RBNZ likes a surprise The RBNZ’s surprise rate cut last month by 50bps invited, as we expect on surprise rate cuts, immediate NZD sellers. For the rate meeting this week on September […]

Via Reuters More on the fall   The sad end of an era and a business said to be still working in brochures, with much of the rest of the market operating […]

Russia comply with OPEC+ deal According to Ifax Russia will cit Septemebr’s oil output in order to comply with the OPEC+ deal.  ForexLive Continue Reading:… Search Web: Russian Energy Minister Novak: September’s […]

US Futures Risk sentiment still fragile and in the balance as the weak PMI data from earlier is digested. ForexLive Continue Reading:… Search Web: S&P500 futures +0.20%

US Oil falls US Oil is now falling on the production level news reported   earlier here. I typed up a trade primer for oil production news earlier this am. where I […]

More risk off sentiment ahead Society Generale have announced a sell limit order at 120.00 on the EURJPY pair. They target 116/00 with a stop at 121.50.  Trade parameters marked on the […]

via Reuters Saudi’s Khurais and Abqaiq oil facilities set to have restored oil production by next week,  ForexLive Continue Reading:… Search Web: Oil news : Saudi oil production to be restored by […]

Expect sellers on pullbacks The PMI numbers today are really poor and that is going to be weighing on EUR sentiment for the rest of the day. Germany’s 41.4 manufacturing level is, […]

Quick look as PMI impact settles The weak PMI data was not a surprise, but the flow through into service data is confirmation of the feared inevitable, hence the weakness we see […]

Risk off tone enters the market Weak manufacturing PMI’s are now filtering through to service PMI’s and that is weighing on equites. Risk is in the balance now after these weak PMI’s. […]

Latest data release by Markit  Eurozone figures reflecting the weaker German and French PMI’s out earlier. ForexLive Continue Reading:… Search Web: Eurozone September manufacturing PMI’s 45.6  vs 47.3 expected

EURUSD falling towards daily support  EURUSD shorts have entered the market after the two weak PMI readings from Germany and France.  showed the weakest expansion in four months. German headline manufacturing showed […]

Latest data release by Markit/BME More poor readings and this bodes badly for Q4 eurozone growth. EURUSD  ForexLive Continue Reading:… Search Web: Germany August flash manufacturing PMI 41.4  vs 44.0 expected

Latest data released by Markit  ForexLive Continue Reading:… Search Web: France September Manufacturing PMI 50.3 vs 51.2

GBP dragged down  The GBPUSD  has fallen as the expectations of a Brexit deal this week are dialled back. Boris Johnson was on the wires earlier and the general feel of his […]

ICYMI t and sad news to wake up to in the UK.  Thomas Cook was a well recognised UK travel brand and UK Labour party’s finance policy chief says the Government should […]

Daily thread to exchange ideas and to share your thoughts  Greetings one and all as we get into a new week. I will be keeping the fires burning while Justin takes a […]

Nifty +2.74% Not a market we regularly report on, but India’s Nifty is now +2.74% on Mod’s government decision to boost fiscal stimulus.  Corporate tax cut announcements announced on Friday last week […]

Via Bloomberg Dollar may head lower this week with some of the Fed’s more dovish members to speak. Bullard, Evans, Kashkari and Clarida are all scheduled to speak. The potential is that […]

Via Ransquawk PM Johnson not pinning hopes on getting a breakthrough on Brexit talks in New York.  downplayingbreakthrough. EU’s Donald Tusk will meet PM Johnson this week around the sidelines of a […]

Via Reuters GBPUSD suitably unfazed on these breaking headlines from PM Johnson. GBPUSD at 1.24798 ForexLive Continue Reading:… Search Web: Brexit: PM Johnson on the wires

US Oil Over the weekend Aramco said that repairs to the Saudi Plant could take many moths rather than weeks to complete. The time that the repairs would take is the obvious […]

Currency strength The NZD and the AUD are the weakest currencies against the USD this am and the JPY is marginally the strongest reflecting the sensitive environment to risk. CAD is the […]

Quiet scheduled session It’s looking quiet ahead on the data calendar with only some European PMI’s on the slate. The current state of play for the ECB is that there is a […]

Mixed on US-China headlines Good morning, afternoon and good evening one and all. I will be taking us through the next sessions while Justin takes a well deserved break.  Continue Reading:… Search […]

Forex news for Asia trading Monday 23 September 2019 After Friday’s reports that the Chinese trade talks delegation were heading home early we got news from both sides over the weekend that […]

Probably of interest to a small number of folks only, but might be worth a read anyway.   at the link.  Much more here ForexLive Continue Reading:… Search Web: Moody’s: Growing frequency […]

