The stronger Chinese yuan is the main reason helping the antipodean currencies today, with AUD/USD leading gains as it is up 0.5% to 0.6770 currently. The pair continues to keep a bounce off its 200-day moving average from yesterday, but what is the rest of the...
Australian Dollar Surges on China Stimulus Pledge; AUD/USD, EUR/AUD, GBP/AUD Price Action
Australian Dollar Vs US Dollar, Euro, British Pound – Price Setups:AUD jumped on reports that Chinese authorities have pledged to shore up the economy.Key focus is now on Australia CPI data due Wednesday.What is the outlook for AUD/USD, GBP/AUD, and EUR/AUD?...
GBPUSD Technical Analysis – Watch these signs for a possible turnaround
The big USD selloff following the miss in the US CPI report has been recently completely erased as the US data continued to surprise to the upside and keep the chances of a rate hike after the July increase alive. In fact, the US Initial Claims last week beat...
A Beginner’s Guide to Trading with Fxview
Globally recognised and regulated brokerage and a part of Finvasia Group, Fxview is a leading destination for traders starting out. Fxview offers a wide variety of financial instruments for traders to choose from, including over 400 stocks, 70 forex pairs, 11 indices,...
Trade ideas thread – European session 25 July 2023
Have we already gotten to the pre-Fed lull period in markets? I reckon so. The dollar sort of held its ground yesterday, with the move lower in USD/JPY being pared back before the end of the day. The pair is at around 141.40 levels now, consolidating gains after the...
FX option expiries for 25 July 10am New York cut
There is just one to take note of on the day, as highlighted in bold.That being for AUD/USD at 0.6770 and it sits near the 100-hour moving average of 0.6765 currently, a level which is helping to limit gains on the day. That could play an added role in keeping price...
German Ifo business survey the highlight on the calendar in Europe
We're seeing a steady start to the new day, with the PMI slump from yesterday not really impacting the risk mood all too much. In fact, outside of a sell down in the euro and pound, there wasn't much of an outsized reaction. The focus this week remains on key central...
Steady as she goes in the new day
It's a calmer mood in markets today but Asian stocks are finding reason to rally, helped by China's promise to deliver on measures to bolster the economy. A stronger Chinese yuan fix is adding to that message as well. In case you missed the headlines, Eamonn's got you...
Rising commodity prices could kill soft landing narrative, are “bull market kryptonite”
An analyst at US financial firm Raymond James says not to take your eye off steadying and rising commodity prices. “The rally in equities globally since October has been built partially on the continued decline in commodity pricing, which has helped U.S. and European...
Ahead of the European Central Bank meeting is its Q2 2023 Bank Lending Survey due today
Due at 0800 GMT, which is 0400 US Eastern time. The European Central Bank describe the bank lending survey (BLS):provides information on bank lending conditions in the euro area. It supplements existing statistics with information on the supply of, and demand for,...
ForexLive Asia-Pacific FX news wrap: Chinese markets benefit from Politburo economy pledge
The G3 central bank meetings this week:Federal Open Market Committee (FOMC) on Wednesday, European Central Bank on Thursday, and the Bank of Japan on Friday put a dampener on major FX volatility during the session.The announcement from China’s Politburo promising more...
Chinese state banks seen intervening to support the yuan – intervention to sell USD/yuan
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,...
China mainland and Hong Kong stocks higher after Politburo stimulus pledge
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,...
China promised more stimulus, PBOC strengthened CNY – yuan rising in early China trade
The news out of China on Monday was of more promised support for the economy:In addition the People's Bank of China once again set the CNY much higher than expected:Offshore yuan has been boosted by the combined impacts:USD/CNY is the onshore yuan. Its permitted to...
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PBOC sets USD/ CNY central rate at 7.1406 (vs. estimate at 7.2044)
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...
More pronounced volatility seen in the days ahead with G3 central bank “talk” to come
A snippet from Mizuho analysts, looking across the decisions ahead this week from the big 3; the Federal Open Market Committee (FOMC), the European Central Bank, and then the Bank of Japan.Mizuho say that while the actual decisions are (almost certainly) baked in:FOMC...
Fed insider says the Bank is not yet ready to declare victory over inflation
Fed 'whisperer' Nick Timiraos has a piece in the Wall Street Journal, and he clearly conveys the message that's it way to early to think the rate hike coming from the Federal Open Market Committee (FOMC) this week (the meeting is on Wednesday) is going to the final...
PBOC is expected to set the USD/CNY reference rate at 7.2044 – 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...
Rate cuts, tax cuts, fee reductions expected from China says state-sponsored finance media
China Securities Journal cites analysts on what to expect ahead from China.Re this:If the 3 steps in the headline are really what to expect as the outcome (re that link) there are gonna be a lot of disappointed folks about. Be careful out there if you are a renewed...