Gold (XAU/USD) daily chartI probably don't have to keep hammering on this subject but the chart is certainly one of the more interesting ones to watch so far this week. Gold had held on to its 100-day moving average (red line) for a few weeks now and for that to give...
FX option expiries for 22 June 10am New York cut
There aren't any expiries that are too significant for the day, that is sitting close to where price action is at the moment at least. There is a large one for EUR/USD near 1.0900 but that is a bit of a distance to where we are trading for now. However, with the SNB...
The SNB and BOE are in the spotlight in European trading
Major currencies are not showing much appetite so far today but the dollar was somewhat softer in trading yesterday. That comes against the backdrop of softer equities once again with bond yields retreating in the US session as well.There is a consistent theme...
The latest round of the central bank bonanza wraps up today
Here's a recap of the other decisions in case you need them:And for today, we are likely to see 25 bps rate hikes for both the SNB and BOE. Things are more certain with regards to the former, as the SNB will continue to keep pace with the ECB in the battle against...
Bank of Japan board member Noguchi spoke earlier – recap
The headline comments from Bank of Japan board member Asahi Noguchi are here:Reuters have a recap post of his remarks, highlighting: said the bank must maintain ultra-loose monetary policy to ensure wages, seen as key to driving inflation to the bank's 2% target,...
New Zealand data – May credit card spending +3.3% y/y (vs. +13.9% 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,...
ForexLive Asia-Pacific FX news wrap: Awaiting the Swiss National Bank and Bank of England
Session wrap Forex news for Asian trading on Thursday, 22 June 2023 <!--> Eamonn Sheridan Thursday, 22/06/2023 | 02:56 GMT-0 22/06/2023 | 02:56 GMT-0 --> Mainland China and Hong Kong were both closed for a holiday today, Dragon Boat Festival. This sapped...
European Central Bank officials Panetta and de Guindos are speaking today
There are always more speakers than those I manage to list. They're a slippery bunch. Here's what I have for the session ahead:0915 GMT/0515 US Eastern time: Speech by ECB board member Fabio Panetta at fifth annual joint conference of the Deutsche Bundesbank, European...
Swiss National Bank policy meeting today – alternative paths for CHF – hawkish vs. dovish
Credit Suisse analysts outline two alternatives for the SNB and thus the impact on the Swissy:Hawkish scenario assessed at a 60% likelihood:CS argue that given the recent trend of decreasing headline and core inflation rates, an increase of 50 bps would strengthen the...
Federal Reserve Chair Powell speaks again Thursday, & a barrage of other Fed officials too
It occurs to me that I need a better collective noun than 'barrage' for a group of Federal Reserve talking heads. And, who better to ask than the good folks of ForexLive? In the comments please!A hike of Fed officials? A chatter? Help me out here ...---Coming up, the...
Asia Day Ahead: Fed Chair Took the Stage with Hawkish Comments
Recommended by IG Traits of Successful Traders Get My Guide Federal Reserve (Fed) Chair Jerome Powell took the stage yesterday with a series of hawkish comments and while the Fed funds futures did not see much of a change in terms of rate expectations, US equities...
Bank of Japan’s Noguchi says Japan’s economy is to recover moderately
BOJ monetary policy board member Noguchi speakingSays Japan's economy is to recover moderatelythe global economy and markets are a risk to Japan's outlookthe shape of the yield curve is now smooth as a wholenew guidance shows the BOJ's strong commitment to patiently...
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Bank of England Monetary Policy Committee meeting preview – Nomura expect a 25bp rate hike
Nomura say to expect a 25 bps rate increase from the Bank today, followed by additional rate increases in August and September. Nomura say there was a chance the Bank was going to do nothing in June, but that evaporated due to last week's positive labour market...
Chinese Vice Premier He Lifeng said the economy has recovered and turned for the better
A Chinese media report on Chinese Vice Premier He Lifeng meeting with Singapore's Temasek Chairman Lim Boon Heng earlier this week in Beijing.He is a member of the Political Bureau of the Communist Party of China Central Committee and close to President Xi Jinping....
BoA on the Federal Reserve’s FOMC, “pay particularly close attention to Governor Waller”
A snippet from a piece via Bank of America on who to listen to at the Federal Open Market Committee (FOMC), singling out Federal Reserve Board Governor Christopher WallerBoA note that according to Waller "core inflation is just not moving and that’s going to require...
Bank of England Monetary Policy Committee preview: Where to for GBP? 3 scenarios.
The consensus expectation for the meeting of the Bank of England's Monetary Policy Committee today, Thursday, 22 June 2023, is for a 25bp rate hike. The announcement is due at 1100 GMT, which is 0700 US Eastern time.I posted earlier on the bleak task facing the...
Reminder – Mainland China and Hong Kong are out on holiday today
I posted this earlierBut ICYMI, a reminder!Its Dragon Boat Festival day and markets are closed in China and HK. For FX markets, open as usual today are New Zealand, Australia, Japan and Singapore. The absence of HK will drain a little liquidity from FX markets....
Poll shows Japanese firms remain deeply pessimistic
The results of the latest Reuters Corporate Survey, conducted for Reuters by Nikkei Research, has been published. From the report's part on the business environment::corporate managers turned slightly less pessimistic, with 74% saying conditions would be "not so good"...
NZ data: May Exports NZD 6.99bn (prior 6.8bn) & Imports 6.95bn (prior 6.38bn)
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,...