China May trade data is disappointing, especially for exports. For May, in US dollar terms:Exports -7.5% y/yexpected -0.4%, prior +8.5%Imports -4.5% y/yexpected -8.0%, prior -7.9%In yuan terms (the yuan is sliding, cushioning the blow):Exports -0.8%expected +9.9%,...
ForexLive Asia-Pacific FX news wrap: PBOC sets CNY even weaker
Reserve Bank of Australia Governor Lowe spoke today after the bank raised its cash rate again yesterday. Lowe didn’t add much to his statement yesterday. In a nutshell the RBA has renewed concerns about inflation, and wage growth accompanied by declining productivity,...
Australia’s Treasurer Chalmers says rising interest rates are impacting on economic growth
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,...
Morgan Stanley says the RBA is likely to raise rates only once more
Richard Wagner is CEO of Morgan Stanley’s Australian office. He spoke with Bloomberg TV. He has an optimistic outlook on Reserve Bank of Australia rate hikes ahead. Says only one more hike coming. “It takes a few months for those rate rises to drain bank accounts so...
Australian Dollar Tad Softer After GDP; Is AUD/USD About to Reverse This Week’s Gains?
AUD/USD, Australian Dollar, RBA, GDP – Talking Points:Australian economy grew slower than expected in Q1.RBA’s Lowe highlights ‘significant risks’ to soft landing.What’s next for AUD/USD? Recommended by Manish Jaradi Introduction to Forex News Trading Get My Guide The...
Australian data: Q1 GDP 0.2% q/q (expected 0.3%)
Australian economic growth data for the January - March period 2023. 0.2% q/q for a miss on already low estimatesexpected 0.3%, prior 0.5%2.3% y/y expected 2.4%, prior 2.7%Inflation indicator in the data ... little sign of diminishing price pressures here:The GDP...
Bank of Canada monetary policy decision due Wednesday, 7 June 2023 – ‘rate hike’ preview
I posted the view from CIBC, expecting an on-hold decision from the Bank today:Scotia Economics, on the other hand, expects a 25bps rate hike at this meeting. In brief:Along with "continued guidance that leaves the door open to further tightening by largely retaining...
PBOC sets USD/ CNY mid-point today at 7.1196 (vs. estimate at 7.1194)
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...
Bank of Canada monetary policy decision due Wednesday, 7 June 2023 – ‘on hold’ preview
CIBC expect the Bank of Canada to remain on hold at the policy meeting today:1400 GMT is 10am US Eastern time. Via CIBC, tipping no change at the meeting todat:US and Canadian labour markets have continued to drive above their non-inflationary speed limits. So central...
[6월부터~바뀝니다!! 전국민 최대 10만원 지원! 취약계층 최소 350만원!! 정부 법령, 지원금 정책!!]#3.1경제독립tv
https://www.youtube.com/watch?v=mviCurIzHzM [6월부터~바뀝니다!! 전국민 최대 10만원 지원! 취약계층 최소 350만원!! 정부 법령, 지원금 정책!!]#3.1경제독립tv 나에게 힘이되는 "돈되는 복지정보"!! 최신 "재테크 소식"을 가장 빠르고, 정확하게 받고 싶다면 3.1경제독립tv" "좋아요", "구독", "알림설정" 부탁드리겠습니다!...
PBOC is expected to set the USD/CNY reference rate at 7.1194 – 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...
RBA Governor Lowe says if inflation stays high we will feel a lot of pain
Reserve Bank of Australia Governor Lowe spoke earlier:RBA Gov Lowe: Further tightening of monetary policy may be neededFollow up Q&A now. Lowe:Lowe adds: Australians shoulddn't fall into a state of despair. Says there is a path back to better times and increasing...
Blinken met Saudi Crown Prince – discussed cooperation
A statement from the US State Department after Secretary of State Blinken met with Saudi Arabia's crown prince: Blinken emphasized that our bilateral relationship is strengthened by progress on human rights Discussed deepening economic cooperation, especially in the...
Oil: signs of tightness in the physical market will need to emerge for oil prices to rally
A snippet from ANZ's outlook for oil. The Energy Information Agency said that oil demand in the US will grow at just under 1% in 2023 due to a forecast slump in diesel demand. The distillate fuel is being impacted by tighter monetary policies in the US as the Fed...
RBA Gov Lowe: Further tightening of monetary policy may be needed
> Central Banks > RBA Gov Lowe: Further tightening of monetary policy may be needed Central Banks <!--> --> <!--> --> Live link is here:Full text is here:Headlines via Reuters: Too early to declare victory in the battle against inflation June...
Australian Manufacturing Index May -5.1 (prior -20.2) & Construction -6.6 (prior -12.4)
Survey results for manufacturing and construction indexes for May 2023 from the Australian Industry Group.AiG Manufacturing Index -5.1prior -20.2Construction -6.36prior -12.4More board 'Australian Industry Index" is -10.9prior -20.2---From the report:Key findings The...
Lloyds Banking Group to launch £600m Telegraph auction after seizing control
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,...
Goldman Sachs says the probability of US recession in 12 months is 25% (vs previously 35%)
In March Goldman Sachs assigned a recession probability to 35% after the collapse of Silicon Valley Bank.Analysts at the bank have trimmed that to 25%, Citing two main factors:“We have become more confident in our baseline estimate that the banking stress will...
No Fed Blackout for Clarida. ICYMI: says one or two Fed rate hikes ahead is a close call
Ex- Federal Reserve Vice Chair Richard Clarida comments overnight, speaking on Bloomberg television.Said that with economic data coming in stronger as the Fed prepares to meet next week"We could get an additional hike or two in this cycle," "It's a closer call than I...
Meanwhile, in China: Monkeypox cases detected in Beijing
The report is of two monkeypox cases detected in Beijing, which comes via Chinese state media. Given the "massaging" of data out of China I suspect the number is greater than two. I could be wrong. Via Global Times:Beijing has recently detected two cases of monkeypox....