.fonecable {

Reserve Bank of Australia Assistant Governor Ellis QnA Earlier: More: – employment will now not decline as much as forecast – still a pretty weak outlook given the lock restrictions in state […]

During Q1 2020 the dollar’s share of trade between Russia and China fell below 50% for the first time ever Data via from Russia’s Central Bank and Federal Customs Service, reported in […]

RBA Ellis, Assistant Gov Headlines via Reuters, bolding mine. Not a lot of optimism from Ellis, given the baseline forecasts that is probably about correct.  Full text: Continue Reading:… Search Web: RBA’s […]

Reserve Bank of Australia Statement on Monetary Policy  (SoMP) August 2020   more to come   Full text: RBA Governor Lowe: Continue Reading:… Search Web: RBA statement says sees pace of recovery […]

More from Trump Earlier he signed an EO targeting ByteDance/TikTok: Risk taking a bit of a hit on the dual blow against China    Continue Reading:… Search Web: Trump signs executive order […]

Kyodo via Reuters  AstraZeneca is a British-Swedish pharmaceutical firm ‘ Continue Reading:… Search Web: Japan to agree soon to a 100 mln coronavirus vaccine shots deal with Astrazeneca

People’s Bank of China    Continue Reading:… Search Web: PBOC sets USD/ CNY reference rate for today at 6.9408 (vs. yesterday at 6.9438)

EUR/USD  USD/JPY  GBP/USD  USD/CAD  NZD/USD Continue Reading:… Search Web: FX option expiries for Friday August 07 at the 10am NY cut

Trump says threat posed by TikTok – says it may be used for disinformation campaigns that benefit the Chinese Communist Party – says the US must take aggressive action against the owners […]

Reserve Bank of Australia Statement on Monetary Policy (SoMP) – due at 0130GMT I posted a preview earlier: JPM recommended selling some AUD to taker profit on longs ahead of the announcement: […]

US Treasury Secretary Mnuchin says negotiators are close on several issues, Trump’s first choice is to do a deal Continue Reading:… Search Web: Mnuchin says coronavirus talks are close on some issues, […]

Canada has promised retaliation for Trump’s latst round of tariffs on aluminium Continue Reading:… Search Web: Canada’s response to Trump’s new tariffs will be announced at 1500 GMT on Friday 7 August […]

Still see the USD "under pressure" – Although the momentum in the USD has moved against our expectations for certain pairs – most notably the EUR and GBP – we do not […]

Local media with the speculative number. These numbers are often close to, if not bang on, the result that’ll be announced in the hours ahead. Posting for those curious.  Continue Reading:… Search […]

Japan Household spending for June -1.2% y/y  Falling not as bad as expected, a beat but not a great one. For the m/m its +13% (expected +7.5%) so that’s a bit more […]

– Real cash earnings -1.9% y/y vs. expected -2.0% y/y, prior -2.3%  4th consecutive mointh of falls for the ‘real’ figure.  Overtime pay fell 24.6% y/y (-26.3% the previous month) Continue Reading:… […]

There is no firmly scheduled time for Chinese trade data coming up on Friday 7 August 2020  Sometime after 0200GMT is a reasonable guess. Yuan terms USD terms Continue Reading:… Search Web: […]

Canadian Deputy PM Freeland Continue Reading:… Search Web: Canada says Trump’s new tariffs on the country (aluminium) are unwarranted, unacceptable

Analysis from TD, this via efx – f or bank trade ideas, check out eFX Plus Continue Reading:… Search Web: EUR/USD: A Buy On Dips; USD/JPY: Next Move Lower; GBP/USD: 1.32 Next […]

Australia Australian Industry Group Performance of Services Index  – prior 31.5      Continue Reading:… Search Web: Australia Services PMI for July: 44.0 (prior 31.5)

Gold and silver are pumping it up higher in the early hours here in Asia. Spot gold above $2070 and silver giving $29.50 a nudge. Earlier: Continue Reading:… Search Web: Gold says […]

A vote in the US Senate on Thursday, unanimously approved a bill banning federal employees from using video-sharing app TikTok on government-issued devices Driving the price of the app a little lower […]

In addition to strong investment demand: – falling Treasury yields  – an increase in geopolitical risks ING add in: –  silver prices were further supported by the sharp recovery in industrial activity […]

There is a preview of Friday’s (7 August 2020 at 1230GMT) nonfarm payroll report here: In brief comments via Goldman Sachs on what to expect: Continue Reading:… Search Web: Goldman Sachs non […]

FB not expressing much confidence that the virus will be under control any time soon. Continue Reading:… Search Web: Facebook will allow employees to work remotely until July 2021

Some remarks from White House Chief of Staff Meadows heading into more talks, this via US media: – asked if the goal tonight is to reach an overall number for a stimulus […]

Preview of the Reserve Bank of Australia monetary policy statement (SoMP) is here: A quick snippet from JP Morgan on the Australian dollar – the bank recommends taking profit on long AUD […]

Trade ideas thread – 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 […]

An opinion piece in the state-owned tabloid Some of the remarks in the piece: GT is a barometer of official thinking in China re the US, relations between the two contries are […]

