Forexlive Latest News

Negotiations between Iran and the US, with European diplomats as intermediaries, begin on Monday, November 29, in Vienna.

Talks are aimed at reviving the nuclear accord.

Iran is making plans to once again access world oil markets (if it is successful in having sanctions removed). Comments from managing director of the National Iranian Oil Co., Mohsen Khojastehmehr, were made to the state-run Islamic Republic News Agency:
  • "Plans are in place to increase oil output to more than 5 million barrels a day" 
Comes via Bloomberg (may be gated). 

Stay tuned next week for how talks are progressing. 

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Sat 27 Nov 2021 20:24:03 GMT

PBOC official says the Bank will maintain ample liquidity in order to support jobs

Remarks from a People's Bank of China official indicating the country's central bank will be keeping the taps open: --- report citing Sina.com with the remarks from Wang Xin, director-general of the research bureau at the People's Bank of China. Speaking at the Caijing Annual Conference this week. More at that link (Bloomberg may be gated)   These sorts of comments tend to increase borrowing and leverage, the PBOC is loosening up this at present to keep liquidity available to support China's economic recovery.

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PBOC official says the Bank will maintain ample liquidity in order to support jobs


https://az705044.vo.msecnd.net/20181014/yi-gang-pboc.png Eamonn Sheridan
Sat 27 Nov 2021 20:24:03 GMT
Category: Central Banks
0


Remarks from a People's Bank of China official indicating the country's central bank will be keeping the taps open: --- report citing Sina.com with the remarks from Wang Xin, director-general of the research bureau at the People's Bank of China. Speaking at the Caijing Annual Conference this week. More at that link (Bloomberg may be gated)   These sorts of comments tend to increase borrowing and leverage, the PBOC is loosening up this at present to keep liquidity available to support China's economic recovery.

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Fri 26 Nov 2021 20:25:10 GMT

1

Forexlive Nth American FX News 26 Nov - Omicron fears hit stock bulls alpha

Risk off reigns Black Friday sale hits the markets. Did you grab a bargain? Europe's Stoxx 600 sees worse day sine June 2020Dow saw the biggest one day drop since Oct 28, 2020Nasdaq closes with biggest one day drop since Sep 28

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Forexlive Nth American FX News 26 Nov - Omicron fears hit stock bulls alpha


//az705044.vo.msecnd.net/20211126/tamanna-rumee-miqyypsnq3o-unsplash.jpg Giles Coghlan
Fri 26 Nov 2021 20:25:10 GMT
Category: News
1
Risk off reigns Black Friday sale hits the markets. Did you grab a bargain? Europe's Stoxx 600 sees worse day sine June 2020Dow saw the biggest one day drop since Oct 28, 2020Nasdaq closes with biggest one day drop since Sep 28

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Fri 26 Nov 2021 20:05:21 GMT

12

WHO names new COVID variant 'omicron'

It's a greek letter  So the rumour was it was going to be called Nu (another greek letter that looks like this 'v') . The next letter after Nu would be Xi. It looks weird, and I don't know the unicode for the keyboard, but here is a picture of it. The left hand letter circled is the capital, the right side the lower case. 

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WHO names new COVID variant 'omicron'


//az705044.vo.msecnd.net/20211126/screenshot-2021-11-26-at-20.02.12.png Giles Coghlan
Fri 26 Nov 2021 20:05:21 GMT
Category: News
12
It's a greek letter  So the rumour was it was going to be called Nu (another greek letter that looks like this 'v') . The next letter after Nu would be Xi. It looks weird, and I don't know the unicode for the keyboard, but here is a picture of it. The left hand letter circled is the capital, the right side the lower case. 

Asset 24 View More
Fri 26 Nov 2021 19:34:38 GMT

USDJPY putting in strong reversal on weekly chart

Yields falling and quicker rate hike expectations on virus fears. The weekly chart is showing a strong rejection of 115.00 and, if the close is right, a bearish engulfing bar taking in over a month of price. Technically this opens up a re-test of 112 for next week. 

