The USD/JPY uptrend since Friday’s BOJ statement extended a little further again here today, with USD/JPY tracking to a high circa 142.80. There was really no new catalyst, but comments from both the Japanese Economic Minister Goto and Finance Minister Suzuki saying...
UBS have eyes on China’s Caixin Services PMI for Politburo stimulus action
So far the July PMIs from China have been disappointing:Heading into this week UBS highlighted the Caixin Service PMI as one to watch. Asking, Will Chinese services activity services data help bring forward stimulus?And answering:The nation’s Politburo hinted at the...
Fed’s Goolsbee speaking again on Tuesday, 1 August 2023
Federal Reserve Bank of Chicago President Austan Goolsbee spoke on Monday:On the agenda for today, at 1400 GMT, 10am US Eastern time the Federal Reserve Bank of Chicago releases pre-recorded welcome remarks of Goolsbee before the Federal Reserve Bank of Chicago...
Japan fin min Suzuki: Will closely monitor FX market moves
Japan finance minister Suzuki with comments aimed at slowing the rapidly dropping yen. Will closely monitor fx market moves, which have seen changes in environmentFx should move stably reflecting fundamentalsBOJ's Friday decision would increase monetary easing more...
China’s Caixin Manufacturing PMI dropped into contraction July – stimulus hope remains
The data post is here:Yesterday we had the official PMIs, manufacturing also in contraction on that measure:AUD/USD dipped a little further on the session, the thing about weaker data from China is that thoughts turn to the possibility of more stimulus. This seems to...
China June 2023 Caixin / S&P Global Manufacturing PMI 49.2 (prior 50.5)
China July Caixin Manufacturing PMI comes in at 49.2, slipping into contraction for the first time in 3 months expected 50.3 prior 50.5Comments from the report, in brief:Both manufacturing supply and demand contracted. new export orders fell sharply in July, the...
Japan eco min says the BOJ YCC decision intended to help sustainability of easing
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China’s state planner has issued a statement to extend loans to the private sector
The National Development and Reform Commission of the People's Republic of China (NDRC) is the state planner.Says will extend loan support tools for small and micro firms until the end of 2024More words. Markets/traders want to see specific stimulus measures....
Australian housing finance data for June, home loans value -1% (expected +1.8%)
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,...
Australian June Building Permits -7.7% m/m (expected -8.0%)
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 7.1283 (vs. estimate at 7.1495)
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...
Russian state media reporting of a drone strike on a high rise building in Moscow
Moscow has been hit by drone attacks in recent nights and further reports of more now.Via TASS (Russian state media outlet). The invasion of Ukraine spilling into war in Russia.Added:Moscow's Vnukovo airport is temporarily closed, emergency services says (via TASS...
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PBOC is expected to set the USD/CNY reference rate at 7.1495 – Reuters estimate
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). The PBOC follows a managed floating exchange rate...
Japan Jibun Final July Manufacturing PMI 49.6 (prior 49.8)
Flash reading for the Japan S&P Global / Jibun Bank PMIs for July 2023:From the report, in brief:headline PMI slipped slightly further into contraction territory, largely because of a quicker deterioration in new order inflows, although the decline in production...
Goldman Sachs has revised its global oil demand forecast, but left price target unchanged
Goldman revised its global oil demand forecast for the year higher based on a less pessimistic growth outlookmaintained its 12-month Brent price projection of $93/bblarguing that higher realized inventories offset the demand boostMore:GS estimate global oil demand...
South Korean July exports and imports both slump more than expected
Trade data (preliminary) from South Korea for July 2023. Exports -16.5% y/y, biggest drop in 3 yearsexpected -15.0%, prior -6.0%Imports -25.4% y/yexpected -25.0%, prior -11.7%Trade balance is a surplus of 1.63bn USDexpected 2.53bn USD, prior 1.13bn USDMoneyMaker FX EA...
Australian weekly consumer confidence 78.4 (prior 75.2)
The ANZ - Roy Morgan consumer confidence survey is conducted weekly. Its hit a 3-month high and in the bigger picture is barely above a 3-year low. Comments from ANZ:rose back to its late-April levelMajor gains in the ‘future financial conditions’ ahead of an expected...
Japan June Unemployment rate 2.5% (vs. expected 2.5%)
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UK inflation data – July BRC Shop Price Index +7.6% y/y (prior +8.4%)
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