The report says that Japan's trade union confederation, otherwise known as RENGO, is planning to ask for more than a 5% wage hike in the coming 2024 spring wage negotiations. Adding that they also plan to ask for more than a 3% base wage hike on top of that.That's a...
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Dollar remains in a good spot so far this week
The mood among major currencies today is more mixed but overall, the dollar is still in a good spot all things considered. EUR/USD is little changed at 1.0550 currently but is hovering closer to lows near 1.0500 while topside is being managed by the 23.6 Fib...
EURUSD Technical Analysis – New lows incoming?
US:The Fed left interest rates unchanged as expected at the last meeting.The macroeconomic projections were revised higher, and the Dot Plot showed that the FOMC still expects another rate hike by the end of the year with less rate cuts projected in 2024.Fed Chair...
FX option expiries for 17 October 10am New York cut
There are a couple to take note of for the day, as highlighted in bold.The first being for EUR/USD at 1.0500, which will add to the defensive layer at the figure level and likely help to keep price action above that before rolling off later in the day.Then, there is...
UK September payrolls change -11k vs 0k prior
> UK September payrolls change -11k vs 0k prior Latest data released by ONS - 17 October 2023 <!--> --> <!--> Prior 0k; revised to -8kAugust average weekly earnings % vs +8.3% 3m/y expectedPrior +8.5%August average weekly earnings % vs +7.8% 3m/y...
GBPUSD Technical Analysis – Watch these levels for the next direction
US:The Fed left interest rates unchanged as expected at the last meeting.The macroeconomic projections were revised higher, and the Dot Plot showed that the FOMC still expects another rate hike by the end of the year with less rate cuts projected in 2024.Fed Chair...
Treasury yields ticking higher again as market fears abate
US Treasury 10-year yields (%) daily chartThe flight to safety on Friday put a bid in bonds but all of that is being undone this week with 10-year Treasury yields now climbing up to its highest since 9 October again. Yields look poised to march towards 4.80% once more...
Heads up: UK labour market data today will only be a partial one
If you're wondering why the economic calendar might look a bit off today, it's not you. The ONS is only publishing figures on workers' earnings, vacancies and real-time information on employment for today. Meanwhile, the rest of the labour market data is pushed back...
ForexLive Asia-Pacific FX news wrap: NZD down on better CPI, AUD up on hawkish RBA minutes
The New Zealand dollar lost ground after the September quarter inflation data came in at levels under expectations. The Reserve Bank of New Zealand have recently paused their aggressive series of rate hikes and the data today indicate further rate hikes are less...
More on Head of US CENTCOM flying into Tel Aviv – “ironclad support for Israel.”
The news is here from earlier of General Kurilla's arrival in Israel:CENTCOM statement:Gen. Michael “Erik” Kurilla, Commander, U.S. Central Command, has arrived in Tel Aviv, Israel to conduct high level meetings with Israel’s military leadership, including Lt. Gen....
Federal Reserve speakers Tuesday include Williams, Bowman, Barkin, and Kashkari
The times listed below are in GMT / US Eastern time format:1200 / 08:00 Federal Reserve Bank of New York President John Williams moderates discussion with Intel Chief Executive Pat Gelsinger at Economic Club of New York event1320 / 09:20 Board Governor Michelle Bowman...
European Central Bank’s Centeno and de Guindos speak Tuesday
We'll be hearing from these two and perhaps others who are;t on the schedule but will pop up:09:45 ECB Governing Council member and Bank of Portugal Governor Mario Centeno opens conference on the sanctioning role of central banks, in Lisbon13:00 Dinner speech by ECB...
Singapore non-oil domestic exports (NODX) +11.1% m/m in September (expected +3.2%)
Singapore’s non-oil domestic exports (NODX) data for September 2023 accelerated sharply m/m but are still down on a y/y basis. +11.2% m/mexpected +3.2%, prior -6.6%m/m showed growing exports to China, Hong Kong and the U.S.-13.2% y/yexpected -14.7%, prior...
Senior US general flies into Israel on an unannounced trip
Via Reuters report:The top U.S. general overseeing American forces in the Middle East made an unannounced trip to Israel on Tuesday, saying he hoped to ensure its military has what it needs as it fights a deepening war against Palestinian militant group Hamas. Army...
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China’s sovereign fund CIC buying shares in big banks – indicator to market bottom?
Last week Central Huijin, a unit of China's sovereign fund CIC, increased its shareholdings in the Big Four state banks in China and said it will continue to increase its shareholdings of the banks in next six months.A snippet from HSBC on this, analysts at the bank...
Japan finance minister Suzuki says he has no comment on factors determining weak yen
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,...
Bank of England Monetary Policy Committee member Dhingra speaks Tuesday
0905 GMT / 0505 US Eastern time: Bank of England interest rate-setter Swati Dhingra, speaks as a panelist at the Royal Economic Society SummitDhingra has voted against rate hikes or in favour of only small increases since joining the Bank of England in 2022BoE's...
NZD/USD dribbling lower again after the RBNZ’s own preferred inflation drops
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,...