GOLD PRICE FORECAST: Recommended by Zain Vawda Get Your Free Gold Forecast Get My Guide MOST READ: USD/CAD Retreats Following Hot Canadian Inflation DataGold prices continue to hover around the $1900 support handle following a brief push lower yesterday. Sellers were...
Dollar holds lightly lower to start the session
The dollar is just a touch lower on the day, as traders are settling into European morning trade. EUR/USD is up 0.2% to 1.0925 while USD/JPY is down 0.1% to 145.43 currently. That said, both pairs are stuck in a 27 pips range and a 37 pips range respectively so...
GBPJPY Technical Analysis – Mixed picture but the bullish bias prevails
The BoE hiked by 25 bps as expected as the UK CPI missed expectations across the board and UK employment report showed a mixed picture with both the unemployment rate and wage growth higher. The central bank seems to be leaning more on the less hawkish side as a key...
USDCHF Technical Analysis – Watch this resistance zone for another rally
Last week, the US CPI came basically in line with expectations, but the good news is that the Core M/M reading once again printed at 0.2%. The less good news is that the US Initial Claims spiked higher, but Continuing Claims remained solid. We have already seen Claims...
UK July CPI +6.8% vs +6.8% y/y expected
Prior +7.9%Core CPI +6.9% vs +6.8% y/y expectedPrior +6.9%The headline reading is as per expected, reflecting the big decline in household energy bills in the month of July. But it is all about the core reading, and that is keeping more stubborn and unchanged at 6.9%...
FX option expiries for 16 August 10am New York cut
There aren't any major ones to take note of for the day. As such, trading sentiment will rely more on the technicals (which are favouring the dollar) and also the broader market mood (which the bond market is still being a key influence).For more information on how to...
The things to watch out for in the UK CPI report later
Let's jump right into this. The first thing to note is that headline annual inflation is estimated to fall from 7.9% in June to 6.8% in July. That sounds about right given the near 20% decline in household energy bills but also as food price inflation is supposedly...
How does the Fed pricing look now?
If the narrative is to keep rates higher for longer, then the US economy is certainly doing its part in helping the Fed achieve that. The non-farm payrolls and consumer inflation reports have served to validate the notion that perhaps we don't need any more rate...
Accelerated moves from the US to cut research ties with China over security concerns
The Wall Street Journal carries the report on some U.S. lawmakers pushing to let a landmark agreement to cooperate on science and technology, signed in 1979 and renewed routinely since, expire this month.The gist of the story:Rep. Mike Gallagher (R., Wis.), the...
More to come from the RBNZ tomorrow. Parliament appearance, Orr and Hawkesby speaking also
Official from the Reserve Bank of New Zealand will follow up on today's statement and press conference on Thursday, 17 August 2023. RBNZ officials will appear before the parliament's Finance and Expenditure CommitteeLater, Deputy Governor Christian Hawkesby will speak...
RBNZ Governor Orr says the higher OCR track is not forward guidance
RBNZ Governor Orr's press conference following the Bank's policy statement earlier. rise in OCR track is not forward guidance, not a strong signal out the Bank's next movewary about too much on ratesis encouraged to see inflation fallinflation is still too highthe...
ForexLive Asia-Pacific FX news wrap: RBNZ leaves cash rate at 5.5%, as expected
The focus of the session was on the Reserve Bank of New Zealand monetary policy decision. The Bank left its cash rate unchanged for the second meeting in a row, as was almost unanimously expected. While on central banks, the People’s Bank of China fixing of the...
More from the RBNZ: Estimate of nominal neural cash rate has increased 25bp
Minutes from the Reserve Bank of New Zealand meeting: Committee noted inflation is still expected to decline within the target band by the second half of 2024Committee agreed that the risks around the inflation projection remain balancedCommittee noted that the...
NZD/USD a few points higher after the RBNZ statement says rates to stay high for some time
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 Zhongrong misses dozens of payments as fallout spreads
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 House Prices in July fell m/m and y/y
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,...
PBOC sets USD/ CNY reference rate for today at 7.1986 (vs. estimate at 7.2878)
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...
Reserve Bank of New Zealand statement due soon – previews ICYMI
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,...
Australia data – twelfth consecutive negative print for the Leading Index growth rate
Westpc's main points:Leading Index growth rate lifts slightly to –0.6% in July from -0.67% in June. Twelfth month of negative prints, longest run in seven years (ex-COVID). Below-trend growth momentum set to extend into 2024. Some support from resilient labour market...
PBOC is expected to set the USD/CNY reference rate at 7.2878 – 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...