Japan PPI Services (Corporate Services Price Index) +1.2% y/y expected 1.4%, prior +1.6%Yen is barely moved. - Japan Services Producer Price Index (PPI) measures the average change over time in the prices received by service providers (in the private sector) for their...
ANZ on higher oil prices – China demand expected higher, supplies tightening
ANZ on crude oil developments driving the price up:well supported by the broad risk-on tone across commodities sparked by the Politburo statementfurther signs of tightening supplies remain the key driver of the marketRussia’s seaborne crude exports from Baltic and...
Goldman Sachs preview the European Central Bank meeting & leave EURUSD forecast unchanged
Goldman Sachs expectations for the European Central Bank (ECB) at this week's meeting on Thursday. This summary is via the folks at eFX. For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109...
Australian CPI data due today, preview – expect another RBA rate hike next week
Australian inflation data is due today, both for Q2 and for the June month.Due at 11.30 am Sydney time0130 GMT, 9.30pm US Eastern timeI posted preview thoughts earlier here:This now from National Australia Bank, in brief:We expect Q2 CPI ... to show little sequential...
ICYMI – UBS expect China rate cuts, RRR cut, more cash injections in H2 2023
UBS in response to the stimulus signals that came from China's Communist Party Politburo:UBS are expecting the People’s Bank of China to potentially cutt policy rates by 10 basis points in H2 of this year:also expect the PBOC cut the reserve requirement ratio by...
ICYMI – Morgan Stanley raised its 2023 US GDP forecast to 1.3% (previously at 0.6%)
I posted last week on Morgan Stanley jacking their GDP forecast much higher:The forecast got another run overnight, with MS looking for 1.3% y/y (from 0.6%). Analysts at the bank say they expect a 'comfortable' soft-landing for the US economy.If you check out that...
TD expect lower USD after the Federal Open Market Committee (FOMC) meeting today, preview
TD is anticipating that the Fed will raise rates by 25 basis points, which will be the final increase. Even so, the analysts go on, the FOMC will likely continue to validate the dots while maintaining a hawkish tilt. It follows the tried-and-true "have your cake and...
Forexlive Americas FX news wrap 25 Jul: The USD was lower ahead of Fed decision tomorrow
The GBPUSD started the session lower and below the 50% midpoint of the range since the June 29 low at 1.2866. That level was also close to the falling 100-hour MA. The dual levels increased that levels importance.In the US afternoon session, the price moved above that...
Australian CPI data due today, preview – big undershoot needed to stop the RBA from hiking
Australian inflation data is due today, both for Q2 and for the June month.Due at 11.30 am Sydney time0130 GMT, 9.30pm US Eastern time I posted preview thoughts earlier here:This now from Commonwealth Bank of Australia, in (very) brief:our forecasts are for an...
Private oil survey data shows headline crude build vs. the draw that was expected
The inventory data from the private survey is out now, official data follows Wed. morning (US time).Via Twitter, or whatever its called today:--Expectations I had seen centred on:Headline crude -2.0 mn barrelsDistillates -0.1 mn bblsGasoline -2.0 mn--This data point...
Economic calendar in Asia: Australian CPI data will be eyed by the RBA (meeting next week)
Last week we had the latest data on the Australian employment market, continuing very strong indeed:Inflation in Australia is way above the Reserve Bank of Australia's target range b,t the Bank has paused (at least) in its rate hike cycle as it awaits more data input...
Trade ideas thread – Wednesday, 26 July 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,...
Alphabet and Microsoft beat on earnings.
Alphabet Inc (GOOGL):Alphabet Inc's Q2 2023 performance surpassed expectations, with Earnings per share (EPS) coming in at $1.44, ten cents higher than the forecasted $1.34. Revenue, too, outstripped predictions at $74.6 billion versus an expected $72.82 billion....
US stocks close higher. Dow industrial average rises for the 12 consecutive day
The major indices are closing higher. The Dow industrial average closed higher for the 12th consecutive day. Both the Dow and S&P hit 52 week highs today.The final numbers are showing:Dow industrial average rose 26.67 points or 0.08% at 35437.92S&P index rose...
WTI crude futures settles at $79.63
The price of WTI crude oil is settling at $79.63. That's up $0.89 or 1.13%. The high price reached $79.90 today. The low price was at $78.29.Recall from yesterday, the price extended above its 200 day moving average for the 1st time since August 2022. That 200 day...
With Australian CPI data to be released in the new trading day, what levels are in play?
The Australian CPI data for the quarter will be released in the new trading day rotations of a move down to 1.0% from 1.4% last quarter. The year-on-year CPI level still remains comfortably above the inflation targets (at 5.4%).Technically, the price of the AUDUSD has...
US Speaker McCarthy: House is considering an impeachment inquiry of Pres. Biden
US Speaker of McCarthy is a saying that the House of Representatives is considering an impeachment inquiry of Pres. Biden. The grounds are the weaponization of government to benefit his family and denied congressional oversight.The November 2024 election is just 15 –...
All major indices are higher. After the close, Microsoft & Alphabet will release earnings.
The major US indices are continuing their move to the upside what the NASDAQ index leading the way with a gain of 0.83%. The Dow industrial average is holding onto a 0.24% gain. Closing positive in the Dow would be the 12 consecutive up day for that index.Dow...
European Luxury brand LVMH announces earnings and sees a slowdown in US sales.Asia strong.
The European luxury brand company LVMH, reported Q2 2023 earnings with revenues of 21.21 billion Euros, surpassing the expected 20.6 billion Euros. However, sales in the U.S. fell by 1%. The company stated that it doesn't anticipate further price increases in the near...
USDJPY moves back below 50% of the move down from the June high
The USDJPY is pushing to the downside over the last few hours of trading making new session lows in the process. Technically, the price has moved below the 50% midpoint of the move down from the June 30 high. That level comes in at 141.149. The low price just reached...