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Last week, we got some risk aversion in the market as the tensions in the Middle East intensified. In fact, going into the weekend the bearish momentum increased as ABC news reported that the Israeli military got the "green light" to move into Gaza whenever it was...
There are quite a number to take note of for the day, as highlighted in bold.The first being for EUR/USD at the 1.0600 mark, where there is some short-term resistance since last Friday holding at the figure level. Barring any major changes in Treasury yields and...
The three key things to watch in markets right now are the same as it was last week. That being the Israel-Hamas conflict, developments in the bond market as 10-year Treasury yields near 5%, and the threat of Tokyo intervention as USD/JPY knocks on the door of the...
USD/JPY 5 mins chartWith Tokyo watching so far today, traders are looking a little hesitant once again for now. However, with 10-year Treasury yields inching back towards the 5% level, that is keeping the pair underpinned in the bigger picture. There is some relief in...
China to hold its financial conference focused on economy, debt risksGoldman Sachs says FX outflows from China in September hit US$75 bln, biggest since 2016Australian PM Albanese confirms he will meet with Communist Party Chair Xi in China in NovChinese police raided...
China will hold its National Financial Work Conference at the end of October (30 and 31)It'll be focused on resolving debt-related risks, notably local government financing vehicle (LGFV) risks. The conference was due to be held in 2022 (the previous one was held in...
Goldman Sachs using its preferred measure, alongside official data from China, of FX capital flows:Capital outflows from China rose sharply to $75 billion in September (from $45bn in August)biggest monthly amount since 2016underscoring intensifying depreciation...
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,...
The Wall Street Journal with the report that Chinese police have raided the Shanghai offices of GroupM, a media-investment group and unit of London-based advertising behemoth WPPShanghai police’s economic crimes investigation division said that three suspects at an...
I posted earlier on the woes at FoxConn:Says Bloomberg:Chinese authorities are again shaking the confidence of foreign firms with a series of arrests and an investigation into FoxconnBut its not really about FoxConn, or any individual firm, the Chinese Communist Party...
Snippet from DB on the euro, saying their view on it is neutral and hence they've lowered their end-2023 forecast to 1.07 from 1.15 previously. DB says the main reason they remain neutral EUR/USD is the pair has failed to break higher this year due to the relative...
Global Times report over the weekend:Chinese mainland tax authorities have conducted tax inspections on key enterprises of Foxconn Natural resources department has also conducted on-site investigations into the land use of key enterprises of Foxconn in Henan and Hubei...
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...
RBA Governor Bullock spoke last week:On Tuesday, 24 October 2023 at 7 pm Sdyeny time, which is 0800 GMT and 0400 US Eastern time Bullock is speaking again. Monetary Policy in Australia: Complementarities and Trade-offsat the Commonwealth Bank of Australia Global...
There were two by-elections in Japan on Sunday:one for a lower house seatone for an upper house seatthe ruling Liberal Democratic Party won the lower house (House of Representatives) seat but lost in the House of Councillors poll, whiohc was taken by an...
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...
China's envoy to the Middle East had comments reported via Chinese Communist Party state media.China's official statements have completely avoided referring to Hamas' heinous terrorist murders, rapes and kidnappings that kicked off this recent war. As such, Chinese...
This from last week ICYMI (like I did). Morgan Stanley's Wealtyh management unit writes that insight into cyrpto pricing next moves can come from its 'four “seasons” of cryptocurrency’s historical trading cycle'.now is a good time to search for insights from past...
Bank of America is wary of a market positioned very long in US dollars and levels that may be at overshoot. Analysts at the bank, though, make an exception against the yen, saying that the potential for disruption to oil supply due to war in the Middle East is not yet...
A note via Westpac's new Chief Economist, Luci Ellis. Luci Ellis was previously the Assistant Governor (Economic) at the Reserve Bank of Australia, a position she held since December 2016. news of her departure from the Bank crossed in July. Ellis has issued a note...