European equities and US futures are keeping higher All in all, this is keeping the dollar in a weaker spot as we see EUR/USD at session highs around 1.1840-45 with GBP/USD attempting […]

Latest data released by Eurostat – 5 August 2020 It remains to be seen if consumption/spending can be sustained at such better levels in Q3/Q4, and that will be subject to virus […]

Is this the start of some acknowledgement by the government to take more serious actions to curb the virus spread? The latest virus resurgence in Japan has already well exceeded the initial […]

Latest data released by Markit/CIPS – 5 August 2020 The preliminary release can be found . Much like the euro area, the UK economy showed modest signs of a rebound as activity […]

Latest data released by Markit – 5 August 2020 The preliminary release can be found . That is more or less close to initial estimates as the final report reaffirms that the […]

Latest data released by Markit/BME – 5 August 2020 here Moving forward, the focus will turn towards how labour market conditions hold up – especially in the latter stages of Q3 – […]

Latest data released by Markit – 5 August 2020 The preliminary release can be found . A slightly lower revision but it reaffirms a decent rebound in French economy activity as domestic […]

Latest data released by Markit – 5 August 2020 Italian services activity returned to growth in July, picking up further following the easing of lockdown restrictions in the country. Demand conditions were […]

No reprieve for the greenback across the board The decline in the dollar from overnight trading is extending as such and the technical signs aren’t looking all too good at the moment: […]

Latest data released by Markit – 5 August 2020 The rate of growth for the services sector isn’t suggestive of any material improvement from June and activity levels are still well below […]

Bullion fever is stoking better risk tones in the market But just be mindful of an extended and further dip in Treasury yields that could toy with market emotions down the road […]

Gold pushes to a fresh all-time high of $2,033 Upon breaking the 2011 high, gold has put up a good showing as gains consolidated just around $1,980 levels before breaking above that […]

TV Asahi reports with the latest figure That is slightly lower compared to the 309 cases found yesterday, but is still resting at a relatively high count when taking into account the […]

via Bloomberg I came across an interesting piece on the Nasdaq yesterday on Bloombergs market’s live blog. The piece made a case for another 10% gain in the US tech driven Nasdaq. […]

Kyodo News reports with the headline Aichi has confirmed over 2,300 coronavirus cases during the pandemic, with total active cases sitting at just over 1,700 as of the latest reporting. Continue Reading:… […]

Slightly better tones in early trades – German DAX futures +0.4% – UK FTSE futures +0.2% – Spanish IBEX futures +0.2% This follows the better performance by US equities in late trading […]

A mixed session for Asian equities Japanese stocks close a little lower but closer to the highs for the day, trading more mixed amid the continued back and forth on US stimulus […]

This was already preluded by the RBA statement yesterday The RBA is stepping in to buy 3-year bonds as part of its yield curve control efforts, as mentioned already yesterday . This […]

Daily thread to exchange ideas and to share your thoughts The outperformance in gold is one of the key headlines overnight, with Treasury yields continuing to nudge lower adding to tailwinds for the precious […]

S&P places Victoria state’s AAA rating on negative watch On the decision to place the state on negative watch, they say that they will aim to resolve their decision in the next […]

Euro area final services PMI for July on the agenda today move above $2,000 Treasury yields continue to sink further and with real yields sitting further in negative territory, it continues to […]

Japan enacted a special employment subsidy to help firms hit by the coronavirus keep furloughed workers on the payroll Reuters citing a labour ministry official. Continue Reading:… Search Web: Japan is considering […]

Sender Co. traded alongside Robinhood traders on their favourite picks, but also faded some of them to gain 30%  – The fund trades included companies Hertz through its bankruptcy  Continue Reading:… Search […]

Forex news for Asia trading Wednesday 5 August 2020  After leaping above $2,000 during US trade gold carried on higher to touch above $2,030 before losing some steam. On the currency board, […]

A Wall Street Journal piece citing a "large national study".  The study was presented last weekend so I am not sure why the Journal is saying this is an ‘exclusive’. But, there […]

Coming up on 6 August, BoE monetary policy decision – No change in in in the benchmark rate is expected. Via Scotia, a little more: Preview posted earlier: Continue Reading:… Search Web: […]

Commerzbank see drops ahead for both silver and gold. Silver: Silver weekly candles Gold: Continue Reading:… Search Web: Technical analysis says gold and silver both on the path for a drop

China Caixin/Markit PMIs Services and Composite for July Continue Reading:… Search Web: China Caixin Services PMI July 54.3 (expected 58.0) & Composite 54.5

– Owner occupier +5.5% m/m vs. expected +3.5% and prior -10.2%  The ‘prior’ figures (May) were a shocker, of course. June showing some improvement as the country exited lockdowns (Vic going back […]