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USDJPY putting in strong reversal on weekly chart


//az705044.vo.msecnd.net/20211126/0-screenshot-2021-11-26-at-19.27.24.png Giles Coghlan
Fri 26 Nov 2021 19:34:38 GMT
Category: News
0
Yields falling and quicker rate hike expectations on virus fears. The weekly chart is showing a strong rejection of 115.00 and, if the close is right, a bearish engulfing bar taking in over a month of price. Technically this opens up a re-test of 112 for next week. 

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Fri 26 Nov 2021 19:04:36 GMT

1

US to impose travel restrictions on 8 SA countries due to new variant

Limiting movement The more restrictions of movement that build the worse this will be for risk and oil prices. The US now joining Canada in limiting border access.

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US to impose travel restrictions on 8 SA countries due to new variant


Giles Coghlan
Fri 26 Nov 2021 19:04:36 GMT
Category: News
1
Limiting movement The more restrictions of movement that build the worse this will be for risk and oil prices. The US now joining Canada in limiting border access.

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Fri 26 Nov 2021 19:00:55 GMT

3

Book review: Thinking, Fast and Slow by D.Kahneman

What's your thinking like?  Are you a robust statistical thinker? Have you ever studied statistics and probabilities? Do you rely solely on gut feel and intuition? 

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Book review: Thinking, Fast and Slow by D.Kahneman


//az705044.vo.msecnd.net/20211122/screenshot-2021-11-22-at-09.24.37.png Giles Coghlan
Fri 26 Nov 2021 19:00:55 GMT
Category: News
3
What's your thinking like?  Are you a robust statistical thinker? Have you ever studied statistics and probabilities? Do you rely solely on gut feel and intuition? 

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Fri 26 Nov 2021 18:41:03 GMT

Canada closing borders to passengers from South Africa

An abundance of caution Canada the latest country trying to shut borders from the SA variant. If the delta is anything to go by, then it is hard to contain a variant. 

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Canada closing borders to passengers from South Africa


Giles Coghlan
Fri 26 Nov 2021 18:41:03 GMT
Category: News
0
An abundance of caution Canada the latest country trying to shut borders from the SA variant. If the delta is anything to go by, then it is hard to contain a variant. 

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Fri 26 Nov 2021 18:24:54 GMT

6

Novavax onto tackling the variant

Another vaccine manufacturer on the case JnJ, AstraZeneca already on the case. Now Novavax joins the fight. 

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Novavax onto tackling the variant


Giles Coghlan
Fri 26 Nov 2021 18:24:54 GMT
Category: News
6
Another vaccine manufacturer on the case JnJ, AstraZeneca already on the case. Now Novavax joins the fight. 

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Fri 26 Nov 2021 18:01:41 GMT

4

WHO raises preliminary study issue which may hit risk into close

Some comments breaking  But the main issues remains - is the vaccine effective against it? 

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WHO raises preliminary study issue which may hit risk into close


Giles Coghlan
Fri 26 Nov 2021 18:01:41 GMT
Category: News
4
Some comments breaking  But the main issues remains - is the vaccine effective against it? 

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Fri 26 Nov 2021 17:55:31 GMT

WHO designates B.1.1.529 as a variant of concern , names it Omicron

As expected No surprise here. There was talk the variant would be named 'Nu' but this is less confusing.

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WHO designates B.1.1.529 as a variant of concern , names it Omicron


Giles Coghlan
Fri 26 Nov 2021 17:55:31 GMT
Category: News
0
As expected No surprise here. There was talk the variant would be named 'Nu' but this is less confusing.

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Fri 26 Nov 2021 17:48:08 GMT

World Health Organisation due to release press statement within next hour

WHO press release due, according to top SA scientist de Oliveira Talk about a panicking market! Risk off selling has stalled for now as markets take some comfort from some recent headlines over vaccine work and anecdotal evidence suggesting new variant is not necessarily a big threat. Still too many unknowns to blow either way on this, but we already expect the WHO to recognise the variant as 'one of concern'.

