News

10-year Treasury yields seen at 1.35% in European trading today Treasury yields dipped after the US CPI data yesterday, with 10-year yields falling to a low near 1.30% before bouncing back slightly and is recovering further to 1.35% today. Inflation fears cooled after the report yesterday as the details also reveal a lot of messy

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do

Latest data from the Mortgage Bankers Association for the week ending 6 August 2021 Market index 754.8 vs 734.3 prior Purchase index 252.0 vs 247.5 prior Refinancing index 3,684.3 vs 3,571.3 prior 30-year mortgage rate 2.99% vs 2.97% prior A slight bump in mortgage activity after the drop in the previous week, with both purchases

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do

Mester and Evans are on the agenda today Here is the schedule: 1400 GMT – Cleveland Fed president, Loretta Mester, speaks Mester will be delivering opening remarks (estimated for ~5 minutes) at an event hosted by her central bank on “Inflation Risk in the Short and Medium Term: US vs. Europe”. There might be some

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do

A couple of Fed speakers on the agenda to start the new week Here is the schedule: 1410 GMT – Atlanta Fed president, Raphael Bostic, to speak Bostic will be sharing insights about building an inclusive society and inclusive economy through community collaboration in his appearance today. Given the discussion topic, there shouldn’t be much pertaining

Early-week gold trade is seeing a large fall in price.  Oil is down, commodities more generally looking in trouble if gold is anything to go by.  The moves so far do not auger well for the “commodity currencies”. Of the majors, AUD, CAD and NZD all a little lower.  ‘Risk’ more generally is seeing an

The Delta strain of COVID-19 in Australia is spreading more quickly, weekend reported new cases. Report on Saturday (i.e. for Friday’s cases) by state. NSW (Australia’s largest population state) recorded 319 new cases up from 291 the previous day 138 were in isolation throughout their infectious period and 32 were in isolation for part of

A Saturday vote in the US Senate, 67-27 vote in favour of a move to limit debate on the legislation 18 of the 50 Senate Republicans voted in favour this is a procedural agreement, not approval of the actual bill  Negotiations continue on amendments and there are some pundits suggesting work on the legislation could be

In USD terms China’s Trade balance for July was $56.58 bln vs. expected $51.54bn, prior was $51.5bn Exports +19.3% y/y for a small miss on the median consensus estimate expected +20.8% y/y, prior +32.2% Imports +28.1% y/y, also a miss expected +33.0% y/y, prior was +36.7%   China’s trade surplus with the United States ( Reuters calculation) $35.4

Forex news for North American trading on August 6, 2021 The awaited jobs report was released today at 8:30 AM ET, and it did not disappoint. The net change in nonfarm payroll jobs was 943K. That was above the 870K estimate. Moreover, the June report was revised higher by 88K to 938K, and the May report was also revised

What to anticipate ahead of the US non-farm payrolls release? 10-year Treasury yields are up 3 bps to 1.248% on the day as bond sellers are wrestling back some short-term momentum after seeing yields test the July low earlier in the week. There is a semblance of a double-bottom, in the short-term, from a technical

Goldman Sachs is expecting: nonfarm payrolls +1,150k in July  a 0.4pp drop in the unemployment rate to 5.5% GS cite: Labor supply constraints eased further due to the wind-down of federal unemployment top-ups in some states and the addition of over 2 million youth job seekers in June and July strong household employment gain offset

Latest data released by Markit – 5 August 2021 Supply shortages continue to weigh on German construction activity last month, with activity and new orders both seeing a decline. Meanwhile, employment conditions suffered at the quickest pace since October last year. Markit notes that: “Construction activity in Germany remained deep in contraction territory in July

SPC is a processor of fruits and vegetables in the state of Victoria, Australia.  has directed that all 450 onsite workers to be fully vaccinated by November “We believe that the only way that we can get out and protect our employees and our customers, and the communities in which we work is to go

Latest data released by Eurostat – 4 August 2021 Prior +4.6%; revised to +4.1% Retail sales +5.0% vs +4.5% y/y expected Prior +9.0%; revised to +8.6% Retail sales activity in the euro area continues to pick up at the end of Q2 and going into the summer, reaffirming more solid consumption after the reopening. The

Forex news for North American trading on August 3, 2021 The price of oil had a down and up ride today as concerns about a covid slowdown and mid-east (Iranian?) tensions weighed on prices before lifting them back up.  The run to the downside took the price of crude back below the $70 level to