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Author: Justin Low

Latest data released by Markit - 23 April 2021

  • Prior 48.2
  • Manufacturing PMI 59.2 vs 59.0 expected
  • Prior 59.3
  • Composite PMI 51.7 vs 49.4 expected
  • Prior 50.0
The headline reading comes in at a eight-month high as business activity returned to growth for the first time since August last year. This is a welcome beat for the French economy amid continued worries surrounding the virus situation and tighter restrictions.

That said, the expansion in the services sector was marginal if anything else.

But at least the good news is that demand conditions are seen improving with new business climbing for a second month running and at its quickest pace since July 2020.

Markit notes that:

"Latest PMI data pointed to the first increase in private sector activity since the end of the initial COVID-19 rebound last summer. The result was a continuation of the improved trend seen in recent months, but previously growth had remained elusive due to an ongoing decline in the service sector. However, with an expansion in services activity and another strong rise in manufacturing production during April, the French private sector finally managed to achieve growth.

"Furthermore, with positive signs on the demand front and capacity pressures intensifying in both subsectors, the short-term outlook is continuing to strengthen for French businesses. Beyond the next few months, panel members are also confident of further upward momentum in demand and that was reflected by the strongest expectations towards the 12-month business outlook for over three years."

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Fri 23 Apr 2021 07:06:30 GMT

European equities lower at the open today

Slightly softer tones among European indices to start the session - Eurostoxx -0.2% - Germany DAX -0.3% - France CAC 40 -0.1% - UK FTSE -0.4% - Spain IBEX -0.3% To some degree, the slightly lower nudge owes to some catch up after European indices closed higher yesterday and all before the Biden capital gains tax debacle hit US equities late in the session - some three hours after the initial headline.

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European equities lower at the open today


Justin Low
Fri 23 Apr 2021 07:06:30 GMT
Author: Justin Low
Category: News
0


Slightly softer tones among European indices to start the session - Eurostoxx -0.2% - Germany DAX -0.3% - France CAC 40 -0.1% - UK FTSE -0.4% - Spain IBEX -0.3% To some degree, the slightly lower nudge owes to some catch up after European indices closed higher yesterday and all before the Biden capital gains tax debacle hit US equities late in the session - some three hours after the initial headline.

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Fri 23 Apr 2021 06:50:39 GMT

Australia: Perth to enter three-day lockdown starting from midnight

Western Australia premier, Mark McGowan, makes the announcement This comes after two persons caught the virus (UK variant) while in Perth hotel quarantine, from a couple staying in an opposite room. The couple in question had arrived in Perth from India and were infected with the UK variant of the virus.

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Australia: Perth to enter three-day lockdown starting from midnight


Justin Low
Fri 23 Apr 2021 06:50:39 GMT
Author: Justin Low
Category: News
0
Western Australia premier, Mark McGowan, makes the announcement This comes after two persons caught the virus (UK variant) while in Perth hotel quarantine, from a couple staying in an opposite room. The couple in question had arrived in Perth from India and were infected with the UK variant of the virus.

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Fri 23 Apr 2021 06:24:28 GMT

US futures pare slight advance to start the session

S&P 500 futures turn flat The knee-jerk reaction continues to reverberate, as the market continues to move with a sense of trepidation. US equities closed down by 0.9% yesterday and futures are looking more tepid after a slightly more optimistic start earlier in the day.

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US futures pare slight advance to start the session


Justin Low
Fri 23 Apr 2021 06:24:28 GMT
Author: Justin Low
Category: News
0
S&P 500 futures turn flat The knee-jerk reaction continues to reverberate, as the market continues to move with a sense of trepidation. US equities closed down by 0.9% yesterday and futures are looking more tepid after a slightly more optimistic start earlier in the day.

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Fri 23 Apr 2021 06:13:51 GMT

Eurostoxx futures -0.3% in early European trading

A bit of catch up to the US cash market in early trades European indices closed with solid gains yesterday, all before the panic struck US equities after a second airing on Biden's capital gains tax story flashed across Bloomberg terminals.

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Eurostoxx futures -0.3% in early European trading


Justin Low
Fri 23 Apr 2021 06:13:51 GMT
Author: Justin Low
Category: News
0
A bit of catch up to the US cash market in early trades European indices closed with solid gains yesterday, all before the panic struck US equities after a second airing on Biden's capital gains tax story flashed across Bloomberg terminals.

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Fri 23 Apr 2021 06:10:46 GMT

Nikkei 225 closes lower by 0.57% at 29,020.63

A mixed tone in Asia today The Topix also closes lower by 0.4% with both indices staving off a test of its 100-day moving average this week, helped by on Wednesday.