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World Health Organisation due to release press statement within next hour


Giles Coghlan
Fri 26 Nov 2021 17:48:08 GMT
Category: News
0
WHO press release due, according to top SA scientist de Oliveira Talk about a panicking market! Risk off selling has stalled for now as markets take some comfort from some recent headlines over vaccine work and anecdotal evidence suggesting new variant is not necessarily a big threat. Still too many unknowns to blow either way on this, but we already expect the WHO to recognise the variant as 'one of concern'.

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Fri 26 Nov 2021 17:39:00 GMT

AstraZeneca conducting research in locations where variant has been located


Giles Coghlan
Fri 26 Nov 2021 17:39:00 GMT
Category: News
0
Well if J& J can do it, so can AZ

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Fri 26 Nov 2021 17:20:47 GMT

3

Review: Truth and Li(e)bor. S. Contogoulas

As slippy as an eel  Ok folks, anything big breaks I am here. However, check out this book review on a little book I recently read on the Libor scandal out of the UK. Here was my take on it. 

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Review: Truth and Li(e)bor. S. Contogoulas


//az705044.vo.msecnd.net/20211122/screenshot-2021-11-22-at-10.03.22.png Giles Coghlan
Fri 26 Nov 2021 17:20:47 GMT
Category: News
3
As slippy as an eel  Ok folks, anything big breaks I am here. However, check out this book review on a little book I recently read on the Libor scandal out of the UK. Here was my take on it. 

Asset 24 View More
Fri 26 Nov 2021 17:02:54 GMT

1

Johnson & Johnson: Testing against new SA variant has already begun

This is good .  It means we should find out pretty quickly what the true risk is of this new variant This whole saga could disappear as quickly as it has come if the vaccine is found to be effective against the variant.

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Johnson & Johnson: Testing against new SA variant has already begun


Giles Coghlan
Fri 26 Nov 2021 17:02:54 GMT
Category: News
1
This is good .  It means we should find out pretty quickly what the true risk is of this new variant This whole saga could disappear as quickly as it has come if the vaccine is found to be effective against the variant.

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Fri 26 Nov 2021 16:52:52 GMT

1

SA Health Department: WHO to designate SA variant as 'of concern'

Designation from WHO looks to be in  Equity futures making fresh lows on this headline, but this is not a major surprise. Of more interest is going to be the impact it is actually having in SA.

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SA Health Department: WHO to designate SA variant as 'of concern'


//az705044.vo.msecnd.net/20211126/screenshot-2021-11-26-at-16.57.45.png Giles Coghlan
Fri 26 Nov 2021 16:52:52 GMT
Category: News
1
Designation from WHO looks to be in  Equity futures making fresh lows on this headline, but this is not a major surprise. Of more interest is going to be the impact it is actually having in SA.

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Fri 26 Nov 2021 16:42:57 GMT

7

South African scientist Sanne on vaccine efficacy on variant

This sounds promising  This is good.  Remember that it is going to be hospitals and deaths that markets are most concerned about - not merely transmission. Does the vaccine still work, that's what everyone wants to know

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South African scientist Sanne on vaccine efficacy on variant


Giles Coghlan
Fri 26 Nov 2021 16:42:57 GMT
Category: News
7
This sounds promising  This is good.  Remember that it is going to be hospitals and deaths that markets are most concerned about - not merely transmission. Does the vaccine still work, that's what everyone wants to know

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Fri 26 Nov 2021 16:36:07 GMT

European markets close heavily down on variant fears

ouch  Tough landing for European markets which were already facing headwinds from rising COVID cases Europe's Stoxx 600 sees worse day sine June 2020

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European markets close heavily down on variant fears


Giles Coghlan
Fri 26 Nov 2021 16:36:07 GMT
Category: News
0
ouch  Tough landing for European markets which were already facing headwinds from rising COVID cases Europe's Stoxx 600 sees worse day sine June 2020

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Fri 26 Nov 2021 16:18:23 GMT

4

South Africa Health Minister says reaction to COVID variant is unjustified

Storm in a teacup? However, if the virus is more transmissible then the concern is justified to some extent. This will not reassure thin jumpy markets.

