Copper continued to trade within a symmetrical triangle for months as the uncertainty on the global economy kept both buyers and sellers at bay. The recent more hawkish than expected FOMC dot plot might have given the market a wakeup call that the central banks will...
France prioritises inflation fight with 2024 budget bill
And that is largely to help households counteract inflation pressures while at the same time trying to rein in public finances, as announced by French finance minister, Bruno Le Maire. He warned that as price caps on gas and power prices are slowly being unwound, the...
GBPJPY Technical Analysis – Lower prices expected
UK:The BoE kept interest rates unchanged. The central bank is leaning more towards keeping interest rates “higher for longer” but it kept a door open for further tightening if inflationary pressures were to be more persistent. Key economic data like the latest...
Dollar keeps steadier so far on the session
Even as equities are finding a bit of a reprieve, currency traders are not really buying it. 10-year Treasury yields are down 2.7 bps on the day to 4.509% now and that is helping to give stocks a light breather. If anything, it could prove temporary and I reckon that...
USDCHF Technical Analysis – The bullish momentum is waning
US:The Fed left interest rates unchanged as expected.The macroeconomic projections were revised higher as the economy showed much stronger resilience than expected and the Dot Plot showed that the majority of members still expects another rate hike by the end of the...
Market Update – September 27 – Temporary Optimism?
Chinese indexes stabilised after a 2-day decline amid fresh optimism that official measures will be able to boost the recovery. Industrial profits improved for the first time in a year and the People’s Bank of China said it would step up policy adjustment and...
Eurozone August M3 money supply -1.3% vs -1.0% y/y expected
Prior -0.4%Broad money growth in the euro area declines further as financial conditions continue to tighten and rather quickly I might add in the last few months. A credit crunch is something the ECB wants to avoid but considering the circumstances, they might have to...
Switzerland September Credit Suisse investor sentiment -27.6 vs -38.6 prior
Prior -38.6Swiss investor sentiment improved this month but is still sitting in a rather uneasy territory. UBS notes that that the barometer now shows that sentiment is "steadying at a level that historically suggests an economic slowdown, but not a...
Most Crucial Economic Events in the Second Half of 2023 – Part 2
With the global economy weakening, you may wonder what will impact capital markets in the second half of 2023. Will the food crisis worsen again? What factors will influence European currency this winter? What will be the key themes of the year ahead? Several vital...
ECB’s Elderson: Interest rates have not necessarily peaked
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,...
China can still achieve economic growth of above 5% this year – PBOC advisor
China economy can avoid 'Japanification'If the headline figure is the official tagline, then you can expect China to somehow "achieve" that as they always do. But how they do so and the details are something that will always be in the shadows. As for whether or not...
France September consumer confidence 83 vs 84 expected
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,...
NZDUSD Technical Analysis – Key support in sight
US:The Fed left interest rates unchanged as expected.The macroeconomic projections were revised higher as the economy showed much stronger resilience than expected and the Dot Plot showed that the majority of members still expects another rate hike by the end of the...
Germany October GfK consumer sentiment -26.5 vs -26.0 expected
Prior -25.5; revised to -25.6German consumer morale remains in the doldrums as households are pulling back on spending amid high inflation. GfK says that "the chances of a recovery in consumer sentiment are likely to have fallen to zero before the end of the...
FX option expiries for 27 September 10am New York cut
There are a couple of large ones to take note of, as highlighted in bold.The first being for EUR/USD near the 1.0600 mark, similar to yesterday. That should keep a lid on price action in any push higher amid an extension of the ranges for today. Sellers remain in...
Rising Australian inflation, “its not safe to conclude that the RBA rate cycle has peaked”
The data released earlier is here:ING's response (in brief):Australia: Inflation back on the rise While this is mostly down to less helpful base effects, international energy prices and excise duty hikes, it is not safe to conclude that the RBA rate cycle has peakedWe...
China has placed the Chairman of troubled property firm Evergrande ‘under police control’
Bloomberg with the info citing unnamed sources.Details are sparse:China Evergrande's billionaire chairman and founder Hui Ka Yan has been placed under police control. Sources say he was taken away earlier this month and is being monitored at a designated locationThe...
ForexLive Asia-Pacific FX news wrap: PBOC steps up yuan intervention
The People’s Bank of China is continuing to hold the CNY (and therefore the CNH also) from falling in value further. The Bank set the USD/CNY reference rate on the 7.17 big figure again today. The modelled estimate for the mid-rate was above 7.31 but yet again the...
Goldman Sachs is warning that multiple US government shut downs are possible
Goldman Sachs says they expect any imminent shutdown to last only 2 to 3 weeks .However, "more than one shutdown is possible":the two parties are far apart on spending proposalsany agreement to reopen the government after the likely shutdown is likely to expire before...
If you are eyeing the European Central Bank meeting today, it’s a non-policy meeting
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,...