News

US President-elect Joe Biden is choosing between a former Federal Reserve vice-chair, and an executive at BlackRock to be his top White House economic adviser. Y’all know about the Federal Reserve, and ICYMI BlackRock is the world’s largest asset manager with something like $7.4 trillion in assets under management. Roger Ferguson, a former Federal Reserve vice chair
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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
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Markit manufacturing and services data for November 2020 Prior was 56.9 Manufacturing 56.7 vs 53.0 expected Prior manufacturing was 53.4 Composite 57.9 vs 56.3 prior This is a big beat with both numbers above the top of the estimate ranges. Chris Williamson,Chief Business Economist at IHS Markit,said: “The November PMI surveys provide the first post-election
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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
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US oil storage is once again approaching capacity Coming Up! Title text for next article LON SDNY+11 NY -5 TYO +9 GMT Inventories at Cushing are just over 80% of capacity  The supply glut reasons are familiar from earlier in the year, mainly surrounding demend destruction due to lockdown measures, although, at this stage a
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November data from the Philly Fed Details: New orders  +37.9 vs +42.6 prior Shipments 24.9 vs 44.9 prior Employment +27.2 vs +12.7 prior Prices paid +38.9 vs +28.5 prior Future index +44.3 vs +62.7 prior The Empire Fed was at 6.5 vs 13.5 expected at the start of the week, so there was likely some
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The most actively traded iron ore futures contract on the Dalian Exchange has hit a record high circa 877 yuan/tonne Up more than 2%. Iron ore is Australia’s largest export to China, some good news for AUD (until CHina slaps a ban on this too?) For bank trade ideas, check out eFX Plus
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US housing starts and building permits for October 2020 US housing starts for October 2020 comes in higher than expectations at 1530K vs. 1460K estimate. The prior month was revised higher to 1459K from 1415K previously reported US building permits for October 2020 come in lower than expectations at 1545K vs. 1567K estimate. That is unchanged
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Sales expected to rise 0.5% The October US retail sales report is due at the bottom of the hour. The consensus is for a 0.5% rise following the 1.9% jump in September. The US consumer has held up remarkably well during the pandemic and cutting off extra unemployment benefits hasn’t hurt. The savings rate is
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