This week started like the last one with a broader rally in the markets as the risk sentiment got supported by another lack of a ground operation in Gaza over the weekend and the positive news about a couple of hostages being released. Yesterday, on the other hand, we...
FX option expiries for 26 October 10am New York cut
There are a couple to take note of on the day, as highlighted in bold.The first being for EUR/USD at 1.0540, although I would say the expiries may not factor into play all too much. They aren't associated with any technical significance, so it is just pretty much that...
ECB highlights the calendar in European trading today
And so the shackles are finally coming off for USD/JPY and that is likely to help underpin the dollar further this week. The surge higher in Treasury yields yesterday was another tailwind for the greenback, with 10-year yields now at 4.968% on the day and inching...
Japan PM Kishida: FX intervention not a contradiction of policy
Intervention does not contradict policy of shifting money away from savings towards investmentBOJ holds ETFs, JGBs as part of monetary policyIt is up to the BOJ to decide whether to sell its ETF holdingsThis is more on the semantics of their policy actions, not so...
Poll: BOJ set to put an end to negative rates in 2024
25 of 28 economists expect BOJ to keep policy steady next weekThe other 3 economists expect a start of easy policy unwinding63% of economists expect BOJ to end negative interest rates in 2024 (up from 52% in September, and 41% in August)The remainder expect the end of...
Tokyo finally getting rid of the shackles
The last time the pair traded at the highs we're seeing today was the day that the BOJ hammered down the pair back below the 150.00 mark in October last year. In case you need a refresher:And now after weeks on end in poking and prodding just under the figure level,...
ForexLive Asia-Pacific FX news wrap: USD solidly higher in Asia, USD/JPY well above 150.00
USD/JPY finally made a break for it above 150.00 in the US afternoon on Wednesday and that move extended to approach 150.50 during the Asia timezone. We had some ineffective jawboning out of Japan, from Finance Minister Suzuki and Deputy Chief Cabinet Secretary which...
The “50 cent betting big on the Japanese yen trade” story is not what you think it is
One, its not that 50 cent, or Fiddy Cent, or whatever you want to call him.And two, its not a short yen bet. I say that 'cause once the celebs jump on board its pretty much over. Anyway:Ruffer Investing, with the nickname "50 Cent," is betting big on the Japanese yen....
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The US dollar has soared higher during the Asian 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,...
Iran’s Foreign Minister has arrived in New York for talks on his Hamas terrorist attacks
Iran's Foreign Minister Hossein Amir-Abdallahian has arrived in the USA according to Iranian media, Iran International (English).This guy (that taller one), as did all of Iranian officialdom, helped Hamas in its brutal cowardly murdering of civilians in Israel. Now he...
Japan PM says no contradiction between BOJ inflation aims and his government
Japanese PM Kishida says Bank of Japan monetary policy aims to achieve sustainable inflation in tandem with wage hikes and does not contradict the government's inflation countermeasures.Righto then. -USD/JPY has been rocketed higher largely on enormous yield disparity...
Senior Japan official: ‘excessive’ FX volatility, FX should move stably with fundamentals
Japan Deputy Chief Cabinet Secretary Murai: Important for currencies to move stably reflecting fundamentalsExcessive FX volatility undesirableWon't comment on forex levelsNo comment on currency interventionWill continue to take fully appropriate steps on FXUSD/JPY...
USD/JPY makes a new session high above 150.40
USD/JPY finally busted above 150 during the US afternoon on Wednesday:In the twilight zone between NY close and Tokyo open it added to its gains:It tracked pretty much 150.10 - 150.30 for a few hours, with some very weak jawboning:Its now hitting circa 150.40 to be...
Failure to act on high CPI threatens to damage the Reserve Bank of Australia’s credibility
TD says the response to yesterday's inflation data in Australia needs to be an RBA rate hike. Q3 CPI data handily beat the RBA's and analyst forecastsAlong with the Q2 trimmed mean measure being revised up and strong signs of domestic inflation, there is now a clear...
European Central Bank meeting today – preview – hurdle for a rate hike is high
The European Central Bank policy decision is due Thursday, 26 October 2023:1215 GMT0815 US Eastern time European Central Bank President Lagarde's news conference follows a hal hour later (1245 & 0845)Preview comment via ANZ:Core inflation has improved...
PBOC sets USD/ CNY mid-point today at 7.1784 (vs. estimate at 7.3265)
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...
Japan Fin Min Suzuki says sticking to previous currency policy, closely watching FX moves
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 President Biden and Chinese Foreign Minister Wang Yi expected to meet on Friday
Reuters cite two US officials for the info. China's foreign minister will meet with Biden's national security adviser Jake Sullivan at the White House on Friday.A meeting with Biden may then follow. Reuters says that the White House declined to comment. The groundwork...
Australian Q3 Export prices -3.1% q/q (prior -8.5%)& Import prices +0.8% q/q (prior -0.8%)
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,...