Forex news for North American trade on December 13, 2019: Markets: – Gold up $6 to $1475 – US 10-year yields down 7 bps to 1.82% – S&P 500 float at 3168 […]

Closing changes for the main US stock markets: On the week: While stock markets were enthusiastic, the 7.5 bps fall in US 10-year notes to 1.82% virtually wiped out yesterday’s rise. That’s […]

Forex futures positioning data for the week ended Tuesday, December 10: The big shifts recently have been paring GBP and NZD shorts. Those trends both continued this week but at a slower […]

Oil climbed another 1.4% today There has been a persistent bid in oil since the OPEC decision that’s flown under the radar because of so much happening elsewhere. Continue Reading:… Search Web: […]

Comments from the Fed Vice Chair This sure doesn’t sound like a guy who just voted to cut rates three times. ForexLive Continue Reading:… Search Web: Fed’s Clarida: Sees no signs of […]

It was framed as one year earlier To put this into context. In 2017, China bought $24 billion in US agriculture. They’re just going back to that. This deal is looking sadder […]

Kudlow on CNBC Is this a joke? The enforcement process is to talk about it? ForexLive Continue Reading:… Search Web: Kudlow: Deal should be signed “inside of a few weeks”

The money is gone and the idea persists that he’s still alive The law firm representing users of bankrupt cryptocurrency exchange QuadrigaCX is asking the Canadian police to exhume the body of […]

CNBC Kayla Tausche reports is reporting that a briefing between reporters and USTR’s Lighthizer has him sharing that the:  CNBC’s Kayla Tausche ForexLive Continue Reading:… Search Web: Lighthizer: US/China aiming to sign […]

Oil rigs up 4 on the week – total rigs 799 versus 799 last week – oil rigs 667 versus 663 last week – gas rigs 129 versus 133 last week Crude […]

Crude oil prices are trading near $60 At the top of the hour, Baker Hughes rig count data for the current week will be released. Last week total rigs came in at […]

The 109.20-223 area continues to hold support in up and down session The USDJPY is still holding above the support area at the 109.20 to 109.223 area in what has been an […]

Here’s the tally Given that Sinn Fein doesn’t take their seats, that leaves Boris Johnson with a working majority of 86. Given that the Conservative party remains fractured, those votes will come […]

Cabinet to approve higher GDP forecast The forecast is for the fiscal year starting in April and it’s significantly stronger than the +0.5% consensus and the roughly 0.9% pace this year. Continue […]

Unchanged this week There is no change from the Dec 6 forecast. After this week’s data releases from the U.S. Bureau of Labor Statistics, the U.S. Department of the Treasury’s Bureau of […]

Comments from Williams in New York These comments were about about 15 minutes ago. There’s nothing new here. ForexLive Continue Reading:… Search Web: Fed’s Williams: We’ve got economy on a strong footing […]

Trump comments in the Oval Office: Nothing new here so far. ForexLive Continue Reading:… Search Web: Trump says he was willing to wait after 2020 on phase two talks

Major indices are higher on the day The UK FTSE 100 has moved up by 1.1% on the day after Boris Johnson – and the Tories – return the power with a big […]

Topside trend line and 50% retracement on the hourly chart also in play The USDCAD it is trading at a new session high and in the process tests its 100 hour moving average […]

Fourth quarter tracking estimate from the NY Fed The growth estimate was bumped up but it’s still looking like a sluggish quarter. Evidently, they were looking for a much weaker retail sales […]

Some details still murky USD/JPY is at the lows of North American trade and back to flat on the day. It appears as though China has balked at putting a specific number […]

The low reached 1.1124 The EURUSD has retraced the move higher from the 5 PM ET close from yesterday. That low was at 1.11246. The low just reached 1.11238. Lap completed.  Also […]

Statement obtained by Politico USTR press statement: "The United States will be maintaining 25 percent tariffs on approximately $250 billion of Chinese imports, along with 7.5 percent tariffs on approximately $120 billion […]

Trump on the tariff details We have agreed to a very large Phase One Deal with China. They have agreed to many structural changes and massive purchases of Agricultural Product, Energy, and […]

US stocks move to session highs on the news The USDJPY has rebounded toward the highs for the day after China says first phase is agreeed, but does fall short of the […]

China says first phase agreed The Global Times reports that the deal text is done: The text includes nine chapters, including , technology transfer, food and agriculture, financial services, exchange rate and […]

October business inventory data: ForexLive Continue Reading:… Search Web: US October business inventories +0.2% vs +0.2% expected

50% of the move up from yesterday’s low The EURUSD has moved to new corrective lows and in the process is testing the 2% retracement and 200 day moving average at 1.1151. Continue […]

