Ueda is speaking in Osaka. Headlines via Reuters: Japan's economy recovering moderatelyOur basic stance is that we must patiently maintain monetary easingCurrent policy framework has big stimulative effect on economy, but at times could cause big side-effectsBOJ's...
Beijing-based developer China Oceanwide Holdings declared bankrupt in Bermuda
China Oceanwide Holdings is a Beijing-based private developer with projects in Los Angeles, New York, San Francisco and Hawaii and more. The company is to be wound up by a court in Bermuda. Hong Kong-listed shares in the firm were suspended from Monday morning due to...
Singapore August inflation data: Headline CPI +4.0% y/y (expected was also +4.0%)
Headline CPI for August 2023 +4.0% y/yexpected +4%, prior +4.1%The Core rate rose 3.4% y/y in August expected +3.5%, prior +3.8%Data comes via the Monetary Authority of Singapore (MAS), Singapore's central bank, and the SG Ministry of Trade:"Global supply chain...
FT reports that a senior Nomura banker has been banned from leaving mainland China
Financial Times (gated) citing unnamed sources for the information that a senior Nomura banker has been banned from leaving mainland China.The report (gated) says the ban is connected to a long-running investigation into the country’s top tech dealmaker Bao Fan,...
FX option expiries for 25 September at the 10am New York cut
EUR/USD 1.0725 in the amount of EU919.5mn, 1.0540 in the amount of EU695mnUSD/JPY 149.00 in the amount of $643mn,147.00 in the amount of $1.24bn GBP/USD 1.2275 in the amount of GBP545mn, 1.2336 in the amount of GBP385mnAUD/USD 0.6485 in the amount of AUD340.6mn,0.6400...
Trade ideas thread – Monday, 25 September 2023 – Europe / UK session
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,...
Economic calendar in Europe for Monday, 25 September 2023 is very light, IFO index focus
It's a light data agenda ahead to open the week in Europe: This snapshot from the ForexLive economic data calendar, access it here. The times in the left-most column are GMT. The numbers in the right-most column are the 'prior' (previous month/quarter as the case may...
Forexlive Asia-Pacific FX news wrap: China property worries return
Markets:Gold down $2 to $1923WTI crude oil up $0.11 to $90.14S&P 500 futures up 11 pointsNikkei 225 down 0.5%JPY leads, AUD lagsThe new week has started off with a modest risk-off tone that's ramped up in the past hour or so. AUD/USD has slid down to 0.6427 from...
Heads up – Bank of Japan Governor Ueda will be holding a news conference soon
Bank of Japan Governor Kazuo Ueda is to meet business leaders in Osaka, western Japan today. He'll be holding a news conferenceThis is coming up at 0530 GMT, which is 0130 US Eastern time.On Friday last week we had the latest policy statement from the Bank of Japan,...
Three freight indicators that point to a cycle bottom
As we approach the end of Q3, there are signs of stability in shipping. CIBC highlights three indicators released in the past week that point to a potential floor in the beaten-up freight sector.1) The American Trucking Associations' (ATA) Report: The Truck Tonnage...
Chinese stocks skid as Evergrande’s debt restructuring goes off the rails
Shares of Evergrande are down 20% and broader Chinese real estate stocks are down 2.5% after the embattled real estate group offered signs that its restructuring plan was failing.Evergrande Group said it "is unable to meet the qualifications for the issuance of new...
PBOC delivers a firmer-than-expected yuan fix
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,...
Agreement near for Hollywood writers — report
NBC reports that the two sides in the Hollywood writers' strike have reached an agreement but are 'haggling' over language. There is hope that an agreement could be announced later today.Language around using artificial intelligence is the main sticking point and that...
Bitcoin price stumbles to 10-day low as the new week gets underway
bitcoin hourly chartBitcoin is down 1.6% to start the new week.That's a negative sign for broad risk appetite, even if it's not yet shown up elsewhere. Bitcoin moves at time precede equity moves.By the same measure, bitcoin has previously held up strongly despite a...
Nikkei opens 0.35% higher
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,...
USD/JPY hugs the top of the range with eyes on intervention
USD/JPY weeklyUSD/JPY is up just 5 pips to start the new week at 148.41 but it's in focus after the BOJ decision on Friday. Governor Kazuo Ueda said they have yet to foresee inflation stably and sustainably at target. He urged patience despite signs of companies...
ECB’s Villeroy: “Patience is more important than raising rates further”
ECBs VilleroyBank of France President Francois Villeroy de Galhau emphasized that he is in no rush to raise rates further after hiking to 4.00% last week.“From today’s perspective, patience is more important than raising rates further,” he told Bloomberg.He was...
Italy continues to water down its bank windfall tax
At this point, you have to wonder why Italy even bothered with the bank windfall tax.Weekend reports indicate that the windfall tax on Italian banks -- which has already been watered down since it was introduced in August -- will be virtually scrapped. Rather than...
Germany’s housing market is cracking
Worries are intensifying about the German housing market, just as the ECB raises rates to a cycle high. Prices fell by the most in Q2 since records began, according to data released Friday. Building permits have also plunged to the lowest since 2015.That's running...
The US has seven days to avert a government shutdown
Eyes are on US House Republicans who are trying to pass a Republican-only bill to avoid a government shutdown when the calendar turns.House Speaker Kevin McCarthy will try to win approval of four larger bills, including funding for the military and homeland security,...