China finance ministry readout: Two sides had in-depth, candid and constructive discussions on the macroeconomic situation and policies of the two countries and the world China expressed its concern, both sides will maintain communication Two sides also had...
ICYMI – China set to approve 1 trln yuan in additional sovereign debt issuance today
I posted this earlier:And am doing so again ahead of Chinese markets opening for the day.More info, Reuters citing 3 unnamed sources:China's top legislators, the standing committee of the National People's Congress (NPC), are set to approve the extra debt...
PBOC sets USD/ CNY central rate at 7.1786 (vs. estimate at 7.2992)
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...
Bank of Japan announces an unscheduled JGB buying operation
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,...
The economic calendar for Europe, UK & US on Tuesday is a sea of red – plenty of key data
By 'sea of red' I mean the data points for release have been allocated as high-impact ones, like where the arrow is pointing. This should ensure more activity/volatility than normal as markets respond. This snapshot from the ForexLive economic data calendar, access it...
Japan looks set to extend fuel and utility price subsidies through to end April 2024
Reuters citing a draft of the government's economic stimulus package is reviewedJapan's government will extend until the end of April next year subsidies aimed at curbing fuel priceswill also extend until the spring of 2024 subsidies to curb utility billsMoneyMaker FX...
Japan Jibun preliminary manufacturing PMI for October 48.5 (prior 48.5)
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 equites – BlackRock says there is too much optimism about corporate earnings
BlackRock Investment Institute with the cautionary heads up:“About half of expected earnings growth is tied to mega caps ... according to LSEG data, where the artificial intelligence (AI) mega force is well represented. Backing those out ... expectations for broad...
Not FX – McDonald’s is giving away free fries every Friday for the rest of the year
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,...
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PBOC is expected to set the USD/CNY reference rate at 7.2992 – 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...
Fake reports incoming of an attack on US Navy ship Carney – no attack happened
A heads up in case you begin to see reports of an attack on USS Carney. The reports are fake news, distributed by Iranian propaganda channels.--USS Carney is the 14th Arleigh Burke-class destroyer in the United States Navy.Last week it shot down multiple missiles and...
South Korea looking to Africa to secure graphite as China tightens export controls
China is restricting exports of graphite:South Korean firms are instead chasing down leads in African countries to secure graphite, a key material used in electric-vehicle batteries.Chinawill place graphite deemed highly sensitive under “dual-use item” export controls...
The good news / bad news preview of Australia CPI data due Wednesday
Australian Q3 CPI preview data is due on Wednesday, 25 October 2023at 11.30 am Sydney time, whoch is 0030 GMT and 2030 US Eastern timeVia ING on what to expect:The good news is that we think there is a chance that the headline inflation rate could manage not to rise...
Australian data – ANZ-Roy Morgan consumer confidence index 78.2 (prior 76.4)
Australian Weekly ANZ Roy Morgan Consumer Confidence survey remains very weak. Eyes are on the CPI data due tomorrow from Australia:In the weekly survey there is a question on consumers expect for inflation ahead:in this week's survey inflation expectations jumped by...
White House national security spokesman Kirby says not the time for Israel-Hamas ceasefire
This is not the time for a ceasefire in the conflict between Israel and Hamas terrorists according to White House national security spokesman John Kirby.Kirby was speaking with CNN. Israel have offered a ceasefire if the terrorists release hostages and surrender....
Bitcoin higher again, above US$32K
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,...
AUD traders heads up – Reserve Bank of Australia Governor Bullock speaks later on Tuesday
On Tuesday, 24 October 2023 at 7 pm Sydney time, which is 0800 GMT and 0400 US Eastern time Reserve Bank of Australia Governor Bullock is speaking.The topic is:Monetary Policy in Australia: Complementarities and Trade-offsat the Commonwealth Bank of Australia Global...
Australia preliminary PMI: Manufacturing 48.0 (prior 48.7) & Services 47.6 (prior 51.8)
Preliminary S&P Global / Judo Bank flash PMIs from Australia for October 2023.Wow, an ugly set of numbers. Services have plunged back into contraction. Commentary from the report. in summaryNew orders weakened in October and are below the 50 neutral level,...
AUD traders – NAB says CPI data to be higher than RBA expects, forecast November rate hike
National Australia Bank is forecasting a November Reserve Bank of Australia interest rate hike of 25bp, which will take the cash rate to 4.35%.NAB on the Q3 CPI data that's due on Wednesday, 25 October 2023 at 11.30 am Sydney time, whoch is 0030 GMT and 2030 US...