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South Africa Health Minister says reaction to COVID variant is unjustified


Giles Coghlan
Fri 26 Nov 2021 16:18:23 GMT
Category: News
4
Storm in a teacup? However, if the virus is more transmissible then the concern is justified to some extent. This will not reassure thin jumpy markets.

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Fri 26 Nov 2021 16:00:24 GMT

Canada September Budget Balance C$11.41 vs C-9.83 bln prior

Statistics Canada  Budget, year to date (April - September): C$-68.57B vs -57.15bln prior. The budget deficit is nothing new and weak oil is dragging the CAD down today.

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Canada September Budget Balance C$11.41 vs C-9.83 bln prior


//az705044.vo.msecnd.net/20211126/screenshot-2021-11-26-at-16.02.12.png Giles Coghlan
Fri 26 Nov 2021 16:00:24 GMT
Category: News
0
Statistics Canada  Budget, year to date (April - September): C$-68.57B vs -57.15bln prior. The budget deficit is nothing new and weak oil is dragging the CAD down today.

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Fri 26 Nov 2021 15:37:03 GMT

11

Why is the USD weak today (sometimes it is strong on risk off flows)

Just smile Remember the USD smile theory? Well sometimes the USD has different drivers at different times. .  See here for one article I have written on this

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Why is the USD weak today (sometimes it is strong on risk off flows)


//az705044.vo.msecnd.net/20211126/jason-leung-60j0ub-z_yk-unsplash.jpg Giles Coghlan
Fri 26 Nov 2021 15:37:03 GMT
Category: News
11
Just smile Remember the USD smile theory? Well sometimes the USD has different drivers at different times. .  See here for one article I have written on this

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Fri 26 Nov 2021 15:15:37 GMT

6

UK National Virology Consortium on new variant mutations

Mutation news This has not halted the steady risk off tones which are now continuing. Pretty unclear what it means to those outside of the National Virology Consortium. Expect scientists to be going through this with a fine tooth comb over the weekend.  Oil at fresh lows, Dow at fresh lows, VIX pushing higher. 

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UK National Virology Consortium on new variant mutations


Giles Coghlan
Fri 26 Nov 2021 15:15:37 GMT
Category: News
6
Mutation news This has not halted the steady risk off tones which are now continuing. Pretty unclear what it means to those outside of the National Virology Consortium. Expect scientists to be going through this with a fine tooth comb over the weekend.  Oil at fresh lows, Dow at fresh lows, VIX pushing higher. 

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Fri 26 Nov 2021 14:53:15 GMT

14

US oil makes fresh lows on EU agency headline

Down over 7% on the day If the world goes back into lockdowns then oil demand will tank sharply lower. y hits risk and sends US oil down through daily lows. Price is at daily support around 72.50.  Next key support sits below this at 67.00

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US oil makes fresh lows on EU agency headline


Giles Coghlan
Fri 26 Nov 2021 14:53:15 GMT
Category: News
14
Down over 7% on the day If the world goes back into lockdowns then oil demand will tank sharply lower. y hits risk and sends US oil down through daily lows. Price is at daily support around 72.50.  Next key support sits below this at 67.00

Asset 24 View More
Fri 26 Nov 2021 14:45:32 GMT

6

EU Agency names new COVID strain a 'variant of concern'

Risk hit a little more Equity markets pushing back towards daily lows on this headline. WHO is still meeting and set to give their verdict at some point today. Expect it to move the risk needle again when the WHO comment breaks

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EU Agency names new COVID strain a 'variant of concern'


//az705044.vo.msecnd.net/20211126/screenshot-2021-11-26-at-14.44.19.png Giles Coghlan
Fri 26 Nov 2021 14:45:32 GMT
Category: News
6
Risk hit a little more Equity markets pushing back towards daily lows on this headline. WHO is still meeting and set to give their verdict at some point today. Expect it to move the risk needle again when the WHO comment breaks

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