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...
UBS expect a Reserve Bank of Australia rate hike in July
Catching up on this snippet from UBS last week on the RBA. UBS note the RBA minutes mention the RBA will engage in passive quantitative tightening (QT). QT is when central banks reduce their balance sheets by actively selling assets. 'Passive' QT is allowing holdings...
PBOC is expected to set the USD/CNY reference rate at 7.0574 – 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...
Warnings in China over “negative down payments” for home, property buying,
China's Global Times carried this piece over the weekend, in brief: Some real estate agencies have been marketing homebuying with "zero down payment" or "negative down payment" so that consumers not only don't need to pay for down payment but also can obtain funds for...
Weekend data – China Industrial profits in April down 18.2% y/y (March was -19.2% y/y)
Data from China's National Bureau of Statistics (NBS) released over the weekend. Profits at China’s industrial firms in April -18.2% y/yprior -19.2%For the YTD. ie. January - April, down 20.6% y/yprior (January - March) -21.4%Margin pressures, soft demand & a...
US President Biden is delivering remarks on the debt limit agreement – “Good news”
Adam had the earlier breaking events:US President Biden is speaking from the White House now. There is very little of substance so far.Says he spoke with Speaker McCarthy and that they reached a bipartisan agreementGood news for the American peoplethe agreement...
Heads up for US President Biden about to speak on debt limit agreement
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,...
BoA says an FOMC rate hike in June is a close call, Fed needs 3 conditions to be met
This is via the folks at eFX. For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. Bank of America (BofA) has reaffirmed its base case expectation that the Federal...
ICYMI: IMF has told the Federal Reserve to hike more, and quickly, and then hold ’em high
The International Monetary Fund released its United States of America: Staff Concluding Statement of the 2023 Article IV Mission report on Friday. Adam had the rundown, a picture of stumbling growth and inflation slowly returning to target.The report said tha the...
Weekend – Fed’s Goolsbee welcomed news of a deal on US debt ceiling
The news ICYMI:Federal Reserve Bank of Chicago President Austan Goolsbee expressed optimism in an interview on CBS's "Face the Nation"."If you did not do that, the consequences for the financial system and for the broader economy would be extremely negative" "Even the...
Economic calendar in Asia for 29 May 2023 is empty, & a heads up for a Europe & US holiday
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,...
Trade ideas thread – Monday, 29 May 2023
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,...
Monday morning open levels – indicative forex prices – 29 May 2023
On a Monday morning, market liquidity is very thin until it improves as more Asian centres come online. Prices are liable to swing around on not too much at all, so take care out there.Rates guide:EUR/USD 1.0724USD/JPY 140.67GBP/USD 1.2348USD/CHF 0.9053USD/CAD...
또 바뀌는🔄실업급여! 하한액 없어진다!!
https://www.youtube.com/watch?v=cC9E2jMYigk 안녕하세요.^^ 실업급여 한 번 이라도 받아 보셨나요? ‘실업급여는 최소한 최저임금의 80%는 줘야 한다’는 실업급여 하한액 규정을 폐지하는 내용의 고용보험법 개정안을 발의했고요. 정부에서도 고용보험 재정을 아끼기 위해 5월부터는 새로운 실업급여 체계를 도입하기로 했습니다. 또 달라지는 실업급여 확인하세요! #실업급여 #개정 #구직급여 MoneyMaker FX EA...
The US debt ceiling deal is done. Here are the details
The debt ceiling charade is all over.This was the 79th time it's been raised since 1960 and the US still hasn't defaulted. Remember that next time.The US has averted a major economic crisis by raising its debt ceiling as part of a new two-year budget agreement that...
Debt ceiling deal nears as McCarthy cites progress
A debt ceiling deal isn't done yet but it's safe to trade as if it is. Here are the latest comments from US House majority leader Kevin McCarthy.We do not have a deal yetJune 5 date doesn't change thingsWe'll get debt ceiling deal when it gets rightHave not dropped...
Euro Weekly Forecast: EUR/USD Recovery Hinges on Debt Ceiling Deal
EUR/USD PRICE, CHARTS AND ANALYSIS: Trade Smarter - Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: Debt Ceiling Blues, Part 79. What Happens if the US Defaults?The Euro did...
Forexlive Americas FX news wrap: Just the headlines today
Session wrap <!--> --> <!--> --> Markets:WTI crude oil up 96-cents to $72.79Gold up $6 to $1946US 10-year yields flat at 3.81%S&P 500 up 1.4%GBP leads, JPY lagsJust the headlines and market summary today folks - have a great weekend!For those in...
Yellen now estimates that debt limit won’t be hit until June 5
AI imageTreasury Secretary Janet Yellen has conjured a few extra days for US politicians to grandstand. She now says that extraordinary measures won't be exhausted until at least June 5.House Republican leader McCarthy has said his deadline is June 1 but you can never...
US stocks rip higher for the second day as Nasdaq closes at highest since August
There were non-stop flows into US stock markets on Friday, led by the Nasdaq:S&P 500 +1.3%Nasdaq Comp +2.2%DJIA +1.0%Russell 2000 +1.1%Toronto TSX Comp +0.8%On the week:S&P 500 +0.3%Nasdaq Comp +2.4%Russell 2000 flatToronto TSX Comp -2.1%Broadcom was a big...