Seiji Adachi is Member of the Policy Board of the Bank of Japan.inflation has risen faster than I expectedits too early to tweak monetary policyour baseline price scenario is bound with uncertaintythere are upside and downside risks to our price outlook, and...
Heads up for two BOJ speakers ahead: Adachi just minutes away, Gov Ueda later
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 USD/ CNY mid-point today at 7.1795 (vs. estimate at 7.1802)
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...
Australian leading index -0.27% m/m (prior -0.03%)
Westpac-Melbourne Institute Leading Index for May 2023, main points made by WPAC on their data:The six-month annualised growth rate in the Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine...
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PBOC is expected to set the USD/CNY reference rate at 7.1802 – 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...
U.S. President Joe Biden on Tuesday called Chinese President Xi Jinping a dictator
Reuters headline of Biden saying the quiet part out loud.Via Reuters: U.S. President Joe Biden on Tuesday called Chinese President Xi Jinping a dictator, adding that Xi was very embarrassed when a Chinese balloon was blown off course over the U.S. recently. Biden made...
BOJ Minutes show belief that current monetary policy easing should be maintained (d’uh)
Bank of Japan April 2023 meeting MinutesHeadlines via Reuters: A few members pointed out that past price increases in commodities and raw materials continued to be passed on to consumer prices with a time lagA different member said that, in addition to a pass-through...
Chinese financial media cites analysts expecting further rate and RRR cuts this 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,...
Japan – Reuters Tankan 3rd consecutive month of large manufacturer sentiment improving
Reuters tankan results for June 2023. Reuters polled 493 large companies, of which 232 responded.big manufacturers' sentiment index +8 (vs +6 in May), up 3 months in a row and the second in a row in positive territory index is expected to rise to +13 in...
More on testimony from Fed’s Cook & Jefferson: critical, essential to bring down inflation
Federal Reserve Governor Lisa Cook and governor and vice chair nominee Philip Jefferson face a Senate Banking Committee confirmation hearing on Wednesday.Prepared remarks have been released, summary post here:Full text of their respective testimonies can be found...
ECB’s Simkus said he wouldn’t be surprised in the Bank hiked rates again in September
Chairman of the Central Bank of Lithuania & Member of the ECB Governing Council Gediminas Simkus spoke with MNI (gated), his pertinent remarks conveyed via Reuters:"We need to provide very credible monetary policy to make sure that we fulfil our mandate... our 2%...
New Zealand fin min Robertson says Economic environment remains challenging
New Zealand Finance Minister Grant Robertson: Economic environment remains challengingProjections for budget spending are ‘responsible’Not prepared to deliver an austerity budget Last week we received data from NZ confirming an economic recession. Robertson is correct...
ECB’s Rehn warned that underlying inflation pressures are only falling gradually
Olli Rehn is the Finnish central bank governor and thus a member of the governing council of the European Central Bank.From a press release issued Tuesday:“The rise in consumer prices in the euro area is slowing, but not to the extent desired,” “Inflation excluding...
ECB’s Vujčić said Bank will work to bring inflation down, soft landing not always possible
Boris Vujčić Governor of the Croatian National Bank and thus an European Central Bank Governing Council member. He spoke on Tuesday:Core inflation pressures are lingering in the euro zoneThe European Central Bank must weigh the costs of doing too much against doing...
Goldman Sachs on EUR/CHF – see it lower
This is via the folks at eFX. For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. Goldman Sachs believes that markets are somewhat underestimating the significance of...
Morgan Stanley on stocks, say excitement, buying happening at an “inopportune” time
Morgan Stanley analysts have been sternly disapproving of the bull move for stocks for, well, it seems like forever. And still are. From a Tuesday note:“Investor sentiment and positioning has turned 180 degrees at an inopportune time, in our view”MS cite concerns that...
Forexlive Americas FX news wrap 20 Jun: US housing starts/building permits soar.
US traders returned to the stock and bond markets today after the Juneteenth holiday yesterday. Of course, the forex market never sleeps so it was open yesterday, but price action was more limited. The strongest to weakest of the major currenciesToday, the forex...
Cava Stock Doubled on IPO. Now is the Moment to Make Money on Greek Food
In 2023, we’ve heard the word “IPO” pretty rarely. That was until, restaurant chain Cava went public and pushed to get the word out. The company's stock doubled on the first day on the New York Exchange. Let’s find out more about Cava, its plans for the future, and...
Goldman Sachs ramp up their S&P500 forecast to 4,700
Goldman Sachs have issued revised forecasts for the S&P 500 over 3-, 6-, and 12-month horizons:4300, 4500, 4700 respectivelyGS cite an increased risk appetite among investors due to inflation "continuing to reset", and enthusiasm about AI. In summary from the...