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,...
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Bank of England monetary policy meeting preview – plenty of rate hikes yet to come
This is a very brief outlook preview from Deutsche Bank, and its not good news if you are looking for the BoE to stop hiking rates any time soon. The TL;DR version is:Market pricing implies BoE are just as far away from the terminal rate as they were late last...
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PBOC is expected to set the USD/CNY reference rate at 7.1480 – Reuters estimate
> Central Banks > PBOC is expected to set the USD/CNY reference rate at 7.1480 – Reuters estimate Central Banks <!--> --> <!--> Eamonn Sheridan Thursday, 15/06/2023 | 00:22 GMT-0 15/06/2023 | 00:22 GMT-0 --> <!--> Earlier:Plenty coming...
Chinese state media: China is expected to announce more support for the property sector
China Stock Market <!--> --> Eamonn Sheridan Thursday, 15/06/2023 | 00:16 GMT-0 15/06/2023 | 00:16 GMT-0 <!--> --> China Securities Journal with the report that the country's authorities are expected to announce more support for the property...
BlackRock CEO Fink says artificial intelligence may “bring down the inflation”
BlackRock Inc. Chief Executive Officer Larry Fink was speaking at his firm's investor day. Fink says declining productivity has been a key issue within global economies and a major “reason why we have such sticky inflation”. But, his view is that AI has tremendous...
Japan May trade balance data shows big slump for imports y/y, small jump for exports
Japanese Trade Balance data for May 2023Trade balance is -1372.5bn yenprior was -432.3bn yenImports -9.9% y/yexpected -10.3%, prior -2.3%)Exports +0.6% y/yexpected -1.2% prior +2.6%Exports to China were -3.4% y/yto Asia -8.1%to the US +9.4%to the EU +16.6%In other...
17 different Wall Street firms have 12 different year-end forecasts for the S&P500
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’s Citic Securities is forecasting a 10 bp rate cut in the five-year LPR next week
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,...
New Zealand Q1 GDP -0.1% q/q (expected -0.1%)
New Zealand data showing the country slipped into recession in Q1 with a second consecutive quarter of contraction q/q.Two consecutive quarters of negative growth (economic contraction) is generally accepted as the definition of a recession. Q1 GDP -0.1% q/qexpected...
More on JP Morgan slashing its Brent crude forecast for the year to $81 from 90 previously
Justin had the news on this here:As noted, JPM's call follows something similar from Goldman Sachs earlier in the week:A little more from JPM's note:sees global supply growth offsetting a record rise in demandsays inventory build-up lowers the risk of price...
New Zealand Q1 economic growth (GDP) data due soon – preview
Coming up at 2245 GMT, which is 1845 US Eastern time, New Zealand data:ANZ in New Zealand are looking for a little growth, a snippet from their preview: We’ve pencilled in a 0.2% q/q economic expansion for Q1, unchanged from our previously published forecast and a...
Forexlive Americas FX news wrap: Fed hits the pause button but dots signal hikes
Markets:NZD leads, CAD lagsGold up $2 to $1945US 10-year yields down 3.9 bps to 3.79%WTI crude down 68-cents to $68.74S&P 500 up 6 points to 4377.The Federal Reserve held rates as expected but still managed to deliver a surprise with the dot plot year-end level...
ECB preview – a 25 bp rate hike today and more ahead
Bank of America ahead of the European Central Bank (ECB) meeting. 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. The bank...
IEA said global demand growth for oil is likely to drop off sharply over the next 5 years
The International Energy Agency issued its monthly report on Wednesday. IEA executive director Fatih Birol comments in the report said he expects oil demand growth will "slow almost to a halt" in the years ahead, citing the pivot away from fossil fuels accelerating....
Doubleline’s Gundlach says Stock market is showing signs of a mania
Jeffrey Gundlach was interviewed on CNBC, and had some pithy hot takes:The stock market, frankly, is exhibiting signs of a maniaTo call this a new bull market is really pushing it. Calls the FOMC decision a "hawkish pause"Don't think the Fed will continue to hikeReal...
Asia Economic calendar 15 June 2023: NZ GDP, Australia job report, China economic activity
Not shown below is the interest rate decision from the People's Bank of China today. Around 0115 GMT (9.15 pm US Eastern time) is the Bank's Medium-term Lending Facility (MLF) rollover. China state-controlled financial media says PBOC may cut MLF rate by 5 to 10 bp...
Trade ideas thread – Thursday, 15 June 2023
Well, if y'all are finished trashing stocks, I mean scooping up stocks (make up yer mind). Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive...
Major indices mixed after FOMC hawkish pause
The FOMC kept rates unchanged but the dot plot forecasts 50 basis point hikes between now and the end of the year.The initial reaction was to the downside in stocks,Dow Industrial Average was down -428.58 points at the lowsS&P index was down -31.17 points at the...