Prior +0.2%GDP 0.0% vs -0.1% 3m/3m expectedPrior +0.1%UK GDP marginally declined in the month of May with the details showing no growth in the services sector, followed by a 0.01% drop in construction and 0.08% fall in production during the month. Compared to...
Trade ideas thread – European session 13 July 2023
Well, the dollar looks to have finally broken and that is setting up some interesting technicals all across the board now. I'll go into more details in the session ahead but as summarised earlier, here's the overview:EUR/USD breaks above April to May highs to highest...
Bank of Canada to deliver one more 25 bps rate hike in October – Goldman Sachs
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,...
UK monthly GDP on the agenda for today
And so the dollar looks to have finally broke after the US CPI data yesterday here. The inflation numbers were softer than estimated and that allowed for a further run against the dollar, which looks to be on its next leg lower now.I'll get to the charts later in the...
Federal Reserve speakers on Thursday include Daly and Waller
1510 GMT/1110 US Eastern time: Federal Reserve Bank of San Francisco President Mary Daly participates in live interview with CNBC.2245 GMT/1845 US Eastern time: Federal Reserve Board Governor Christopher Waller speaks on the economic outlook before the Money...
Gold Boosted by US CPI; Reverse Head & Shoulders Triggers in XAU/USD
Gold, XAU/USD – Price Action & Outlook:XAU/USD has broken above key resistance.The break has triggered a minor reverse head & shoulders pattern, pointing to further gains.What are the key levels to watch in XAU/USD? Recommended by Manish Jaradi Get Your Free...
ForexLive Asia-Pacific FX news wrap: USD/JPY has a small bounce
Session wrap Forex news for Asian trading on Friday, 14 July 2023 <!--> Eamonn Sheridan Thursday, 13/07/2023 | 02:52 GMT-0 13/07/2023 | 02:52 GMT-0 --> News flow was very light during the session. The better US CPI report continued to impact on financial...
China’s Customs Bureau says H1 2023 exports were +3.7% y/y, while imports were -0.1% y/y
Ahead of the June trade figures the Customs Bureau have released January - June collated data, in CNY termsexports +3.7% y/yimports -0.1% y/ya CNY 2.82 tln surplusCustoms says:sluggish global economic growth, slowing global trade and investment, geopolitical risks and...
Heads up for a People’s Bank of China news conference on Friday, China time
The People's Bank of China will be holding a news conference on Friday, 14 July 2023 at 10am Beijing time0300 GMT10pm US Eastern time (on Thursday, 13 July 2023)Speakers at the presser will include vice central bank governor Liu Guoqiang.The media conference will be...
Asian equity markets markets higher after strong lead from Wall Street on better US CPI
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,...
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PBOC sets USD/ CNY central rate at 7.1527 (vs. estimate at 7.1623)
The reference rate for the USD/CNY today was estimated at 7.1788 with the People's Bank of China's counter-cyclical factor" (CCF) included and 7.1954 without.People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.USD/CNY is the...
Australia Consumer Inflation Expectations (July) 5.2% (prior 5.2%)
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,...
2 different reasons the yen has been rising (hard!)
Greg on the yen:For sure! A very rapid move indeed. If the yen weakened at such a pace Japanese authorities would be bashing the newwires with jawboning about how such rapid moves are no desirable. But, nope, nothing from them these past days. Via Deutsche Bank:The...
PBOC is expected to set the USD/CNY reference rate at 7.1623 – 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...
Russia’s flagship Urals crude oil has popped above the US$60 price cap for the first time
The Group of Seven last year set a US$60 price cap on Russian oil in an attempt to restrict revenue to Moscow’s warmongering. According to Argus Media (price monitoring agency) reports Russian Urals crude topped $60 a barrel on Wednesday.Urals prices rose to $60.78 a...
China Securities Journal says H2 2023 policy mix will stabilize the country’s economy
Thre may not be too much actual stimulus coming from China but the jawboning and media coverage is relentless. Earlier:Yesterday, also from the China Securities Journal: The Chinese Communist Party financial newspaper is at it again today, saying growth is expected to...
Rates traders still see an FOMC July rate hike but chance of a September hike has plunged
The US June CPI report continued to show improvement, the pace of price prises slowing again:The US CPI report for June came in lower than the consensus expected for both headline and core m/m.The CME FedWatch Tool still shows a 94% chance of a Fed Funds rate hike of...
US FTC says it will appeal to block the MSFT – Activision deal
MSFT wants to buy ATVI. FTC will appeal it loss trying to block the purchase.This will weigh on Globex US equity indexes at the margin, even if just from a headline effect in thin overnight trade. (This chart is from our charting app, which is free and can be found at...
New Zealand data – Card retail sales +1.0% m/m in June vs. expected -0.2%
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,...