Remarks by China premier, Li Keqiang, via state media
This just reaffirms that local authorities will provide the necessary support in managing economic activity amid the power crunch that is impacting the country. Nothing new to the language so that’s the main takeaway, if anything else.

Dollar only seen trading weaker against the yen
Outside of that, the greenback is keeping a slight advance with EUR/USD lingering around 1.1590 levels as the pair holds below its key hourly moving averages @ 1.1608-16 with large expiries seen expiring later today at 1.1585.

USD/JPY weighed down by lower bond yields on the day
The pair is down 0.4% to 113.50 levels currently but is still holding above recent support around 113.40 with the low last week seen at 113.25.

A jump in supplier delivery times was a key detail across the manufacturing PMI reports in Europe today
The German report especially underscored the issue this has on the headline PMI reading:

Forex news from the European trading session – 1 November 2021
Headlines:
Markets:
– NZD leads, GBP lags on the day
– European equities higher; S&P 500 futures up 0.4%

Remarks by US Treasury secretary, Janet Yellen

The market has been bullying central banks again as of late, so will policymakers fight back this time around?
The key ones to look out for this week are the RBA, Fed, and BOE meetings. So, let’s cut right to the chase, shall we?

The new deadline is 3 December
There’s going to be a lot of hooblah on this as per the usual but at the end of the day, the can is just going to be kicked down the road again.

WTI trades back up to above $84 on the day
The $85 mark still poses a modest resistance point on the daily chart but the fundamentals continue to look solid for oil as we look towards next year.

November forex seasonals
November is an interesting month for seasonals because there are a few strong trends and some that often interrupted.
Cable is an interesting example. One the face of it, the 0.42% average decline over the past 20 years is unremarkable but when you strip out the past two US Presidential elections (2020 and