US:The Fed hiked by 25 bps as expected and kept everything unchanged.Fed Chair Powell reaffirmed their data dependency and kept all the options on the table.The US economic data keeps on surprising to the upside, but inflation expectations and CPI readings continue to...
Finst Becomes First Dutch Crypto Platform to Release an Extensive Proof of Reserves
Amsterdam-based cryptocurrency exchange Finst announces the successful release of its Proof of Reserves (PoR) conducted by a reputable and independent audit firmFinst’s extensive Proof of Reserves audit is a first-of-its-kind, aiming to address the limitations of...
Dollar eases lower in European morning trade
Equities are pushing the early gains further after the opening hour in Europe and that is putting a slight drag on the dollar now. EUR/USD is up 0.3% to 1.0930 and is knocking on the door of its 100-day moving average:EUR/USD daily chartTech shares are leading the way...
Eurozone June current account balance €35.8 billion vs €9.1 billion prior
Prior €9.1 billionThe surplus widens largely as a result of the current account balance in goods, as imports slide further. That continues to be a reflection of better energy price developments - which has been the cause of the negative balance last year.MoneyMaker FX...
Market Update – August 22 – US 10 year yield hits decades-long high, Tech rallies
Futures are marginally higher this morning after US100 and US500 snapped a four day negative streak yesterday with the tech heavy index posting its biggest advance of the month (+1.65%) boosted by Tesla and Nvidia‘s performances. The chip maker rose 8.47% after...
EURUSD Technical Analysis – Watch what happens at this key trendline
US:The Fed hiked by 25 bps as expected and kept everything unchanged.Fed Chair Powell reaffirmed their data dependency and kept all the options on the table.The US economic data keeps on surprising to the upside, but inflation expectations and CPI readings continue to...
GBPUSD Technical Analysis – Bullish signs are emerging
US:The Fed hiked by 25 bps as expected and kept everything unchanged.Fed Chair Powell reaffirmed their data dependency and kept all the options on the table.The US economic data keeps on surprising to the upside, but inflation expectations and CPI readings continue to...
Switzerland July trade balance CHF 3.13 billion vs CHF 4.82 billion prior
> Switzerland July trade balance CHF 3.13 billion vs CHF 4.82 billion prior Latest data released by the Federal Statistics Office - 22 August 2023 <!--> Justin Low Tuesday, 22/08/2023 | 06:00 GMT-0 22/08/2023 | 06:00 GMT-0 --> <!--> Prior CHF 4.82...
FX option expiries for 22 August 10am New York cut
There is just one to take note of on the day, as highlighted in bold.That being for EUR/USD at the 1.0900 mark once again. That is likely to help keep price action more contained, especially as we are now hovering in between the 100-hour moving average (1.0886) and...
Yuan fallout still being somewhat contained by Beijing for now
Here's a look at the charts for both the onshore and offshore yuan currencies:USD/CNY daily chartUSD/CNH daily chartThe latest bout of the weakness in the yuan sees the currency fall to its lowest since late October to early November last year. And that is where...
BOJ’s Ueda says did not discuss FX volatility in meeting with Kishida
Explained to Kishida the BOJ's July policy decisionKishida said that he understood the reasoning behind itSays would prefer to refrain from mentioning what was discussedBut Kishida asked questions on various aspects of the economy, financial developmentsKuroda had met...
Federal Reserve official speaking Tuesday include Barkin, Goolsbee and Bowman
Speaking events for Fed officials on Tuesday, 22 August 2023 include:At 1130 GMT, which is 0730 US Eastern time, Federal Reserve Bank of Richmond President Thomas Barkin speaks at Business@Breakfast: 2023 Economic Forecast Update at the Danville Chamber of...
Bank of Japan Governor Ueda and Japanese Prime Minister to meet
Meetings between the Governor and PM are a regular occurrence. Given Ueda is a newly appointed Governor this is the first of these regular meetings for him. Info comes via Japanese media, Jiji.Meanwhile, USD/JPY has dipped a little lower on this news crossing. Bank of...
ForexLive Asia-Pacific FX news wrap: USD loses a little more ground
The US 10-year Treasury yield hit its highest level since 2007 in Monday US time trade. Despite this the US session saw a lower US dollar and higher equity indexes. This set the stage for Asia trade today where regional stocks are mainly higher and the losses for the...
BNP on the sliding yuan – no hard line-in-the-sand
I posted earlier on JPM on the yuan:BNP have a similar view on a lower RMB, saying it'll keep falling:“Ultimately it depends on the yield difference between US and China, and we’re witnessing a nearly record widening of nominal rates differential.”and“We don’t think...
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AUD/USD to remain stuck in the middle of 0.63 – 0.65 range: China woes, dovish RBA
This snippet via Mizuho on the Australian dollar. In a (very) brief summary of the piece:China Woes: The sheer magnitude of balance sheet and cash-flow shocks mean stimulus, including rate cuts are mere signals not solutions.Especially as further property sector and...
China raids, fines US firm for foreign-related statistical investigations without approval
China imposed roughly US$1.5 mn in financial penalties on the Beijing arm of Mintz Group for allegedly conducting unapproved statistical work.The info comes from a Wall Street Journal (gated) report, in brief:Beijing Municipal Bureau of Statistics said Mintz’s Beijing...
Rumour that a Chinese nuclear submarine has had a serious accident near the Taiwan Strait
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’s banks may quicken mortgage rate cuts says Chinese media
China Securities Daily with the opinion piece saying banks may hurry along cuts to existing mortgage rates. Seems a little far-fetched to expect too much on this. Yesterday the People's Bank of China left the 5 year LPR unchanged. This is the rate that mortgage rates...