Japanese Prime Minister Fumio Kishida spoke in a TV interview on Tuesday, rsisting the urge to to jawbone USD/JPY lower. He was asked in a television about the yen’s recent decline to around 150 against the US dollar and answered in very generic terms: “While it’s up...
Reserve Bank of Australia Governor Bullock will be appearing in parliament after CPI data
Following the Australian official inflation data due today Reserve Bank of Australia Governor Bullock and Assistant Governor (Financial Markets) Christopher Kent, will appear before the Senate Economics Legislation Committee (Supplementary Budget Estimates) on...
Preview: Australian official Q3 CPI data is due today, could cause the RBA some discomfort
Q3 CPI from Australia is due at 11.30am local time:0030 GMT2030 US Eastern timeMonthly inflation for September will also be released at the same time.The CPI data is always keenly awaited, even most so today given this from the latest RBA meeting minutes:“the Board...
China’s Xi visited the People’s Bank of China and FX regulator
Chinese Communist Party Chairman Xi along with Vice Premier He Lifeng and other government officials, visited the People's Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE) in Beijing on Tuesday.Reuters carried the info, citing unnamed...
Blackrock spot BTC ETF ticker has reappeared on the DTCC list
The BTC ETF from BlackRock (BlackRock's iShares Spot Bitcoin ETF) had been listed on the Depository Trust & Clearing Corporation (DTCC ) directory earlier in the week but disappeared from it on Tuesday.Its disappearance was noted widely on social and crypto...
ICYMI – China will issue an additional 1 trillion yuan ($137 bn) in treasury bonds in Q4
I posted on this yesterday:And more detail:And the stimulus doesn't stop there, also from yesterday:Resulting in:Confirming now that 1 trillion yuan bond issuance was approved by the sixth session of the Standing Committee of the 14th National People's Congress...
The Bank of Japan’s own inflation measure has hit 2%. This is the BOJ target.
The Bank of Japan produce their own data on inflation rates in the country. The key rate the Bank watches is the 'Weighted Median' y/y. It has hit 2% in the latest data, for September 2023, from 1.8% in August.this data point is used by the BOJ as a measure of broad...
US media say 24 US military personnel wounded in drone attacks in Iraq & Syria last week
NBC report on wounded US military personnel, citing information received from U.S. Central Command20 US personnel sustained minor injuries on Octoner 18 when at least two one-way attack drones targeted al-Tanf military base in southern Syria1 of the drones was shot...
JPMorgan CEO Dimon said central banks got forecasts “100% dead wrong”
Dimon was speaking as part of a panel at the Future Investment Initiative summit in Riyadh, Saudi Arabia.He said global central banks got financial forecasting “100% dead wrong” about 18 months ago. This means they should have some humility about the outlook for next...
Preview of Australian Q3 CPI data due today – risks skewed to the upside
Commonwealth Bank of Australia forecast for today's Q3 Australian inflation report.the data is due at 0030 GMT (2030 US Eastern time)In brief:We forecast headline CPI rose by 0.9% in Q3 23 ( 5.1%/yr)Trimmed mean CPI is expected to have increased by 1.0%/qtr...
Oil – private survey of inventory shows a large headline draw vs. small build expected
This is from the privately surveyed oil stock data ahead of official government data tomorrow morning out of the US.--Expectations I had seen centred on:Headline crude +0.2mn barrelsDistillates -1.2 mn bblsGasoline -0.9 mn--This data point is from a privately...
Visa touts a resilient consumer
The consumer is doing just fine.Here is what Visa CEO Ryan McInerney said in the earnings release:"We reported another quarter of strong results, reflecting stable business trends. Consumer spending remained resilient, driving growth in payments volume and processed...
Forexlive Americas FX news wrap: US dollar reasserts itself
Markets:Gold down $1 to $1971US 10-year yields down 2 bps to 4.81%WTI crude oil down $1.75 to $83.75S&P 500 up 0.7%AUD leads, EUR lagsThe euro and sterling charts are a mirror image of yesterday as the dollar rebouned on rising yields and soft eurozone PMIs....
Major indices close higher. NASDAQ up for the 2nd consecutive day.S&P snaps five-day slide
The major US stock indices are all closing higher. The gains are led by the NASDAQ index which is up around 1%. The NASDAQ index has risen for 2 consecutive days. The S&P index snapped a 5-day skid. The Dow industrial average broke its 4-day slide.A snapshot of...
Economic calendar in Asia Wednesday, 25 October 2023 – Australian Q3 inflation data
The eagerly awaited Q3 CPI from Australia is due at 11.30am local time:0030 GMT 2030 US Eastern timeHigher than expected CPI will fuel the potential from a Reserve Bank of Australia rate hike at its next meeting on 7 November. Australia's employment market is solid...
Trade ideas thread – Wednesday, 25 October 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,...
FXGT.com’s 20K JPY No Deposit Bonus Is Live
FXGT.com has added to its promotional lineup with the launch of a brand new No Deposit Bonus. From today until Monday 30th October 2023 at 11:00 (GMT +3), traders can claim a bonus, upon successful completion of their account verification process.To be eligible for...
Stimulus boosts Chinese stocks, eyes on the upcoming session
KWEB dailyShares of US-listed Chinese ETFs are as much as 4.4% higher today after a broad stimulus push from Beijing.Chinese President Xi Jinping visited the central bank and largest sovereign wealth fund today for the first time. It came with the approval of a boost...
Crude oil lower for the 3rd consecutive day
The price of crude oil fell for the 3rd consecutive day. Today the settlement price for the day came in at $83.74 down $-1.75 or -2.05%. That decline comes on the back of a fall of -2.94% yesterday and a fall of -0.33% on Friday. The price action is volatile as market...
The stakes are remarkably high as forecasts for 2030 oil demand diverge wildly
The IEA was out with its annual energy outlook today, in what's always a big event for oil market.I want to focus on 2030 estimates and how they wildly diverge -- just over six years from now. That's hardly time to build out the infrastructure for either a world of...