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A former JPMorgan gold trader was sentenced to serve six months in prison on Friday. A Chicago judge handed down the sentence in relation to the placement of deceptive orders between 2008 and 2010. As background, poofing involves placing large buy or sell orders with...

The Rightmove House Price Index is a gauge of asking prices for UK homes.It picked up in September to +0.4% m/mprior -1.9%for the y/y -0.4%prior -0.1%Comments from the report for the month in summary:BoE's 14 consecutive interest rate rises contributed to unusually...

The strike by the US United Auto Workers is ongoing. The latest is that the union is rejecting an offer from one of the Big Three automakers, Chrysler parent Stellantis, for a 21% wage increase:a cumulative 21% wage increasewith an immediate 10% increase upon a formal...

Summary comments from ANZ on oil, saying that conditions are in place for even higher prices into year end and 2024.On the supply side:Production cuts, led by Saudi Arabia, stabilised the market in July but are now likely to push the market into a 2mb/d deficit in Q4....

The BNZ – BusinessNZ Performance of Services Index (PSI) for August 2023 comes in at 47.1, back to levels last seen in January 2022prior 48.0third consecutive drop in activity levelslong-term average is 53.5 BusinessNZ chief executive Kirk Hope:August result showed...

Evergrande is one of China's massively indebted property developer firms in the maelstrom of a property market crisis that is dragging on China’s economic growth. The group is undergoing a restructuring plan, including offloading assets, to avoid defaulting on $340...

Property development firms in China borrowed in US dollars and thus the slide in the yuan against the dollar has increased these firms debt repayments. Nikkei Asia calculate mainland Chinese property developers registered close to us$3 billion in foreign exchange...

The Prime Minister of France Elisabeth Borne spoke in interview and dropped the news in that the government plans to allow gas stations to sell fuel at a loss. A 1963 law prohibits this but that law will be overridden for a period a limited period of a “few months.”...

Japanese markets are closed for a holiday today.This will sap some liquidity for FX markets and also shut cash US Treasury trade. Apart from that, it's a thin calendar also, will little here to move around major forex rates: This snapshot from the ForexLive economic...

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,...

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 rates,...

UPCOMING EVENTS:Monday: NZ Services PMI, US NAHB Housing Market Index.Tuesday: RBA Meeting Minutes, Canada CPI, US Building Permits and Housing Starts.Wednesday: PBoC LPR, UK CPI, BoC Summary of Deliberations, FOMC Policy Decision.Thursday: NZ GDP, SNB Policy...