Articles
Big moves hit the FX market, particularly JPY. Likely month-end fixing flows in play
51591 April 30, 2020 23:02 Forexlive Latest News Market News
There is no fundamental news behind these big moves in the market.
The particularly large moves are in yen crosses, which are soaring. GBP/JPY is up 150 pips in minutes.
White House economic advisor: Expects unemployment rate at 19%
51590 April 30, 2020 22:26 Forexlive Latest News Market News
White House economic advisor Hassett is on FOXNews saying:
The 19% level is a bit high compared to market expectations. The meeting estimate as per Bloomberg is 16.3%. The average is 15.12% with a high estimate of 22%.
Remember….Adam Button is scheduled to speak at ForexAnalytix event shortly
51589 April 30, 2020 21:49 Forexlive Latest News Market News
As a reminder who registered, Adam button will be speaking at the ForexAnalytix traders summit.
The topic:
News Matters more than ever: 8 ways to use it to get an edge in FX
US major indices open mixed. NASDAQ outperforms
51588 April 30, 2020 21:33 Forexlive Latest News Market News
the US major indices are opening lower with the NASDAQ outperforming the S&P and Dow industrial average.
A snapshot of the markets is showing:
ECB Lagarde Press conference
51587 April 30, 2020 20:40 Forexlive Latest News Market News
See here for global coronavirus case data
Canada February GDP +2.1% vs +2.2% y/y expected
51586 April 30, 2020 20:35 Forexlive Latest News Market News
Canada wasn’t doing particularly well in Q1 even before the pandemic hit. Part of that was the fall in oil prices early in the year.
US March personal spending -7.5% vs -5.0% expected
51585 April 30, 2020 20:33 Forexlive Latest News Market News
Inflation:
– PCE core MoM -0.1% vs -0.1% expected
– Prior MoM +0.2%
– Deflator YoY 1.7% vs +1.6% expected
Consumers spending and income for March: Personal income -2.0% vs -1.7% expected. Prior month +0.6% Personal spending -7.5% vs -5.1% expected. Prior month +0.2% Real personal spending -7.3% vs -6.2%
US initial jobless claims 3839K versus 3500K estimate
51584 April 30, 2020 20:33 Forexlive Latest News Market News
See here for global coronavirus case data
There’s a full slate of economic data due at the bottom of the hour
51583 April 30, 2020 20:21 Forexlive Latest News Market News
The ECB press conference will start just after the bottom of the hour but first we get:
The jobless claims numbers haven’t been able to rattle the market since the virus started and I don’t see why that would change today. The inflation data in the PCE report won’t matter but the spending and
The market isn’t too impressed with the ECB statement, over to Lagarde now
51582 April 30, 2020 20:05 Forexlive Latest News Market News
See here for global coronavirus case data
The key takeaway from the ECB decision is that they didn’t provide any further follow-up on PEPP besides reaffirming that they will be willing to take further action.
ForexLive European FX news wrap: Eurozone economy sees steepest contraction on record
51581 April 30, 2020 19:26 Forexlive Latest News Market News
Headlines:
Markets:
– CHF leads, AUD lags on the day
– European equities slightly lower; E-minis down 0.1%
Heads up: ECB monetary policy meeting decision due later today, what to expect?
51580 April 30, 2020 19:05 Forexlive Latest News Market News
here
By expanding QE and announcing PEPP, I’m sure the ECB would’ve liked to be in better standing ahead of today’s meeting but as seen with the yields spread between Italian and German bonds, the market isn’t quite nearly as convinced: