The strongest to the weakest of the major currenciesThe NZD is the strongest of the major currencies while the JPY is the weakest as the North American session begins. Today, the Canadian employment data, will be released at 8:30 AM ET, and will provide valuable...
ForexLive European FX news wrap: Dollar steadies itself as markets take a breather
Headlines:Markets:NZD leads, JPY lags on the dayEuropean equities lower; S&P 500 futures flatUS 10-year yields up 3.7 bps to 3.751%Gold down 0.1% to $1,965.53WTI crude up 0.3% to $71.50Bitcoin down 0.2% to $26,590It's just one of those days where markets decided...
How’s the Fed outlook shaping up to be right now?
Here's a look at the changes in the Fed funds futures curve over the last one week and compared to a month ago:After the US jobs report on Friday last week, traders moved in to further price a higher for longer narrative by the Fed and that hasn't changed by much even...
A mostly sideways session so far in European morning trade
Major currencies are almost no different from the earlier snapshot here. EUR/USD is down slightly by 0.2% to 1.0760 but keeping within a 25 pips range only for the day. Meanwhile, USD/JPY is up 0.5% to 139.60 but again the pair is rather confined in between large...
PBOC governor says expects inflation to gradually rebound in 2H this year
There is a supply-demand recovery time lag on inflationAs for annual reading, there is also high base effects still at playHas confidence to reach official growth targetChina's Q2 GDP expected to be high mainly due to base effectsHe's speaking in relation to the...
China does not want to decouple from the rest of the world, says securities regulator
"It's true that some people want to decouple with China, but China will not decouple with the outside world and we're unwilling to do so. Our attitude is to proactively connect with others."The thought here is to keep maintaining that narrative, so as to ensure...
Market Update – June 9 – USD & Yields slip, Treasuries & Stocks Rally
The USDIndex dived from the 104.00 holding pattern to 103.33 as weekly unemployment claims rose much more than expected by 28k to a 2-year high of 261k from 233k reversing the tightening in claims since April. Stocks closed with a positive bias as the S&P500...
French finance minister says gotten pledge from manufacturers to lower prices
He also adds that those who do not respect this pledge will be at risk of financial sanctions. That is likely to allude to the fact that these are probably the bigger manufacturers but the question then comes down to how the prices will trickle down to consumers at...
Major currencies not doing a whole lot so far today
Here's the snapshot as we look to get into European trading:As you can see, dollar pairs are mostly holding within 0.1% change to one another with the exception being USD/JPY. The pair is up 0.3% to 139.35 as it continues the push and pull alongside the bond market....
Trade ideas thread – European session 9 June 2023
The dollar certainly kept things interesting on the week, after nudging lower following the weekly jobless claims data. It seemed like markets were content to keep the sideways action going but the slight action yesterday does set up some interesting technical...
FX option expiries for 9 June 10am New York cut
There are a couple to take note of, as highlighted in bold.They are both for USD/JPY at 139.00 and 14.00 respectively and the expiries should keep price action contained in between those levels as such, before rolling off later in the day. With little to work with in...
Dollar dealt a blow as we move towards final stretch of the week
It seemed like markets were content to wait on the US CPI data and Fed decision next week, so it definitely caught me by surprise that there was quite a modest reaction to the weekly initial jobless claims data here:The reading was the highest since October 2021 and...
Japan PM Kishida to hold press conference on 13 June
There's no additional details on what this might be about but take note just in case. I will update this post later if there is any further information or even if there isn't.Update: It seems that it will be an announcement where Kishida will unveil the final version...
Australian Prime Minister Albanese says there isn’t a wage-price spiral
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 Wanda bonds halve in value since January, “Its really bad, moving in one direction”
The Wall Street Journal with the report on Chinese shopping-mall operator Wanda Properties and the slashing of their junk bonds:In January, Wanda Properties sold a $400 million bond, then another a month later, raising hopes of a junk-bond revival. Now, Wanda has been...
ForexLive Asia-Pacific FX news wrap: USD/JPY higher with BOJ Gov Ueda steadfast on easing
USD/JPY rose during the session from under 139.00 to around 139.25 as I post. Bank of Japan Governor Ueda spoke before parliament sticking to his support for easy monetary policy. There is more on what Ueda said in the bullet points above, but the summary is the man...
Binance has suspended US currency deposits – cites SEC law suit
Bitcoin down on the news, circa USD26400Binance statement:The SEC has taken to using extremely aggressive and intimidating tactics in its pursuit of an ideological campaign against the American digital asset industry. Binance.US and our business partners have not been...
China’s economy stumbling, likely headed for a lost decade says ex-IMF official
A former IMF official, Desmond Lachman, wrote an op-ed in US media outlet Barrons:So much for the Chinese economic boom. Last year China ended a disastrous zero-Covid policy that had crippled its economy. A rush of growth was widely expected to follow. Instead of...
Bank of Japan Governor Ueda says will patiently maintain current monetary easing
More from Bank of Japan Governor Ueda, he spoke earlier also:More from him now: Will patiently maintain current monetary easingBy supporting economy, we can create positive economic cycle where wages rise both on nominal, real basisGovernor Ueda does not sound like a...
China – Government adviser says rates should be cut again to boost economic recovery
Bloomberg report on advice to the government from Liu Yuanchun, president of Shanghai University of Finance & EconomicsChina should cut interest rates to alleviate private firms’ financing burdens and boost the economic recoverySaid private companies’ borrowing...