australia and New Zealand Investment Conference, in Sydney. On Thursday all eyes will be on the Australian Bureau of Statistics when they release the latest Unemployment Rate decision. The jobless rate is expected to remain steady at 4.2%. Finally, on Friday we will see the release of the National Australia Bank (NAB) Quarterly Business Confidence survey which is a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment. Key Movers The US Dollar Index (DXY), which measures the value of the US dollar against its six other major peers, extended its winning streak for the sixth consecutive day on Tuesday. The DXY trades around 103.30 with 2-year and 10-year standing at 3.96% and 4.09%, respectively, at the time of writing. The New York Empire State Manufacturing Index for October was released, showing a significant decline into contraction at -11.9. This contrasts with the previous increase of 11.5 and falls well below expectations, which had anticipated a modest rise to 2.3. On Thursday, markets will follow Retail Sales figures, which might shake the USD dynamics and Fed bets. Gold prices advanced Tuesday as US Treasury bond yields retreated, capping US dollar gains. A light economic docket featured the New York Empire State Manufacturing Index and the release of the NY Fed Consumers Expectations Survey. The XAU/USD trades at $2,664. Expected RangesAUD/USD: 0.6600 - 0.6800 ▼AUD/EUR: 0.6050 - 0.6250 ▼GBP/AUD: 1.9400 - 1.9600 ▲AUD/NZD: 1.0900 - 1.1100 ▲AUD/CAD: 0.9150 - 0.9350 ▼

US Inflation Dips to 2.4% in September

Oct 10, 2024 | 08:23 am

The US consumer price index (CPI) continued its downswing, dropping slightly in September. Inflation fell to 2.4% year-on-year.

Forex Today: S&P 500 Hits Record High Ahead of US CPI Data

Oct 10, 2024 | 01:41 am

Markets Await Crucial US CPI Data, Expecting Fall to 2.3%; FOMC Meeting Minutes Show Participants Overly Dovish

Forex Today: RBNZ Cuts Rates by 0.50%, Kiwi Falls

Oct 8, 2024 | 23:24 pm

RBNZ Cuts Rates as Expected; Markets Await FOMC Meeting Minutes

Forex Today: Slower Fed Cuts Consensus Hardens

Oct 7, 2024 | 23:15 pm

US Treasury Yields Trade Above 4%, Markets Expecting only a Further 0.50% Cut in 2024; Quiet Market Expected

Forex Today: US Dollar, Yields Strong on “No Landing” Speculation

Oct 6, 2024 | 23:26 pm

Friday Saw Strong US Jobs & Earnings Data, Boosting Greenback; US Treasury Yields Soar; Japanese Currency Ambassador Monitoring Market

Forex Today: Stocks Fall & Dollar Firms on Iranian Military Escalation

Oct 1, 2024 | 23:46 pm

Iran Attacks Israel With Hundreds of Missiles, Entire Israeli Population Shelters for an Hour; US Dollar Rises, Stocks Fall Except in China; Crude Oil Firms on Fears of Escalating Mideast Conflict

Forex Today: Powell’s More Hawkish Tone Boosts Greenback

Sep 30, 2024 | 23:33 pm

Fed Chair Powell Signals No Rush To Cut Rates ; US Dollar & Treasury Yields Advance; German Preliminary CPI Lower Than Expected

Forex Today: China Soars, Japan Slumps

Sep 29, 2024 | 23:52 pm

Japanese Nikkei 225 Index Plunges by Over 4%, Chinese HSI Up By 4%; AUD, NZD Advance in Forex Market, Yen Surges Further on Ishiba Win

Forex Today: S&P 500 Index, Euro, British Pound Retreat from Highs

Sep 25, 2024 | 23:33 pm

S&P 500 Closes at New Record High; GBP/USD Briefly Breaks $1.3400, EUR/USD Trades at 1-Year High; Gold Remains Bullish; Markets Await SNB Policy Meeting, US Final GDP

Forex Today: Gold Reaches New Record High of $2,670

Sep 25, 2024 | 00:09 am

Gold Trades at $2,670 Record in Tokyo Session; S&P 500 Closes at New Record High; GBP/USD Powers to 2.5 Year High; Australian CPI Falls to 2.7% as Expected

Australian Central Bank Maintains Cash Rate at 4.35%

Sep 24, 2024 | 03:27 am

The Reserve Bank of Australia (RBA) maintained the cash rate at 4.35% following the latest meeting of the Bank’s Board on Tuesday. RBA’s Bullock says no cuts expected for “near term”. Australian dollar shows limited reaction as the RBA decision was expected.

