The dollar edged higher on Monday as investors digested a slew of monetary policy decisions by central banks last week and looked ahead to a crunch decision by the Bank of England on Thursday.FULL STORYIn a busy week for central banks, the European Central Bank on...
Blinken meets Xi during pivotal China trip to salvage frosty ties
U.S. Secretary of State Antony Blinken met with Chinese President Xi Jinping on Monday, wrapping up a rare and pivotal trip to Beijing that aimed at ensuring the many disputes between the superpowers do not spiral into conflict.FULL STORY**XI SAYS BLINKEN VISIT COULD...
McDonald’s Japan hikes prices in city centres as costs bite
The Japanese operator of McDonald's restaurants said on Monday it would raise prices at 184 city centre branches, equivalent to about 6% of its 3,000 stores, to help absorb higher rents and labour costs.FULL STORYMany businesses have begun passing on to consumers the...
France targets 10 billion euros in budget savings – minister
A French government spending review has identified 10 billion euros in budget savings that will be targetted in the coming years, Finance Minister Bruno Le Maire said on Monday. FULL STORYSavings would come from public sector spending in the health sector, housing,...
Berlin to sign agreement with Intel after chip plant talks
The German government scheduled the signing of an agreement with Intel for 1245 GMT on Monday, capping off talks over a new chip-making complex on German soil.FULL STORYThe Handelsblatt business daily reported last week thatthe U.S. company is expected to receive 9.9...
Weekly Market Outlook (19-23 June)
UPCOMING EVENTS:Monday: US Juneteenth Holiday.Tuesday: PBOC LPR.Wednesday: UK CPI, Fed Chair Powell’s Testimony.Thursday: SNB Policy Decision, BoE Policy Decision, US Jobless Claims.Friday: US S&P Global PMIs.Tuesday: The PBOC is expected to cut the 1-year and...
Secretary of State Antony Blinken will meet President Xi Jinping today in Beijing
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,...
China seen cutting key lending benchmarks as economy slows
China is widely expected to cut key lending benchmarks on Tuesday in the first such easing in 10 months, a Reuters survey showed, as authorities seek to shore up a slowing recovery in the world's second-largest economy.FULL NOTETwenty-one, or nearly 66%, of all...
Berkshire Hathaway adds to Japan trading company holdings
Billionaire investor Warren Buffett's Berkshire Hathaway said it added to stakes in Japan's five biggest trading houses to beyond 8% on Monday, a move likely to highlight and add to the momentum driving Japan's stock market to new heights.FULL NOTE**COMPANIES IN WHICH...
Market Update – June 19 – US Holidays, Blinken in China, Waiting for the PBoC
Asia-Pacific markets largely fell on Monday in a week when the PBoC is broadly expected to cut its 1-year and 5-year Loan Prime Rates tomorrow while uncertainty is surrounding China’s economy and the scope of any potential stimulus. In an attempt to improve...
Asian stocks pause rally, eyeing China stimulus, Powell testimony
Asian shares fell on Monday, consolidating gains after their best weekly run in five months, while investors looked ahead to China's rate decision and U.S. Federal Reserve Chair Jerome Powell's testimonies for clues on the path ahead.FULL NOTE🔹 Nikkei slides, yen at...
China’s top diplomat Wang Yi on the wires after meeting with Blinken
China's top diplomat Wang Yi, in meeting with U.S. Secretary of State Blinken:Tweet**WE MUST TAKE A RESPONSIBLE ATTITUDE TOWARD THE PEOPLE, HISTORY AND THE WORLD, REVERSE THE DOWNWARD SPIRAL OF U.S.-CHINA RELATIONS**THE U.S.-CHINA RELATIONSHIP IS AT A LOW POINT, WITH...
The @Newsquawk Europe Market Open: US-China talks in focus US markets closed ECB speak due
The @Newsquawk Europe Market Open: Europe Market Open: US-China talks in focus with US markets closed & ECB speak dueFull note4 Things You Need to KnowAPAC stocks were mostly negative following last Friday's losses on Wall St, while risk appetite was also...
More from Goldman Sachs – reasons for slashing their China growth forecast
The news and in brief reasoning is here from earlier:And other analysts are also cutting:More from Goldman Sachs, citing as reasoning for their downgraded forecast:upcoming policy easing is unlikely to exceed those implemented in previous downturnsProperty and...
The PBOC is expected to cut rates again on Tuesday, 20 June 2023: Loan Prime Rates (LPRs)
There have been plenty of stimulus announcments from China last week:And more are expected to come:On Tuesday, 20 June 2023 we get the next policy move from the People's Bank of China, an expected cut to LPRs. Currently LPR rates are: 3.65% for the one year 4.30% for...
European Central Bank speakers on Monday, 19 June 2023 include Lane and Schnabel
Both of these two are never shy to express views on their economic and monetary policy outlooks. At 1100 GMT/0700 US Eastern time, European Central Bank chief economist Philip Lane is participating in a fireside chat on the occasion of the awarding of the German...
New Zealand PM Hipkins to meet Chinese President Xi in Beijing, in late June
New Zealand Prime Minister Hipkins will meet with China's President Xi Jingping and Premier Li QiangThe meeting will be part of Hipkins' trip to China from 25 to 30 June. He'll be leading a business delegation and will be visiting Beijing, Tianjin And Shanghai.New...
ForexLive Asia-Pacific FX news wrap: Fretting over China growth
What would an AI-based Bank of Canada do?North Korea says it will be "increasing the production of powerful nuclear weapons"FX option expiries for Monday, 19 June 2023, at the 10am New York cutChina's Foreign Minister Qin Gang & US Secretary of State Antony...
What would an AI-based Bank of Canada do?
CIBC is the Canadian Imperial Bank of Commerce based out of Toronto, Ontario.Economists at the bank have asked What would an AI-based central bank do? Specifically would would an AI bank have done at its meeting just over a week ago?The analysts answer that: An...
North Korea says it will be “increasing the production of powerful nuclear weapons”
North Korea state media, Korean Central News Agency (KCNA) with the report:The Political Bureau of the party's Central Committee called on "the national defense field to consistently adhere to the orientation of developing nuclear weapons and the line of bolstering up...