Thomas Cook has gone into administration, leaving around 150,000 (mainly) UK holidaymakers stranded abroad There will be ‘rescue packages put together to get everyone home, but for the days and weeks ahead […]

The Reserve Bank of New Zealand  decision is due at 0200GMT on Wednesday 23 September 2019  – Expectations are for on hold (unanimous so according the Bloomberg survey) A what to expect […]

Intercontinental Exchange debuts futures contracts that can result in delivery of the digital currency offering a daily contract – will be available to buy or sell for 70 days into the future […]

An ICYMI from Gluskin Sheff chief economist and strategist says the Federal Reserve’s FOMC will cut rates in October and December –  and through 2020 – "The economy is already slowing down" […]

Weekend report in Reuters on the cryptocurrency, citing Speigel US dollar will make up 50 percent of the basket of currencies backing Facebook’s planned digital coin Libra Continue Reading:… Search Web: German […]

People’s Bank of China  In open market operations – PBOC injecting 20bn yuan in 7 day RRs – PBOC injecting 80bn yuan in 14 day RRs ForexLive Continue Reading:… Search Web: PBOC […]

EUR/USD  USD/JPY  GBP/USD  USD/CAD ForexLive Continue Reading:… Search Web: (not many) FX option expiries for Monday September 23 at the 10am NY cut

I hope Boris does not get his hopes up too high, Trump’s history of striking trade deals is a poor one  Reuters headline at this stage, more details to come   Continue […]

Earlier post on yen, concerning BOJ efforts: This also from GS – yen and gold both haven assets to offset risk off shocks – yen a cheaper option than gold – gold-price […]

Klaas Knot heads the Dutch central bank and thus sits on the European Central Bank  Governing Council Knot went public with his dissent from the ECB decision last week to reboot bond-purchases Continue […]

For the first 20 days of September  – exports down 21.8% y/y – imports down 11.1% y/y – exports to China down 29.8% South Korean exports of information and communication technology (ICT) […]

Report from coordinating body for Australia’s main financial regulatory agencies, via Reuters  – potential for risks to Australia’s financial stability from falling housing prices in Sydney and Melbourne has abated somewhat — Continue […]

Goldman Sachs economists on the Bank of Japan and the yen  – GS citing US data to come alongside geopolitical risk makes yen the best G10 long – Goldman Sachs economists expect […]

Australia CBA / Markit preliminary PMIs for September Manufacturing 49.4 – prior 50.9 Services 52.5 – prior 49.1 Composite 51.9 – prior 49.3 more to come      Continue Reading:… Search Web: […]

This is not quite a preview of the RBNZ meeting on September 25. The New Zealand Institute of Economic Research (NZIER) Monetary Policy Shadow Board is independent of the Reserve Bank of […]

Friday US trade was impacted by the news of China’s trade negotiation delegation to the US: Flows into yen and out of risk on this, as you would expect. Weekend reports have […]

The news over the weekend was of repairs likely to take longer than the market had been led to believe last week: Further backing this up was news out of Japan: Continue […]

Comments via BNY Mellon Investment Management on sterling, euro and Brexit.  GBP to head towards parity against both the USD and euro in the event of no deal Brexit  Continue Reading:… Search Web: […]

You know how it is, your car is making a funny noise so you take it to the mechanic. "Yeah, leave it with me, shouldn’t take long" The  you get the phone […]

Mario Draghi, President of the European Central Bank testifies at the European parliament, his ‘Monetary Dialogue’. – Begins at 1300GMT These are where Draghi is questioned on monetary policy and his economic […]

A weekend piece in Japan’s on concerns over supply of oil to Japan from Saudi Arabia:  Nilkkei – surances that the company’s supply would be restored by the end of September Earlier […]

Welcome back from the weekend! 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 Web: […]

Zhou Xiaochuan, a former governor of the pbocc  People’s Bank of China speaking over the weekend  existing global monetary and financial order is facing daunting and unprecedented challenges Continue Reading:… Search Web: […]

UK courts are hearing arguments on two challenges to the government in relation to Boris Johnson shutting down parliament. – Judgements are not expected on Monday (September 23) Continue Reading:… Search Web: […]

Not a lot on the calendar today at all, but do bear in mind that the data agenda only covers expected events, there will be unexpected events (lookin’ at you Mr. Tweety […]

Its a Japanese market holiday today for Autumn Equinox Day. This will thin forex liquidity out somewhat, but once Singapore and Hong Kong are in it’ll likely settle into a regular sort […]

DJ with the report on a more pessimistic outlook for repair time compared to what the market was led to believe last week. Oil traders might like to take note, should be […]

Good morning, afternoon or evening & welcome to Monday morning. The early indications: I’ll be back with weekend news round-up soon. ForexLive Continue Reading:… Search Web: Monday opening FX rates – foreign exchange […]

