> BOJ raises economic assessment for 3 of Japan's 9 regions in latest Sakura report The other 6 regions see their previous economic assessment maintained <!--> Justin Low Monday, 10/07/2023 | 05:03 GMT-0 10/07/2023 | 05:03 GMT-0 --> <!--> Here's the...
Gold Price Steadies as US Dollar Under Pressure Ahead of CPI. Where to for XAU/USD?
Gold, XAU/USD, US Dollar, FOMC, Treasury Yields, Real Yields, US CPI - Talking PointsThe gold price might be at a crossroads with potentially conflicting signalsThe US Dollar appears vulnerable, but US Treasury yields remain highUS CPI this week could provide some...
A light one on the data docket today in Europe
It was the first time in 15 non-farm payrolls reports that the headline figure missed on estimates and that was enough to sink the dollar, despite Treasury yields moving higher. Equities were hopeful in the aftermath but ended the day at the lows with major indices in...
China says agrees to keep high-level exchanges with US after Yellen visit
Calls on US to take practical actions in response to China's major concernsThis relates to economic sanctions and crackdownsReiterates concerns on lifting of tariffs on China and suppression of Chinese companiesSays China's development is an opportunity, not a threat...
Federal Reserve speakers Monday include Barr, Daly, Mester and Bostic
It looks like Daly and Mester, scheduled to speak at the same time, are most likely to be making remarks pertinent to traders given the topics of what's coming up.1400 GMT/1000 US Eastern time: Federal Reserve Vice Chair for supervision Michael Barr speaks on "Bank...
Bank of England Governor Bailey speaking Monday evening UK 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,...
ForexLive Asia-Pacific FX news wrap: USD/JPY rose with higher JGB yields
News flow during the session was light. We did have a data focus, Chinese inflation data for June. China's wholesale price inflation, PPI, deepened in June:missed expectationsfell for a ninth consecutive monthfell at its fastest pace in 7 yearsMeanwhile the CPI was...
MUFG expect no policy tweak from the BOJ until the October meeting
The Bank of Japan meets on July 27 and 28. MUFG is not expecting any policy change or tweak to YCC at this meeting. But they do acknowledge muddled messaging from the BOJ. While Bank of Japan Governor Ueda said in Portugal at the European Central Bank's forum in...
RBNZ meet this week, on hold decision widely expected – preview
The Reserve Bank of New Zealand statement is due at 2pm New Zealand time on Wednesday July 12:which is 0200 GMTand 10 pm US Eastern time on Tuesday July 11Preview comments via Scoita:The Reserve Bank of New Zealand is widely expected to hold its target rate unchanged...
Chinese tech stocks are rallying – investors see an end to crackdown
On Friday Chinese regulators announced they were fining Ant Group 7.123 billion yuan ($985 million) for violating regulations in its payments and financial services.This is being viewed as an indicator that more than two years of scrutiny and crackdown on the firm...
China CPI for June 0.0% y/y (expected 0.2%) & PPI -5.4% y/y (expected -5.0%)
CPI and PPI both reflect weak demand in China. Both dropping from the May y/y figure. June CPI 0.0% y/yexpected +0.2%, prior +0.2%for the m/m -0.2%June PPI -5.4% y/y ... wholesale level deflation digs itself deeper into the holeexpected -5%, prior -4.6%for the m/m,...
PBOC sets USD/ CNY reference rate for today at 7.1926 (vs. estimate at 7.2132)
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...
Goldman Sachs says their “baseline view remains” that S&P500 will rise to 4500 by year-end
Goldman Sachs have shrugged off the gains in the S&P500 in H1 being based on the surge in a narrow group of stocks. "Our baseline view remains that the index will rise to 4500 by year-end as a result of modest earnings growth and a roughly flat multiple"This is...
RBC forecast the Federal Open Market Committee (FOMC) to raise Fed Funds rate 25bp in July
An unsurprising assessment from RBC Economics on the US data on Friday. The data links are in this post ICYMI:On the report in brief:Headline employment grew by a smaller 209k in June in the U.S., smaller than the downwardly revised 306k in May. The unemployment rate...
PBOC is expected to set the USD/CNY reference rate at 7.2132 – 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...
Fees to be cut on around 1500 mutual fund products in China
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,...
Chinese state media targets Goldman Sachs over “pessimistic” report
Chinese Communist Party back state media Securities Times targeted Goldman Sachs over the Bank's report on financial sector firms in the country.The Securities Times said the market should not take a bearish view on the report, that the Goldman Sachs piece was based...
Reserve Bank of Australia loses another senior official – Assistant Governor Luci Ellis
Luci Ellis was the Assistant Governor (Economic) at the Reserve Bank of Australia, a position she held since December 2016.Ellis is jumping to the private sector, replacing Bill Evans as head of Economics at Westpac. Ellis provided insightful analysis of the...
Nomura have 3 reasons to be long USD/CAD, target is 1.37
Nomura on the factors they believe will exert downward pressure on the Canadian Dollar (CAD). And discusses their long position on USD/CAD. Factors Exerting Downward Pressure on CAD 1. Softer Terms of Trade in Canada: Nomura believes that Canada's terms of trade,...
RBNZ policy meeting this week – NZIER Shadow Board recommends no change ot the cash rate
In brief from the New Zealand Institute of Economic Research 'Shadow Board' recommendation for this week's Reserve Bank of New Zealand meeting:Most Shadow Board members recommend the Reserve Bank should keep the Official Cash Rate (OCR) at 5.50 percent in the upcoming...