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Nikkei 225 closes lower by 0.57% at 29,020.63


Justin Low
Fri 23 Apr 2021 06:10:46 GMT
Author: Justin Low
Category: News
0
A mixed tone in Asia today The Topix also closes lower by 0.4% with both indices staving off a test of its 100-day moving average this week, helped by on Wednesday.

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Fri 23 Apr 2021 06:00:17 GMT

UK March retail sales +5.4% vs +1.5% m/m expected

Latest data released by ONS - 23 April 2021 Of note, the the clothing sector also saw a jump of 17.5% increase in sales volumes. That said, they remain 41.5% below the level seen in February last year - before the pandemic - just to put things into perspective.

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UK March retail sales +5.4% vs +1.5% m/m expected


//az705044.vo.msecnd.net/20210423/23-4-2021-2-06-20-pm.png Justin Low
Fri 23 Apr 2021 06:00:17 GMT
Author: Justin Low
Category: News
0
Latest data released by ONS - 23 April 2021 Of note, the the clothing sector also saw a jump of 17.5% increase in sales volumes. That said, they remain 41.5% below the level seen in February last year - before the pandemic - just to put things into perspective.

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Fri 23 Apr 2021 05:36:05 GMT

Trade ideas thread - European session 23 April 2021

Daily thread to exchange ideas and to share your thoughts There were little positive cues for equities in general as investors seek a breather and the story yesterday provided a reason (a very good one in fact) to take money off the table.

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Trade ideas thread - European session 23 April 2021


Justin Low
Fri 23 Apr 2021 05:36:05 GMT
Author: Justin Low
Category: News
0
Daily thread to exchange ideas and to share your thoughts There were little positive cues for equities in general as investors seek a breather and the story yesterday provided a reason (a very good one in fact) to take money off the table.

Asset 24 View More
Fri 23 Apr 2021 05:18:26 GMT

Japan's Hokkaido prefecture reportedly mulls request for state of emergency measures

Mainichi Shimbun reports on the matter This will add to the state of emergency measures set to be announced for Tokyo, Osaka, Kyoto, and Hyogo, which will run from 25 April to 11 May. The formal announcement on that should be made by Japanese PM Suga later in the day.

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Japan's Hokkaido prefecture reportedly mulls request for state of emergency measures


Justin Low
Fri 23 Apr 2021 05:18:26 GMT
Author: Justin Low
Category: News
0
Mainichi Shimbun reports on the matter This will add to the state of emergency measures set to be announced for Tokyo, Osaka, Kyoto, and Hyogo, which will run from 25 April to 11 May. The formal announcement on that should be made by Japanese PM Suga later in the day.

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Fri 23 Apr 2021 05:12:32 GMT

FX option expiries for 23 April 10am New York cut

A look at what is on the board for today A couple of large ones to take note of today for USD/CAD, as highlighted in . bold That may keep price action sticky in between 1.2440-50 to 1.2500 with key daily support still seen around 1.2476-00 at the moment, so that will be a tricky area to navigate for the pair as sellers look to keep the downside momentum going post-BOC.

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FX option expiries for 23 April 10am New York cut


//az705044.vo.msecnd.net/20210423/23-4-2021-1-08-45-pm.png Justin Low
Fri 23 Apr 2021 05:12:32 GMT
Author: Justin Low
Category: Forex Orders
0
A look at what is on the board for today A couple of large ones to take note of today for USD/CAD, as highlighted in . bold That may keep price action sticky in between 1.2440-50 to 1.2500 with key daily support still seen around 1.2476-00 at the moment, so that will be a tricky area to navigate for the pair as sellers look to keep the downside momentum going post-BOC.

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Fri 23 Apr 2021 04:53:37 GMT

Economic data coming up in the European session

Euro area PMI data for April on the agenda today Biden's capital gains tax story ended up stealing the spotlight in trading yesterday, hurting US stocks albeit with a delayed effect - took all of nearly 3 hours.

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Economic data coming up in the European session


//az705044.vo.msecnd.net/20210423/23-4-2021-12-52-57-pm.png Justin Low
Fri 23 Apr 2021 04:53:37 GMT
Author: Justin Low
Category: News
0
Euro area PMI data for April on the agenda today Biden's capital gains tax story ended up stealing the spotlight in trading yesterday, hurting US stocks albeit with a delayed effect - took all of nearly 3 hours.

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Fri 23 Apr 2021 04:31:25 GMT

Bitcoin snaps the uptrend momentum in fall below $50,000, what is the chart saying?

Bitcoin falls below $50,000 for the first time since early March is the key headline doing the rounds but in the crypto space, there's a lot of rumours floating about Yellen proposing a 80% capital gains tax on cryptocurrencies in particular.

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Bitcoin snaps the uptrend momentum in fall below $50,000, what is the chart saying?


