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Forex Market News

Speculation gone wild or a new era in the stock market?

Wed, 27 Jan 2021 10:34:27 Z

What makes us think that it can't be both at the same time? The manic moves in GameStop has pitted hedge funds against retail traders - r/wallstreebets in particular - and that is making for some interesting scenes this week.

EUR/USD creeps lower on ECB comments on the euro

Wed, 27 Jan 2021 09:27:04 Z

EUR/USD falls to a session low of 1.2120 from around 1.2135-40 earlier The nudge lower comes after ECB policymaker Knot's remarks earlier , suggesting that the central bank is indeed keeping a watchful eye on the euro exchange rate - especially against the dollar, adding to this report overnight .

ECB's Knot: ECB has tools to counter euro appreciation if needed

Wed, 27 Jan 2021 09:14:04 Z

Comments by ECB policymaker, Klaas Knot - ECB is monitoring strengthening in the euro - Euro strength would take prominence for ECB if it threatens inflation outlook This is knocking the euro a little lower on the day, with EUR/USD falling to 1.2120 currently - creeping below its 200-hour moving average. There is also a slight dollar bid

Switzerland January Credit Suisse investor sentiment 43.2 vs 46.8 prior

Wed, 27 Jan 2021 09:01:03 Z

Latest data released by Credit Suisse and CFA Society Switzerland - 46.8 Investor sentiment eases slightly to start the new year as some of the vaccine optimism from the end of last year has been tempered with by the virus situation across Europe, though the reading remains relatively elevated compared to the Q3 2020 at least.

Dollar keeps steadier so far to start the session

Wed, 27 Jan 2021 08:39:12 Z

All eyes on the Fed today The dollar is holding its ground to start European morning trade, with little change seen across the major currencies bloc for the most part. Commodity currencies are slightly weaker but mostly just paring some of their advance from yesterday.

European equities open lower to start the day

Wed, 27 Jan 2021 08:10:29 Z

Subdued tones to start the session - Eurostoxx -0.4% - Germany DAX -0.5% - France CAC 40 -0.3% - UK FTSE -0.6% - Spain IBEX -0.4% European indices closed yesterday with modest gains but not before a late dip towards the closing stages. The more tepid tones in US equities isn't helping the mood, although futures are pointing to a mixed

France January consumer confidence 92 vs 94 expected

Wed, 27 Jan 2021 07:45:02 Z

Latest data released by INSEE - 27 January 2021

Hydrogen is hot for green investment

Wed, 27 Jan 2021 07:21:46 Z

Hydrogen  Hydrogen has a few key things going for it. Firstly, when it burns its burns clean, There are an ideal replacement for fossil fuels. Remember around 20% of all Co2 emissions come from industry. 

Eurostoxx futures -0.1% in early European trading

Wed, 27 Jan 2021 07:06:44 Z

Tepid tones in early trades - German DAX futures -0.1% - UK FTSE futures -0.4% - Spanish IBEX futures -0.1% This mirrors the lack of enthusiasm seen in US futures as well, with S&P 500 futures trading near flat as we get things started on the session. It looks like we may be in for a more lackluster day

Germany February GfK consumer confidence -15.6 vs -7.9 expected

Wed, 27 Jan 2021 07:00:03 Z

Latest data released by GfK - 27 January 2021 "Closing large parts of the retail sector has hit the propensity for consumers to buy just as hard as it hit during the first lockdown in spring last year. In other words, the recovery that many had hoped for this year will be postponed." That's not quite a

Trade ideas thread - European session 27 January 2021

Wed, 27 Jan 2021 06:48:32 Z

Daily thread to exchange ideas and to share your thoughts Major currencies are little changed in general and equities appear to be more lackluster as well, with S&P 500 futures keeping flatter - down by 4 points or 0.1%.

Nikkei 225 closes higher by 0.31% at 28,635.21

Wed, 27 Jan 2021 06:10:33 Z

Asian equities mostly little changed on the day A slight advance for Japanese stocks on the day but nothing that really stands out all too much. The market is keeping more sideways trading in general as we wait on the Fed.

BOJ's Kuroda on ETF holdings: We would only have unrealised losses if Nikkei falls below 21,000

Wed, 27 Jan 2021 05:25:13 Z

Well, at least there is your new line in the sand here Just be wary that the figure highlighted in the headline is one that will gradually push higher so long as their ETF purchases are maintained over time. It was in the first quarter of last year.

Economic data coming up in the European session

Wed, 27 Jan 2021 05:11:34 Z

A couple of light data points to move things along as we count down to the first FOMC meeting of the new year The dollar was slightly pressured yesterday while US equities were more tepid after the rebound in futures from early losses seen in European trading. That is leaving little for the market to work

Germany reports 13,202 new coronavirus cases, 982 deaths in latest update today

Wed, 27 Jan 2021 05:03:48 Z

The death count continues to stay on the higher side The bright spot is that the case count continues to reflect a plateau of sorts, with active cases easing to ~241,600 as of the latest update above. However, the death count remains on the higher side as total deaths now hit 53,972 persons.

Japan November final leading indicator index 96.4 vs 96.6 prelim

Wed, 27 Jan 2021 05:01:07 Z

Latest data released by the Japanese Cabinet Office - 27 January 2021 - Coincident index 89.0 vs 89.1 prelim Slight delay in the release by the source. Little change to the initial estimate but this is a bit of a lagging indicator as it reflects Q4 2020 activity, which is before all the state of emergency measures

Federal Reserve FOMC meeting Wednesday - preview

Wed, 27 Jan 2021 04:41:21 Z

Federal Open Market Committee statement is due at  - 2pm NY time (1900GMT.)  - Chair Powell's press conference is at 1930GMT A couple of extra snippets on what to expect from a meeting where no change is expected:

BOJ Gov Kuroda says the bank's buying of ETFs helps support the economy

Wed, 27 Jan 2021 04:19:02 Z

Bank of Japan Governor Kuroda answering questions in the Diet today: - BOJ's ETF buying may have helped push up stock prices, but the move as well as our monetary easing steps are aimed at supporting economy

ForexLive Asia FX news wrap: Little change ahead of today’s FOMC statement

Wed, 27 Jan 2021 03:51:56 Z

Forex news for Asia trading for Wednesday 27 January 2021 The US Federal Reserve Federal Open Market Committee meeting will conclude today with the January statement followed a half-hour later by Chair Powell's news conference. Previews are linked above - policy is very likely to remain unchanged, but see bullets above for more.

Moody's on the EU-China agreement - mixed impact

Wed, 27 Jan 2021 03:32:53 Z

The rating agency on the implications ahead, in brief:

China has made plans to cut steel output in 2021

Wed, 27 Jan 2021 02:58:23 Z

China's Ministry of Industry and Information Technology has released a series of measures to accelerate the reduction of steel output. Includes: MIIT says its firmly committed to having steel output wold fall in 2021, will focus on carbon emission targets.

China says it hopes the US will stick with a 'one-China' principle

Wed, 27 Jan 2021 02:28:31 Z

Chian says Taiwan is the most sensitive issue in its relations with the US. Not fresh comments from China, reiterating what they have said many times previously. 

The White House will begin regular COVID-19 briefings again from Wednesday

Wed, 27 Jan 2021 02:23:18 Z

The first one will be at 11am local time Wednesday 27 January 2021  - 1600GMT. 

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