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There is just one to take note of, as highlighted in bold.That being for EUR/USD at 1.1000, which I would say might not get much traction on a day like this considering the market mood. The dollar is in a good spot and sellers are pressuring EUR/USD more towards its...
Last week was a bit of a dud in European trading mostly as the summer lull kicked in. The calendar today might suggest the same but markets could have other ideas considering the levels in play at the moment.The dollar is on the verge of a break higher across the...
USD/CNY daily chartThis is one of the key charts to watch today as not only does it pertain to risk sentiment in general, it also has some bearing on the dollar's strength in the week ahead. Beijing have been trying to keep a lid on the currency's softening but the...
Despite the best efforts by Beijing to try and defend the yuan, it is on the verge of its lowest levels since November last year against the dollar. And that is indirectly dragging the aussie and kiwi lower today, alongside the more dour mood in equities.Asian stocks...
The troubles in China’s property market intensified over the weekend. Country Garden, China's top private property developer, said in a statement to the Shenzen stock exchange that it was going to suspend trading of its 11 onshore bonds from Monday. The response on...
I posted earlier on China removing pandemic-related restrictions on group tours to more countries, including the U.S., Japan, South Korea and Australia.MUFG has assessed one ramification of the easing of restrictions as being beneficial flows into yen. Key...
This week, investors will be looking at the earnings reports of two giants of the retail industry, Home Depot and Walmart. In general, Home Depot sells tools, building products, appliances, lighting fixtures, paint, flooring, plumbing supplies, outdoor equipment and...
TD analysts are forecasting the Reserve Bank of Australia have reached the peak of the cash rate. The analysts concede there is still the possibility of a November rate hike:Should the labour market remain firm and there is evidence that higher labour costs are being...
I posted earlier on the continued headlines out of China's property development sector, notable on Country Garden, on of China's mammoth firms in the sector:Lower are:Shanghai Composite Index, down around 0.9%Shenzhen ComponentChiNext Hang Seng Index, down around 2%...
This is a HUGE move from the People's Bank of China, setting the yuan MUCH stronger than was expected. 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%...
USD/JPY popped to a high above 145.20 earlier in the session but has since been slammed lower to circa 144.67.USD/JPY back around 145 has, of course, heightened the fear of Japanese authorities intervening to support they yen (and thus push USD/JPY lower). The most...
Pakistani media reports that imports of crude from Russia have been suspendedCiting unnamed sources for the info that the Pakistan Refinery had refused to process more Russian oil, as less petrol was being produced from it with 20% more furnace oil compared to the...
News from Friday ICYMI, an announcement from the US Biden administration. the number of Chinese passenger flights allowed to fly to the U.S. will rise to 18 weekly round-trips on September 1will then increase to 24 per week starting October 29 the Chinese government...
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...
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,...
TD on oil price factors playing out, concluding that the risk of a runaway rally in oil prices is declining. Says 'the West' is 'losing control over commodity supply', but nevertheless developments to global spare capacity 'have likely flattened the right tail for...
I posted earlier on the resurgence of worry over the Chinese property sector:Over the weekend China's Country Garden announced it'd be suspending trading of onshore bonds from Monday.will suspend trading of its 11 onshore bonds from Mondaya resumption of trading of...
Bank of America responding after the PPI data on Friday out of the US. ICYMI:BoA argues that despite the unexpected jump in the PPI the Fed's FOMC isn’t likely to raise rates at its next policy meeting on September 19-20. BoA analysts moved their forecast for what...
The RBNZ monetary policy meeting is this week, the consensus expectation is for an on hold cash rate decision. The statement is due on Wednesday 16 August 2023 at 0200 GMT. which is 9pm US Eastern time on Tuesday, 15 August 2023.From the New Zealand Institute of...
Business New Zealand's Performance of Services Index for July 2023 comes in at 47.8June's reading was revised from 49.6 to 50.1July's 47.8 is the lowest level of activity for the sector since January 2022the long-term average is 53.5 BusinessNZ comment:“The further...