Alex Azar is the United States Secretary of Health and Human Services. – He is off on a trip to Taiwan – The trip is said to be a gesture to snub […]

A lazy AUD500m of Oz bonds  The Reserve Bank of Australia said in their decision yesterday they’d be buying ion the 3 yr window today to knock yields a little lower. Done. […]

People’s Bank of China central rate for onshore yuan trade in the session ahead – USD/CNY can vary +/- 2% from this rate  – there is no such restriction on offshore yuan […]

Light one ahead for expiries, USD/JPY 106.00 strike amount of 560m USD Continue Reading:… Search Web: Forex options for expiry at the 10am NY cut on Wednesday 5 August 2020

The headline is the very brief summary of Rabobank on the euro, the bank looking for a drop Bottom line: Citing: I posted earlier an alternative view for the euro … have […]

NZ data on prices for the country’s main exports in the past month. Earlier data from NZ showed a surprise on the jobless rate: ANZ point to higher dairy prices during the […]

P Comments from Markit:  The ‘ dependent on the virus’ viewpoint is a constant caveat, as Fed Chair Powel said last week, almost the same as Markit here: Continue Reading:… Search Web: […]

Another big number is the chatter, around 725  Continue Reading:… Search Web: Rumour is the Victorian state of Australia will report 725 new coronavirus cases today

Comments from Danske on the euro, this via eFX () For bank trade ideas, check out eFX Plus   For bank trade ideas, check out eFX Plus Continue Reading:… Search Web: Why […]

Queensland borders will close to New South Wales & the Australian Capital Territory from 1am Saturday, August 8. – All visitors will be denied entry except for rare exemptions & returning Queenslanders […]

CBA/Markit Services and Composite PMI for July (final) – preliminary and prior are "Key findings" outlined in the report: News out from Australia at pretty much the same time that Virgin Airlines […]

New Zealand jobs report for Q2 2020 eat  Unemployment rate 4.0% for a stonkingly huge b Employment change -0.4% q/q  Employment change +1.2% y/y Participation rate 69.7% Continue Reading:… Search Web: New […]

Says he is considering suspending payroll tax Says he may have to do something on suspending evictions He is rambling on: – progress has been made on stimulus talks Continue Reading:… Search […]

Australian Industry Group Performance of Construction Index Another contraction for the sector in the month of July, coming at 42.7, up from  – prior of 35.5   Continue Reading:… Search Web: Australia […]

The GT is a state owned tabloid newspaper in China It calls out the United States for "nasty" treatment of TikTok – "The US’ decoupling from China starts [with] killing China’s most […]

Vote by next week Two weeks ago Mnuchin said pretty much the same thing, so do bear that in mind.  More: – trump is very focused on protecting renters from eviction  Meadows […]

Pelosi earlier indicated there had been a little progress, Mnuchin & Meadows made some concessions.  M&M now meeting with the Senate leader Continue Reading:… Search Web: US economic package update – Meadows […]

China’s US Ambassador Cui Tiankai spoke at the Aspen Forum. Ealier:Earlier: Asked about the meeting coming up on the 15th  (related to this ICYMI: – ) Said: Continue Reading:… Search Web: More […]

Trump’s nonfarm payroll preview The NFP is due on Friday 7 August 2020 at 1230GMT – consensus median estimate for the headline figure is +1500k  Continue Reading:… Search Web: Trump says big […]

Senate Dem leader Schumer says there will be two meeting tomorrow – Ds and Rs are "still far apart" – the crux of the dispute is the "scope and depth of the problem and […]

 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:   Continue Reading:… Search […]

Telegraph says Sunak may hike rates on the most valuable properties Continue Reading:… Search Web: UK press report that UK Chancellor Sunak talks of rate hike

This is the private survey of inventories, official data is Wednesday morning (US time). A larger draw than was expected. more to come    Continue Reading:… Search Web: Private oil data shows […]

China’s ambassador to the US Cui Tiankai says Beijing does not want to see escalation following mutual consulate closures Continue Reading:… Search Web: China’s ambassador to the US says does not want […]

DJ/WSJ report on upcoming compliance discussions, citing unnamed sources  – US Trade Rep Lighthizer and Chinese Vice Premier Liu He will meet to discuss China’s compliance with Phase One Continue Reading:… Search […]

Earlier post is here: WSJ report on "Novavax Covid-19 Vaccine Produces Positive Results in First-Stage Study" The link for more info in that story is to the Wall Street Journal report, which […]

Mohamed El-Erian speaking on the Reuters global markets forum:  – I do not expect US stocks to revisit the March lows" – suspect next big correction will likely be triggered by corporate […]

Forex news for North American trading on August 4, 2020: Markets: – Gold up $40 to record $2017 – US 10-year yields down 4.7 bps to 0.506% – WTI crude up 55-cents […]

