Oil continued its price move higher during the Asian session. There was no fresh catalyst, the forces of:demand risingsupply being held backinventories fallingcarried on supporting the price. The data focus during the session was on Australian retail sales for August,...
ECB’s de Cos will speak on Thursday – topic is the future of globalization
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,...
Two Bank of England speakers on the agenda Thursday, 28 September
Neither of these look like the venue for much on monetary policy outlooks - but perhaps in any Q&A?05:30 US Eastern time (0930 GMT) Speech by Bank of England’s Executive Director for Markets Andrew Hauser at Market News International Connect Event ‘A journey of...
The yield on the 10 year JGB has hit its highest since September 2013
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,...
Japan finance minister Suzuki says its important for currencies to move in stable manner
More verbal waffle JPY intervention from Japan.Suzuki declined to comment when asked about the prospects of a 'rate check'.What's a 'rate check'? Glad you asked, here you go:This is when the Bank of Japan contacts FX dealers at banks and asks for a dealing level in...
Australian August retail sales +0.2% m/m (vs. expected +0.3%)
Australian retail sales data for August 2023 come in at +0.2% m/m, a miss expected +0.3%, prior +0.5%The Reserve Bank of Australia began an an aggressive rate hike campaign in May 2022 and have only just relented in the past 3 months. Higher rates have played a part...
PBOC sets USD/ CNY reference rate for today at 7.1798 (vs. estimate at 7.3239)
The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.CNH is the offshore yuan. USD /CNH has no restrictions on its trading...
Brent – Oil on a rip higher in Asia trade
Oil is priced in US dollars, which has been on the rise for weeks, which makes oil's super-strong performance even more impressive.Its on the rise again in Asia following a solid performance on Wednesday:There is no fresh news catalyst spurring on the rise. The...
Trading in shares of troubled Chinese property developer Evergrande suspended in HK
Hong Kong exchange says trading of shares in the firm has been suspended. Comes after reports that its chairman had been placed under police surveillance.Suspended:EvergrandeEvergrande Property ServicesEvergrande New Energy VehicleErrr, Tom, there is noneMoneyMaker FX...
China’s PMIs for September will be released during the long holiday over the weekend
China's begins its 10-day holiday tomorrow. Friday, 29 September is the first day off and the break continues all next week: However, coming up this weekend are the official PMIs for September:Both the manufacturing and non-manufacturing are expected to show...
PBOC is expected to set the USD/CNY reference rate at 7.3239 – Reuters estimate
People's Bank of China USD/CNY reference rate is due around 0115 GMT.The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate...
New Zealand data – September business confidence improves from August
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,...
BOJ intervention to support the JPY could get a boost from ‘risk off’ sentiment
Comments on wariness over Bank of Japan intervention via Mizuho:It would be unwise to project the BoJ’s restraint on premature tightening as a green light for aggressively shorting the JPY. Intervention risks are clear and presentthe MoF is intent on keeping...
UK car output fell y/y in August, snapping a six-month growth streak
UK car output slipped in August from a year earlier, snapping a six-month growth streak-9.7% y/y in August according to data from the Society of Motor Manufacturers and Traders (SMMT)The lower result is attributed to manufacturers pausing production to prepare for a...
In-house data shows Australian retail sales for August is likely to disappoint – preview
Australian retail sales date for August is due today. Earlier post:Via CBA, citing their proprietary data for their lower-than-consensus estimate:Retail trade rose by 0.5% in July, buoyed by spending around the FIFA Women’s World Cup, and following a 0.7% decline in...
There’s a wide range of estimates for the Australian data due today – surprise incoming?
Australian retail sales data for August is due today at 0130 GMT, which is 8.30pm US Eastern time:While the consensus is +0.3%, the range of estimates is wide at:-0.1% to +1.0% While the screenshot highlights the data as of high importance I'm not sure the release...
Bank of America, higher US rates still to come?
This summary is via the folks at eFX. For bank trade ideas, check out eFX Plus. Key Takeaways: 1. US Treasuries as an Attractive Option: BofA regards US Treasuries (USTs) as a growingly enticing alternative to risk assets. The bank believes U.S. interest rates will...
South Korean automakers Hyundai and Kia are recalling 3.3 million vehicles in the US
That's A LOT of cars! Hyundai and Kia are recalling a combined 3.37 million vehicles in the United States due to the risk of engine fires:say that internal brake fluid leaks can cause an electrical short that could lead to a fireThe US National Highway Traffic Safety...
Fed’s Bowman speaking in New Zealand – no comments on economy nor monetary policy
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,...
White House enumerates 4 headwinds for the US economy
Chair of the Council of Economic Advisers, i.e. the White House economic adviser, Jared Bernstein: US economy facing headwinds from:possible shutdown, student debt restart, higher interest rates, UAW strike--US economy expected to keep going in 'a pretty good way'...