We had Q3 CPI data from New Zealand today, showing that its inflation rate dropped back into the Reserve Bank of New Zealand’s target band for the first time since early 2021. The CPI is also encouraging for the central bank as it came in slightly below their most...
Bitcoin Price Predictions Surging for 2024 Election Year
Standard Chartered has released a report predicting a potential rise in bitcoin's value, could approach its previous high of $73,800 in the lead-up to the U.S. presidential election.A few crypto outlets cite the report.First: Several key factors are driving this...
AI adoption in trading applications is accelerating
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 Board member Claudia Buch speaking Wednesday
The European Central Bank meeting is on Thursday, October 17, 2024, so i don't expect anything on the economy or policy from this. 1020 GMT/0620 US Eastern time - Speech by ECB Board member Claudia Buch during a lecture at Bocconi UniversityBuch is Chair of the ECB...
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RBNZ’s own preferred inflation model 3.4% y/y for Q3 2024 (prior 3.6%)
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JPY strengthened a little on comments from BOJ board member Adachi
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BOJ’s Adachi says conditions are already in place to start normalising policy
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PBOC sets USD/ CNY reference rate for today at 7.1191 (vs. estimate at 7.1208)
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...
ICYMI – Fed’s Bostic says he sees only one more 25bp FOMC rate cut this year
Atlanta Federal Reserve President Raphael Bostic spoke earlier, headline comments here:In that post you'll note he sees another 25bp cut this year and that's all.He was speaking on his updated projections for last month's Federal Open Market Committee (FOMC)...
China President Xi only has 2 objectives: Bail out local govt debt, prop up stock market
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Westpac continue to expect no cash rate cut from the Reserve Bank of Australia this year
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PBOC is expected to set the USD/CNY reference rate at 7.1208 – 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...
AUD, NZD continue to fall
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Japan Machinery orders for August 2024: -1.9% m/m (expected +0.1%)
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Australia leading index in September shows still very slow growth ahead
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Fed’s Bostic: US economy performing quite well, confident inflation will get to 2% target
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RBNZ’s Silk says confident inflation will converge to 2% target midpoint in medium term
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RBA’s Hunter says inflation has been more sticky than the Bank expected
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Bank of Japan rate hike incoming at the December meeting. Another two in 2025.
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