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ForexLive Asia-Pacific FX news wrap: BOJ unscheduled bond buying boosts yen crosses
Federal Reserve Bank of Chicago President Austan Goolsbee is speaking Monday 31 July 2023Bank of Japan Governor Ueda appoints new head to monetary policy development departmentAUD has popped a little on the marginal improvement for China's manufacturing PMIAustralian...
Federal Reserve Bank of Chicago President Austan Goolsbee is speaking Monday 31 July 2023
Coming up at 1320 GMT, which is 9.20 am US Eastern time:Federal Reserve Bank of Chicago President Austan Goolsbee participates in an interview on "Yahoo! Finance Live."Goolsbee tends to be a touch less hawkish than his colleagues. I suspect he will emphasise the 'data...
Bank of Japan Governor Ueda appoints new head to monetary policy development department
The Bank of Japan has a new head of the department that oversees the drafting of central bank policy.Kazuhiro Masaki is described as an expert on monetary policy with experience in market operations. He is the newly appointed head of the monetary affairs department:in...
AUD has popped a little on the marginal improvement for China’s manufacturing PMI
A couple of AUD-relevant data points:The headline to this post could well be a bit of a stretch, yes the manufacturing PMI improved a touch. But its still in contraction and the non-manufacturing PMI dropped on the month. The manufacturing PMI has been under 50 now...
Australian data – June Private Sector Credit +0.2% m/m (expected 0.4%, prior 0.4%)
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China official July Manufacturing PMI 49.3 (vs. expected 49.2) & Services 51.5
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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PBOC sets USD/ CNY reference rate for today at 7.1305 (vs. estimate at 7.1524)
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...
The Bank of Japan announces an unscheduled JGB buying operation
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,...
Australian private inflation gauge for July 0.8% m/m (prior 0.1%)
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 July Business Confidence -13.1% (prior -18%)
ANZ New Zealand Business Survey for July 2023Business Confidence -13.1% (prior -18%)Activity Outlook +0.8% (prior +2.7%)more to comeANZ comments:The economy is slowing, but certainly not coming to a sudden stop. Inflation indicators mostly crept slightly lower, but...
UBS on Bank of Japan Yield Curve Control – ceiling seems to be 1%
The Bank of Japan maintained its +/- 50bp tolerance band for the 10 year JGB at Friday's meeting.The 'but' on this is the Bank said it wanted the YCC policy to be more flexible. This the +/- 0.5% tolerance band is now a 'reference', not a hard limit. . , and said...
PBOC is expected to set the USD/CNY reference rate at 7.1524 – 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...
Japan Industrial Production (June, preliminary) +2.0% m/m (vs. expected +2.4%)
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,...
Japan Retail Sales (June) +5.9% y/y (vs. expected +5.9%)
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,...
Goldman Sachs reaffirm their Brent $86 forecast (Dec), cite demand return, growth optimism
A note from Goldman Sachs on oil, analysts restating their forecast for Brent crude oil at $86/barrel by December this year. Record high demand and Saudi supply cuts have brought back deficitsThe market has abandoned its growth pessimismGlobal oil demand reached a...
Chinese Communist Party media outlet warns Australia on ‘too high’ costs of ties with US
China's Chinese Communist Party media outlet Global Times with an article regarding Australia / US talks over the weekend. US and Australia held the "2+2" meeting ... After the meeting, the two sides announced a series of defense cooperation plans to strengthen and...
Fed’s Kashkari: “If we need to hike- raise rates further from here, we will” – full text
Minneapolis Federal Reserve Bank President Neel Kashkari spoke with CBS News in an interview on Sunday.I posted the main points here earlier:The full transcript of the interview is available here if you'd like more details:We need to get inflation all the way back...
JPMorgan says they are remaining bearish on the Japanese yen after the BOJ last week
JPMorgan affirmed it was remaining with its bearish vioew on the JPY In their note JPM said that while the yen could gain ground to some extent in the short run, they analysts don't see the Bank of Japan fundamentally altering its loose monetary policy stance for as...