This was the main headline in trading yesterday: US August ISM services 54.5 vs 52.5 expectedAnd that is shifting the price in the Fed outlook once more. At this point, markets are extremely sensitive to US data but there has been a developing trend in the last one...
Light changes among major currencies ahead of European trading
In trading yesterday, the dollar was once again the main beneficiary - not by a whole lot though - as Treasury yields also pushed higher. It came after the better-than-expected ISM services report here. And that is keeping with the tone we're seeing since last...
Australian Prime Minister Anthony Albanese confirms he will visit China later this year
Australian Prime Minister Anthony Albanese has confirmed he will visit China later this year"I... confirmed the invitation from President Xi. That I would accept an invitation and will visit China later this year at a mutually agreeable time" Albanese met with China's...
ForexLive Asia-Pacific FX news wrap: Chinese exports and imports fall in August from July
USD/JPY traded above 147.85 to a 10-month high today before dipping back under 147.60. While we had verbal intervention out of Japan’s Ministry of Finance on Wednesday, so far today there has been nothing.Also from Japan was a speech from Bank of Japan monetary policy...
RBA Gov Lowe says risk if sticky inflation materialises would need tighter policy
Reserve Bank of Australia Governor Lowe in his final public speech as Governor. Deputy Governor Bullock takes over as the new head of the Bank on September 18. The title of Lowe's speech today is "Some closing remarks". If you would like to listen live, the link is...
China August trade data, Exports -8.8% y/y (expected -9.2%) & Imports -7.3% (exp -9.0%)
China August trade data in both USD and CNY terms in the screenshot below. For the period January - August (that is, YTD):USD denominated exports are down 5.6% y/y and imports are down 7.6% y/yin CNY terms for the YTD exports +0.8% (a falling currency helping) and...
Bank of Canada Governor Macklem is speaking today, Thursday, 7 September
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,...
Some more Chinese banks are once again lowering mortgage rates today
Agricultural Bank of China and Bank of China have announced they are adjusting rates for some existing first-home mortgages. There has been a wave of supportive moves such as this after instructions were given by authorities in the country. The property sector has...
There is a barrage of 6 Federal Reserve speakers due today, Thursday, 7 September
Here are the speakers from the Federal Reserve I have listed for today. A few more could well pop up in media interviews and what have you. There are 6. Bostic is speaking twice, which is why there are 7 lines below. I've noted those speeches more likely to bring...
Texas paid bitcoin miner Riot US$31.7 million to shut down during heat wave in August
CNBC carry the report on a nice little earner for crypto miner Riot Platforms.During the crypto boom of 2021, Riot Platforms was raking in cash from bitcoin mining. Now the company is losing so much money that it’s counting on energy credits from selling power back to...
BOJ’s Nakagawa says its appropriate to maintain easy monetary policy for the time being
Bank of Japan monetary policy board member Nakagawa: Appropriate to maintain easy monetary policy for time beingSigns of change seen in Japan's corporate price, wage-setting behaviourStill not at stage where we can say japan has stably, sustainably achieved BOJ’s...
Australian data: July Exports -2% m/m (prior -2%) & Imports +3% m/m (prior -4%)
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,...
PBOC sets USD/ CNY mid-point today at 7.1986 (vs. estimate at 7.3121)
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...
USD/JPY hits a 10-month high above 147.85
USD/JPY is extending its gains in Asia morning trade. Data overnight from the US sent yields higher again, the spread between the US and Japan has been, and continues to be, a driver of the higher USD/JPY. Continued strong US data argues for a 'higher for longer'...
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PBOC is expected to set the USD/CNY reference rate at 7.3121 – 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...
Magnitude 6.2 Earthquake just off the coast near Coquimbo, Chile
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,...
ICYMI – Japanese government set to announce a fresh economic stimulus package in October
Japanese media (Kyodo news agency) carried the report overnight. In summary:Japanese government set to announce a fresh economic stimulus package in OctoberAiming it to support wage hikes by firms and mitigate energy billsPM Kishida will order up a draft package by...
Here’s why the beat on ISM Services PMI on Wednesday had such an outsized impact on mkts
The ISM Services PMI was in the spotlight:And it didn't disappoint:Yes, 54.5 was a big beat of the consensus, but of even more impact was the fact that it beat the highest estimate made by analysts heading into the release. The range was 51.1 to 53.9, so the 54.5 was...
Bank of Japan monetary policy board member Nakagawa is speaking soon (0130 GMT)
Coming up at 0130 GMT, 2130 US Eastern time, Bank of Japan board member Junko Nakagawa to deliver a speech and hold a news conference later. The last time we heard from her was back in February if memory (and Google) serves.Links here:There has been a lot of water...