And after all the anticipation and action yesterday, we're pretty much back to the drawing board again. The dollar weakened initially after the US CPI report but rebounded strongly and continues to sit in a good spot. USD/JPY in particular is one to note as it is...
Forexlive Asia-pacific FX news wrap 10 Aug: The NZD moves lower after weak PMI data
The end of the week saw little in the way of price action. With Japan on holiday, that certainly did not help the forex market either. The first part of the trading day has the AUD as the strongest of the major currencies, and the NZD as the weakest (see video on the...
How has the Fed pricing changed after the inflation numbers yesterday?
And that probably says a lot more than it should. Once again, the second key hurdle ahead of the FOMC meeting next month just serves to validate the current market pricing more than anything else. That being no more rate hikes for this year and a rate cut to come...
NZDUSD trades toa new low for the week and trades below the 50% midpoint
The NZDUSD is trading to a new low for the week and in doing so to the lowest level since the end of June/beginning of July. The price is also below the 50% midpoint of the move up from the 2022 low to the 2023 high at 0.6024. Stay below is more bearish.The next...
What are the charts telling us for the EURUSD, USDJPY and GBPUSD?
The FOREX markets are quiet in the Asia-Pacific session. Japan is on holiday contributing to the lackluster price action. Yesterday's US CPI data whipped traders around as well as the initial reaction was to the downside in the greenback, and then reversed back to the...
Reuters poll: ECB to hold deposit rate at 3.75% on September 14 say 37 of 70 economists
A poll of 70 economists done by Reuters shows:37 of 70 expect the ECB to hold the deposit rate at 3.75% on September 14In addition a slim majority see ECB deposit rate of 4.0% by the year-endSo near 50% for a hike in September, and near 50% for one more hike by the...
Shipments of smart phones within China down 24.1% year on year
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,...
Hong Kong’s Hang Seng index to open up 0.4% at 19319.91. Shanghai composite to open flat
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 yuan midpoint at 7.1587/dollar.
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,...
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More Lowe: To get inflation to target in 2024 would require substantially higher rates…
More from RBAs Lowe:To get inflation to target in 2024 would require substantially higher rates and not be in the national interest.Understandable that community thinks peak for rates is now or close at handThe RBA has kept the rate steady at 4.10% for two consecutive...
PBOC expected to set Yuan midpoint at 7.2193 per dollar
The PBOC is expected to set Yuan midpoint at 7.2193 per dollar. The last two days' estimates were much lower when the official midpoint is set. The estimate yesterday was at 7.2023, with the actual set at 7.1576.The prior day estimate was at 7.2198 and set at...
More from RBA’s Lowe: Rates are restrictive so we are in a calibration stage with policy
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,...
RBA Lowe: Things are moving in the right direction. Too early to declare victory
Prepared remarks from RBA Gov. Lowe It is too early to declare victory on inflation, but things are moving in the right direction.The board is mindful that interest rates have been increased by a large amount in a short period of time and that there are lags in the...
RBAs Lowe and other speak before the House of Representatives at the bottom of the hour
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New Zealand food price index for July -0.5% versus 1.6% last month
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,...
New Zealand manufacturing PMI for July 46.3 versus 47.5 last month
Prior month 47.5New Zealand manufacturing PMI for July 46.3The index is at the lowest level since January 2023 when it came in at 46.2. It marked the 5th straight month of contraction.In July, New Zealand's manufacturing sector contracted, with a PMI of 46.3, marking...
Trump says trial on 2020 election case should wait until after 2024 election
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,...
Economists forecast a steady 5.50% OCR for the RBNZ’s upcoming meeting
A poll of economists in New Zealand:Expect the RBNZ will keep the Official Cash Rate (OCR) steady at 5.50% during its upcoming meeting next week. Additionally, the poll suggests that there will be no changes in interest rates until at least the end of March 2024. The...
WSJ: Senator Joe Manchin weighs leaving the Democratic Party
The WSJ reports that Sen. Joe Manchin (D., W.Va.) is contemplating a departure from the Democratic Party to become an independent. During a West Virginia radio program, Manchin expressed his considerations, stating, “I would think very seriously about that. I’ve been...