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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...
Analysts at JP Morgan remain bearish on the RMB:“The fundamental case for additional yuan weakness remains very much intact.” “We see the dollar-yuan uptrend as durable, but recent events are a reminder that authorities will periodically try to disrupt one way...
The soft tweak to monetary policy at its previous meeting saw the bank allow the 10 year to rise above its previous 0.5% cap. The new line in the sand is 1%. We are not close to that. Yet. USD/JPY is not far from its recent high, no jawboning from Japan as yet either....
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...
In summary from J.P. Morgan's proprietary AI quant model latest:Corporate sentiment is weak overall given financial conditions, aggregate sentiment QSI score for the S&P 500 at the 32.7th percentile The QSI on Federal Reserve monetary policy is at a multi-year low...
Australian Weekly ANZ Roy Morgan Consumer Confidence survey comes in at a still very weak level, and down from last week. ANZ comment: Confidence fell 2.4pts, perhaps on AUD weakness. Household inflation expectations jumped to 5.5% from 5.2% the week before.MoneyMaker...
The two-horse race for the 2024 US Presidential election is Biden vs. Trump.Former President Trump is well in front of other Republican candidates and it seems their best chance is if he ends up convicted and in jail. CNN reports Trump plans to turn himself in at...
Via a note from analysts at KiwiBank, their outlook for the Reserve Bank of New Zealand.In (very) brief summary from the note:The RBNZ ... cash rate was left unchanged at 5.5%.The OCR track however was more hawkish than we had hoped. We were surprised to see the...
This snippet from UBS on yesterday's disappointment from the People's Bank of China:China cut its one year loan prime rate, but less than markets had anticipated. For those bewildered by the plethora of policy tweaks in China, it is best to look at the bigger picture....
A handy snapshot summary from ANZ on oil supply:signs of supply tightness easingIraq’s oil minister, Hayyan Abdul Ghani, is reported to be planning the resumption of oil exports through the Ceyhan terminal. Output has been curtailed by a dispute over payments between...
A snippet projection from UBS on the benchmark S&P500 index.Analysts at the bank's base case forecast for the index is to 4,500 in December 2023 and then 4,700 in June 2024. Citing:second-quarter reporting season likely marked the trough in year-over-year earnings...
Federal Open Market Committee (FOMC) Chair Powell is speaking this week at the Kansas Fed's Jackson Hole symposium.Previews posted:Previewing the week ahead in financial markets. TL;DR version is NVDA earnings vs. PowellGoldman Sachs is not expecting a strong signal...
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,...
The start to the trading week was void of any economic news (or central bank comments for that matter) in the US session. The Jackson Hole Summit later this week, will provide the fireworks with Chair Powell's speech scheduled for Friday at 10:05 AM ET, highlighting...
The news hit during the Japanese afternoon on Monday, Justin had it posted:The current assumed rate is 1.1% this fiscal year, the MoF is to boost it to 1.5%. So, there is movement in Japan, in mindset if not on BoJ policy just yet. Japanese media, Kyodo, had the...
NVDA stock dailyUS stocks stumbled midway through the day today as 10-year yields broke the October highs and rose to the highest levels since 2007. But even that couldn't keep them down for long as anticipation builds about Nvidia's earnings this week. The company...
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,...
The data agenda applicable to major FX is non-esixtent for the session ahead. there is consumer confidence data from South Korea due at 2100 GMT. Also, I have notification that Federal Reserve Bank of Richmond President Thomas Barkin is speaking at 2130 GMT (5.30pm US...
The AUDUSD has seen up-and-down price action in trading today. The earlier session high stalled against its 100-hour moving average. Sellers leaned against the moving average level (it's currently at 0.64185). The subsequent price low in the US session reached a...
Xi Jinping sleeping (AI image)What is happening in the bond market?Treasury yields are reaching fresh cycle highs even with Fed hiking probabilities unchanged. Wonks are talking about r* again in a sure sign they have no idea what's happening. After all, if there's a...