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If you lot are finished trashing the hapless Nasdaq I can give you a heads up on what's ahead in Asia. Main focus is on the data from Japan. I'll post a preview of the September CPI separately. The Tokyo area data for September was ... fastest in 10 months, strengthening BOJ rate hike case This article was written by Eamonn Sheridan at investinglive.com.
The Treasury sold $26 billion of 5-year Treasury Inflation-Protected Securities, or TIPS, with the following results: High yield: 2.367%. WI level at the time of the auction: 2.360%. Tail: 0.7 basis point vs the average of 0.2 basis point. Bid to cover: 2.41X vs the average of 2.52X. Directs: 32.4% vs the average of 23.0%. Indirects: 62.1% vs the average of 67.8%. Dealers: 5.5% vs the average of…
Prior was +1.3% m/m PPI y/y 14.5% vs 13.5% prior Raw materials price index 4.8% m/m vs 3.3% prior Raw materials price index 27.0% y/y vs 22.9% prior The market is pricing in an 80% chance of a Bank of Canada rate hike on October 28. This week's CPI number was on the low side but this data point highlights the inflation in the pipeline. USD/CAD is down 10 pips to 1.4035 today and that highlights…
Prior week for initial claims 199K Prior week for continuing claims 1.710M Details from the release: Initial jobless claims: 194,000, down 6,000 for the week ending October 17. Prior revised to 200,000 from 199,000. Initial claims four-week average: 197,750, down 1,000. Prior revised to 198,750 from 198,500. Continuing claims: 1,728,000 vs 1,720,000 est., up 25,000 for the week ending October 10.…
Headlines: Oil rises as hopes for a deal fade amid growing prospects of another US attack on Iran US futures tumble as AI rally faces fresh scrutiny despite solid Meta earnings Chart of the day: Gold price falls below $4,100 as sellers threaten another breakdown Gold drops as Middle East tensions escalate, but growth concerns could provide support EUR/CHF falls to three-month lows as French bond…
France October business confidence 97 vs 96 expected Prior 96 France October industrial confidence 105 Prior 101 France October services confidence 99 Prior 98 The overall business climate picked up slightly in October but remains below the long-term average estimate of 100 for yet another month. For some context, the last time the business confidence index met the key level was all the way back…
EUROPEAN SESSION In the European session, we don't have much on the agenda other than a couple of low-tier releases like the SNB minutes and the UK CBI. None of the data will change anything for the respective central bank, so the market reaction will be muted. The market sentiment is currently in risk-off as Middle East tensions escalated late yesterday after the reports that the US military was…
While we haven't seen things escalate further recently, it is best to be reminded that US-Iran tensions are still very much simmering beneath the surface. And the IRGC is offering a reminder of that as they claim that four vessels were hit and caught fire in the northern Gulf, while three other vessels were reportedly struck by mines west of the Strait of Hormuz overnight. Besides that, Tehran is…
Kinder Morgan commits to $4.2B Texas gas pipeline to fuel hyperscale data center power Most analysts now expect the next BOJ rate hike in December, none see October move: Bloomberg Musk races to seal $3.7 trillion SpaceX-Tesla merger before Trump exits, Bloomberg says Bank of Korea holds rate at 3% after back-to-back hikes, keeps door open to November move PBOC sets USD/ CNY reference rate for…
The miss was too small to shift the policy outlook. Markets still price an October 28 hike as near certain and a cumulative 50 basis points of tightening by the end of February. The kiwi’s dip just below 0.57 suggests traders trimmed only the most aggressive hike bets. Oil is the key swing factor from here: the Middle East war is lifting fuel, fertiliser and transport costs, and with petrol…
New Zealand Q3 CPI 3.7% y/y expected 3.8%, prior 4.1% 0.7% q/q expected 0.8%, prior 1.5% Background: New Zealand CPI preview: Q3 inflation seen easing to 3.8% ahead of likely RBNZ hike This article was written by Eamonn Sheridan at investinglive.com.
US stocks close higher as tech leads the rally New Zealand CPI preview: Q3 inflation seen easing to 3.8% ahead of likely RBNZ hike US State Department is to prepared to issue a order departure at US embassies in the Gulf Bitcoin shows some buying life as risk-on flows return and push the digital currency higher US treasury sells $13 billion of 20 year bonds at a high yield of 5.469% European…
Crude oil has moved back to the upside amid renewed concerns about a possible resumption of hostilities in the Middle East. According to a Reuters report citing U.S. officials, the State Department is preparing to order the departure of some personnel and family members from U.S. embassies across the Gulf. The preparations reflect concerns about renewed hostilities, particularly involving the…
Prior auction yield 5.420% Details of the 20 year auction Jesus Christ WI level at the time of the auction: 5.460% High yield: 5.469% WI level at the time of the auction: 5.460% Tail: 0.9 basis points vs the average of 0.2 basis points Bid to cover: 2.73X vs the average of 2.62X Directs: 31.6% vs the average of 22.9% Indirects: 58.2% vs the average of 65.2% Dealers: 10.3% vs the average of 11.9%…
Headlines: Zcash jumps after US-Iran deal hopes improve crypto market sentiment. What to watch next? Crude oil volatility increases amid conflicting reports over US-Iran negotiations Connecting the dots: How rising government bond yields could hurt your retirement savings European markets steady for now but widening bond yield spreads offer a warning Bitcoin rallies on US-Iran deal hopes amid…
European equities are keeping steadier so far today with France's benchmark CAC 40 index even holding up by 0.3% on the session. Meanwhile, the euro is also only slightly lower against the dollar but is still holding above the 1.1200 level at around 1.1215 currently. That suggests traders are not quite rushing for the exits just yet. That being said, I wouldn't be too quick to mistake the calmer…
EUROPEAN SESSION In the European session, the main highlight was the UK CPI report. Headline inflation beat expectations slightly but the core measure matched expectations coming in at 2.8% y/y. The more concerning part for the BoE might be the jump in services inflation to 3.7% from 3.4% in the prior month. The reaction in the markets has been relatively muted as a rate hike in November was…
UK September CPI +3.5% vs +3.4% y/y expected Prior +3.1% UK September core CPI +2.8% vs +2.8% y/y expected Prior +2.6% As expected, headline annual inflation surged in the Uk during the past month with the reading being the highest since October last year. Higher energy costs are the main culprit here as transport, particularly motor fuels, made the largest upward contribution to the change in…
UK September CPI +3.5% vs +3.4% y/y expected Prior +3.1% UK September core CPI +2.8% vs +2.8% y/y expected Prior +2.6% More to come... This article was written by Justin Low at investinglive.com.
The UK CPI report for September is the main highlight on the economic calendar today, with the release due at 0600 GMT. The inflation numbers will be heavily watched as it will have a lot to say about what comes next on the BOE outlook, even if traders are almost fully pricing in another 25 bps move in November. Here's what to expect from the report: Headline CPI: +3.4% y/y expected (Prior +3.1%)…
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