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Forex Market News

Pelosi: I think McConnell might not mind doing stimulus after the election

Wed, 21 Oct 2020 16:23:10 Z

Comments from Pelosi suggest she's not that optimistic Politico picked up on comments from Nancy Pelosi on Sirius XM today. She said Trump only cares about getting stimulus checks into people's pockets and "doesn't care about any of the rest of the terms" but that Mitch McConnell is the roadblock.
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UK confirms that EU will return to London this week for Brexit talks

Wed, 21 Oct 2020 16:04:26 Z

The world's worst-kept secret is confirmed Statement from Johnson's team: Political theatre is the worst kind of theatre. Let's see if we get the 'sell the fact' trade on the announcement.
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UK reports record 26,688 coronavirus cases vs 21,331 yesterday

Wed, 21 Oct 2020 15:47:07 Z

New record high for cases That's a big jump and takes out the 'catch-up' high from early October. There were 191 deaths with a positive COVID test within 28 days compared to 241 previously.
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White House spokeswoman says cautiously optimistic on stimulus deal

Wed, 21 Oct 2020 15:33:02 Z

Comments from Alyssa Farah This is such a tough read but I increasingly believe that they're out of time. The comments are helping stocks pare losses though.
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'Buy the dips' turns into 'sell the rips'

Wed, 21 Oct 2020 15:18:28 Z

Mood sours in stocks The early optimism in US stocks is gone and yesterday's lows have been taken out. We've seen a few early rallies end in tears lately. If there's no big rebound, this will be the third day in the past four where the stock market has made its high in the first hour of
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Pompeo: US designating operations of 6 China media outlets as foreign missions

Wed, 21 Oct 2020 15:08:53 Z

Pompeo amps up pressure on Chinese media This is part of a tit-for-tat that's been going on for awhile. China makes US journalists register and the US is returning the favor.
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Dollar comes up for air after the London fix

Wed, 21 Oct 2020 15:06:51 Z

Some dip buying The dollar is showing a slight pulse following the London fix. It's been trounced today on several fronts but it's gotten extreme on a few of them; GBP/USD in particular.
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Italy reports record 15,199 new virus cases vs 10,874 yesterday

Wed, 21 Oct 2020 14:57:23 Z

That's not good I believe that's a one-day record in cases. The chart doesn't include today but we're definitely going to need to adjust the right axis.
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EU negotiators expect to do to London as soon as tomorrow - report

Wed, 21 Oct 2020 14:43:37 Z

Reuters report That was a badly-kept secret, as you can see with cable up 215 pips.
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EIA weekly US oil inventories -1002K vs -1375K expected

Wed, 21 Oct 2020 14:30:35 Z

Weekly US petroleum data API numbers from late yesterday
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Mester: Fed research shows more needed to explain new strategy

Wed, 21 Oct 2020 14:03:09 Z

Mester on the Fed keeping rates lower Maybe the Fed believes that no one is listening or believes that it will keep rates low. So their strategy is to repeat it over and over.
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Brexit talks set to restart, aiming for deal by mid-November

Wed, 21 Oct 2020 13:59:23 Z

The Brexit news the market has already been telling you This is the worst-kept secret but Bloomberg is reporting that talks are set to restart.
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US dollar assets are suddenly out of favour. Here's why

Wed, 21 Oct 2020 13:53:20 Z

What's the dynamic today? The market moves today are a tough narrative to string together. There are some unique factors at play, including a jump in sterling on Brexit deal optimism. That's also spilled into EUR but the overarching theme is USD weakness.
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S&P 500 opens the day flat

Wed, 21 Oct 2020 13:33:09 Z

Lots of uncertainty out there Don't be fooled by the flat open, there has been lots of movement lately and there is lots of emotion in the market. The stimulus story is hanging by a thread, if only because the clock is running down.
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Canada new home prices jump the most in 14 years

Wed, 21 Oct 2020 13:08:53 Z

Canada is the hottest housing market in the G7 Canadian new home prices rose 1.2% m/m in September compared to +0.5% expected. In August they also rose 0.5% m/m.
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Fed's Brainard: Aside from virus, biggest downside risk is no fiscal support

Wed, 21 Oct 2020 12:52:06 Z

Comments from the Fed Governor (and rumored Treasure Sec candidate) She's teeing up two huge factors in the stock market right now. The main one is the importance of stimulus as we continue to play the deal-or-no-deal game. The second is that big publicly-listed companies are tearing apart small mom-and-pop competition because the Fed is helping
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Canada September CPI +0.5% vs +0.5% y/y expected

Wed, 21 Oct 2020 12:33:06 Z

September CPI data Core measures:The acceleration in the in September was largely due to price changes in the transportation, recreation, education and reading, and shelter components.
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Canada August retail sales +0.4% vs +1.1% expected

Wed, 21 Oct 2020 12:30:31 Z

Canada August retail sales data The y/y changes on this chart really highlight the pandemic-inspired changes. Building materials are up 17.1% y/y
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Paypal to allow users to buy, hold and sell four cryptocurrencies

Wed, 21 Oct 2020 12:26:40 Z

This is huge news for crypto Bitcoin is up $400 to $12,296 today. Part of the reason is that Paypal hass received a conditional bitlicence from the New York State Department of Financial Services and will launch a service for users to be able to buy, hold and sell cryptocurrency.
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Ramsden: BOE could push UK yields lower

Wed, 21 Oct 2020 12:17:37 Z

Comments from the BOE's Ramsden Every time they talk about negative rates it feels like we're getting closer to making it a reality even though Ramsden is speaking out against them here:
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ForexLive European FX news wrap: Dollar beaten up across the board

Wed, 21 Oct 2020 12:01:21 Z

Forex news from the European trading session - 21 October 2020 Headlines: Markets: - GBP leads, USG lags on the day - European equities lower; E-minis down 0.2%
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UK PM Johnson: National lockdown is not the right policy

Wed, 21 Oct 2020 11:23:46 Z

Further comments by Boris Johnson He is pretty much staking his political career on this stance, but it is more of the fact that he would have drawn scrutiny from the opposition either which way.
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UK PM Johnson: Areas with Tier 3 restrictions are already making progress

Wed, 21 Oct 2020 11:15:12 Z

UK prime minister, Boris Johnson, comments in PMQs With the daily case count being this high, it'll take a few weeks to gauge whether or not the latest set of measures will help to curb the spread of the virus across the UK.
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US MBA mortgage applications w.e. 16 October -0.6% vs -0.7% prior

Wed, 21 Oct 2020 11:00:03 Z

Latest data from the Mortgage Bankers Association for the week ending 16 October 2020 -  -0.7% - Market index 794.2 vs 798.9 prior - Purchase index 304.6 vs 311.1 prior here
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UK chief scientific advisor: A vaccine may not completely stop the coronavirus

Wed, 21 Oct 2020 10:22:12 Z

UK chief scientific advisor, Patrick Vallance, weighs in with his latest thoughts about a vaccine and how the world may look like in the future He argues that while there are positive developments in the vaccine space, none are likely to eradicate the coronavirus:
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