And, here we go, Suzuki comments on FX: No comment on recent fx levels, movesLast year's fx intervention had its effectClosely watching fx moves with high sense of urgencyWon't rule out any options for response to excessive fx volatilityClosely contacting with...
USD is a touch stronger against the yen, EUR, GBP heading into the Bank of Japan statement
Yields on US Treasuries are staying solid. Earlier on the 10-year hit 4.5% and its highest since 2007. The stronger USD is not uniform. AUD, CAd and NZD are all little changed while JPY, EUR and GBP are all off a few points. None of the moves are large. The Bank of...
BOJ meeting today will pave the way for a move in October and more in early 2024
Previews of the September Bank of Japan Monetary Policy Statement due today can be found here:ING have some insightful comments on what is likely today. The CPI data earlier has set the scene:Consumer price data for August was quite a bit stronger than early Tokyo...
PBOC sets USD/ CNY reference rate for today at 7.1729 (vs. estimate at 7.3009)
The 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...
Japan September preliminary Manufacturing PMI 48.6 (prior 49.6)
> Japan September preliminary Manufacturing PMI 48.6 (prior 49.6) <!--> --> <!--> --> more to come ADVERTISEMENT - CONTINUE READING BELOW <!--> Tags --> ADVERTISEMENT - CONTINUE READING BELOW <!--> Most Popular ADVERTISEMENT -...
PBOC is expected to set the USD/CNY reference rate at 7.3009 – Reuters modelled 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...
More on Japan PM Kishida’s moves to spur competition in asset management industry
The headlines on this were earlier in the week:These were a heads up to a speech the Prime Minister was to give in New York. Which he has now done. Our patience paid off any now we have more details (Reuters here for much more):Japanese Prime Minister Fumio Kishida...
ECB’s Lane: Inflation over 2% is costly for the economy
European Central Bank chief economist Lane spoke earlier:Now in Q&ACentral banks try to hit inflation in the medium termInflation over 2% is costly for the economySays won't be speculating on future European Central Bank policy movesthe most efficient wat to...
Japan August Inflation: CPI excluding fresh food & energy +4.3% y/y (prior +4.3%)
> Japan August Inflation: CPI excluding fresh food & energy +4.3% y/y (prior +4.3%) <!--> --> Eamonn Sheridan Thursday, 21/09/2023 | 23:30 GMT-0 21/09/2023 | 23:30 GMT-0 <!--> --> more to come----The big event out of Japan today is the Bank of...
LNG strikes – Australian media report that Unions have agreed to end dispute with Chevron
The media report doesn't cite sources but says that the LNG union have agreed to endorse recommendations made by the industrial umpire to end dispute with Chevron.And that the Union will agree to call off strikes at Chevron facilities. more to comeMoneyMaker FX EA...
Australian preliminary PMIs for September: Manufacturing 48.2 & Services 50.5
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,...
ECB’s Lane says transmission of monetary policy to the real economy is firmly taking hold
European Central Bank chief economist Lane: Sees staggered reset of prices and wages across the economy, a process which is ongoing.Dynamics of wages and profits in the coming quarters still an open questionThe transmission of our monetary policy to broader financing...
New Zealand August exports NZD 4.99bn (prior $5.45bn) & Imports NZD 7.28bn (prior $6.65bn)
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,...
There’s a Saudi put in the energy markets, oil heading to $100 / barrel
Comments come from Mark Fisher, founder and CEO of MBF Clearing Corp., a large futures commission merchant (FCM)He was interviewed on CBNC on Thursday."There used to be the Greenspan put to the equity markets. I think there's a Saudi puts in the energy markets, to...
ICYMI – Russia is banning exports of gasoline and diesel
In recent months, Russia has suffered shortages of gasoline and diesel. This has seen wholesale fuel prices spiking higher, although the flow through to retail prices has been limited due to price caps. The military demand for the fuels has jumped, of course. Russia...
NZD traders heads up – New Zealand moves onto daylight saving this weekend
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,...
Bank of Japan statement due today – previews – Ueda under pressure on weak yen
Preview comments via:Bank of Montreal:while Friday’s decision is widely expected to feature an unchanged policy stance, monetary policymakers in Tokyo have historically not been beholden to the consensus. On the one hand, Ueda must consider the performance of the yen...
ICYMI – Goldman Sachs pushes back expectation of first Fed rate cut to Q4 2024 (from Q2)
If you didn't get the memo its 'higher for longer' for the Federal Reserve:Justin posted on the Goldman Sachs rate cut expectation revision here:Goldman Sachs were previously forecasting the first FOMC cut in Q2 of 2024. Adding in a little more now from GS...
Forexlive Americas FX news wrap 21 Sep: Stocks hit the skids as US yields surge
The early US session saw the Bank of England keep rates unchanged by a vote of 5 – 4. That was congruent with the 50-50 chance of a hike. The GBPUSD fell on the news reaching a low of 1.2227 before starting a rebound to the upside that saw the pair move to a post-low...
New Zealand data – Westpac Consumer Confidence for Q3 2023: 80.2 (vs. prior 83.1)
Weak consumer sentiment in New Zealand got weaker in the third quarter of 2023.Yesterday we had better than expected economic growth reported:The revision to the Q1 data included had implications for the recession in New Zealand:NZD/USD is being shoved around by...