Late day rally takes the indices to new session highs The final numbers are showing: Although there is no coronavirus deal, just before the close Senate Majority Leader Mitch McConnell said he […]

The Wall Street Journal with the news on a potential coronavirus vaccine  Here is the link for the whole thing (may be gated)   In brief: Continue Reading:… Search Web: WSJ report […]

Today on the data agenda is below. The factors most likely to move FX rates will be developments on coronavirus treatments, US-China relations and in the immediate hours ahead negotiations on the […]

Works on the June low at 1.33144 The USDCAD is trading to a new session low and in the process has taken out end of July lows at 1.33302. The low is extending to 1.3322 […]

Are we listening to what the peso is saying? USD/MXN is higher for a sixth day in a row, including strong moves in the past three. Generally, that’s a sign of risk […]

Ping ponging between MAs The USDCHF is down testing the 100 hour MA (well now ticking below it) at 0.91376.  Earlier in the day, the price stalled just ahead of that MA […]

Who to believe? Mnuchin told colleagues in a lunch meeting that there has been no progress in a week. The Agriculture Secretary said a deal could be two weeks away. Pelosi says […]

Up $0.69 or 1.68% The high for the day did extend above that midpoint level all the way up to $42.08 before backing off into the close. The low price for the […]

What would tilt the bias more to the downside in the USDJPY Adam posted on …. Sell the USDJPY.   TD’s trade of the week What are the charts saying to that idea? […]

Tweet from Alex Bolton from The Hill just now: Market action today is tough to completely explain but I think it’s signalling (aside from bonds) that it’s going to be closer to […]

The latest numbers JPMorgan is out with its latest credit/debit card spending data today and the trend is modest. There’s clearly been a flattening since mid-June and that’s something the Fed’s Barkin […]

USD/JPY is down 18 pips to 105.77 today TD is out with its weekly FX pick and recommends selling USD/JPY with a target of 104.00 and a stop at 107.75. "The JPY […]

Two days in a row The price of the EURUSD fell below its 200 hour moving average early in the New York session, only to fail on a break.   That is the 2nd day in […]

Gold rises to an all time high Gold prices hit $2000 for the first time, in a $23 rally today. Gold was lower at the start of North American trading but quickly […]

New all time highs for gold Meanwhile silver is outpacing the rise with a gain of $1.43 or 5.88% to $25.73 (see chart above). Last week the price of silver reached a […]

Pelosi comments to Fox The longer this goes, the more likely it is to be a smaller deal. She said this earlier in the day. McConnell has attacked her for unrealistic demand. […]

Massive explosions in Lebanon An explosion has struck near former PM Hariri’s home in Beirut, according to reports. Videos show what appears to be a explosion and a large fire, followed by […]

Closing changes for the main European bourses: Spanish equities are telling a completely different story than what we’re hearing from the US. Continue Reading:… Search Web: European equity close: Spain far out […]

Crude oil higher The USDCAD has been chopping up and down going back to July 21. Most of the price action has been between 1.3330 and 1.3460 (130 pips over a 10 day). The […]

The latest dairy auction results There’s been no reaction from the kiwi to the auction. Continue Reading:… Search Web: New Zealand GDT price index -5.1%

The 100 hour moving average found dip buyers. The drive toward $2000 continues.  The price of gold is currently up $15.39 or 0.78% $1992.30. The high price extended to $1994.47. The low […]

Testing support at 124.24 to 124.294 The EURJPY has been moving up and down over the last 3 days of trading. The most recent high came on Friday with a spike up to 125.197. […]

Comment from Schumer That’s a positive sign for risk trades. Continue Reading:… Search Web: Senate Democrat leader: Talks with White House on stimulus ‘finally moving in the right direction’

Plenty of opportunities for profit taking The spike higher in gold that started in mid-July was the largest move in recent history so it would have been no surprise to see a […]

Joins Microsoft Axios is reporting that Apple has serious interest in buying TikTok. They now join Microsoft which was thought to be the likely purchaser. Continue Reading:… Search Web: Axios: Reports Apple has serious interest […]

Gold and so are off low levels The fall yield has helped to send gold back up toward unchanged and trades above and below the unchanged level. Silver is also higher.  Continue Reading:… […]

June US factory orders data These are good signs on the economy. Continue Reading:… Search Web: US June factory orders +6.2% vs +5.0% expected

RBA kept rates unchanged The RBA kept rates unchanged as per expectations. The reaction to the statement helped to send the price modestly to the upside. The central bank did say that […]

New York-area survey data Continue Reading:… Search Web: ISM New York business conditions 53.5 vs 39.5 prior

Early declines in the futures are erased A snapshot of the market currently shows: In the US debt market, the yields remain mostly lower with the yield curve flatter with the 2 year […]