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NEXTDC shares plunge 44% as power delays expose AI data centre bottleneck Nvidia in talks to invest hundreds of millions in Firmus after AI cloud firm’s IPO flop US intel says Putin ordered NATO sabotage drive, Leipzig drone attack an opening shot Japan’s Katayama sees no gap with BOJ, says wage-driven inflation is near PBOC sets USD/ CNY mid-point today at 6.7192 (vs. estimate at 6.6779) Japan…
The report raises the perceived risk of escalation between Russia and NATO, which would tend to support European defence stocks and weigh on European risk sentiment if officials respond with tougher measures. The energy channel is the one to watch: Russia’s diesel supply deal with Washington and the pause in new US sanctions were aimed partly at keeping Moscow out of the war with Iran, so any…
The trade data is broadly supportive for the yen and for the BOJ’s tightening case, with exports still growing strongly and firms passing higher costs through to prices. The narrowing deficit owes much to oil disruption rather than weaker demand: Houthi rerouting delayed crude arrivals, so the import bill is likely to rebound in October as Suez-routed tankers arrive and procurement returns to…
Netflix tops Q3 profit forecast but trims two full-year targets as Q4 guide disappoints Trump: Ukraine has to want to settle this war, if not it's going to be a very bad thing Finland President Stubb offers some optimism for Russia-Ukraine peace BOE's Greene keeps banging the hawkish drum, and she’s not alone anymore European stocks close mostly lower as Middle East headlines drive market swings…
There are some incremental positive developments on the road to peace in Ukraine. Finland's President Stubb said this: On a substantive and technical level, we’ve made a lot of progress under the radar in the past week or so towards a peaceful solution to the war in Ukraine. Similarly (though less explicit) Norway's PM said that after meeting with Ukraine On a more substantive note, ABC reports…
Prior was +0.3% Index vs 71.2 prior For background. the US pending home sales report provides an early indication of demand in the existing housing market. Published monthly by the National Association of Realtors, it tracks signed contracts to purchase existing homes, rather than completed transactions. That distinction is what gives the report its value. A home typically goes under contract one…
Al Araby Al Jadeed is reporting that Qatar and Pakistan have put a “compromise proposal” in front of Washington and Tehran that meets the demands of both sides. The key detail is that the plan, presented to Iranian officials today by Pakistan’s army chief, reportedly already has American sign-off and some prior Iranian approval. The reported terms: Release of $6 billion in interest on Iranian…
Prior was 1.305m Building permits 1.400m vs 1.395m Prior permits 1.275m Permits change m/m vs -2.1% prior This is another disappointment on the housing front and comes after yesterday's survey of home builders showed sentiment at the worst levels since 2012. High mortgage rates are the big problem in the industry, which is in a deep recession. There is a bit of help today in the rates market with…
Headlines: The Indian Rupee's sharp rebound following RBI intervention may prove temporary amid renewed surge in oil prices Solana remains under pressure as macro and geopolitical headwinds overshadow Alpenglow upgrade Crude oil surges further amid Houthis attacks on Saudi energy targets and stalled US-Iran negotiations Germany October ZEW survey current conditions -35.9 vs -45.0 expected…
Germany ZEW survey current conditions vs -45.0 expected Prior -47.1 Germany ZEW survey economic sentiment vs 30.0 expected Prior 34.7 The breakdownMore to come... What does the data measure?The ZEW survey measures financial analysts' and institutional investors' views on Germany's economy. The expectations index looks six months ahead, while the current conditions index assesses the present…
EUROPEAN SESSION In the European session, the main highlight was the UK employment report. The data beat expectations across the board and brought forward rate hike bets for the BoE. Tomorrow, we will get the UK CPI report which could strengthen expectations further in case the core figures come out hot. Looking ahead, we have the German ZEW survey which is expected to ease to 30.0 from 34.7 in…
UK August ILO unemployment rate 4.7% vs 5.0% expected Prior 4.9% UK August employment change 102k vs 5k expected Prior 67k UK August average weekly earnings +3.7% vs +3.8% 3m/y expected Prior +3.9% UK August average weekly earnings (ex bonus) +3.7% vs +3.6% 3m/y expected Prior +3.5%; revised to +3.6% UK September payrolls change 13k Prior -26k; revised to 1k Wow. That is quite the contrast from…
UK August ILO unemployment rate % vs 5.0% expected Prior 4.9% UK August employment change k vs 5k expected Prior 67k UK August average weekly earnings +% vs +3.8% 3m/y expected Prior +3.9% UK August average weekly earnings +% vs +3.6% 3m/y expected Prior +3.5% UK September payrolls change k Prior -26k More to come.. This article was written by Justin Low at investinglive.com.
Germany September PPI +1.9% vs +1.5% m/m expected Prior +1.1% Germany September PPI +6.7% vs +6.2% y/y expected Prior +4.6% The breakdownWell, this marks another solid jump in German producer prices with the annual rate climbing to 6.7% now in September. That marks the strongest year-on-year increase since March 2023, with rising energy prices continuing to be the main culprit. Looking at the…
Germany September PPI +% vs +1.5% m/m expected Prior +1.1% Germany September PPI +% vs +6.2% y/y expected Prior +4.6% The breakdownMore to come... What does the data measure?The PPI tracks changes in prices charged by German manufacturers for goods sold domestically. It offers an early indication of inflationary pressures before they potentially reach consumers. Why does it matter to…
Daiwa: BOJ shifts focus from reaching 2% inflation to keeping it there, wages hold the key MUFG says firmer China growth offers yuan support, but uneven demand limits the upside PBOC to run daily overnight reverse repos to Nov 2 in first step after policy rate signal Are US Treasuries still a hedge? Citi Australia CEO says the bonds are losing their edge ICYMI: Morgan Stanley names Amazon a top…
Canada September CPI 3.1% y/y vs 3.2% expected US NAHB housing market index 29 vs 31 prior Bank of Canada Q3 business outlook survey -0.33 vs -0.38 prior CIBC cuts gold forecasts but still sees $5,500 in 2028 Oil reverses course higher after US and Houthi attacks Markets: S&P 500 up 0.4% WTI crude oil up $2.37 to $103.78 US 10-year yields up 4.2 bps to 5.14% AUD leads, JPY lags Gold down $25 to…
Republicans are running out of time to turn it around ahead of the November 3 midterm elections. Trump is increasingly a liability of the party as his approval hits a record low of just 31%. It's an ugly chart as it continues to deteriorate with an inflection following the March war in Iran. Worse yet is the broader polling trend: Democrats lead Republicans 47% to 35% on the generic congressional…
BOS indicator -0.33 vs -0.38 in Q2 (revised from -0.39) Future sales balance of opinion +42 vs +15 in Q2 18% of firms report an outright decline in sales over the past 12 months vs 22% in Q2 6% of firms expect a recession in the next year vs 17% in Q2 41% of firms expect inflation above 3% over the next two years vs 44% in Q2 Consumers’ 5-year inflation expectations 3.91% vs 3.39% in Q2 53.0% of…
Priorw as 32 Current sales 33 vs 35 prior Sales over the next six months 32 vs 37 prior Prospective buyers 18 vs 23 prior The latest survey found that 43% of builders cut prices in October, the highest share during the 2020-2026 period. The average price cut remained at 6% for the seventh consecutive month. Meanwhile, 65% of builders reported using sales incentives in October, the 19th straight…
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