Forex Live News Feed

  • Biden says 'time to act' on $1.9 trillion stimulus
    Biden urges Senate to pass legislation Biden called on the Senate to quickly pass the $1.9 trillion stimulus package after it cruised through the House. "It's time to act," he said on Saturday, noting that an "overwhelming" percentage of Americans support the bill. "We have no time to wasted." Read more »
  • New Zealand to a 7-day lockdown for Auckland
    The PM announced the new lockdown after  a community case of coronavirus with an unknown origin was detected. The rest of the country will be placed into a less restrictive alert level 2.  Read more »
  • ForexLive Americas FX news wrap: Australian dollar crushed
    Forex news for North American trading on February 26, 2021: Markets: The reverberations from yesterday's bond implosion left broader markets in a delicate state. Even as yields turned much lower, FX risk trades couldn't get a footing. How much of that was month-end and how much was jitters was open to debate. Read more »
  • Late selling sends US equities into the red despite bond market reversal
    Closing changes for the main North American indexes Yields finished near the lows of the day and about 20 minutes before the close that looked like it was going to spill into equities as they quickly jumped but right at the end of the day there was some hard selling Read more »
  • Bond yields fall to the lows of the day
    That's a good sign US 10-year yields are down 8 bps to 1.43% and 30s are down 11 bps to 2.17%. Both are at or just above the lows of the day. The question is whether that's month-end rebalancing flows or if it's a sign that the bond rout is exhausted. Read more »
  • The US dollar was the top performer this week and AUD lagged
    The dollar had a big week King Dollar reigned this week but it was essentially a one-day move with today's dollar rally accounting for nearly all of the weekly gain. Read more »
  • WTI slumps late to settle at $61.50
    Selling continues after settlement Oil has had a spectacular run this month, gaining nearly 20% but it's finishing on a soft note. Crude is down $2.04 to $61.39 after settling at $61.50. Read more »
  • Biden will let Trump-era China tech rules take effect next month
    WSJ report The Biden administration will give the Commerce Department the ability to ban technology-related business transactions that it determines pose a national-security threat, part of an effort to secure US supply chains, Read more »
  • US sanctions 76 Saudi officials over Khashoggi killing
    Laughable response Asiri is a general and advisor to Khashoggi. Biden campaigned on "making Saudi Arabia the pariah it is" and Trump said the same. Yet here we are with another slap on the wrist. I should have known better. Read more »
  • Baker Hughes US oil rig count 309 vs 303 expected
    US drilling rig data from Baker Hughes You would think the freeze up would have slowed drilling. OPEC isn't going to like to see more US drilling as it eases output. The upcoming meeting will be an interesting one. Read more »
  • US will announce actions taken in response to Khashoggi killing
    US-Saudi relationship in focus At 2:30 pm ET (1930 GMT), the US State Dept will announce actions taken in response to the killing of Washington Post journalist Jamal Khashoggi. Read more »
  • Atlanta Fed GDPNow Q1 tracker +8.8% vs +9.6% prior
    Down 0.8 pp since yesterday From the Atlanta Fed: The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2021 is on February 26, down from 9.6 percent on February 25. After this morning's releases from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the Read more »
  • European equity close: UK stocks tumble in a rough day everywhere
    Closing changes for the main European bourses: On the week: I like the valuation of UK stocks but that chart looks like a messy head-and-shoulders and that uptrend from the Nov low looks vulnerable. Read more »
  • Commodity currencies hit fresh lows on broad USD bid
    Treasury yields near the highs of the day US equities are bouncing but other markets aren't buying it. The commodity currencies are at the lows of the day, with USD/CAD breaking 1.27 and AUD/USD nearing 0.7700. Read more »
  • S&P 500 rebounds into positive territory, climbing 1.4% from the lows
    Stocks back in the green The S&P 500 fell as low as 3789 but it has rebounded to 3839. That's a 1.4% bounce from the bottom. The turn came in part after the ECB's Stournaras talked about speeding up the pace of QE to counteract the rise in yields. I think that was only a small part Read more »
  • Canada April-Dec budget deficit C$248B vs C10.9B a year ago
    Huge deficit in Canada These numbers are so insane they're almost comical. Read more »
  • US removes key stumbling block in global deal on digital tax
    That's not good news for mega-cap tech companies Janet Yellen the G20 that the US will drop its insistence on safe harbour measures that would have made a global digital tax voluntary. Read more »
  • The market is pricing a much-quicker transition to a taper and hike this time
    A comparison of the financial crisis and now How quick will the Fed move? That's the question underlying all the anxiety in the bond market that's spread everywhere else. ADFter a brief bounce, US equities are lower again today and after falling to 0.73%, US 5-year yields are at 0.80%. Read more »
  • U Mich February final consumer sentiment 76.8 vs 76.5 expected
    Consumer sentiment data from the University of Michigan That's a modest beat on higher expectations but the market isn't focused on survey data at the moment, it's focused on bond and yields are ticking higher. Read more »
  • S&P 500 opens modestly higher led by tech
    Stocks climb at the open You'd really like to see a stronger bounce than this. Read more »