The US President’s Working Group on Financial Markets is often referred to as the ‘Plunge Protection Team’. The Group has issued a report making five recommendations Continue Reading:… Search Web: US ‘Plunge Protection […]

The RBA SoMP is due at 0130 GMT on Friday 7 August 2020  The Statement updates the Bank’s assessment of current economic conditions, both domestic and international, along with the outlook for […]

Forex news for North American trade on August 6, 2020: – Trump says he expects to sign executive orders delaying payroll tax collection Markets: – Gold up $25 to $2063 – hits […]

Reserve Bank of Australia SoMP today (see below) 2230 GMT Australia – AiG Services PMI for July 2330 GMT Japan wages data for June 2330 GMT Japan Household spending for June Continue […]

Closing changes for the main market indexes The MSCI wold index erased the year-to-date decline today. Continue Reading:… Search Web: US stocks finish strong ahead of non-farm payrolls

New tariffs on Canadian aluminum This was rumored on Friday. Everyone thought we were past this post-NAFTA but here we are as tariff man strikes again. The White House will likely point […]

Oil tries and fails on a break again WTI Crude oil finished the day down 24-cents to $41.95. It rose as high as $42.87 to break the July high of $42.40 for […]

Teaching jobs are a big quirk The consensus for Friday’s non-farm payrolls report is for 1.5 million jobs gains in the month but that doesn’t tell the real story. Continue Reading:… Search […]

The largest motorcycle convention in Sturgis South Dakota is to start on Friday The roar along the highways heading north toward South Dakota are motorcycles that will transcend on the small town of Sturgis, South Dakota (pop. […]

CDC cases also on the upswing The chart below is the death count calculated by the Washington Post.  The number from yesterday came in at 1330 which was close to the CDC number of […]

New high for deaths recorded in North Carolina Continue Reading:… Search Web: North Carolina cases rise by 1935. Deaths reach the highest single day increase

Lots of ups and downs in the pair but buyers are testing a key target area The NZDUSD has seen a lot of ups and downs going back to July 21. Most of […]

Ohio leader catches the coronavirus Two days ago DeWine have a briefing to reporters on the virus. A week ago, the state set a one-day record for cases at 1733. Continue Reading:… […]

Trump says executive order coming on a payroll tax cut and eviction protections Trump can delay the collection or payroll taxes and he can ban evictions for a time, but eventually those […]

Pair is back higher on the day As London/European traders had for the exits, the EURUSD is trading to new NY/London session highs.   In addition, the pair is now trading higher on the day. It […]

See what you missed Last week saw the highly anticipated TradeON Summit, which proved to live up to the hype as the summer’s biggest virtual event in the industry. Were you unable […]

Down day for the major indices The provisional closes are showing: In the European debt market, the benchmark 10 year yields all fell on the day. In other markets as the European/London […]

Buyers and sellers try breaks but fails The EURJPY moved above the high from last week yesterday at 125.196. That break so traders use the old level as support and make a run to a […]

Typical pre-NFP day The US dollar has found a bid today despite US 10-year yields falling back towards 0.50%. The theme is modest risk aversion as Congressional negotiations on stimulus stall. Continue […]

A reversal has the broader indices back negative and the day We are already seeing a rebound off the lows but the indices still remain negative on the day. The S&P is down […]

Backlog of tests worked through The daily numbers from Florida show a jump in tests but cases no rising at nearly the same pace. The improvement in positivity is good and things […]

100 hour MA at 0.9131. 200 hour MA at 0.9142 The  USDCHF is trading to a new session high and in the process is approaching the 100 hour moving average at 0.91312. On […]

The high for the day took out last week’s high but only briefly The GBPJPY extended to a high price today at 139.221. That actually took the price above the high from last week […]

Comments from the Dallas Fed President Kaplan has been hitting these talking points all week. I’ll update if he says anything new. Continue Reading:… Search Web: Kaplan: Still believes in healthy rate […]

Fall below the 38.2% went no where. Sellers turn to buyers The AUDUSD has been chopping up and down in trading today. Recall from yesterday the price trended higher and to the highest […]

That’s going to help housing That’s $1245 on a $300,000 mortgage — not bad. The housing market was looking good at the start of the year and potential home buyers thinking about […]

Gold making new record highs. Silver is up over 5% The price of gold is trading to yet another new all time high at $2066.94 (trading at the highs now), but silver is the big mover […]

Comments from House leader Nancy Pelosi on CNBC: There was nothing new that would change the odds of deal in her comments. Continue Reading:… Search Web: Pelosi: We will reach an agreement […]

Trading above and below the unchange level A snapshot of the market currently shows: In the US debt market, yields remain lower: Continue Reading:… Search Web: US stocks open with modest declines

Channel and 100/200 hour MAs are providing support and resistance The USDJPY is stuck in a narrow trading range between support and resistance targets. More specifically a channel has done a fairly good job of keeping […]

Sen. Majority Leader Mitch McConnell on CNBC – Still at odds over how much aid is needed – not sure about timing but believe a deal will get done – need to […]