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
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 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...
US Sec. of State Blinken: The release of Americans in prison in Iran is a positive step
US Secretary of State Blinken:Release of Americans in Iran from prison is a positive stepThis is just the beginning of a processMore work to be done to bring the Americans in Iran homeIran will not be receiving any sanctions reliefUS will continue to enforce all of...
The EUR ends day as the strongest and the JPY is the weakest
The strongest to the weakest of the major currenciesThe EUR and CHF are neck-and-neck for the strongest of the major currencies, while the JPY is the weakest. The USD initially moved lower after the CPI data, but quickly snapped back to the upside. The EURUSD erased...
Feds Harker:The Fed is making progress on its inflation fight
Harker says that the Fed is making progress on inflation. Earlier this week, Harker said that he thought it might be time that the Fed can hold rates steady. Other thoughts from earlier this year:Rate Cuts: Harker anticipates that rate cuts might begin sometime next...
A look at the economic calendar for August 11
NZD (New Zealand Dollar)6:30pm: BusinessNZ Manufacturing Index - 47.56:45pm: FPI m/m - 1.6%GBP (British Pound Sterling)2AM: GDP m/m - 0.2% (Previous: -0.1%) Prelim GDP q/q - 0.0% (Previous: 0.1%)2 AM: Construction Output m/m - 0.0% (Previous: -0.2%)2 AM: Goods Trade...
Forexlive Americas FX news wrap: CPI on the light side but dollar rallies anyway
Markets:Gold down $1.60 to $1913WTI crude oil down $1.66 to $82.73US 10-year yields up 9.5 bps to S&P 500 up 1 point to 4469EUR leads, JPY lagsIt was a tough one to make sense of.The US CPI report was lower than anticipated and the kneejerk was exactly what you...
US major indices give up most of the day’s gains and closes near(er) lows
US major indices gave up most of their gains and closed near(er) the lows for the day. There was a spike at the open on the back of the CPI data, but rates started to move higher with the 2-year now up 4.6 basis points, the 10-year up 9.9 basis points, and the 30-year...
Yen weakness continues to be the trade that keeps on giving but resistance looms
Today has certainly been a volatile day in the foreign exchange market but when you zoom out, not much has changed. The dollar is basically flat on the day with one single exception:USDJPY dailyThe yen is the only real mover today, perhaps with some GBP weakness as...
Fed’s Bostic: I don’t know how persistent pandemic labor market changes will be
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,...
Crude oil falls back below $83 after touching a nine-month high
WTI crude oil dailyWTI crude oil is threatening an outside bearish reversal after touching a fresh 9-month high and then slumping below yesterday's low of $82.67.So far, it's back above that level but it may be a close call by the time of the end of electronic...
US July federal budget deficit $221.0 billion vs -109.3 billion expected
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,...
Bonds bleed after a weak auction, USD/JPY climbs higher
Bill Ackman no doubt cheered on the result of today's 30-year auction. He advertised a bond bearish bet last week and price action hasn't been great for him so far.That might have changed with weak demand at a $23 billion sale of 30s at an auction today. It tailed by...
Fed’s Collins: We are near or perhaps at a sufficiently restrictive level of rates
Nick Timiraos is out with a new article in the Wall Street Journal and he cites an interview with the Fed's Collins from Monday and her saying:“My read of the data that we have so far is that we are near or perhaps at a sufficiently restrictive level of monetary...