Tune out of Japan’s politics – but buy Japanese stocks

Japan's recent general election was devoid of much interest. But the country's stockmarket holds plenty of appeal.

from Moneyweek RSS Feed https://moneyweek.com/investments/stockmarkets/japan-stockmarkets/604062/tune-out-of-japans-politics-but-buy-japanese
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Stockmarket bulls drive share prices to record highs

Despite shortages of semiconductors and workers, the energy crisis and ongoing pandemic-induced dislocations, stocks are at record highs. 

from Moneyweek RSS Feed https://moneyweek.com/investments/stockmarkets/604061/stockmarket-bulls-drive-share-prices-to-record-highs
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The Budget brought a short-term reprieve for investors

The Budget spared investors for now – so make sure you use up all your your allowances.

from Moneyweek RSS Feed https://moneyweek.com/economy/uk-economy/budget/604056/the-budget-a-short-term-reprieve-for-investors
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Share tips of the week – 5 November

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.

from Moneyweek RSS Feed https://moneyweek.com/investments/stocks-and-shares/share-tips/604052/share-tips-of-the-week-5-november
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How to invest in lab-grown meat – the future of food production

With lab-grown meat, steak is back on the menu for greens and animal lovers – but at what cost? Stuart Watkins reports

from Moneyweek RSS Feed https://moneyweek.com/investments/commodities/soft-commodities/604049/lab-grown-meat-prime-cuts-from-the-ameglian-cow
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Daily Market Outlook, November 5, 2021

