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Moves from Western allies to cap the price of Russian oil will be a benefit to others says US Treasury Secretary Yellen. Beijing will benefit from the new price cap mechanism to be imposed in December China and other buyers of Russian oil will have more leverage to negotiate lower prices “We see the price

Chinese yuan, both onshore and offshore, adds further to gains IMF on global economy – “the outlook is gloomier”, particularly in Europe. Morgan Stanley forecast US CPI to be under 2.0%y/y by the end of 2023 More on Yellen seeing benefits for buyers of Russian oil with the price capped Bitcoin sliding further – the

The dollar is bouncing back across the board to start the new week, helped by some earlier remarks by Fed board member Waller earlier here. EUR/USD is down 0.4% to near 1.0300 and USD/JPY seen up 0.4% to 139.40 currently, off earlier highs of 139.90 at the start of the day. The technical picture continues

That is helping to keep the dollar in a firmer spot as we look towards European trading. The mood isn’t helped by a pushback from Fed board member Waller here. And as mentioned at the end of last week, Fedspeak is pretty much the only thing that could dampen this relief rally in markets. For

Morgan Stanley projects that the global economy will grow by 2.2% next year but says that “risks are to the downside” when it comes to such an outlook. For some context, the projection is even lower than the IMF’s latest growth estimate of 2.7%. The firm says that a resilient job market could allow for

Albanese says that he is looking forward to a “constructive discussion” with Xi tomorrow, adding that Australia will enter into the discussion with goodwill. Relations between the two countries have been frosty in recent years, and the rising tension has not been a positive development for the Australian economy in particular. So, let’s see how

20% of reserves are in SHIB, reflecting what customers bought As a company, we have 1:1 reserves We do not lend to third parties, do not take counterparty risk There was a run on funds held in Crypto.com over the weekend after the exchange “mishandled” a $400 million Ethereum transaction. The timing of things couldn’t

Eurostoxx +0.3% Germany DAX +0.4% France CAC 40 +0.3% UK FTSE +0.4% Spain IBEX +0.4% This builds on the break higher at the end of last week, with the DAX looking towards its highest levels in five months. The overall market mood is more tentative though, as US futures pause for breath. S&P 500 futures

This comes as equities are faring slightly better to start the session with US futures also paring some of its losses from earlier. The dollar is seeing its early advance run back a little now as traders start to get settled into the new week, after a bit of a breather in Asia trading earlier

Closing changes for the main European bourses: UK FTSE 100 +0.4% French CAC +0.3% German DAX -0.2% Spain IBEX -1.5% Italy MIB -0.2% The drop in Spain was the largest since October 2 and it was basically a product of Banco Santander falling 6.5% after it warned about capital levels coming under pressure from regulation.ForexLive

Here is the order paper for today ForexLive Boris Johnson is going to be tabling an election bill motion, after which looks set to be debated by lawmakers before a vote takes place at the end of the day – similar to yesterday. The difference this time around is that traditionally, lawmakers will have days

German bund yields shoot up as a Brexit extension looks a done deal now ForexLive With France turning the corner on the Brexit extension deadline this morning, it is putting a bit of pressure on bonds with yields climbing higher on the day now. German bund yields have shot higher while Treasury yields are also

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

Richmond Fed manufacturing index for October 2019 Prior month -9 shipments 4 versus -14 in September new orders 7 versus -14 in September number of employees 13 versus 3 in September average workweek 10 versus -10 in September wages 15 versus 24 in September backlog orders 6 versus -11 in September vendor leadtime -3 versus

Johnson defiant so far but he will send it and ask parliament to vote Monday UK parliament passed the Letwin amendment by a vote of 322-306 today in a move that forces Boris Johnson to write a letter to the EU and ask for a Brexit delay. So far the Prime Minister has been defiant;

Weekly FX performance The combination of risk appetite and the potential for a Brexit deal and better risk sentiment. The chart has been explosive since Brexit sentiment turned on October 9. In that time the pair has risen 950 pips. I wrote on Tuesday that I would look to buy on a pullback to 138.00/137.80.

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

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