News

Not a good look for risk going into European morning trade S&P 500 futures are now down ~0.8% to a fresh low and that is keeping the dollar slightly more bid as we start to look towards European trading. The ranges in the major currencies space are still relatively modest but the greenback is keeping

Libya restarts production Worries about a virus pickup and the return of Libyan oil are weighing heavily on crude. There is also the death of the Kuwaiti head of state to consider and the fumbling on the EU recovery fund. Crude was trading at $40.25 when New York traders arrived, it’s down to $38.62 now,

German states will be releasing their CPI prints for September today Inflation across the euro area remained more subdued in August and are expected to keep that way in September as well. The expectation is for German headline inflation to keep flat at 0.0% y/y – similar to last month. The key takeaway here is

House Speaker Pelosi speaking on MSNBC spoke with Treasury Secretary Mnuchin on Sunday regarding Covid 19 aid Will talk again with the Treasury Secretary today Ready to talk but administration must come to the table with more money to fight Covid. The speaker is touting a 2.4 trillion aid package. It is thought that that

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

It’s non-farm payrolls week It’s been a September to remember with some good volatility throughout financial markets. Next week we will turn the calendar to October and that means we’ll get the September jobs report. Monday: Dallas Fed Tuesday: Advance goods trade balance Wholesale inventories Case-Shiller house price index Conference Board consumer confidence Wednesday: ADP

Johnson & Johnson’s experimental Covid-19 vaccine phase 1/2 trial findings have provided some encouragement. induced immune responses in most people who received the shot displayed an acceptable safety profile Now for some caveats. These are from a small early-stage trial. They are interim, posted on online preprint server medRxiv. The report is not yet peer-reviewed, not

Fitch on the UK rating From Fitch, who lowered the UK to AA- in March. The UK’s ratings balance a high income, diversified and advanced economy against high and rising public sector indebtedness. Sterling’s reserve currency status, deep capital market and strong governance indicators support the ratings. The very long average maturity of public debt

Forex news for North American trade on September 25, 2020: Markets: Gold down $6 to $1861 US 10-year yields down 1.3 bps to 0.65% S&P 500 up 52 points to 3298 WTI crude down 21-cents to $40.10 USD leads, EUR lags We came into the day on a delicate footing and with stock futures lower.

Reuters report citing unnamed sources To raise debt-to-GDP target to 160% from 157.6% in August. Will aim to lower to 156% in 2021 Will raise budget deficit target to about 12.8% of GDP from 11.9% in Aug To target 2021 at 7% To set 2021 GDP growth target at 6% from 4.7% in April Remember

Evergrande warned of cash troubles yesterday and fear is spreading Friday in China The group’s 4 yr bond has been halted in trade  Shares traded up but have given back their gains today.  The group warned Chinese officials it faces a potential default. Fears are such a large default could become a systemic issue. Issues

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

Global Times with the report: Two Australian “anti-China” scholars have been banned from entering China, the Global Times learnt from sources. The two are: Clive Hamilton, professor of public ethics at Charles Sturt University in Canberra. Works mainly on climate change and CCP influence. Alex Joske, analyst ASPI_ICPC ( Australian Strategic Policy Institute International Cyber Centre) studying the

Sunak makin’ it rain Cable is a bit higher on these headlines from Sunak, which suggest something to replace the furlough scheme. The answer to the coronavirus so far has been to throw money at it; so it will be no surprise when the answer to the resurgence is to throw more money at it.For

Forex news for Asia trading Wednesday 23 September 2020 USD strength extended a little further during the Asian timezone today, even against the yen. USD/JPY moved to a high circa 105.20 and as I update its drifted back to the middle of its range just under 105.10. EUR, GBP, CHF, CAD and AUD are all

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

Forex news for Asia trading Tuesday 22 September 2020  Reserve Bank of Australia Deputy Governor Guy Debelle spoke today on his economic and policy outlook. In his speech he indicated four further options the RBA is considering: to buy bonds further out along the curve to lower rates at longer maturities FX intervention (conceding while

Libya could tip the market into oversupply Libya is a major wild card in the global oil market. In late 2018, Libya was producing 1.2 million barrels of oil per day. That fell to 800K bpd at the start of this year as the civil war ramped up. Currently, exports are minimal because of a