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,...
PBOC sets USD/ CNY central rate at 7.1724 (vs. estimate at 7.2474)
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...
Australian employment surges in October, boosted by part-time jobs. AUD/USD a touch lower.
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 – Former JPY intervention official says it would be ineffective to prop up yen
Rintaro Tamaki was Vice-Minister of Finance for International Affairs at the Ministry of Finance from 2009 - 2011. This meant he had responsibility for yen intervention. While in office, Tamaki intervened in the market after the March 2011 earthquake and tsunami...
Australian October employment +55K, smashing the +20K estimate
The bulk in the +55K gain in jobs was part-time, which will take some of the heat out the headline.Nevertheless it points to still strong demand for labour and keeps wage pressures on the simmer. Unemployment rate 3.7% as expected, despite a higher participation...
China’s Xi says he has no plans for China military action against Taiwan in coming years
A senior US official with the US readout of the Biden - Xi meeting.On Taiwan, as noted in the bullets below, "the biggest, most dangerous issue in US-China relations". The no plans for military action is a welcome comment indeed. The last thing we all want to see is...
Japanese exports to China fell for the 11th consecutive month
Japanese trade data and machine orders are mixed. USD/JPY is unmoved upon the release though.A Japanese official noted that the country's exports to China fell for the 11th consecutive month.Core machinery orders data is a highly volatile series used as a leading...
China’s Xi says the US should stop arming Taiwan (Chinese Communist Party State media)
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,...
Brent crude oil and “green shoots of hope” in China
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,...
Moody’s on recession risk and Federal Reserve rate cuts next year
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,...
Employment growth in Australia softens, labour market turning point approaching – preview
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,...
Unveiling the truth: US inflation rates misleading, Fed failings exposed
A summary of UBS analysis of US inflation its lower than you think, and its not sticky and the markets' outsized reaction its reflects Fed failingsUBS argue that the reality of inflation in the US is that middle-income homeowning US households face a lower inflation...
Forexlive Americas FX news wrap 15 Nov: US PPI lower than expectations, but yields are up
The US retail sales data was a bit higher than expectations at -0.1% versus -0.3% estimate. There were also positive revisions for the prior month. Although negative, the retail sales had been up for 5 consecutive months prior to this month's decline. The fall is not...
Federal Reserve’s rate cut speculations boost US equities, Deutsche Bank offers caution
US equities continued their climb on Wednesday, spurred on her again by thoughts of Federal Reserve pivot to rate cuts in 2024 (pricing for cuts in May is surging.)Deutsche Bank analysts are wary, pointing out that:this is at least the 7th time in this cycle that...
Fed Reserve’s Barkin hints at normalizing rates amid credit pullback
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,...
US stock indices close higher but off their highs for the day
The major US indices are closing the day higher. However, the broader indices in particular are well off their intraday highs:Dow Industrial Average rose 163.51 points or 0.47% at 34991.22. At session highs, the index was up 223.39 points.S&P index rose 7.18...
Palo Alto Network and Cisco earnings after the close
Palo Alto Networks and Cisco will report earnings after the close. For Palo Alto earnings estimates : Last quarter, Palo Alto Networks reported revenues of $1.95 billion, which was a 26% year-on-year increase but slightly below analyst expectations.For the current...
Asian Economic Calendar: Key Events and Consensus Expectations for 16 November 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,...
Trade ideas thread – Thursday, 16 November 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,...
Where do unemployment and CPI have to be for the Fed to start cutting
The Federal Reserve has two mandates: Low/stable inflation and maximum employment.Today, Deutsche Bank looks at the core consumer price index and unemployment rate in the historical context of where rate cuts have begun in the past.The bulk of cuts didn't get underway...