Forex News

Event calendar

21

Australia: CAPEX outlook increasingly positive – ANZ

It was an overall a positive CAPEX report of Australian economy for Q3 as investment increased for the third quarter in a row, and plant and equipment spending will support Q3 GDP, according to Daniel Gradwell, Senior Economist at ANZ.Key Quotes“The outlook for investment is increasingly good, led by the non-mining industries, and even the drag from the mining sector continues to ...

10:46 30 November /2017 Forex

Oil markets already fading the expected extension to OPEC cuts - ING Sandeep Kanihama

Analysts at ING note that there is a growing consensus that OPEC will extend their current output deal when they meet in Vienna today and believe it will run through to the end of 2018.Key Quotes“The meeting may just be noise for oil markets – and it seems the only scenario that would offer significant upside to prices would be if OPEC surprised the market by not only extending th...

10:46 30 November /2017 Forex

AUD/USD struggles to build on data-led recovery, still below 0.76 handle Haresh Menghani

   •  Aussie Capex data/Chinese PMIs provide some immediate respite.
   •  An uptick in US bond yields capping additional gains.
   •  US data and tax bill vote eyed for fresh impetus.The AUD/USD pair held on to the upbeat Chinese PMI-led modest recovery gains but struggled to gain any strong follow-through traction.Currently trading around...

10:46 30 November /2017 Forex

China’s fund managers boost their equity exposure for next 3 months – Reuters poll

Reuters polled the Chinese fund managers on their exposure to stocks and bonds for the next three months, with the key findings found below.Chinese fund managers boost their suggested equity exposure for next 3 months to an 8-month high of 79.4%.Chinese fund managers cut suggested bond exposure for next 3 months to 5.6%.Reduce suggested cash allocations for next 3 months to 15%.

10:23 30 November /2017 Forex

USD/JPY extends bullish momentum further beyond 112.00 handle Haresh Menghani

   •  Gains positive momentum for the third straight session.
   •  Risk-on mood denting JPY’s safe-haven appeal.
   •  US economic data and tax bill to provide fresh impetus.The greenback retained its strength against the Japanese Yen, now pushing the USD/JPY pair further beyond the 112.00 handle to fresh weekly tops.Against the backdrop o...

10:23 30 November /2017 Forex

Eurozone headline inflation to rise 1.6% y/y in November - TDS

Analysts at TDS are in line with consensus looking for euro area headline inflation to rise 1.6% y/y in November, while core rises a notch to 1.0% y/y.Key Quotes“Like in Germany, fuel prices remain an uncertainty in November’s data, after strong divergence between crude and petrol prices in recent months. Furthermore, the weakness seen in October’s services inflation was driven by...

10:01 30 November /2017 Forex

India: Expect a GDP reading in the low 6% area - TDS

Analysts at TDS suggest that India’s Q3 GDP is due for release today and great uncertainty surrounds these numbers as the introduction of a GST system in July has deeply affected trade in the country which contributes to approx. 20% of GDP formation.Key Quotes“The GST is also believed to have widely distorted data the CSO uses to compile the GDP series, which makes estimating thes...

10:01 30 November /2017 Forex

Australia: Total private credit grew by 0.4% in October 2017 - Westpac

Andrew Hanlan, Research Analyst at Westpac, explains that for October, Australian credit to the private sector met their expectations as total credit grew by 0.4%, in line with the average of the past three months.Key Quotes“Housing continued to slow gradually in the wake of tighter lending conditions and at this late stage of the cycle. October saw a gain of 0.47% after a 0.48% i...

10:00 30 November /2017 Forex

Australia: Q3 CAPEX continues the recent run of more positive news - Westpac Sandeep Kanihama

The ABS private capex survey for September continued the recent run of more positive news on business investment and in summary, business investment has lifted and will advance in 2017, following four years of decline, explains Andrew Hanlan, Research Analyst at Westpac.Key Quotes“The drag from the mining investment wind-down is greatly diminished, although not fully complete, and...

10:00 30 November /2017 Forex

When are the Eurozone flash CPIs and how could they affect EUR/USD? Dhwani Mehta

Eurozone flash CPIs estimate overviewEurostat will publish the Euro zone's inflation first estimate for November at 10.00GMT today. Consumer prices are expected to accelerate to 1.6% on a yearly basis versus 1.4% seen previously. While the core figures are also expected to edge higher to 1.1% in the reported month.Deviation impact on EUR/USDReaders can find FX St...