Daily Market Outlook, November 5, 2021 Overnight Headlines House To Vote Friday On Build Back Better And Infrastructure Bills Republicans Aim To Repeat Youngkin's Schools Tactic In Elections Republicans Want Billions For Taiwan Military Aid To Counter China Fed Chair Jerome Powell Seen Visiting The White House On Thursday ECB's Schnabel: Aware Of Inflation Fears; Unlikely To Hike Next Year British And French Talks To Settle Fishing Row End In Stalemate Portuguese Head To The Polls On January 30, Political Stability Fades Chinese Bonds Advance On PBOC’s $16 Billion Liquidity Injection Covid Outbreak Spreads To 20th China Province As Cases Near 800 Kaisa And Major Units Suspend Trading After Missed Payments Japan Household Spending Falls As Virus Keeps Consumers Wary RBA Sees First Rate Hike In 2024 As Wage Growth Remains Sluggish Bond Yields Slide From The UK To US As Traders Trim Rate Bets Oil Prices Rises After OPEC+ Rejects Calls For Additional Supply The Day Ahead Asian equity markets were mixed overnight ahead of today’s US labour market report. Global stocks, however, are set to end the week higher, supported by positive earnings reports. Markets continued to digest yesterday’s decision by the Bank of England to leave interest rates unchanged, with the majority on the MPC feeling that there continued to be value in waiting for additional information, particularly about near-term developments in the labour market following the end of the furlough scheme. After yesterday’s Bank of England policy decision, the focus returns to the US today with the release of the October labour market report. We had confirmation earlier this week that the Fed will start tapering its $120bn-a-month of asset purchases, initially with monthly reductions of $15bn, which suggests the tapering process could end by mid-2022. The Fed, however, seems in no great hurry to lift interest rates. That contrasts with the UK where, despite yesterday’s no rate change decision, the BoE indicated that rates will need to rise in the coming months to return inflation back to target. For the US employment report later today, look for an increase in nonfarm payrolls of 520k, slightly above the consensus forecast for 450k. That would be an uplift from the disappointing outturns of the last two months (366k in August and 194k in September), as the number of Covid cases has fallen back. That’s supported by the separate ADP report which showed a pickup in private sector jobs growth during the month. Also expect the unemployment rate to fall from 4.8% to 4.7%, a new low since the start of the pandemic, although it remains higher than pre-Covid. It may also underestimate the degree of labour market slack, given the fall in the labour force participation rate. Still, annual growth in hourly earnings is predicted to move up to 4.9%y/y which, in the absence of offsetting productivity gains, may lead to further price rises in the wider economy. For now, the Fed continues to see current high inflation rates as being largely transitory. The pound fell significantly yesterday after the BoE decision and was broadly steady overnight. GBP/USD dropped below 1.35 for the first time in over a month, while GBP/EUR declined below 1.17. Brent crude fell below $81 after OPEC+ decided to increase supply.G10 FX Options Expiries for 10AM New York Cut(Hedging effect can often draw spot toward strikes pre expiry if nearby (P) Puts (C) Calls )EUR/USD: 1.1500 (576M), 1.1540 (524M), 1.1555-60 (1.37BLN)1.1575 (725M), 1.1600 (677M), 1.1640-50 (722M)EUR/CHF: 1.0575 (625M), 1.0700 (600M), 1.0880 (1.3BLN)1.0920 (1BLN)GBP/USD: 1.3600-05 (274M). EUR/GBP: 0.8440 (1BLN)0.8525 (710M), 0.8550-60 (1.43BLN)AUD/USD:0.7400 (345M), 0.7415 (425M), 0.7440-50 (342M)0.7470-75 (442M), 0.7500 (516M)USD/CAD: 1.2375 (565M), 1.2395-1.2400 (547M)1.2500-05 (1.32BLN), 1.2520-25 (410M)USD/JPY: 113.70-75 (2.0BLN), 114.25 (860M), 114.50 (965M)115.00 (916M)Technical & Trade ViewsEURUSD Bias: Bearish below 1.17 Bullish above Edges lower in quiet session ahead US jobs EUR/USD opened -0.50% at 1.1555 after GBP/USD collapse weighed It traded in a 1.1542/56 range and is at session low into the afternoon EUR/USD support is at the Oct 12 trend low at 1.1522 with bids just ahead Resistance at 1.1595 where the 10 and 21-day MAs converge EUR/USD likely to consolidate ahead of the US non-farm payrolls today Reuters poll shows +450 K expected on jobs, but whisper number is higherGBPUSD Bias: Bearish below 1.37 Bullish above. GBP/USD pivots 1.35 after Thursday's tumble on BoE surprise Cable pivots 1.35 after biggest one-day fall since March 2020 on Thursday Fall was fuelled by BoE unexpectedly keeping Bank Rate at 0.1% at 1200 GMT Money markets had priced in a 15 bps hike 1.3472 was Thursday's five-week low, courtesy of BoE's dovish surprise GBP/USD was at 1.3652 into BoE MPA. U.S. Oct NFP data due 1230 GMT, 450k f/c More France-UK talks on fishing scheduled for next week.USDJPY Bias: Bullish above 112.50 Bearish below USD/JPY pushes up to 113.85 EBS into Tokyo fix, off later to 113.56 Market heavy from ahead of 114.00, mix of Japanese exporters, specs up top Bidding interest still towards 113.50, demand seen trailing down Low yesterday 113.51, low Tuesday 113.46, 113.26 low on October 28 Massive, $2.3 bln in option expiries between 113.50-80 contain action Yield on US Treasury 10s up from o/n lows, high 1.553%, now @1.541% Tokyo risk off, Nikkei -0.7% @29,599, E-Minis around par @4672.75 JPY crosses off post-Tokyo fix too, EUR/JPY 131.54 to 131.15, low o/n 131.02 GBP/JPY 153.09-78, heavy post-BoE, AUD/JPY 84.34 to 83.78, on back-foot Eyes on yields abroad, key US jobs report todayt, NFP +450k eyedAUDUSD Bias: Bearish below 0.75 Bullish above AUD/USD close to technical breaking point ahead of US NFP AUD/USD at breaking point, testing 100 DMA support again US nonfarm payrolls ahead may crack key technical floor Strong data above 450k could dilute Fed's dovish assurances AUD/USD Fri close below 100 DMA 0.7380 may trigger cave-in Below 100 DMA, Bollinger downtrend channel also engaged Base of downtrend channel 0.7332 is next support level

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/daily-market-outlook-november-5-2021"
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Wine of the week: snap up this soon-to-be legendary Californian pinot

This is the most beautifully thought through, carefully judged, respectfully oaked and finely tuned red wine.

from Moneyweek RSS Feed https://moneyweek.com/spending-it/wine/604051/wine-of-the-week-2018-littorai
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Three great new British hotels

From a playground for grown-ups in London to a converted factory in Manchester. Chris Carter reports

from Moneyweek RSS Feed https://moneyweek.com/spending-it/travel-and-holidays/604050/three-great-new-british-hotels
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Market Update – November 4 – NFP day

Receding fears of aggressive policy turns from the Fed and BoE saw shorts scramble to cover with yields plunging as the markets repriced policy outlooks. Although the FOMC announced tapering and the BoE warned of rate hikes down the road, the more patient stance taken by both banks wrongfooted bond bears and forced a repricing of rate expectations.