What was Warren Buffett saying in 1985 Warren Buffett feels like he’s been around forever but he was far from a household name until the late 1990s. Continue Reading:… Search Web: Watch […]

Risk management 101 This article is for you if you want a starter on risk management that is practical and simple to follow. I have written recently on the attitude required to […]

Forex news for North American trade on September 20, 2019: Markets: – Gold up $17 to $1516 – WTI crude flat at $58.09 – US 10-year yields down 6.6 bps to 1.72% […]

Closing back below the 100 day MA… The GBPUSD last Friday at 1.2496. That was just below the 38.2% of the move down from the March high at 1.25009 and below the […]

Nasdaq falls 0.8% to today The major US stock indices are ending the session in the red for the day. The declines today also helped push/keep the week lower. Continue Reading:… Search Web: US […]

Spain gets an upgrade from Standard & Poor’s A glorious day for Spain, who is already at borrowing at +0.236% for 10 years. ForexLive Continue Reading:… Search Web: Spain raised to A […]

For exit futures positioning data among noncommercial traders the week ending September 17, 2019 – EUR short 69K vs 50K short last week. Shorts increased by 19K The EUR shorts have started […]

Except stock markets Here’s a quick rundown: Those are all session extremes in a sign that the market is increasingly worried about China-US talks falling apart. Continue Reading:… Search Web: Risk trades […]

Comments from Kaplan: ForexLive Continue Reading:… Search Web: Fed’s Kaplan says he doesn’t see another cut this year but is open minded

You would think there would be quick denials if there were no problems News travels faster than ever. It’s been 90 minutes since the news of China cancelling agricultural visits for early […]

The high and low stalled within the "value" area for the pair Traders can define the "value area" as the price area where most of the price action takes place.   Extremes are […]

Maybe it was a scheduling issue? A spokeswoman on CNBC from the Montana agricultural bureau said that the China visit to the area was hastily arranged yesterday but that they got a […]

High was near 50% midpoint The USDJPY moved lower on Monday after the bombing of the Saudi oil facilities.  That run ower took the price down to the broken 38.2% of the […]

Fresh China headlines I don’t think this moves the needle any more than the Montana news. The big question is they cancelled. why The market doesn’t want to jump to conclusions but […]

The Chinese delegation is going home Risk trades have been upended by the news that China’s trade delegation is leaving the United States earlier than planned. Continue Reading:… Search Web: USD/JPY slides […]

Comments from the Dallas Fed President: This is similar to what he’s been saying for the past six weeks. What’s notable now is that he’s repeating it after two cuts, which is […]

China packs up and goes home That doesn’t sound good. Stocks drop hard, USD/JPY too. The Montana Farm Bureau says China’s delegation has cancelled a planned trip to view US agriculture. Chinese […]

Bullard on Wharton Business Radio The interview is ongoing. Bullard dissented in favor of a 50 bps cut so expect some dovish comments. ForexLive Continue Reading:… Search Web: Fed’s Bullard: Shouldn’t ignore […]

Weekly rig count from Baker Hughes ForexLive Continue Reading:… Search Web: Baker Hughes US oil rig count 719 vs 733 prior

It’s Friday so it’s time for the weekly Baker Hughes rig count The weekly Baker Hughes recount will be released at the top of the hour. The expectations are for: Continue Reading:… Search Web: Baker […]

President Trump speaking at a press conference with Australia’s prime minister – China agricultural purchases is not enough – looking for complete deal with China ForexLive Continue Reading:… Search Web: Pres. Trump: […]

Increase of $1.83 trillion for the quarter US household net worth for the second quarter rose by $1.83 trillion to $113.5 trillion. The prior quarter saw a increase of $5.1 trillion. Continue […]

Not a great look The Australian dollar has fallen to the lowest since September 3. Early in the month, AUD/USD rebounded from a triple bottom near 0.6700 largely due to optimism about […]

German DAX little changed. France’s CAC Up 0.5% For the week, the major indices are ending with modest changes: In the benchmark 10 year note sector, yields are ending mostly lower with Italy the exception: Continue Reading:… […]

Tweet from Hu Xijin The US exempts more than 400 Chinese products from tariffs, which is seen as a goodwill signal by China. Interaction of goodwill between China and the US is […]

Comments from Rosengren He also took some shots at WeWork (without naming the company), saying co-working firms face a bigger risk of default in a downturn and that could hurt commercial real […]

Comments from the King Sounds tame but you never know. ForexLive Continue Reading:… Search Web: Saudi Arabia will take appropriate action after attack probe – King Salman

Industrial production, capacity utilization, and housing data drives the increase The New York Fed also forecasts Q4 growth. They see it at 2.0% this week. That was up from 1.1% last week. […]