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...
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Australian weekly consumer confidence survey 75.2 (prior 72.6)
The ANZ - Roy Morgan consumer confidence survey is conducted weekly and continues to run running along close to its 3-year low.As part of the survey is a question about inflation expectations. These dipped last week, to 5.4% (5.6% prior week).The Reserve Bank of...
Commerzbank’s two factors that’ll prompt a weaker yen if the BOJ holds steady policy
Central Banks A snipper preview of the likely JPY impact from the Bank of Japan meeting on July 27 and 28 <!--> --> <!--> --> Commerzbank analysts argue that the Japanese yen will be impacted by two factors if the Bank of Japan monetary policy...
South Korean Q2 GDP +0.6% q/q (expected +0.5%)
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,...
(AAPL) Apple faces US$1 bn UK lawsuit by apps developers over app store fees
Apple is facing a class action lawsuit brought by more than 1,500 apps developers in the UK over App Store fees.brought by Sean Ennis, a professor at the Centre for Competition Policy at the University of East Anglia, on behalf of 1,566 app developers"Apple's charges...
On Monday China promised more stimulus. Another promise, or for real this time?
Adam had the info posted Monday:China's official Xinhua News Agency said the ruling Communist Party’s 24-member Politburo met, and promised counter-cyclical policy: called for actively expanding domestic demandfor resolving debt risksit left out the slogan of “housing...
BOJ is likely to consider raising their consumer inflation projection to around 2.5%
In summary:Bank of Japan officials meeting this week will probably consider a sharp increase to their inflation forecast for this fiscal year, while also discussing concerns about whether the upward trajectory is sustainableBOJ policy board is likely to mull raising...
No chance we’re having a soft landing, most pernicious Fed tightening since Volcker
Market Watch interviewed David Rosenberg, who was a former chief North American economist at Merrill Lynch and is now president of Toronto-based Rosenberg Research.His US economic outlook is blunt:“There is no chance we’re having a soft landing in the context of the...
JP Morgan: US stock mkt concentration highest 60 years. Watch AI frenzy for selloff sign.
A note Monday from JPMorgan Chief Global Markets Strategist Marko Kolanovic's analyst team.In summary:US stock market is seeing its dependence on a handful of megacap names increase at the fastest pace in 60 years, surpassing what was seen during the dot-com bubble,...
BOJ meet this week. MUFG still expect YCC tweak but their confidence ebbing. Yen scenario.
The Bank of Japan meet on the 27th and 28th.Goldman Sachs expect a tweak:As do MUFG:However, MUFG do say now that their conviction on this is diminishing:Key Points 1. YCC Change Conviction: MUFG has reduced certainty about an alteration in YCC settings in the...
Economic calendar in Asia Tuesday, 25 July 2023 – data from South Korea
The data calendar is almost bare today. From South Korea we'll be getting Q2 GDp, preliminaryexpected 0.5% q/q, prior 0.6%expected 0.8%, prior 0.3%due at 2300 GMT, 1900 US Eastern timeI see China is promising more stimulus:Lets see if there is any 'flood-like' stimmy...
Trade ideas thread – Tuesday, 25 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,...
Major indices all close higher. Dow is up for the 11th consecutive day
The majors US stock indices are closing higher. The Dow industrial average is up for the 11th consecutive day and was the biggest gainer of the major indices. The NASDAQ index was the laggard.A snapshot of the market shows:Dow industrial average rose 183.3 points or...
Forexlive Americas FX news wrap: PMIs highlight areas for concern
Markets:The US dollar was generally stronger on Monday as European PMIs deteriorated, leading to strong euro selling and moderate GBP selling. The commodity currencies were generally stronger against the dollar after China hinted at more stimulus, that also helped to...
EURUSD moves to a new session low and looks toward the 50%/100 bar MA on 4H chart
EURUSD trades to a new session low.The EURUSD is trading to a new set as low as the day comes toward a close. In the process, the price has dipped below the swing area between 1.1062 and 1.1075 bread see red numbered circles on the chart above. The next target on the...
The latest IMF global growth forecasts are set to be released on Tuesday
IMF forecasts rarely make it onto the economic calendar but they can be market movers, especially the forecast regarding global growth.The estimates are released quarterly, with the prior edition from April 11 and showing:2023 global GDP +2.8% vs 2.9% in January2024...