Closely watching effectiveness of policy stepsRecent interest rate cuts for property sector have achieved significant resultsWill implement monetary policy in a precise and forceful mannerThey will not admit that whatever they are doing isn't enough, so don't expect a...
ECB’s Visco: Uncertainty looms great on global economy
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,...
AUDUSD Technical Analysis – Signs of a bottom continue to emerge
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 in 2024.Fed Chair Powell...
German economy to show another mild decline in Q3 – economy ministry
Another mild decline in GDP is expected for Q3But momentum expected to return at the end of the yearFor now, no noticeable momentum in foreign trade in the coming months at leastThey are expecting a "moderate recovery" at the turn of the year but only time will tell....
BOE’s Bailey: Last policy decision was a tight one
Future decisions will continue being tightPolicy is restrictive and it has to beSees progress on inflation but there is still work left to doA 4-5 vote is as tight as can be but in all likelihood, the BOE is done unless there is a surprise higher in the inflation...
Market Update – October 13 – OIl & Gold rise, USD falls
Stock markets sold off across Asia, after a weaker close on Wall Street. Rate hike concerns picked up again in the wake of the hotter than expected US inflation print yesterday and still tight jobless claims numbers and put stocks on the back foot. The reports saw the...
China September M2 money supply +10.3% vs +10.7% y/y expected
Prior +10.6%New yuan loans ¥2.31 trillion vs ¥2.50 trillion expectedPrior ¥1.36 trillionThat's a notable jump in new loans, even if it comes in lower than estimated. Broad money growth continues to ease further and will be something that Beijing has to be mindful...
Once bitten, twice shy..
The lesson learnt yesterday is that the bond market rout is not really over just yet. And that is keeping traders on their toes as we get towards the final trading day of the week. 10-year Treasury yields are down slightly by 5 bps to 4.650% but we're not really...
Gold Technical Analysis – Big selling opportunity at this resistance?
The war in Israel has given Gold a boost as the precious metal managed to sustain a rally after the upward gap following the outbreak of the war. The real yields and the US Dollar though continue to march higher and that might weigh on Gold especially at these key...
Spain September final CPI +3.5% vs +3.5% y/y prelim
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,...
France September final CPI +4.9% vs +4.9% y/y prelim
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,...
Switzerland September producer and import prices -0.1% vs -0.2% m/m prior
Looking at the breakdown, producer prices were flat on the month while the slight fall was due to import prices (-0.2%). Overall, it still points to further moderation in price pressures - which is a welcome development as the SNB heads to the sidelines.MoneyMaker FX...
USDCAD Technical Analysis – Another selling opportunity or new highs 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 in 2024.Fed Chair Powell...
FX option expiries for 13 October 10am New York cut
There are a handful of significantly large option expiries for EUR/USD to take note of, as highlighted in bold.The key ones based on the current spot price are layered around 1.0500 to 1.0575 but those expiries are sandwiched in between some massive ones at 1.0470-75...
Japan households’ inflation expectation rose slightly in September
86.8% of households expect prices to rise a year from now (previously 86.3% in June)Japanese households expect inflation to rise by average of 10.7% a year from now (previously 10.5%)80.7% of households expect prices to rise 5 years from now (previously 79.0%)Japanese...
ForexLive Asia-Pacific FX news wrap: Minor retracement loss for the USD
Session wrap Forex news for Asian trading on Friday, 13 October 2023 <!--> --> There was a minor retracement loss for the US dollar after its sharp gains in post-US CPI trade Thursday. EUR, GBP, AUD all showed small positives. USD/JPY, on the other hand,...
Federal Reserve Bank of Philadelphia President Patrick Harker speaks on Friday
Harker is the only Fed speaker I see ahead on the schedule. He tends to be one of the more restrained in his comments. I am curious to see how these officials great to core inflation being closer to 4% than 3%, and double the 2% Fed target rate. 1300 GMT / 0900 US...
Bank of England Governor Andrew Bailey is speaking on Friday
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 September USD dollar denominated Exports -6.2% y/y, Imports -6.2%
China trade balance data for September 2023Trade Balance in USD terms 77.7bnexpected 70.0bn, prior 68.4bnin yuan terms a surplus of 558.7bnImports -6.2% y/yexpected -6.0%, prior -7.3%in yuan terms -0.8% y/yExports -6.2% expected -7.6%, prior -8.8%in yuan terms -0.6%...
US bonds – “We are not done testing a 5% yield on the 10-year note or 30-year bond”
Media reports (MarketWatch / Dow Jones) with comments from Marc Chandler, chief market strategist at Bannockburn Global Forex.Chandler discussing the path to 5%.(I posted on the 5% question earlier ICYMI:TD on "worries about a lack of demand for Treasuries", could see...