Prior -1.1%Wholesale prices continue to ease and that is a welcome development, especially since the prices for mineral oil products did actually see a 1.3% increase on the month compared to May. That points to broader price pressures easing but the deterioration in...
Trade ideas thread – European session 14 July 2023
Dollar demise set to continue? Well, it certainly looks that way as the technicals are rather awful at the moment for the greenback. I highlighted that here and also pointed out some spots of hope where dollar buyers may make a stand.Besides the dollar slide, equities...
Bitcoin & Ethereum After Ripple Wins SEC Case: Preparing for an Advance
Bitcoin, BTC/USD, Ethereum, ETH/USD - Outlook:Bitcoin is attempting a breakout from a bullish flag pattern.A potential reverse head & shoulders brewing in ETH/USD.What is the outlook and what are the key levels to watch? Discover what kind of forex trader you are...
Dollar in a rough spot towards the end of the week
And that run continued in trading yesterday, with traders establishing the next leg lower for the currency. Things are a little slower today but the technicals aren't looking good whatsoever for the greenback.EUR/USD now trades above 1.1200 and its 200-week moving...
More on ex-BOJ Hayakawa expects Bank to tweak yield curve control (YCC) program this month
Hideo Hayakawa is a former chief economist and director at the Bank of Japan. He spoke in an interview with Bloomberg (gated). He is expecting the BOJ will probably adjust its yield curve control program at its policy meeting this month (July 27 and 28), citing...
More from deputy governor of the PBOC: Will prevent sharp fluctuations in the yuan
Jawboning from the People's Bank of China on the yuan. Liu Guoqiang, deputy governor of the People's Bank of China: It's not good to see yuan exchange rate too high or too lowWill prevent sharp fluctuations in yuanExpects china's economy to improveChina's cross-border...
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ForexLive Asia-Pacific FX news wrap: USD/JPY fell further, speculation mounts of BOJ tweak
USD/JPY continued its down move during the session. As I post the low has been circa 137.26. The yen was boosted by a couple of items out of Japan. Firstly, there was a media report that the Bank of Japan would revises its FY2023 inflation forecast above 2% at the...
WSJ’s Nick Timiraos highlight’s Fed Waller’s comment on September meeting being ‘live’
Nick Timiraos is viewed as having good connections into the Federal Reserve. He has, in the past, communicated policy messaging during a 'blackout' period, for example.He is emphasising the remark earlier from Federal Reserve Board Governor Christopher Waller that the...
People’s Bank of China Deputy Governor says Bank has ample policy tools
People's Bank of China Deputy Governor Liu: Needs time for China's economy to return to normal after pandemicChina has not seen deflation, no deflationary risks in H2CPI could go lower in July, rebound in AugustBank has ample policy tools, will step up...
Japan finance minister Suzuki to hold G7 Finance meeting on July 16
Japan finance minister Suzuki says there will be a G7 financial leaders meeting on the sidelines of the July 16 G20 meetingno communique will be issuedtopics will include Ukraine, taxation and more-Now that the urgency has come out of stemming the rapidly falling yen...
Yen rising further – speculation mounts the BOJ to forecast inflation higher, tweak policy
The speculation of a policy tweak at the Bank of Japan July 27 and 28 meeting is still flourishing. Today we've had two separate threads, inflation forecasts solidifying higher, and talk of a YCC change at the upcoming meeting:Yen is still catching a...
China’s top diplomat Wang Yi says China-Australia relations have stabilised, improved
China Foreign Minister Wang Yi: under the joint efforts of both sides, China-Australia relations have stabilised, improved and developed Hopes Australia will provide a fair, just and non-discriminatory business environment for Chinese enterprises to invest and operate...
PBOC sets USD/ CNY reference rate for today at 7.1318 (vs. estimate at 7.1453)
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...
China CASS says economic stimulus should be boosted by around US180bn by increased deficit
Nikkie (Japanese press) on the call from the Chinese Academy of Social Sciences earlier this week to expand the budget deficit by at least 1.3 trillion yuan ($182 billion) this year to fund more economic stimulus. CASS called for stimulus measures such as distributing...
Former BOJ Director Hayakawa expects the Bank to tweak YCC at the July meeting
Hideo Hayakawa is a Senior Fellow at Tokyo Foundation for Policy Research and a former Bank of Japan Executive DirectorHe says he is expecting another tweak to yield curve control at the b-jj meeting on July 27 and 28thinks widening the band around zero for the 10...
PBOC is expected to set the USD/CNY reference rate at 7.1453 – 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...
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Singapore Q2 GDP +0.3% q/q (vs. 0.3% expected) (preliminary data)
The Advance, or preliminary, reading for economic growth in Singapore for the April to June quarter of 2023+0.3% q/qexpected 0.3%, prior -1.6%+0.7% y/yexpected 0.6%, prior 0.4%The +0.3% q/q has meant Singapore does not drop into recession (2 consecutive quarters of...
New RBA Governor announced to replace Lowe: Michele Bullock
Reserve Bank of Australia Governor Lowe finishes his term in September. Australian Prime Minister Albanese and Treasurer Chalmers have announced the new Governor at a press conference.Current Deputy Governor Michele Bullock has been appointed as the new head of the...