A cut to the one-year rate of 10bp vs. 15 that was widely expected. And no cut to the 5 year rate at all. Thats a shock. ---Background to this is here:---PBOC's Loan Prime Rate (LPR)It is an interest rate benchmark used in China, set by the People's Bank of China each...
Brent: China’s weak economy & property debt implosion is weighing, but oil use holding up
Chinese economic data has been disappointing. Last week we had:And the property sector is collapsing under the weight of debt, again:And yet, analysts have argued that China's oil-consumption figures have held up. An RBC commodity strategist note says:while Chinese...
Fed Chair Powell at Jackson Hole, BoA expect him to pushback against rate cut expectations
Federal Open Market Committee (FOMC) Chair Powell is speaking this week at the Kansas Fed's Jackson Hole symposium.GS is holding low expectations:Bank of America, on the other hand, are expecting more substantive comments from Powell. Economists at they bank say they...
PBOC is expected to set the USD/CNY reference rate at 7.2893 – Reuters estimate
As a reminder, also coming from the Bank today:---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)....
Goldman Sachs is not expecting a strong signal from Federal Reserve Chair Powell this week
Federal Reserve Chair Powell is speaking later this week at the Kansas Fed's Jackson Hole symposium. Goldman Sachs is not expecting a lot from Powell at Jackson Hole, saying any signals will most likely be held back until after the July PCE inflation and the nonfarm...
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MUFG stays short EUR/USD in its trade of the week – targeting a drop under 1.08
This is via the folks at eFX. For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. "We instigated this trade idea last week following the failure of EUR/USD to...
New Zealand July exports dropped on the month while imports rose
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,...
Wall Street Journal Fed insider Timiraos expects higher Fed ‘neutral’ rate ahead
Nick Timiraos in the Wall Street Journal over the weekend says to expect higher rates ahead. Despite the Federal Reserve’s raising interest rates to a 22-year high, the economy remains surprisingly resilient, with estimates putting third-quarter growth on pace to...
Previewing the week ahead in financial markets. TL;DR version is NVDA earnings vs. Powell
A couple of previews posted on ForexLive over the weekend of what's ahead:The two big events are, and I'm struggling to rank them by importance, so let me just do them chronologically:Nvidia earnings are due on Wednesday August 23 after the close of regular trading...
Goldman Sachs expect 15bp rate cuts from the People’s Bank of China today
The People's Bank of China will be cutting loan prime rates today, from earlier:Last week we had rate cuts from the People's Bank of China:ING expect 15bps:Goldman Sachs, too are 15bp cuts to the LPRs. Current LPR rates are:3.55% for the one year4.20% for the five...
ICYMI – Japan to boost the minimum wage, “largest increase” ever
The Bank of Japan is keen to see rising wages to help cement inflation at or above its 2% target. The latest data shows CPI well above 2%, and indeed underlying inflation more than double that, but the BOJ insists its transitory util wages rise. ICYMI, a subcommittee...
ICYMI – Nomura slashed their China GDP forecast for 2023 to 4.6% (from 5.1%)
Nomura revised its economic growth forecast for China this year to 4.6% from its previous projection at 5.1%Citing weak data for July (out last week) and warning of a an ongoing “downward spiral” in the economy. their growth forecast for 2024 remained unchanged at...
Weekend – the PBOC met with bank executives and told lenders, again, to boost loans
Representatives from the People's Bank of China and other Chinese financial market regulators met with bank executives over the weekend and instructed the lenders, once again, to boost loans to support an economic recovery. The good news is that they did this. The bad...
Economic calendar in Asia – People’s Bank of China rate decision due
I posted a heads-up to the PBOC decision last week. Its due around 0115 GMT, which is 9.15 pm US Eastern time. Last week we had rate cuts from the People's Bank of China:The MLF rate is a benchmark interest rate that banks in China can use to borrow funds from the...
Trade ideas thread – Monday, 21 August 2023
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,...
Monday morning open levels – indicative forex prices – 21 August 2023
Good morning/afternoon/evening and welcome to the new forex week!On a Monday morning, market liquidity is very thin until it improves as more Asian centres come online.Prices are liable to swing around on not too much at all, so take care out there.Indicative...
장기요양보험 납부한다면 미리 알아두세요! 요양보호사도 달라집니다!!
https://www.youtube.com/watch?v=VPKFRYyULPY 앞으로 장기요양보험 제도가 더 좋아진다고 합니다. 눈에 띄는 내용은 장기요양보험의 혜택을 받는 ‘가족’에 대한 지원을 늘린다고 하고요. 한국형 ‘유니트 케어’를 도입하고, 요양보호사 제도도 변경되는 등 상당히 많은 부분이 달라질 예정입니다. #장기요양보험 #건강보험 #노인복지 MoneyMaker FX EA Trading...
A review of the technicals driving the different currency pairs (and more)
> Technical Analysis > A review of the technicals driving the different currency pairs (and more) Technical Analysis For the week starting August 21, 2023 <!--> --> <!--> --> EURUSD, USDJPY and GBPUSDAUDUSD and NZDUSD:Crude OIl:Nasdaq index:...
장기요양보험이 확~ 달라집니다! 요양보호사도 좋아져요~
https://www.youtube.com/watch?v=VPKFRYyULPY 앞으로 장기요양보험 제도가 더 좋아진다고 합니다. 눈에 띄는 내용은 장기요양보험의 혜택을 받는 ‘가족’에 대한 지원을 늘린다고 하고요. 한국형 ‘유니트 케어’를 도입하고, 요양보호사 제도도 변경되는 등 상당히 많은 부분이 달라질 예정입니다. #장기요양보험 #건강보험 #노인복지 MoneyMaker FX EA Trading...