Forexlive Latest News
Sun 29 Nov 2020 23:04:22 GMT
US equity index futures begin Sunday evening trade higher. Oil is lower.
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S&P500 emini trade on Globex has begun for the new week.
OIl has gapped a touch lower, OPEC+ news over the weekend, more to pl;ay out on this on Monday:
Its just after 8am in Tokyo, in early Asian Monday the US dollar is tiny bit weaker again.
Sun 29 Nov 2020 22:43:05 GMT
A Guggenheim fund may invest up to 10% of assets in bitcoin
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Via Bloomberg comes this piece on the Guggenheim Macro Opportunities Fund:
Bloomberg citing a filing Friday to the US Securities and Exchange Commission.
Sun 29 Nov 2020 22:29:59 GMT
UK's Raab sound bullish on a Brexit trade deal over the weekend
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U.K. Foreign Secretary Dominic Raab spoke on Sunday, said
the big issue to resolve in the trade deal talks with the EU is fishing rights.
Bolding is mine.
Sun 29 Nov 2020 22:00:11 GMT
First coronavirus vaccine is on track for international deployment in December
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The FT with an update, saying UK approval for a vaccine could be as early as this week:
US approval could be granted shortly after a Food and Drug Administration advisory meeting on December 10.
or more (may be gated)
Sun 29 Nov 2020 21:49:43 GMT
Trade ideas thread - Monday 30 November 2020
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Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so:
Sun 29 Nov 2020 21:23:57 GMT
Goldman Sachs expect widespread DM vaccinations by the middle of 2021, will drive a sharp pick up in global growth
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Goldman Sachs economists if forecasting large numbers of people in developed countries will be vaccinated by the middle of next year, 70% by the (northern fall 2021).
Sun 29 Nov 2020 20:56:39 GMT
OPEC+ ministerial meeting has finished, no agreement yet on delaying oil output hike
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There was no agreement reached on whether to delay the oil production output hike in January.
The chatter is many participants supported delaying the hike, but not all, hence no agreement. The current plan is to increase output by 1.9m barrels a day in January (if no delay is agreed to).
Sun 29 Nov 2020 20:47:16 GMT
Economic calendar due from Asia today - Monday 30 Nov. 2020
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China PMIs due today
2350 GMT Japan Industrial
Production for October (preliminary)
2350 GMT Japan Retail sales
for October
0000 GMT Australia -
Melbourne Institute monthly CPI inflation for November
0000 GMT New Zealand ANZ
business survey for November, final
Sun 29 Nov 2020 20:32:24 GMT
Monday morning open levels - indicative forex prices - 30 November 2020
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Good morning, afternoon or evening to all ForexLive traders and welcome to the start of the new FX week!
- EUR/USD 1.1961
- USD/JPY 104.08
- GBP/USD 1.3330 ... some better Brexit press over the weekend is supportive so far
Sat 28 Nov 2020 22:26:49 GMT
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UK poised to become the first western country to approve a Covid-19 vaccine
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So report the Financial Times, saying the drug regulator in the country is . (FT may be gated.)
The UK’s Medicines and Healthcare Products Regulatory Agency has the power to temporarily authorise products, in cases of urgent public need, thus bypassing the normal approval required from the European Medicines Agency (what this means is that while the UK is bound by the European agency until the end of the Brexit transition on December 31 the country still has the power to approve apart from the EU approval, with our without Brexit).
Sat 28 Nov 2020 22:26:34 GMT
UK Times says EU Commission President expected to speak with UK PM 'within hours' ( ... but there's a but)
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The UK Times reports over the weekend that the Commission has begun to "lean on" EU negotiator Michel Barnier to get a trade deal with the UK.
The but? Reuters cite an unnamed British source saying there is no call currently scheduled.
Sat 28 Nov 2020 22:26:18 GMT
Boe Chief Economist Haldane highlights 2 factors that could send inflation higher than expected
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Bank of England Chief Economist Andy Haldane has made weekend comments on COVID-19 vaccines, policy stimulus, and central bank independence.