//az705044.vo.msecnd.net/20210423/23-4-2021-12-16-08-pm.png Justin Low
Fri 23 Apr 2021 04:31:25 GMT
Author: Justin Low
Category: Cryptocurrency
0
Bitcoin falls below $50,000 for the first time since early March is the key headline doing the rounds but in the crypto space, there's a lot of rumours floating about Yellen proposing a 80% capital gains tax on cryptocurrencies in particular.

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Fri 23 Apr 2021 04:09:19 GMT

Germany reports 27,543 new coronavirus cases, 265 deaths in latest update today

Total active cases across the country nears 300,000 The 7-day incidence rate keeps on the high side at 164.0, suggesting that the spread of infections is still rather rampant. Total active cases climbs to ~299,100 - the highest since 18 January, so there is little comfort for now.

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Germany reports 27,543 new coronavirus cases, 265 deaths in latest update today


//az705044.vo.msecnd.net/20210423/23-4-2021-12-08-06-pm.png Justin Low
Fri 23 Apr 2021 04:09:19 GMT
Author: Justin Low
Category: News
0
Total active cases across the country nears 300,000 The 7-day incidence rate keeps on the high side at 164.0, suggesting that the spread of infections is still rather rampant. Total active cases climbs to ~299,100 - the highest since 18 January, so there is little comfort for now.

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Fri 23 Apr 2021 03:50:35 GMT

China's FX regulator says yuan assets displaying safe haven characteristics

Comments from a spokesperson from China's State Administration of Foreign Exchange (SAFE)  These are pretty straightforward comments and fit inline with the rising yuan we have seen in recent weeks, snd indeed since May of 2020. 

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China's FX regulator says yuan assets displaying safe haven characteristics


https://az705044.vo.msecnd.net/20210423/yuan-trend-23-april-2021.png Eamonn Sheridan
Fri 23 Apr 2021 03:50:35 GMT
Category: News
0
Comments from a spokesperson from China's State Administration of Foreign Exchange (SAFE)  These are pretty straightforward comments and fit inline with the rising yuan we have seen in recent weeks, snd indeed since May of 2020. 

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Fri 23 Apr 2021 03:28:02 GMT

Japan PM's Suga's plan to boost the minimum wage is facing strong push-back

Japanese Prime Minister Suga said in March his government aims to bring Japan's minimum wage higher Suga believes the wage hike would help support coronavirus-hit households, boost competitiveness, and spur inflation

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Japan PM's Suga's plan to boost the minimum wage is facing strong push-back


Eamonn Sheridan
Fri 23 Apr 2021 03:28:02 GMT
Category: News
0
Japanese Prime Minister Suga said in March his government aims to bring Japan's minimum wage higher Suga believes the wage hike would help support coronavirus-hit households, boost competitiveness, and spur inflation

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Fri 23 Apr 2021 03:04:56 GMT

BOJ Gov Kuroda says too early discuss timing, means of exit from ultra-easy policy

Kuroda saying the same things he always says, speaking in parliament. Kuroda will be long retired by then. 

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BOJ Gov Kuroda says too early discuss timing, means of exit from ultra-easy policy


Eamonn Sheridan
Fri 23 Apr 2021 03:04:56 GMT
Category: Central Banks
0
Kuroda saying the same things he always says, speaking in parliament. Kuroda will be long retired by then. 

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Fri 23 Apr 2021 03:04:49 GMT

New Zealand data - March credit card spending up 3.1% m/m (prior -1.9%)

And for the y/y, +2.2% (prior -12.4%)

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New Zealand data - March credit card spending up 3.1% m/m (prior -1.9%)


Eamonn Sheridan
Fri 23 Apr 2021 03:04:49 GMT
Category: News
0
And for the y/y, +2.2% (prior -12.4%)

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Fri 23 Apr 2021 02:53:35 GMT

ForexLive Asia FX news wrap: BTC dips under $49k

Forex news for Asia trading for Friday 23 April 2021 Crypto was the mover here in Asia today, with BTC (finally) extending the fall it has last weekend to under USD50K during the session. If an item is needed to explain the drop it might be the persistent rumours of US tax action to be levied on the coin. The best I can see is these are still just rumours, but they will not go away. Maybe these are just an excuse though. DOGE was hit, its been a 'go-to' crypto for weeks now and it fell hard today.

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ForexLive Asia FX news wrap: BTC dips under $49k


https://az705044.vo.msecnd.net/20210423/doge-wrap-23-april-2021.png Eamonn Sheridan
Fri 23 Apr 2021 02:53:35 GMT
Category: News
0
Forex news for Asia trading for Friday 23 April 2021 Crypto was the mover here in Asia today, with BTC (finally) extending the fall it has last weekend to under USD50K during the session. If an item is needed to explain the drop it might be the persistent rumours of US tax action to be levied on the coin. The best I can see is these are still just rumours, but they will not go away. Maybe these are just an excuse though. DOGE was hit, its been a 'go-to' crypto for weeks now and it fell hard today.

