Considering the broader market focus, there might be little action seen in European trading today. The mood in equities continues to err towards the softer side after yesterday's decline, which could have been worse but for some late bids in the US. The prevailing...
US non-farm payrolls in focus today
And that is likely to keep markets on edge until we get to the main event at 1230 GMT. As such, European trading in the session ahead may not feature much movement as traders will reserve their conviction until after the fact. That said, the ADP figures here yesterday...
European Central Bank President Lagarde speaking Friday – Nagel, de Guindos also
European Central Bank speakers on the agenda for Friday, 7 July 2023. Nagel and de Guindos look the most likely to make market pertinent comments:1200 GMT/0800 US Eastern time: European Central Bank policymaker and Bundesbank President Joachim Nagel takes part in a...
Bank of England Monetary Policy Committee member Mann speaks 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,...
ForexLive Asia-Pacific FX news wrap: Awaiting the US jobs report, after an ADP blockbuster
Major forex rates traded in small ranges only today as traders in the region assessed the stunning jobs numbers from the US on Thursday and what the implications may be for the nonfarm payroll report due Friday morning US time.Data locally in the timezone was from...
[새마을 금고 어쩌나?? 새마을 금고에 맡긴 내 돈!! 불안하다면…은행가서 이렇게만 하세요!!]#3.1경제독립tv
https://www.youtube.com/watch?v=-K1akzYUYlY [새마을 금고 어쩌나??새마을 금고에 맡긴 내 돈!! 불안하다면...은행가서 이렇게만 하세요!!]#3.1경제독립tv 나에게 힘이되는 "돈되는 복지정보"!! 최신 "재테크 소식"을 가장 빠르고, 정확하게 받고 싶다면 3.1경제독립tv" "좋아요", "구독", "알림설정" 부탁드리겠습니다! 감사합니다...
Chinese investors rushing offshore to make USD deposits – putting yuan under more pressure
Reuters with the info on outflows from China: The outflows highlight deep-seated concern about the state of China's economy as its much-awaited pandemic recovery stalls.Mainland Chinese holdings under a nascent scheme allowing investment in Hong Kong and Macau wealth...
China’s Finance Ministry urges the US to act to develop better trade ties with China
US Treasury Secretary Yellen is in China at present. China's Finance Ministry statement:We hope that the United States will take "concrete steps" to create a favourable environment for the healthy development of economic and trade ties between China and the USNo...
ICYMI – OPEC chief says the search is on for new members on the oil cartel
Haitham al-Ghais, secretary-general of the Organization of Petroleum Exporting Countries (OPEC), signaled this week that the producers’ group is actively open to new members.He said he is actively trying to expand the group. On requirements to become an OPEC...
Shockingly strong jobs numbers from the US on Thursday – Goldman Sachs shrugs them off
The ADP number came in super-strong in data from the US on Thursday:Goldman Sachs shrugged it off:We suspect a distortion in the ADP seasonal factors contributed to the strength, as ADP employment growth had picked up in June in 6 of the last 7 yearsWe left our...
PBOC sets USD/ CNY reference rate for today at 7.2054 (vs. estimate at 7.2423)
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...
[새마을 금고에 맡긴 내 돈!! 불안하다면…은행가서 이렇게만 하세요!!]#3.1경제독립tv
https://www.youtube.com/watch?v=-K1akzYUYlY [새마을 금고에 맡긴 내 돈!! 불안하다면...은행가서 이렇게만 하세요!!]#3.1경제독립tv 나에게 힘이되는 "돈되는 복지정보"!! 최신 "재테크 소식"을 가장 빠르고, 정확하게 받고 싶다면 3.1경제독립tv" "좋아요", "구독", "알림설정" 부탁드리겠습니다! 감사합니다 ^_^~ [3.1경제독립...
China state media says yuan will be defended if it depreciates too rapidly
China Daily with the report saying that Chinese authorities are closely watching renminbi exchange rate movement and would take further action to defend the currency if it depreciates too rapidly amid the seemingly unfinished US rate hike cycle, experts said on...
PBOC is expected to set the USD/CNY reference rate at 7.2423. – 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...
RBC have lifted their year-end forecast for USD/JPY to 150. Previously were at 145.
RBC have moved their end-2023 USD/JPY forecast to 150 from their previous call for 145. RBC says that the July Bank of Japan meeting will be a disappointment for those expecting a policy adjustment from the Bank. RBC adds, though, that they do expect the BOJ to adjust...
Japan data: May inflation-adjusted wages down 1.2% y/y. May Household spending down 4% y/y
Wages data from Japan is not supportive of demand-induced inflation. Cash earnings +2.5% y/y expected +0.7%, prior +0.8%But in real terms, adjusted for inflation wages are down 1.2% y/yHousehold spending data is also lacklustre, coming in at -4.0% y/yexpected -2.4%,...
More on BOJ Dep Gov Uchida and a July ‘tweak’: “We will continue YCC” for the time being
The headline comments from Bank of Japan Deputy Governor Uchida are here:Its from the Nikkei, which is usually gated, but if you can access it here is the link:Yeah, he isn't indicating any near-term change to YCC:Uchida said he was "very aware" of yield curve...
“Mr. Yen” Sakakibara says USD/JPY could soar beyond 160 before intervention from the BOJ
Former Japanese Vice Finance Minister Eisuke Sakakibara comments on USD/JPY reported via Bloomberg (gated):“It may go beyond 160, maybe next year,” At levels around 160 per dollar, authorities “may be tempted to intervene to strengthen the yen.”On the Bank of...
UBS says US equity market is too upbeat on the Fed achieving a soft landing for economy
Via a note from UBS Wealth Management on the S&P500, noting the stalling rally this week after a strong YTD. In brief from the note:the market is too upbeat about the prospect that the Fed can achieve a soft landing for the US economy Risks remain that the Fed...
Meta launched a new Twitter. However, is it Important for the stock market?
While Twitter felt sick in the first week of July, Facebook announced Threads, its microblogging service with a new and exciting feature – no Elon Musk. Let's delve into how the release of this new mobile app could potentially impact the financial markets.Twitter...