On inflation, he said it could rise by more than anticipated in the medium term due to:
Sat 28 Nov 2020 08:56:59 GMT
Central Bank Watch December 2020: Part 2
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Central Bank Watch December 2020: Part 2
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Central Bank Latest
Brexit, Covid-19, and a slowing economy all continuing to weigh on the GBP. The BoE kept interest rates unchanged at0.10%. The November meeting took place amid the US election drama so it was easy to overlook. The meeting took account all of the recent lockdown restrictions announced by the UK Gov't top to and including October 31 (The day the lockdown was announced). The Bank of England kept interest rates unchanged at 0.10%, but increased asset purchases more than expected to £875. Asset purchases were expanded by £150 bln vs the £100bln expected. However, the reaction out of the meeting was a rising pound despite the increase in asset purchases (normally GBP negative). Why? This was due to a luke warm sentence on negative rates. The Bank of England said that 'participants attach some weight to the possibility of a negative bank rate'. Investors had been hoping for a more enthusiastic move towards negative rates. . The deadline for hearing back was after the last meeting, so this makes sense why the BoE were pretty neutral. and this makes sense as their value is far from clear from other central banks that have used them.
Sat 28 Nov 2020 08:56:26 GMT
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Central Bank Watch: December 2020
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Central Bank Watch: December 2020
3
Central Bank Latest
The central banks are listed below with their current state of play. The link for each central bank is included under the title of the bank and the next scheduled meeting is in the title too. This is Part 1. Part 2 will follow immediately after.
Fri 27 Nov 2020 21:16:08 GMT
US employment and Fed's Powell highlight next weeks events and releases
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The highlighted events and economic releases for next week's trading:
The RBA rate decision, Fed's Powell testimony and the US employment report highlight the events and economic releases in the new trading week.
Fri 27 Nov 2020 20:44:22 GMT
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EU Barnier: We continue to work with patience and determination
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EU Barnier back from Covid
EU Barnier is on the wires saying he is very happy to be back in London to continue the work toward a Brexit deal. He addss:
Fri 27 Nov 2020 20:00:47 GMT
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Forexlive Americas FX news wrap: Dollar slumps in post-Turkey day hangover. Gold below $1800
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Forex news for North American trading on October 27, 2020
The dollar slumped marginally in post-Turkey day hangover trading. There was no economic data, but stocks did rise with both the S&P and Nasdaq index closing higher and a record levels (flow out of the safety of the greenback?). Hopes for Covid vaccines may also help risk on in non-US countries. It is hard to see how Thanksgiving will lower the trajectory in the US, however, which may be a dollar negative.
Fri 27 Nov 2020 18:44:41 GMT
US crude oil futures settle at $45.53
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US crude oil futures settle at $45.53
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Down $0.18 on the day
The high for the day reached $46.09. The low extended to $45.55.
Technically, the price found support buyers against the swing high from August at $44.59. That was the highest level going back to March. The level was broken on Tuesday and stayed above on Wednesday and again today.
Fri 27 Nov 2020 18:07:53 GMT
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NASDAQ/S&P close at record high levels
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NASDAQ/S&P close at record high levels
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Major indices close higher on shortened post Thanksgiving trading session
A look at the final numbers shows:
Fri 27 Nov 2020 17:58:33 GMT
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US Court of Appeals: Trump campaign claims have no merit
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Appeals process continues to not do well
The US federal appeals court rejects the Trump campaign motion for an injunction pending appeal in Pennsylvania case.
Fri 27 Nov 2020 17:54:23 GMT
USDJPY lower on the day. Below the 200 hour MA and trend line resistance.
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200 hour MA at 104.11
The USDJPY is lower on the day and trades below the 200 hour MA at 104.114.
Admittedly, the price has traded above and below that MA level. Early in the Asian session, the price fell below the moving average line and continue to the low for the day at 103.90.
Fri 27 Nov 2020 17:35:50 GMT
2
GBPUSD falls below its 200 hour moving average and swing level
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Corrective run higher, runs out of steam and tumbles back down
The GBPUSD has fallen back below it's 200 hour MA at 1.3311. The pair also fell below a swing area between 1.3309 and 1.33116. The pair moved down to test Tuesday's low at 1.32912.
Fri 27 Nov 2020 17:12:17 GMT
European shares close higher. Have gains for the week.
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UK FTSE recovers earlier declines.
The European shares are closing higher on the day. The UK FTSE is closing higher after trading sharply lower earlier in the day (-0.95%). It is closing up 0.07%.
Fri 27 Nov 2020 16:39:55 GMT
EURGBP moves back above 200 day MA
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EURGBP moves back above 200 day MA
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Flows into back into EUR today.
Drilling to the hourly chart below, the price moved above the 200 day MA (at 0.89547) and a topside channel trend line and swing high at 0.89626. Stay above each, keeps the buyers in firm control. Move back below each and the buyers start to relinquish control back to the sellers.
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Central Banks
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Boe Chief Economist Haldane highlights 2 factors that could send inflation higher than expected
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Central Bank Watch December 2020: Part 2
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Central Bank Watch: December 2020
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BOJ considers extending measures aimed at easing corporate funding strains beyond December - report
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