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Little chance of a rate cut before MarchRates could just stay where they are for longerIf inflation outlook holds, may not need any more rate hikesThe ECB wants to try to at least sell a hawkish pause but they're not doing a very good job at that. These remarks will...
German DAX futures -0.8%UK FTSE futures -0.8%It was an ugly day for US stocks yesterday with the reversal coming after the FOMC meeting decision, which meant that European indices lucked out on that before the close. But there is some catching up to do as such today,...
Yesterday, the Fed left interest rates unchanged at 5.25-5.50% as expected but revised its outlook on the more hawkish side. In fact, the Fed not only sees another rate hike by the end of the year but also much less rate cuts in 2024 as they revised it from 4.6% seen...
The crackdown continues in China as officials are obviously unhappy over how things are unfolding in domestic markets as of late. The report here highlights more unofficial measures taken up, one that I would label as off the books, as Beijing seeks to coerce market...
The dollar is in a commanding spot after the Fed yesterday, as Powell & co. reaffirmed the narrative of higher rates for longer. It was enough to convince markets and Treasury yields in particular is seeing a notable breakout as seen here.The greenback is still...
As for when the BOJ might end negative rates, the majority now sees that as coming some time in 2024. 13 of 25 economists are of that view, representing 52%, and that is up from a roughly 41% proportion in the August poll. As for yield curve control, 21 of 27...
US Treasury 10-year yields (%) monthly chartThe gist of it is that the Fed is sticking to their ongoing pause as they continue to tout the narrative of higher rates for longer. In backing that narrative, they revised higher their projections for the economy and also...
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,...
Westpac on tomorrow's BOJ and potential support for the Yen:This week's BoJ is not expected to produce any policy tweaks, but Ueda could nevertheless strike a hawkish chord, similar to the recent interview where he signalled openness to ending negative rates. US Tsy...
ING with an 'in a nutshell' preview of the Bank of Japan statement due on Friday, 22 September 2023:the BoJ is likely to stay patcould however probably send a subtle hawkish message to the market after higher-than-expected inflation and a weak JPY, combined with...
It's a bit of a paradox that if traders are indeed on intervention watch and reluctant to buy USD/JPY ahead of the 150 level where many think the BOJ may step in then there is little profit taking from longs up higher to slow the ascent of USD/JPY.Bloomberg (gated)...
Today’s Asia session followed the Federal Open Market Committee (FOMC) on Wednesday in the US where the Fed Funds target was held steady but the updated dots from the Committee guided higher rates for a longer period of time. US yields surged, and along with that the...
The Bulletin is published quarterly in March, June, September and December. It contains articles on the economy and financial system from teams throughout the Reserve Bank of Australia. Full thing can be found here.If you are interested, one of the articles in it...
Link is here to the piece (may be gated).Some of the points made:Recent comments by Bank of Japan and government officials are stirring expectations the Japanese economy is finally nearing a turning point where it can declare victory over deflation and the central...
Matsuno's remarks come after a big surge for USD/JPY following a hawkish hold from the FOMC on Wednesday. Important for FX to move stably reflecting the fundamentals Will respond appropriately to FX moves if necessary Won't rule out any options for response to FX...
China Securities Times citing analysts in the article. We've been hearing over and over about this cut being ahead. Given the steady drip of stimulus measures I guess it'll come. Nailing a likely date is very difficult given the lack of transparency at the People's...
I posted earlier on the Bank of England Monetary Policy Committee decision coming up today, with JP Morgan saying a rate hike is a coin toss:Bank of Montreal with a similar take:UK CPI caught our attention as it shored an unexpected deceleration in headline inflation...
An economist at ANZ says that while China is showing 'early signs' of economic stabilization it's still too early to tell if the economy will secure a full recovery by the end of the year.in terms of economic momentum we are seeing some early signs of some sort of...
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...
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,...