• USD up (USDIndex 94.40).
• Yields have backed up with 10-year Treasury yield at 1.53%, but bonds across the Asia-Pacific region still caught up with yesterday’s rally, and the JGB rate is down -1.1 bp at 0.06.
• Equities were mostly firmer Thursday as well, with the USA100, USA500, GER30, and CAC40 all at record highs. – The equity rally started to stall today. Hang Seng and CSI 300 are currently down -1.2 and -0.3% respectively, JPN225 has lost -0.7%.
• China’s rising Covid-19 case numbers and problems in the country’s property sector remained in focus as developer Kaisa Group Holdings Ltd. and its Hong Kong listed units were suspended from trading.
• The RBA’s quarterly policy statement, with updated projections sounded upbeat on the recovery, but cautious on wage growth, which backs official assertions that rates won’t rise for a long time to come.
• USOil down at $78 lows after dropping sharply yesterday in the wake of the OPEC+ agreement to stick with the gradual 400K barrels a day increase in production, which boosted speculation that countries will tap their strategic reserves to keep a lid on prices.
• Gold up at 1798 as the falling yields provided support.
• FX markets – USD steady at 94.40 highs,  AUD and NZD were under pressure, while the JPY strengthened, leaving USDJPY at 113.61. EURUSD at month’s low 1.1560 & GBPUSD stabilised at 1.3500.
• USDZAR – dipped early on Friday on elections results, after a volatile week during which it swung back and forth on domestic politics and US monetary policy. – ANC took 46% of the vote, its worst result since taking power at the end of white minority rule in 1994.

Today – The focus turns to the October employment report, where we expect non-farm payrolls to rise 380k versus the 194k in September. Hourly earnings should rise 0.4% after jumping 0.6% previously, while the average work week is seen dipping slightly to 34.7 from 34.8. The unemployment rate is penciled in at an unchanged 4.8%. September consumer credit is due late in the session.

For earnings, reports are due from Berkshire Hathaway, Toyota, Enbridge, Dominion Energy, Johnson Controls, Honda, Sempra, TELUS, Magna International, Ventas, and DraftKings. Next week the refunding auctions are on tap with $120 bln in 3-, 10-, and 30-year paper for sale.

Biggest Mover @ (06:30 GMT) NZDJPY (-0.28%) dips to 80.43. Faster MAs flattened, MACD signal line & histogram clash but are sharply negative, RSI 38 and neutral, all indicating consolidation for now. H1 ATR 0.133, Daily ATR 0.819.

Click here to access our Economic Calendar

Andria Pichidi

Market Analyst

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

from HF Analysis /284997/
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Dollar Consolidates After Strong Gains; Nonfarm Payrolls Due

from Forex News https://www.investing.com/news/forex-news/dollar-consolidates-after-strong-gains-nonfarm-payrolls-due-2669307
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Dollar Down, but Set for Weekly Gain as Investors Await U.S. Jobs Report

from Forex News https://www.investing.com/news/forex-news/dollar-down-but-set-for-weekly-gain-as-investors-await-us-jobs-report-2669208
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Kaisa and Major Units Suspend Trading After Missed Payments

from Forex News https://www.investing.com/news/forex-news/kaisa-and-major-units-suspend-trading-after-missed-payments-2669157
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Dollar in driver's seat as payrolls loom; sterling battered

from Forex News https://www.investing.com/news/economy/dollar-in-drivers-seat-as-payrolls-loom-sterling-battered-2669105
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New York Mayor-elect Eric Adams says he will take his first paychecks in Bitcoin

from Forex News https://www.investing.com/news/forex-news/new-york-mayorelect-eric-adams-says-he-will-take-his-first-paychecks-in-bitcoin-2668551
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