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,...
ForexLive Asia-Pacific FX news wrap: Awaiting the Swiss National Bank and Bank of England
Session wrap Forex news for Asian trading on Thursday, 22 June 2023 <!--> Eamonn Sheridan Thursday, 22/06/2023 | 02:56 GMT-0 22/06/2023 | 02:56 GMT-0 --> Mainland China and Hong Kong were both closed for a holiday today, Dragon Boat Festival. This sapped...
European Central Bank officials Panetta and de Guindos are speaking today
There are always more speakers than those I manage to list. They're a slippery bunch. Here's what I have for the session ahead:0915 GMT/0515 US Eastern time: Speech by ECB board member Fabio Panetta at fifth annual joint conference of the Deutsche Bundesbank, European...
Swiss National Bank policy meeting today – alternative paths for CHF – hawkish vs. dovish
Credit Suisse analysts outline two alternatives for the SNB and thus the impact on the Swissy:Hawkish scenario assessed at a 60% likelihood:CS argue that given the recent trend of decreasing headline and core inflation rates, an increase of 50 bps would strengthen the...
Federal Reserve Chair Powell speaks again Thursday, & a barrage of other Fed officials too
It occurs to me that I need a better collective noun than 'barrage' for a group of Federal Reserve talking heads. And, who better to ask than the good folks of ForexLive? In the comments please!A hike of Fed officials? A chatter? Help me out here ...---Coming up, the...
Asia Day Ahead: Fed Chair Took the Stage with Hawkish Comments
Recommended by IG Traits of Successful Traders Get My Guide Federal Reserve (Fed) Chair Jerome Powell took the stage yesterday with a series of hawkish comments and while the Fed funds futures did not see much of a change in terms of rate expectations, US equities...
Bank of Japan’s Noguchi says Japan’s economy is to recover moderately
BOJ monetary policy board member Noguchi speakingSays Japan's economy is to recover moderatelythe global economy and markets are a risk to Japan's outlookthe shape of the yield curve is now smooth as a wholenew guidance shows the BOJ's strong commitment to patiently...
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Bank of England Monetary Policy Committee meeting preview – Nomura expect a 25bp rate hike
Nomura say to expect a 25 bps rate increase from the Bank today, followed by additional rate increases in August and September. Nomura say there was a chance the Bank was going to do nothing in June, but that evaporated due to last week's positive labour market...
Chinese Vice Premier He Lifeng said the economy has recovered and turned for the better
A Chinese media report on Chinese Vice Premier He Lifeng meeting with Singapore's Temasek Chairman Lim Boon Heng earlier this week in Beijing.He is a member of the Political Bureau of the Communist Party of China Central Committee and close to President Xi Jinping....
BoA on the Federal Reserve’s FOMC, “pay particularly close attention to Governor Waller”
A snippet from a piece via Bank of America on who to listen to at the Federal Open Market Committee (FOMC), singling out Federal Reserve Board Governor Christopher WallerBoA note that according to Waller "core inflation is just not moving and that’s going to require...
Bank of England Monetary Policy Committee preview: Where to for GBP? 3 scenarios.
The consensus expectation for the meeting of the Bank of England's Monetary Policy Committee today, Thursday, 22 June 2023, is for a 25bp rate hike. The announcement is due at 1100 GMT, which is 0700 US Eastern time.I posted earlier on the bleak task facing the...
Reminder – Mainland China and Hong Kong are out on holiday today
I posted this earlierBut ICYMI, a reminder!Its Dragon Boat Festival day and markets are closed in China and HK. For FX markets, open as usual today are New Zealand, Australia, Japan and Singapore. The absence of HK will drain a little liquidity from FX markets....
Poll shows Japanese firms remain deeply pessimistic
The results of the latest Reuters Corporate Survey, conducted for Reuters by Nikkei Research, has been published. From the report's part on the business environment::corporate managers turned slightly less pessimistic, with 74% saying conditions would be "not so good"...
NZ data: May Exports NZD 6.99bn (prior 6.8bn) & Imports 6.95bn (prior 6.38bn)
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,...
JP Morgan preview Bank of England rate hike coming today: BoE have to create a recession
First from the JP Morgan preview of the Bank of England Monetary Policy Committee meeting coming up Thursday, 22 June 2023. UK inflation points to a cruel, cruel summerwe strongly feel that the BoE should hike 50bpsHowever, with no forward guidance on the issue .. we...
The Australian government will finalize its decision on the next RBA governor within weeks
Australian Treasurer Chalmers' statement on the central bank .Current Reserve Bank of Australia Governor Lowe's term expires in September. He has made some bad missteps during his tenure, including the foolish promise () to the Australian people back in 2020 that the...
Fed insider shares on his interview with Chicago head Goolsbee
Federal Reserve Bank of Chicago President Austan Goolsbee spoke with the Wall Street Journal's Nick Timiraos.Greg had a summary post here (its comprehensive):But if you'd like to see the full interview it can be found here on Twitter (I haven't figured out how to...
Goldman Sachs gives 5 reasons to add downside protection to equity holdings
A note on Wednesday from Goldman Sachs reiterates the firms projection for the S&P500 to rise to 4,500 by year-end 2023 and to 4,700 in 12 months.Goldman Sachs do, however, add a but. Analysts at the firm acknowledge that some portfolio managers expect a recession...
Private oil survey data shows headline crude oil draw
The inventory data from the private survey is out now, official data follows Wed. morning (US time).Via Twitter:Expectations I had seen centred on:Headline crude +0.3 mn barrelsDistillates +0.7 mn bblsGasoline +0.1 mn-This data point is from a privately-conducted...