Forex Today: RBA Leaves Rated Unchanged at 4.35%

Sep 23, 2024 | 23:35 pm

RBA Has Little Effect on Aussie; Gold Trades at $2,638 Record in Tokyo Session; Stock Markets Remain Bullish as S&P 500 Closes at New Record; Markets Await Australian CPI Data

Forex Today: Gold Makes New Record High

Sep 22, 2024 | 23:18 pm

Gold Trades at $2,631 in Tokyo Session; Stock Markets Remain Bullish; Markets Await Flash Manufacturing & Services Data

United States Federal Reserve Chops Rates by 0.50%

Sep 19, 2024 | 01:36 am

The Federal Reserve lowered interest rates on Wednesday by 0.50%, or 50 basis points, bringing the benchmark interest rate to a target range of 4.75 percent to 5.50 percent.

Forex Today: Stock Markets Rising Again After Fed Volatility

Sep 18, 2024 | 23:22 pm

US Fed Cuts by 0.50%, Promises 0.50% More By 2025; Risky Assets Decline Then Rebound on “Sell the Fact”; Gold, S&P 500 Index Trade at New All-Time Highs; Markets Await Bank of England, Bank of Japan

Forex Today: S&P 500 Touches Record Ahead of Fed Meeting Today

Sep 17, 2024 | 23:20 pm

S&P 500 Closes Lower After Touching All-Time High; CME FedWatch Tool Shows 65% Expect Deep Rate Cut; Markets Mostly Consolidate Ahead of Fed Meeting; Canadian Inflation Dips; UK Inflation Data Awaits

Forex Today: Markets Expecting 0.50% Fed Rate Cut

Sep 16, 2024 | 23:32 pm

CME FedWatch Tool Shows 67% Expect Deep Rate Cut Tomorrow; US Dollar Loses More Ground; US Treasury Yields Fall to Fresh Long-Term Lows; Gold, Yen Decline After Making New Highs

Forex Today: Gold, Japanese Yen Rise to New Highs

Sep 15, 2024 | 23:13 pm

Gold Trades Near $2,600 During Asian Session; USD/JPY Reaches New 1-Year Low Below ¥140; Trump Survives Assassination Attempt; Markets Await Fed; Bank of Canada Seemingly Open To Cutting Rates Faster

Forex Today: US Inflation Falls to 2.5%

Sep 11, 2024 | 23:12 pm

US Core CPI Data a Touch Hot; New Consensus Fed Won’t Cut by 0.50% This Month; Stock Markets Make Strong Gains; ECB Expected to Cut Main Refinancing Rate Today; Betting Markets See Small Swing to Harris After Presidential Debate

US Inflation Drops to 2.5% in August

Sep 11, 2024 | 11:18 am

US inflation for August rose 2.5% year-on-year, in line with the market estimate. The US dollar posts gains against the major currencies today. Market odds of a 25 basis-point cut this month increase to 85%.

Forex Today: US Dollar, Stocks, Yields Fall Ahead of CPI Data

Sep 10, 2024 | 22:40 pm

US CPI Data Keenly Awaited; Japanese Yen Rallies on BoJ Comments, USD/JPY Reaches 9-Month Low; Betting Markets See Small Swing to Harris After Presidential Debate

Forex Today: US Dollar, Stocks Make Small Recovery

Sep 9, 2024 | 23:08 pm

US Dollar and Stock Markets Gain Some Ground; Spectre of Chinese Deflation Subdues Asian Stocks; Yellen Says “No Red Light” for US Economy

Forex Today: Markets Fear Fed Cutting Too Slowly

Sep 9, 2024 | 00:00 am

Fears Persist Fed Not Done Enough to Prevent Hard Landing; Asian Stocks Continue Decline, But US Futures, Yields Advance; Quiet Monday Likely

Bank of Canada Cuts Interest Rate to 4.25%

Sep 5, 2024 | 00:09 am

The Bank of Canada lowered rates on Wednesday by 25 basis points, lowering its key interest rate to 4.25%.

Forex Today: Fears Grow of Hard Landing for US Economy

Sep 4, 2024 | 22:26 pm

US Yield Curve Dis-inverts; Global Stocks Continue Decline; Japanese Yen Advances Strongly; Most Commodities Continue Decline; Disappointing US Jobs Data

Forex Today: Stocks, Commodities Fall Strongly, Yen Advances

Sep 3, 2024 | 23:02 pm

Global Stocks Trade Sharply Lower; Japanese Yen Advances Firmly; Most Commodities Continue Decline; Aussie Lower on Poor GDP Numbers

Forex Today: Markets See Weak Risk-Off Sentiment

Sep 2, 2024 | 22:33 pm

Global Stocks Trade Lower; Japanese Yen and US Dollar Strongest in Forex; Most Commodities Decline

Forex Today: Japanese Yen Strengthening Again

Sep 1, 2024 | 23:18 pm

Stronger Yen as More Institutions Forecast USD/JPY Below ¥140; Hawkish Rate Comment from RBA; Commodities Lower in Early Trading

United States GDP Revised Upwards to 3%, Unemployment Claims Drop Marginally

Aug 29, 2024 | 09:27 am

According to the BEA, United States second-estimate GDP for the second quarter, released earlier today, indicated that the economy expanded at an annualized rate of 3.0%.

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