Last week, the NFP missed expectations for a second time in a row and the previous numbers were all revised lower. This was seen as a disappointment as the labour market seems to be a touch weaker than previously expected. Nevertheless, the unemployment rate fell once...
Trade ideas thread – European session 9 August 2023
Stocks were once again dealt a setback yesterday but it could've been worse. Some late dip buying helped to salvage losses in Wall Street but that still makes it five out of six days now that equities have ended on the wrong side in August. It is a bit of a check amid...
China woes remain the big risk for markets
As the focus stays on central banks and their policy decisions, it is easy to forget that while things are holding up well in the US, the risks of a hard landing seem rather far away. But if there is one thing that markets should not underestimate, it is the influence...
A rather bare calendar day coming up in Europe today
We are seeing steadier tones across the board for the most part, with some pushing and pulling in dollar pairs so far this week. It's just that time of the year and that is not leaving traders with much to work with before we get to the main event tomorrow.Dollar...
White House reportedly to detail plans restricting some US investments in China
This pertains to US investments in sensitive technology in China, with the aim being to prevent capital and expertise from helping to develop technologies that could support China's military modernisation. The source said that the long-awaited executive order is...
Forexlive Asia-pacific FX news wrap 8 Aug: China CPI/PPI both fall into negative territory
China's CPI and PPI fell into negative territory YoY for the first time since the 2020. China's Consumer Price Index (CPI) for July experienced a year-on-year decrease of -0.3%. However, there was a slight increase of +0.2% compared to June, Interestingly, this...
Steady tones as we look towards European trading
The only notable headlines so far today is from China once again, with the PBOC fixing the yuan much stronger and then stepping in to defend the currency after. Adding to that is more bad news on the economic front as not only is China now suffering from rather dead...
S&P: It is possible, but not certain, that Australia economy can manage a soft landing
S&P on Australia:It is possible, but not certain, that the Australian economy can manage a "soft landing" with inflation decreasing to the RBA’s target range.The key risk is that inflation in Australia is more sticky than expected and the RBA has to hike interest...
China’s major state owned banks seen selling dollars to buy Yuan
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 inflation expectation for 1 year 4.17% versus 4.28% % last quarter
> New Zealand inflation expectation for 1 year 4.17% versus 4.28% % last quarter New Zealand inflation expectation for Q3 <!--> --> <!--> 1-year inflation 4.17% versus 4.28% last quarter2-year inflation expectation 2.83% versus 2.79% last...
With the price action slowing in the Asian session, will activity pick up later today?
The price action is somewhat limited so far today. The PIP range for the major currency pairs shows EURUSD 19 pips. GBPUSD 23 pips. USDJPY 31pips.USDCHF 16 pips.USDCAD 18 pips. AUDUSD 23 pips.NZDUSD 22 pips.All are 30% of the normal range for the pair over the last...
EURUSD sellers lean on the test of the 100 hour MA
EURUSD stalls against the 100 hour MAThe EURUSD moved modestly higher in the early trading for the day and reached up to the 100-hour MA at 1.09687. Sellers leaned against the level keeping the sellers in play. The price is modestly off the level at 1.0963 currently....
China’s CPI MoM +0.2% vs -0.1% expected. YoY -0.3% vs -0.4% last expected
China CPIPrior month CPI YoY 0.0%Prior month CPI MoM -0.2%China CPI MoM for July 0.2% vs -0.1% expectedChina CPI YoY for July -0.3% vs -0.4% expectedChina PPI YoY for July -4.4% vs -4.1% expected. Prior month -5.4%The YoY falling below 0.0% is the first since February...
Japan 10 year yield falls to lowest level since July 28
The Japan 10 year yield is trading at new session lows and in the process as a fallen to the lowest level since July 28. Looking at the daily chart, the price is also within the gap created from July 28 to July 31 between 0.576% and 0.592%. A move below would open the...
PBOC sets yuan midpoint at 7.1588/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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China’s PBOC expected to set Yuan midpoint at 7.2198 per dollar
Yesterday PBOC set the USD/CNY midpoint at 7.1565People'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)....
Nikkei 225 opens lower by 0.10% at 32346.32
The Nikkei 225 is opening modestly lower by 0.10% at 32346.32. Seoul's Kospi is opening higher by 0.26%. Yesterday US stocks fell but close well off their lows:Dow industrial average fell -158.64 points are -0.45% at 35314.50S&P index fell 19.04 points are -0.42%...
AUDUSD sellers are more in control. Close risk is the 61.8% on daily and 100 hour MA
The AUDUSD traded to a new low since the beginning of June yesterday but bounced higher. Technically, the move to the downside broke back below the 61.8% retracement of the move up from the 2022 low at 0.65468. The price had been below that technical level for 3 days...
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