Overnight gains are eroded as US China becomes the focus again The major US indices are opening with modest declines. The overnight gains on relief from the UK election and hope for […]

Now it will take place at 11 pm local time It was supposed to start now but it’s been pushed back 30 minutes. The list of officials who are present says something. […]

Just when you think…. The USDJPY has fallen on the latest US/China tweet from Pres. Trump saying tariff reduction story from the WSJ yesterday is totally false.   Continue Reading:… Search Web: USDJPY […]

Highs from October and November  The EURUSD is being dragged down as well after spiking higher in sympathy with the GBPUSD. The run higher today did extend above its 200 day moving average for the 1st […]

Now Trump confirms it I had just finished writing that Jim Cramer was reporting this when Trump tweeted it. Yesterday this looked like a fairly comprehensive Phase One deal. Now it’s looking […]

More reasons for worry CNBC’s Jim Cramer said on TV that the reported deal is not coming, that it’s smaller. He specifically cited the 50% rollback on $360B of existing tariffs. Continue […]

Price falls below the 38.2% retracement of the move up from yesterday The GBPUSD has continued the corrective move to the downside and in the process is fall below the 38.2% retracement of […]

What will they say That’s 10:30 pm local time and 9:30 am in New York. What’s notable is that this isn’t the Commerce Ministry holding the report. On net this is positive […]

US import price index for an of November According to the Bureau of Labor Statistics: ForexLive Continue Reading:… Search Web: US import price index for November 0.2% versus 0.2% estimate

Retail sales data for November 2019 This is dollar negative but I suspect the softness has more to do with the timing of Black Friday being so close to month-end, rather than […]

The 1.3379 level was the March 2019 high The GBPUSD raced to a high of 1.35139 in the first hour after the exit polls started to come out, but that high could […]

November is a key month for sales The consensus on November retail sales is +0.5% with the control group at +0.3%. There is a secular trend towards earlier Christmas shopping because of […]

Real confusion on this deal The eerie silence since all the trade deal reports yesterday is spooking the market. Global Times editor Hu Xijin says his team has received notice about a […]

Comments from EU  There are some comments from EU members (including Merkel) on the vote and going forward. meanwhile German Chancellor Merkel weighs in by saying: Continue Reading:… Search Web: EUs Von […]

CNBC reports According to CNBC, China still has concerns regarding hard agricultural buy targets. Stocks have moved lower on the headline.   The Dow implied opening moved into the red (-3 points currently).  S&P is also […]

CNBC Chief senior correspondent Eunice Yoon reporting from Beijing , CNBC chief senior correspondent in Beijing is tweeting reasons why China’s Xi would take Pres. Trumps deal. Continue Reading:… Search Web: CNBC Yoon: Chatter in Beijing on […]

The JPY is the weakest No surprise here. The GBP is the strongest of the major currencies after the resounding victory by the Tories and Boris Johnson in the general elections.  The […]

Forex news from the European morning session – 13 December 2019 Headlines: Markets: – GBP leads, JPY lags on the day – European equities higher; E-minis up 0.4% Continue Reading:… Search Web: […]

But the data will fail to capture the post-election sentiment As such, UK economic data may take on some importance again from now onwards but don’t expect next week’s data slew to […]

Comments by ECB governing council member, Francois Villeroy de Galhau – Sees beginning of stabilisation in the euro area It seems to be a consistent message today that ECB members are seeing […]

A Cabinet readout via state television is airing now in China – Aims to cut financing costs for smaller firms by 50 bps next year ForexLive The state television newscast apparently did […]

WSJ is now also reporting on the lack of confirmation by the Chinese camp Adding that the Chinese foreign ministry spokeswoman today did not even confirm the existence of a deal all […]

Comments by Chinese diplomat, Lu Kang, on trade here Part of me thinks that they are hinting at something – perhaps they still don’t see the tariffs exchange for their firm commitments […]

Equities remain in a cheerful mood as we approach mid-morning in Europe ForexLive It is steady as she goes for US futures as they keep gains of around 0.4% to 0.5% during […]

China has not given an official response to the trade deal that the US camp has fashionably talked up yesterday If so, what does that mean for the 15 December tariffs? Are […]

Comments by ECB governing council member, Vitas Vasiliauskas looking to tweak their inflation mandate ForexLive Continue Reading:… Search Web: ECB’s Vasiliauskas: Inflation target is key issue to discuss

BOE releases its latest consumer inflation expectations survey results – 3.3% – Inflation expectations for five-years ahead 3.6% (3.1% previously) ForexLive Continue Reading:… Search Web: BOE/TNS November inflation expectations 3.1% vs 3.3% […]

Cable back down to 1.3360 currently ForexLive Nothing ever goes up in a straight line and this is befitting of the price action we’re seeing in the aftermath of the UK election […]