09:46 30 November /2017 Forex

China: PMI's suggest robust momentum rolls on - Westpac

In November, China’s official PMIs reversed part of October’s surprise fall and overall, both surveys point to continued robust momentum, according to Elliot Clarke, Research Analyst at Westpac.Key Quotes“At 51.8, the NBS manufacturing PMI is currently a touch below the long-run average and marginally above the average of the past year. This is despite a more stringent approach to...

09:23 30 November /2017 Forex

Australia: Q3 capex came in as expected at 1% - TDS Sandeep Kanihama

Analysts at TDS note that Australia’s headline Q3 capex came in as expected at 1% and the figure that feeds into GDP – Machinery, plant and equipment rose 0.7%/qtr, though this should do little to impact next week’s Q3 GDP forecast of 0.7%/qtr, 3%/yr.Key Quotes“The 1% increase in Q3 capex was driven by a 2.1% rise in services investment (~60% of capex), but manufacturing fell –2.7...

09:23 30 November /2017 Forex

ECB to shut asset purchase programme by end-2018 – Reuters poll

Reuters came out with the latest poll of economists on the ECB’s monetary policy and economic outlook going forward.Key Findings of the poll:52 of 60 economists say European central bank to shut asset purchase programme by end-2018.Remaining expect by mid-2019.ECB to leave policy unchanged at Dec 14 meeting.Keep rates on hold through end-2018.Euro zone GDP growth ...

09:00 30 November /2017 Forex

Eurozone: Core inflation remains subdued – Lloyds Bank

Eurozone ‘core’ inflation, which excludes food and energy, fell unexpectedly to 0.9% in October from 1.1% and was driven primarily by a fall in services inflation to 1.2% from 1.5% as the headline rate fell to 1.4% from 1.5%, explains the research team at Lloyds Bank.Key Quotes“We still expect underlying price pressures to gradually build over the coming quarters, helped by strong...

09:00 30 November /2017 Forex

BoJ’s Harada: Current policy is sufficient to hit 2% inflation Dhwani Mehta

Additional headlines crossing the wires from the BoJ board member Harada are as follows:Current policy is sufficient to hit 2% inflation.BoJ must ease policy further if an external shock hits the economy.BoJ shouldn't guide mon pol with specific fx levels in mind.MOF not BoJ has ju...

09:00 30 November /2017 Forex

Australia: Dwelling approvals holding up – Westpac Sandeep Kanihama

Australia’s dwelling approvals again surprised to the upside in Oct, posting a 0.9% rise against expectations of a 1% decline, notes Matthew Hassan, Senior Economist at Westpac.Key Quotes“The detail shows a very sharp rise in Vic approvals, up 24.3%mth, more than offset a significant fall across the rest of Australia (down 8.3%mth on a combined basis).”“Annual growth in dwelling a...

09:00 30 November /2017 Forex

Japan: Rise in inflation to 2% could trigger dual crises - Nomura

Mr. Kuroda’s current stance, under which the Bank refuses to comment on an exit from QE until inflation climbs to 2%, will maximize the risk of a JGB crash when inflation reaches the target level, according to analysts at Nomura.Key Quotes“If the BOJ were to begin winding down QE only after inflation hit the 2% mark, as demanded by Mr. Kuroda, there would be no private-sector buye...

08:46 30 November /2017 Forex

Crypto Today: Bitcoin steadies in Asia, 11k still on sight

Bitcoin (BTC/USD), the largest cryptocurrency, steadied in the Asian trades around the midpoint of 10k handle, after having witnessed a volatile session a day before. Bitcoin rallied hard yesterday and hit record highs at $ 11,472.20 before plunging nearly 18% to trade below the $ 10k mark in the overnight trades. Accordi...

08:46 30 November /2017 Forex

Fitch: Brighter outlook for APAC banks, risks remain

The US-based ratings agency, Fitch Ratings said in its latest report published on Thursday, “Fitch Ratings' outlook for bank performance in Asia-Pacific (APAC) is decidedly less negative than at the start of 2017, with the improved economic backdrop likely to support loan demand and asset quality.“Key Points:“The benign environment has the potential to mask weaken...

08:23 30 November /2017 Forex

NZ dwelling consents down 9.6% in October 2017 - Westpac Sandeep Kanihama

Satish Ranchhod, Senior Economist at Westpac, explains that volatility in apartment number pulled New Zealand’s overall consent numbers down, and nationwide build levels have flattened off. However, we’re seeing positive signs in Auckland, he further adds.Key Quotes“Residential consent issuance fell 9.6% in October. That was a larger pull back than we had expected. Much of this mo...

08:23 30 November /2017 Forex