This comes as the economy continues to stutter from the post-Covid recovery and the rebound in the property market has been rather subdued at best. Of note, regulators are reportedly considering reducing the down payment in some non-core neighbourhoods of major...
ECB’s Panetta: We must not be too quick to raise interest rates
We haven't reached our final destination yetBut we are not far from itDebate will soon shift from level of interest rates to that of maintaining them over timeWe need to curb inflation without having too negative an impact on the economyI'm guessing he's alluding to...
USDCAD Technical Analysis – Rangebound
On the daily chart below, we can see that the USDCAD rejected again the 1.3650 resistance and fell back down towards the 1.3405 support. We have created a range here between the 1.3300 support and 1.3650 resistance. The USD appreciation caused by strong data in May...
ECB’s Vasle: More rate hikes needed to get inflation to 2% target
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,...
Dollar bulls lose their poise, technical momentum begins to swing the other way
After the drop yesterday, let's take stock of the technical situation in the dollar and how that will set things up ahead of the US jobs report later today.The greenback might be little changed mostly, with the antipodeans being the only notable movers in the major...
GBPUSD Technical Analysis – NFP in focus
On the daily chart below, we can see that GBPUSD has made a big pullback in the past few days. The biggest rally was made in the last two days as some Fed officials have hinted to a pause in June to gather more data before deciding on a further increase. The USD came...
European equities start the day on a more positive note
Eurostoxx +0.6%Germany DAX +0.6%France CAC 40 +0.6%UK FTSE +0.5%Spain IBEX +0.6%This comes after the rather rough week that we have seen so far. There was already a mild rebound yesterday and the positive mood from Wall Street is carrying over to today. That said, all...
Steady tones so far as we get the session underway
It is certainly setting up for a more optimistic day. However, markets will need confirmation from the US jobs report later to validate carrying the conviction from yesterday. Fed policymakers have led us to the idea of skipping rate hikes in June, and we'll see if...
FX option expiries for 2 June 10am New York cut
There is just one large one to take note of for the day, as highlighted in bold.That being for EUR/USD near 1.0700, but the expiries may not come into play considering that dollar sentiment remains on the softer side after the moves yesterday. Adding to that is the...
A bare calendar day in Europe keeps the sole focus on the US jobs report
The dollar finally cracked under the pressure of "skip" talks, as equities also rose to try and salvage what had otherwise been a rather rough week. Of note, the S&P 500 and Nasdaq are both returning back above their respective 100-week moving averages as stocks...
ECB’s Panetta: We have not reached the end of rate hike cycle
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,...
Japan’s demographic struggle deepens as birth rate hits record low in 2022
Japan is the poster child for the aging population syndrome and things don't seem to be getting better for the world's third largest economy. The fertility rate, or average number of children born to a woman in her lifetime, was 1.2565 last year and that marks a new...
Has the latest dollar run peaked?
In the early stages of yesterday, it looked like the dollar was not going to be stopped by all the "skip" talk ahead of the June FOMC meeting. But that ultimately took its toll on dollar sentiment as Fed policymaker Harker doubled-down on skipping a rate hike next...
Recap of remarks from Bank of Japan Governor Ueda earlier Friday
The headline remarks from Ueda are here:As I said earlier in those posts Ueda really didn't add anything new, going over familiar territory. If you are interested in a little more though Reuters have popped up a recap:Bank of Japan Governor Kazuo Ueda said on Friday...
Goldman Sachs cut its target for the MSCI China Index
The headline comes via Bloomberg. Bloomberg TV interview with Kinger Lau, chief China equity strategist at Goldman Sachs.Goldman Sachs cut its target for the MSCI China Index on earnings and currency concernsmaintained its overweight recommendation, saying investors’...
No DM central bankers are on the schedule to speak on Friday, 2 June – busy with the NFP!
Central Banks <!--> --> <!--> --> <!--> I don't have any Fed, ECB, BoE, SNB, BoC etc speakers on the schedule for 02 June 2023.There may be one or two pop up for media interviews, there usually are. Fed officials will be sweating the data:More...
US President Biden has scheduled an address at 7pm US Eastern time Friday
The White House with the announcement:US President Biden will deliver an Oval Office address at 7 pm tomorrow on the debt ceiling and budget bill passageThats well after market hours (unless you are trading crypto of course).-I'm not sure of he has any comments...
ForexLive Asia-Pacific FX news wrap: A subdued pre-NFP FX session
US Senate vote to approve the bill to raise the debt limitMore fom Bank of Japan Governor Ueda: CPI to slow, easy policy will be maintainedJapan finance minister Suzuki says FX rate moves are driven by the market, various factorsAustralian housing finance data for...
US Senate vote to approve the bill to raise the debt limit
The Senate has passed the Fiscal Responsibility Act of 2023 (FRA) which suspends the debt limit.Voting continues but the majority required has been achieved. It'll next head to the White House for US President Biden to sign into law.US equities rose on Thursday after...
More fom Bank of Japan Governor Ueda: CPI to slow, easy policy will be maintained
Earlier from Bank of Japan Governor Ueda:And also finance minister Suzuki:More from Ueda now, largely going over old ground: One of the biggest factors that affect market trust in yen is price stabilityJapan's consumer inflation likely to slow quite clearly in mid- to...