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Eurozone September M3 money supply +10.4% vs +9.6% y/y expected

Tue, Oct 27, 2020 9:00 AM

Latest data released by the ECB - 27 October 2020 Meanwhile, loans to households also increased to +3.1% y/y while loans to corporates were steady at +7.1% y/y.

Germany's Altmaier says will likely see 20,000 new daily virus cases at the end of the week

Tue, Oct 27, 2020 8:39 AM

Comments by German economy minister, Peter Altmaier After the typical 'Monday effect', Germany another 11,409 new cases in the past 24 hours and that marks a fifth day out of six that cases breached the 10,000 mark.

Spain says that it will raise corporate, wealth taxes

Tue, Oct 27, 2020 8:34 AM

Spanish deputy prime minister, Pablo Iglesias, remarks That will certainly not go down well with large Spanish firms, amid the hit taken from the virus pandemic already. Just a reminder that spending is but a reflection of tax timings, and many countries will also follow to increase taxes in the next 5-10 years because has to

European equities open mixed to start the day

Tue, Oct 27, 2020 8:12 AM

Not much firm direction as we get the session underway There's little hints of any general direction as we get the session started, with major currencies also looking flatter across the board now. The dollar has pared its slight losses earlier to turn near flat levels against the euro and aussie.

China says will take necessary measures to uphold its security interests, following US arms sale to Taiwan

Tue, Oct 27, 2020 7:32 AM

Comments by the Chinese foreign ministry Tensions between the US and China aren't going away, regardless of the election result next week. And while the market has been less sensitive to the latest developments, be rest assured that the narrative will carry on for many more years to come.

Nickel and Copper set to gain on electric vehicle surge

Tue, Oct 27, 2020 7:07 AM

Commodities set to gain on green car shift The rise of electric vehicles is gaining pace with more and more vehicles available and a growing infrastructure to support them. According to Morgan Stanley electric-car sales are seen to boost Nickel the most of all the commodities used in producing an electric vehicle. Here is a rundown

Eurostoxx futures +0.3% in early European trading

Tue, Oct 27, 2020 7:04 AM

Slight gains observed in early trades - German DAX futures +0.5% - UK FTSE futures +0.3% - Spanish IBEX futures +0.5% This comes after the softer start to the week yesterday, with the DAX having slumped heavily on the back of the SAP crash - where it lost 1/5 of its market share in a day. The mood here

Nikkei 225 closes lower by 0.04% at 23,485.80

Tue, Oct 27, 2020 6:10 AM

Nikkei closes little changed, recovering from early losses The market mood soured in trading yesterday amid the fall in US equities, but that hasn't really translated over to Asia today. US futures are sitting ~0.2% higher so far, helping to ease some of the worries from the virus jitters to start the new week.

Trade ideas thread - European session 27 October 2020

Tue, Oct 27, 2020 5:45 AM

Daily thread to exchange ideas and to share your thoughts The moves so far are still within the realms of what we saw with price action yesterday, as the dollar posted slight gains but did little in terms of making any breakthroughs.

Economic data coming up in the European session

Tue, Oct 27, 2020 5:00 AM

A light one on the data docket in the session ahead The dollar is mildly weaker to start the day after posting slight gains in trading yesterday, though there was a lack of any solid momentum to get anywhere significant despite risk-off flows that saw US equities close by nearly 2% lower.

Heads up: A little more RBA speak coming up later today

Tue, Oct 27, 2020 4:28 AM

RBA assistant governor, Michele Bullock, will be speaking later This will follow remarks from the parliamentary hearing earlier , together with Debelle. Bullock is going to be speaking later at for about 15-20 minutes in a hosted by the Ayr Chamber of Commerce.

Germany reports 11,409 new coronavirus cases in latest update today

Tue, Oct 27, 2020 4:09 AM

The trend resumes after the 'Monday effect' seen yesterday This marks a fifth day out of six that new cases surpass the 10,000 mark, with another 42 deaths reported bringing the total on that front to 10,098 persons.

Coronavirus: Herd immunity confirmed as fake news

Tue, Oct 27, 2020 4:03 AM

Sky reports on a study showing COVID-19 antibodies fall rapidly after recovery

ForexLive Asia FX news wrap: Small loss for the US dollar

Tue, Oct 27, 2020 3:48 AM

Forex news for Asia trading for Tuesday 27 October 2020 It was a day of small ranges only and a lower USD almost across the board. AUD, NZD, GBP, CAD, EUR all rose, as did yen and CHF. Gold added on a few dollars also.

ICYMI - pollsters are overstating Trump's chances, here is why

Tue, Oct 27, 2020 3:41 AM

Adam's post from Monday is worth reposting, if you haven't read it please do so, it'll get you ahead of the game:

Trump's tweet about mail-in ballots has been banned by Twitter - here it is

Tue, Oct 27, 2020 2:56 AM

Twitter insinuating the president is a liar again, saying his comments were  "disputed and might be misleading about how to participate in an election or another civic process."

Japan finance minister Aso wants Japan to step in HK's place as a financial hub

Tue, Oct 27, 2020 2:31 AM

Aso says HK's ability to function as a fine hub is eroding.   He'll have to contend with competition from Singapore    More from Aso on other matters:

McConnell has adjourned the Senate until November 9

Tue, Oct 27, 2020 2:26 AM

Obviously there will be no coronavirus economic relief package passed ahead of the election. Not there was ever much prospect of this, McConnell's party in the Senate had been adamantly opposed to any further stimulus of the scale the Democrats and Trump were seeking, McConnell could never bring them on board. 

USD weakness almost across the board in Asia morning trade

Tue, Oct 27, 2020 2:18 AM

While ranges are only small currencies are up against the US dollar. Apart from what has been posted there is no fresh news nor data. China industrial profits were to focus, they were solid again in September although not growing quite so rapidly as in August.

Hong Kong Chief Executive Lam will go Beijing next week for 3 days of meetings

Tue, Oct 27, 2020 1:54 AM

Lam says discussions will centre on economic policies to revive HK China's national plenum is being held this week, no doubt HK will be a topic of discussion since China has resumed more control over the territory. 

Australian Q3 inflation data is due Wednesday 28 October 2020 - preview

Tue, Oct 27, 2020 1:37 AM

Due at 0030 GMT on Wednesday - Australia inflation data for the July to September quarter. Headline The RBA target band is 2 - 3% y/y, so not even close.

China industrial profits for September+10.1% y/y (prior +19.1% y/y)

Tue, Oct 27, 2020 1:32 AM

A solid rise but not as strong as in August For the YTD, -2.4% y/y

South Korea reports 88 new confirmed coronavirus cases

Tue, Oct 27, 2020 12:57 AM

While Europe and the US reports tens of thousands of new cases each day Asian countries are not doing the same. Not even close. Many orders of magnitude lower. 

China's latest coronavirus outbreak appears to be abating already

Tue, Oct 27, 2020 12:38 AM

China reports 16 new confirmed COVID-19 cases today (data as of the end of October 26). And 50 new 'asymptomatic' cases.  Yesterday:

South Korean vice fin min says will intervene in FX market if needed

Tue, Oct 27, 2020 12:21 AM

Vice Finance Minister commenting with respect to the persistently strengthening won