- Trump says "I'm going to be making a very big announcement" on November 15
- FTT coin is falling further, under $20
- Swiss National Bank Chairman Thomas Jordan is speaking on Tuesday, 8 November 2022
- China export slowdown “is a worrying sign for global growth”
- China reopening - after 2022?
- RBNZ inflation expectations data still rising: 2 year expectations 3.62% (prior 3.07%)
- Société Généralesays short GBPJPY is an appealing trade, maybe
- Bank of Japan JGB buying today
- PBOC sets USD/ CNY central rate at 7.2150 (vs. estimate at 7.2173)
- China new locally transmitted COVID cases rise again
- Goldman Sachs: 3 reasons for a US recession & 4 steps to avoid one
- Australian Business Confidence 0 (prior 5) & Conditions 22 (prior 25)
- UK: October total sales, October like-for-like sales, & October consumer spending all up
- BOJ October meeting 'summary': FXlevels are determined by fundamentals
- Japan wages data for September
- Japan household spending +1.8% m/m (expected +1.7%) and +2.3% y/y (expected +2.7%)
- Australian Consumer Confidence (November) -6.9% m/m (prior -0.9%)
- Australia's weekly consumer confidence continues to collapse - monthly survey due soon
- Australian inflation expectations have hit their highest ever on record for this survey
- Goldman Sachs cuts EUR/USD forecast to 0.94 (3 month horizon, down from 0.97
- Over $1 billion in Bitcoin stolen from Silk Road - US authorities are claiming it
- RBNZ (New Zealand central bank) governor Orr has been reappointed for a 2nd 5-year term
- UK PM Sunak to strike gas (LNG) deal with US to ease energy crisis
- Forexlive Americas FX news wrap: Dollar falls for the second consecutive day
- Australian service PMI for October falls further into contraction: 47.7 (prior 48.0)
- US media report China considering steps toward reopening, proceeding slowly, no timeline
- US major indices close higher. Gains led by the Dow 30 (again)
- Trade ideas thread - Tuesday, 8 November 2022
The China reopening rumours are persistent, despite official Communist Party denials. The chatter was offset today though by the biggest rise in coronavirus cases in six months. Chinese stock markets gave back some of their recent gains during the morning session.
Crypto markets were rocked further by the ongoing FTT coin slump. As I post its just under USD18.
Bitcoin is just above USD20K.
Moves across major FX, on the other hand, were subdued. EUR, JPY, AUD, GBP and others are a touch softer against the USD. Ranges are small only though.
Data releases were of lower-tier importance only. Australian business confidence and conditions fell from the previous month. Consumer confidence is cratering. Westpac's monthly measure of consumer sentiment plunged. WPAC analyst cited: inflation; poor response to the Budget; and rising interest rates.
Inflation expectation indicators in Australia (the weekly survey hit its highest ever) and New Zealand continue to rise.
FTT:
