Sees equal degree of upside and downside risks to inflationCan exit NIRP when economy is strong enoughBut there is no preset idea on order or timing of thatIt depends on financial developments at the timeDoes not want to comment on FX levelsIt took them long enough to...
Switzerland August seasonally adjusted unemployment rate 2.1% vs 2.1% expected
Prior 2.1%The Swiss jobless rate continues to keep steady though the number of registered unemployed persons is seen rising from 87,601 in July to 89,881 in August. The unadjusted unemployment rate is seen ticking higher from 1.9% in July to 2.0% in August.MoneyMaker...
A couple of light releases on the agenda today in Europe
The dollar is keeping steadier across the board but the changes are light for the time being. There are two main spots to watch in trading today. The first is the bond market, as has been the case since Friday last week. The second is the Chinese yuan as noted here....
Japan July leading indicator index 107.6 vs 108.8 prior
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,...
Chinese yuan on the brink as it falls to the lowest levels this year
And it could yet get worse as the mounting pressure on the Chinese economy is taking a further toll on the yuan currency. It is right on the brink against the dollar with the potential to break out to its weakest levels since January 2008.USD/CNY daily chartThe trade...
Positive US data breathes confidence in the higher for longer narrative
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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