It cannot be ruled out that we will need to further hike interest ratesThis comes despite the June inflation figure falling back to the SNB's target for price stability, which is defined between 0% and 2%. The data in the next few months is going to be key in...
Gold Slips After FOMC Minutes; XAU/USD Scenario Ahead of US Jobs Data
Gold, XAU/USD – Outlook:XAU/USD fell after minutes of the FOMC meeting in June reinforced expectations of higher interest rates.XAU/USD’s slide appears to be losing steam ahead of US jobs data due Friday.What are the levels to watch in XAU/USD? Recommended by Manish...
Equities mood continues to struggle ahead of European trading
The return of Wall Street yesterday didn't inject much optimism into markets as it seems growth worries are starting to weigh again. The Fed minutes also hinted that a July rate hike is likely on the cards, but that shouldn't be anything new to markets in general....
FX option expiries for 6 July 10am New York cut
There is one to take note of, as highlighted in bold.That being for USD/JPY at the 144.00 mark, which could be a reason for the drag in price action at the moment with price falling to around 144.09 currently. The pair is down 0.4% on the day with not much else going...
A couple of light releases coming up in the session ahead
The dollar saw a decent bid in trading yesterday, backed by softer risk sentiment in markets. Equities held lower upon the return of Wall Street and we are seeing that negativity persist to today. US futures are down roughly 0.3% and the greenback is once again...
More on China’s state media commentary on tools to deal with ‘panic’ yuan sell off
It's a mystery to me why the People's Bank of China would be referring to a panic sell in yuan, and yet here we are:It's a surprising remark, intended to calm fears over further rapid selling of the RMB and stabilize the currency. For today CNH has been showing signs...
ForexLive Asia-Pacific FX news wrap: USD/JPY a little lower on the day
Session wrap Forex news for Asian trading on Thursday, 6 July 2023 <!--> Eamonn Sheridan Thursday, 06/07/2023 | 03:00 GMT-0 06/07/2023 | 03:00 GMT-0 --> It was a narrow range day for major FX during the Asia session. The data agenda was very light, with a...
Germany’s Bundesbank President (and ECB Governing Council member) Nagel speaking Thursday
Germany's Bundesbank President (and European Central Bank Governing Council member) Nagel is speaking on Thursday, 6 July 2023. 1600 GMT/1200 US Eastern time Nagel speaks at the DEKRA Dialog eventDEKRA is a global vehicle inspection company based in Germany, known for...
RBA is expected to hike by +25bp in August according to 23 of 25 analysts – Reuters poll
The next Reserve Bank of Australia meeting is August 1. Reuters polled 25 analysts, 23 expected a +25 bp rate hike, to 4.35%2 expect a pause 10 of 22 expect the RBA to raise rates once more in September, taking rates to 4.60% by the end of this quarter. The other 12...
Federal Reserve speakers today include Dallas branch President Logan
Federal Reserve Bank of Dallas President Lorrie Logan is the only Fed speaker I have on the agenda. Perhaps others will pop up in media interviews.At 1245 GMT/ 0845 US Eastern time Logan participates in the "Policy Challenges for Central Banks" panel before the 2023...
JP Morgan say there’s a risk that the Bank of England will push interest rates to 7%
JP Morgan economists say their central forecast is a rise to 5.75% (hitting there in November) but warn there are 'potential upside to rates if expectations do become unanchored or remain high'. Which could force the BoE to lift to 7% and precipitate a hard landing...
Australian exports in May +4% m/m (prior -5%) & Imports +2% (prior +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,...
PBOC reference rate of 7.2098 is much lower than the 7.2510 expected
The reference rate setting is here:Which is another mid-rate way below what was expected. In open market operations (OMOs) the PBOC injects 2bn yuan via 7-day reverse repos (RRs) at an unchanged rate of 1.9% 193bn yuan of RRs mature today thus a net 191bn yuan drain...
PBOC sets USD/ CNY mid-point today at 7.2098 (vs. estimate at 7.2510)
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...
Bank of America sees a broader breadth US equity rally in 2023 H2
Comments via Bank of America on US equities - market breadth and funds inflowBoA expects stocks other than tech to join in the rally in H2“Just to get to the historical average 12-month breadth of 50% by year-end, about a quarter of stocks in the S&P 500 would...
[7월 5일부터~은행 통장 1개라도 있다면..이렇게 싹~다 바뀝니다!! ]#3.1경제독립tv
https://www.youtube.com/watch?v=t5QaHaAHwjY [7월 5일부터~은행 통장 1개라도 있다면..이렇게 싹~다 바뀝니다!! ]#3.1경제독립tv 나에게 힘이되는 "돈되는 복지정보"!! 최신 "재테크 소식"을 가장 빠르고, 정확하게 받고 싶다면 3.1경제독립tv" "좋아요", "구독", "알림설정" 부탁드리겠습니다! 감사합니다 ^_^~ [3.1경제독립...
US jobs report is due on Friday, 7 July 2023 – NFP preview
A snippet from Deutsche Bank previewing the nonfarm payroll report due at 8.30 am US Eastern time on Friday, 7 July 2023. With the headline number ranging from +217k to +472k over the last 6 months, these are not currently close to recessionary levels. However, the...
PBOC is expected to set the USD/CNY reference rate at 7.2510 – 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...
A forecast for EUR/USD back to parity by the end of 2023 due to EU economy deteriorating
Snippet via Capital Economics on their EUR/USD view:We expect the euro to depreciate markedly on the back of a further deterioration in economic activityUSD to appreciate, Capital Eco say, citing their pessimistic outlook for major developed market economies (US and...
ICYMI: Iran attempted to seize two oil tankers near the Strait of Hormuz – shots fired
ICYMI - Reports on Wednesday, US time, that Iran tried to seize 2 oil tankers near Strait of Hormuz. Shots were fired at one of the tankers. The U.S. Navy conveyed the information, saying Iran tried to seize two oil tankers near the strategic Strait of Hormuz early on...