Basically, we won't make any comments when intervening in FX marketIf we don't act to excessive moves, that could hurt those who are vulnerableCurrencies must move stably, reflecting fundamentalsThere is international agreement that we can act if there are excessive...
BOJ raises economic assessment for 6 of Japan’s 9 regions in latest Sakura report
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,...
Japan top currency diplomat Kanda weighs in on the state of other major economies
Chinese economy is slowing down due in part to policy failureUS economy is stronger than expected, but Beige Book suggests signs of softeningRisks to global economy skewed to the downside due to China slowdown, Russia-Ukraine conflict and now the situation in the...
Barclays pushes back next Fed rate hike timing to December
As the US economy holds firm and inflation pressures are still moderating, the Fed may not see much reason to shake things up just yet. On the change, Barclays says that: "We continue to think, however, there is a strong case for at least another rate hike, assuming...
5%.. Ready or not? Here we go..
US Treasury 10-year yields (%) daily chartAnd so, what does that mean for broader markets? Let's take a look.Even with a stronger 20-year auction in Treasuries yesterday, it is doing almost nothing to stop the puking in bonds. Evidently, the waves of supply and the...
ForexLive Asia-Pacific FX news wrap: AUD lower after a soft and mixed jobs report
The Australian September Labour Market report showed a disappointing result on jobs created for the month but a drop in the unemployment rate from 3.7% in August to 3.6% (lower participation the key to this). Full-time jobs fell by nearly 40 thousand, while part-time...
There are 7 speakers from the US Federal Reserve coming up Thursday – Powell the highlight
The 'blackout' will be along soon ahead of the October 31/November 1 meeting, until then I think this lot gets paid by the word. Times listed below are in GMT / US Eastern time layout:1300 / 0900 Federal Reserve Vice Chair Philip Jefferson gives opening remarks before...
ECB’s Valimaki speaking on digital euro Thursday, 19 October 2023
0800 GMT / 0400 US Eastern time: Bank of Finland's board member and European Central Bank Governing Council member Tuomas Valimaki will hold a press conference on digital euro and the future of paymentsBank of Finland Governor Olli Rehn has taken a leave of absence to...
Federal Reserve Chairman Jerome Powell speaks Thursday – to tilt hawkish
Federal Reserve Chair Powell is speaking from midday US Eastern time on Thursday, 19 October 2023:1600 GMTPowell participates in discussion on the economic outlook before an Economic Club of New York luncheon, in New YorkAnalysts brief preives. Chief US economist at...
JP Morgan warns that if the Fed cuts rates it’ll be for the wrong reasons, stocks to fall
Hugh Gimber, global market strategist at JPMorgan Asset Management spoke on CNBC (gated):believes Fed cuts in 2024 would likely coincide with declining corporate earnings, creating headwinds for stocks“I think the key point for me is that the reason the Fed cuts next...
AUD/USD dripping lower still after mixed jobs report
The labour market report for September disappointed on jobs growth but did show a drop in the unemployment rate. Data is here ICYMI:The report is unlikely to be too concerning for the Reserve Bank of Australia, the labour market is still very tight despite the slowing...
China new home prices for September -0.2% m/m (prior -0.3%) and -0.1% y/y (prior -0.1%)
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,...
PBOC sets USD/ CNY reference rate for today at 7.1795 (vs. estimate at 7.3226)
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...
AUD/USD a few tics weaker after the September jobs report
While the twin headlines show jobs were added and the unemployment rate dropped the internals of the September Labour Market report are a little soft. AUD/USD was a touch lower before the release, alongside a slight strengthening for the USD across most major FX...
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Australia Sep. Jobs +6.7K (vs. +20K expected) & Jobless rate 3.6% (vs. 3.7% exp)
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,...
PBOC is expected to set the USD/CNY reference rate at 7.3226 – 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...
JP Morgan says “Cash is a trap”
The JP Morgan analysts may be talking their book, comments from J.P. Morgan Asset Management and J.P. Morgan Global Wealth Management"Cash is a trap" "important to take a long-term view"Recommend stocks and bonds mix:portfolio comprising 60% stocks and 40% bonds may...
Japan September exports +4.3% y/y (expected +3.1%) Imports -16.3% y/y (expected -12.9%)
Japan trade data for September 2023. The Ministry of Finance says the September exports are the largest value ever. The really weak yen has helped boost the 'largest export value' on record result. More:Exports to the US +13% y/y (also largest value ever)to the EU...
Former BOJ board member: Bank may scrap negative interest rates by the end of this year
ICYMI, former Bank of Japan policy board member Makoto Sakurai spoke in an interview, saying the Bank may scrap negative interest rates by the end of this year to adjust the currently excessive level of monetary easing.Via a Bloomberg report (gated):“They could do it...