Treasury yields have slipped back lower in the past hour ForexLive US 10-year yields are down to a session low of 1.88%, retracing some of the move higher since yesterday. Notably, yields […]

AUD/USD is holding above its 200-day moving average ForexLive A daily close above the 200-day MA (blue line) will be the first since March 2018. Yesterday, buyers were shy by just 2 […]

Comments by ECB vice president, Luis de Guindos – Calls for structural reforms and fiscal policy to take over from monetary policy – Says that there are signs of economic stabilisation ForexLive […]

Cable ranged around 1.3450-70 before slipping to 1.3415 and is now just above that in early morning trade ForexLive 50 pips here and there feels like nothing considering the pair made gains […]

UK stocks are lower on the back of a stronger pound – Eurostoxx +1.0% – Germany DAX +1.2% – France CAC 40 +1.5% – UK FTSE -0.6% – Spain IBEX +1.5% ForexLive […]

Latest data released by the National Statistics Institute – 13 December 2019 – CPI +0.4% vs +0.4% y/y prelim – HICP 0.0% vs 0.0% m/m prelim – HICP +0.5% vs +0.5% y/y […]

Comments by European Council president, Charles Michel – It is very important that we guarantee the level playing field – We will negotiate closely with the UK ForexLive Continue Reading:… Search Web: […]

Germany’s central bank keeps things real as we look towards the new year – 2019 GDP forecast seen at +0.5% (previously +0.6%) – 2020 GDP forecast seen at +0.6% (previously +1.2%) ForexLive […]

Johnson has secured the largest Conservative majority since the 1987 election – With this election, we put an end to all those miserable threats of a 2nd referendum ForexLive Continue Reading:… Search […]

Comments by the Chinese foreign ministry I reckon they’re likely weighing up that option against the offsetting of tariffs that Trump is said to have offered as per overnight reports. But at […]

Silver waiting in the wings, via Bloomberg I came across an interesting piece yesterday on Bloomberg’s market live blog making an interesting point about silver and gold on a December 15 tariff […]

Solid gains observed in early trades – German DAX futures +1.4% – French CAC 40 futures +1.5% – UK FTSE futures +0.3% ForexLive UK stocks are failing to partake in the good […]

Latest data released by Destatis – 13 December 2019 – -0.1% – Wholesale price index -2.5% y/y – Prior -2.3% ForexLive Slight delay in the release by the source. The index measures the […]

Comments by EU internal market commissioner, Thierry Breton – But trade talks with UK to be ‘extremely complex’ ForexLive Once we get past the election euphoria, the focus of the pound will […]

The pound jumped on the exit poll and has been maintaining gains since ForexLive The pound is the biggest mover but all that came in one quick move to the topside after […]

Trump offers his congratulations to Johnson on the election win "Congratulations to Boris Johnson on his great WIN! Britain and the United States will now be free to strike a massive new […]

Daily thread to exchange ideas and to share your thoughts Meanwhile, US and China are seen moving closer towards some form of trade truce and that has kept risk trades more buoyant since overnight […]

US-China trade optimism and a smooth UK election is the perfect tonic for risk assets to wrap up the week A smooth-sailing UK election victory for the Tories is also helping in […]

CNBC reporter says that China leaders have not accepted the deal just yet, citing sources – including one from the government "Hearing from sources here- one government- #China leaders not yet accepted […]

How the ‘red wall’ has been torn down (Left) UK voting map in 2019; (Right) UK voting map in 2017 ForexLive : Conservatives Blue : Labour Red : Lib Dem Orange : […]

The Tories reach the 326 seats threshold with more seats yet to declare Continue Reading:… Search Web: UK election: Conservatives officially secure an overall majority in the election

The election was over the second the exit poll was released If anything, the actual results only served to humiliate Jeremy Corbyn even more during the night as he now announced that […]

Some light data to go through as we await Boris Johnson’s victory lap I mean, where is the dramaaaa? I kid. Risk assets have taken more encouragement from both events as we […]

The results were pretty much over first thing with the solid exit poll for the Tories Results throughout counting have only cemented the majority. Latest: – Johnson’s Conservatives are up 38 seats […]

Cool, so to replace the Brexit  drama we’ll get another shot at Scottish independence Surgeon flagging another referendum  ForexLive Continue Reading:… Search Web: UK election – Scotland’s Fist Minister clear that Scotland […]

For those of us in Asia its time to begin making weekend plans! This thing was over (the election, not the weekend) at 2200GMT with the exit poll Since then its only […]

The exit poll suggest it and the results since have only confirmed it Big win for Johnson Results so far; ForexLive Continue Reading:… Search Web: UK election counting update – “Conservatives win […]