Market Wrap
The forex heatmap is not giving a clear risk-on/off signal with the British pound coming in the weakest and the euro as the strongest. Commodity pairs are mixed with strength in the NZD following through from this morning’s CPI data release. The CNY is also picking up after industrial data came in worse, but retail sales were okay.
US industrial production declined 1.3% month-over-month in September, falling below market expectations. On an annual basis, the total index rose 4.6%. The manufacturing output in September was down 0.7% from the previous month but was up 5.8% on an annual basis. Vehicle and part production fell 7.2%, while semiconductor shortages continue to slow operations.
See real-time quotes provided by our partner.
At the London close the US dollar was little changed for the day and remains withing the last couple of weeks trading range. There are talks around the US budget which may give the DXY some direction and a stronger euro will also add some pressure to the dollar index.
China’s industrial production rose by 3.1% in September compared to the same month in 2020 and lower than the expected 3.8%, according to a report published earlier today by the National Bureau of Statistics of China.
See real-time quotes provided by our partner.
Oil is in a very strong uptrend and while it remains at near 7-year highs the move today was weaker and a bearish signal if we see a close below yesterday’s low. Today’s price action had looked like a continuation of the trend but sharply reversed towards the end of the London session. Talks with Iran about their nuclear programme could lead to Iran being allowed to sell oil into the markets having the effect of adding supply. Gas was up around 7.50% again today.
With the scheduled tier-1 news in short supply traders turned their attention to macro themes like house builders. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) rose to 80.0 in October, exceeding analysts’ expectations. Although demand and home sales remain strong, builders continue to grapple with ongoing supply chain disruptions and labour shortages that are delaying completion times and putting upward pressure on building material and home prices.
According to the National Bureau of Statistics’ release on Monday, retail sales in China increased by 4.4% on a yearly basis in September. This figure was higher than expected at 3.5%. During the first three quarters, online sales grew by 18.5% from September 2020.
See real-time quotes provided by our partner.
The USDJPY has stalled on the USD sideways action and the pick-up in strength of the yen this afternoon. The current level is a major zone of resistance and a break above 114.80 would be a new 2 year high.
A comprehensive website for traders, both experienced and new! Checkout our content and learn how to invest and speculate in the markets using margin traded products. Our team of educators has extensive experience and is here to help. Enjoy!
© 2020 YouTrading UK - Leaders in Trader Training.
Cookie | Duration | Description |
---|---|---|
__cfduid | 1 month | The cookie is used by cdn services like CloudFare to identify individual clients behind a shared IP address and apply security settings on a per-client basis. It does not correspond to any user ID in the web application and does not store any personally identifiable information. |
_wpfuuid | 11 years | This cookie is used by the WPForms WordPress plugin. The cookie is used to allows the paid version of the plugin to connect entries by the same user and is used for some additional features like the Form Abandonment addon. |
cf_use_ob | This cookie is set by the provider Cloudflare content delivery network. This cookie is used for determining whether it should continue serving "Always Online" until the cookie expires. | |
cookielawinfo-checbox-analytics | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics". |
cookielawinfo-checbox-functional | 11 months | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". |
cookielawinfo-checbox-others | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. |
cookielawinfo-checkbox-advertisement | 1 year | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Advertisement". |
cookielawinfo-checkbox-necessary | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". |
cookielawinfo-checkbox-performance | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance". |
viewed_cookie_policy | 11 months | The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data. |
Cookie | Duration | Description |
---|---|---|
YSC | session | This cookies is set by Youtube and is used to track the views of embedded videos. |
Cookie | Duration | Description |
---|---|---|
_ga | 2 years | This cookie is installed by Google Analytics. The cookie is used to calculate visitor, session, campaign data and keep track of site usage for the site's analytics report. The cookies store information anonymously and assign a randomly generated number to identify unique visitors. |
_gid | 1 day | This cookie is installed by Google Analytics. The cookie is used to store information of how visitors use a website and helps in creating an analytics report of how the website is doing. The data collected including the number visitors, the source where they have come from, and the pages visted in an anonymous form. |
Cookie | Duration | Description |
---|---|---|
_fbp | 3 months | This cookie is set by Facebook to deliver advertisement when they are on Facebook or a digital platform powered by Facebook advertising after visiting this website. |
fr | 3 months | The cookie is set by Facebook to show relevant advertisments to the users and measure and improve the advertisements. The cookie also tracks the behavior of the user across the web on sites that have Facebook pixel or Facebook social plugin. |
IDE | 1 year 24 days | Used by Google DoubleClick and stores information about how the user uses the website and any other advertisement before visiting the website. This is used to present users with ads that are relevant to them according to the user profile. |
test_cookie | 15 minutes | This cookie is set by doubleclick.net. The purpose of the cookie is to determine if the user's browser supports cookies. |
VISITOR_INFO1_LIVE | 5 months 27 days | This cookie is set by Youtube. Used to track the information of the embedded YouTube videos on a website. |
Cookie | Duration | Description |
---|---|---|
_gat_UA-42160853-2 | 1 minute | No description |
cf_ob_info | No description | |
CONSENT | 16 years 8 months 3 days 6 hours 2 minutes | No description |