China economy can avoid 'Japanification'If the headline figure is the official tagline, then you can expect China to somehow "achieve" that as they always do. But how they do so and the details are something that will always be in the shadows. As for whether or not...
France September consumer confidence 83 vs 84 expected
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,...
NZDUSD Technical Analysis – Key support in sight
US:The Fed left interest rates unchanged as expected.The macroeconomic projections were revised higher as the economy showed much stronger resilience than expected and the Dot Plot showed that the majority of members still expects another rate hike by the end of the...
Germany October GfK consumer sentiment -26.5 vs -26.0 expected
Prior -25.5; revised to -25.6German consumer morale remains in the doldrums as households are pulling back on spending amid high inflation. GfK says that "the chances of a recovery in consumer sentiment are likely to have fallen to zero before the end of the...
FX option expiries for 27 September 10am New York cut
There are a couple of large ones to take note of, as highlighted in bold.The first being for EUR/USD near the 1.0600 mark, similar to yesterday. That should keep a lid on price action in any push higher amid an extension of the ranges for today. Sellers remain in...
Rising Australian inflation, “its not safe to conclude that the RBA rate cycle has peaked”
The data released earlier is here:ING's response (in brief):Australia: Inflation back on the rise While this is mostly down to less helpful base effects, international energy prices and excise duty hikes, it is not safe to conclude that the RBA rate cycle has peakedWe...
China has placed the Chairman of troubled property firm Evergrande ‘under police control’
Bloomberg with the info citing unnamed sources.Details are sparse:China Evergrande's billionaire chairman and founder Hui Ka Yan has been placed under police control. Sources say he was taken away earlier this month and is being monitored at a designated locationThe...
ForexLive Asia-Pacific FX news wrap: PBOC steps up yuan intervention
The People’s Bank of China is continuing to hold the CNY (and therefore the CNH also) from falling in value further. The Bank set the USD/CNY reference rate on the 7.17 big figure again today. The modelled estimate for the mid-rate was above 7.31 but yet again the...
Goldman Sachs is warning that multiple US government shut downs are possible
Goldman Sachs says they expect any imminent shutdown to last only 2 to 3 weeks .However, "more than one shutdown is possible":the two parties are far apart on spending proposalsany agreement to reopen the government after the likely shutdown is likely to expire before...
If you are eyeing the European Central Bank meeting today, it’s a non-policy meeting
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,...
China state banks intervening to sell USD/CNY
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,...
China August Industrial Profits -11.7% YTD y/y (prior -15.5%)
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,...
Australian August monthly inflation data 5.2% y/y (vs. 5.2% expected)
Australian August monthly CPI 5.2% y/y expected 5.2%prior 4.9%the m/m rise was 0.6% from 0.3% in JulyFor core measures:August CPI excluding Fruit and vegetables, Automotive fuel, and Holiday travel and accommodation 5.5% y/yprior 5.8% in Julythis drip lower in...
People’s Bank of China says it’ll accelerate macro policy adjustments
People's Bank of China hold its meeting on Q3 monetary policy:will step up macro policy adjustmentsto focus on expanding domestic demand, boosting confidenceto implement monetary policy precisely and forcefullywill keep yuan exchange rate basically stable Pan...
PBOC sets USD/ CNY central rate at 7.1717 (vs. estimate at 7.3103)
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...
EUR/USD has hit a 6-month low under 1.0560
Apart from what has already been posted there is nothing fresh. The USD has remained strong while other FX sufferers against it. US stocks fell hard on Tuesday also. About the only thing holding its own is oil it seems (let me know what else you like in the comments...
Add this to the economic calendar for today – China Industrial Profits for August
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 is expected to set the USD/CNY reference rate at 7.3103 – 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...
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BOJ minutes – discussed if wage hikes would continue while profits weak for many firms
Nothing in these is a game changer. Headlines via Reuters: Members agreed it was important to check whether wage hikes will continue next year and onward a few members said chance of firms continuing to raise wages next year was high one member said there was strong...