Asset 24 View More
Fri 23 Apr 2021 02:29:21 GMT

Bitcoin is on the slide again -lows have been under $49K. DOGE getting hit hard also

The plunge in BTC last weekend set the tone for the week, its following through lower today DOGE is dropping also (has been flavour of the month) 

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Bitcoin is on the slide again -lows have been under $49K. DOGE getting hit hard also


https://az705044.vo.msecnd.net/20210423/doge-23-april-2021.png Eamonn Sheridan
Fri 23 Apr 2021 02:29:21 GMT
Category: Cryptocurrency
0
The plunge in BTC last weekend set the tone for the week, its following through lower today DOGE is dropping also (has been flavour of the month) 

Asset 24 View More
Fri 23 Apr 2021 02:00:25 GMT

Bitcoin continues a volatile session, drops under $50K, jumps quickly back above $51K

A BTC update - the crypto has had a hard time sustaining any gain since last weekend when it dropped sharply. Falls continue but as I update its bounced back a little:

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Bitcoin continues a volatile session, drops under $50K, jumps quickly back above $51K


https://az705044.vo.msecnd.net/20210423/btc-23-april-2021-33.png Eamonn Sheridan
Fri 23 Apr 2021 02:00:25 GMT
Category: Cryptocurrency
0
A BTC update - the crypto has had a hard time sustaining any gain since last weekend when it dropped sharply. Falls continue but as I update its bounced back a little:

Asset 24 View More
Fri 23 Apr 2021 01:52:09 GMT

China's Global Times tweets UK is lying, violating international law, interfering with China

Here is the tweet from the GT, referring to UK comments on Uygur genocide:  On the bright side, it gives us a break from the usual GT histrionics attacking Australia.

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China's Global Times tweets UK is lying, violating international law, interfering with China


https://az705044.vo.msecnd.net/20210423/china-gt-tweet.png Eamonn Sheridan
Fri 23 Apr 2021 01:52:09 GMT
Category: News
0
Here is the tweet from the GT, referring to UK comments on Uygur genocide:  On the bright side, it gives us a break from the usual GT histrionics attacking Australia.

Asset 24 View More
Fri 23 Apr 2021 01:37:49 GMT

Nasdaq is launching options on the Nasdaq-100 Micro Index

The Nasdaq-100 Micro Index was launched only back in January The new options contracts will be available for monthly expiration

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Nasdaq is launching options on the Nasdaq-100 Micro Index


Eamonn Sheridan
Fri 23 Apr 2021 01:37:49 GMT
Category: News
0
The Nasdaq-100 Micro Index was launched only back in January The new options contracts will be available for monthly expiration

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Fri 23 Apr 2021 01:15:29 GMT

PBOC sets USD/ CNY central rate at 6.4934 (vs. yesterday at 6.4902)

The People's Bank of China sets the onshore yuan (CNY) reference rate for the trading session ahead.    - USD/CNY is permitted to trade plus or minus 2% from this daily reference rate.

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PBOC sets USD/ CNY central rate at 6.4934 (vs. yesterday at 6.4902)


Eamonn Sheridan
Fri 23 Apr 2021 01:15:29 GMT
Category: Central Banks
0
The People's Bank of China sets the onshore yuan (CNY) reference rate for the trading session ahead.    - USD/CNY is permitted to trade plus or minus 2% from this daily reference rate.

Asset 24 View More
Fri 23 Apr 2021 01:14:05 GMT

US Bombers Might Have to Go Back on Nuclear Alert

An interesting read (not forex) on remarks from the head of the U.S. Strategic Command   if interested Here is the link for the full story

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US Bombers Might Have to Go Back on Nuclear Alert


https://az705044.vo.msecnd.net/20210423/plane-bomber.png Eamonn Sheridan
Fri 23 Apr 2021 01:14:05 GMT
Category: News
0
An interesting read (not forex) on remarks from the head of the U.S. Strategic Command   if interested Here is the link for the full story

Asset 24 View More
Fri 23 Apr 2021 00:51:56 GMT

Japan new coronavirus restrictions incoming - PM Suga press conference Friday evening

Japanese Prime Minister Suga will hold a news conference at 8pm local time  - which is 1100GMT This will be where we'll get confirmation of the new state of emergency declaration incoming for:

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Japan new coronavirus restrictions incoming - PM Suga press conference Friday evening


Eamonn Sheridan
Fri 23 Apr 2021 00:51:56 GMT
Category: News
0
Japanese Prime Minister Suga will hold a news conference at 8pm local time  - which is 1100GMT This will be where we'll get confirmation of the new state of emergency declaration incoming for:

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