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Expects inflation to slow towards the middle of fiscal year 2023Japan economy still faces very high uncertaintyWill update progress of the review of past policies starting next monthNeed to pay attention to FX and financial marketsIf anything else, this does not sound...
Economy to expand by 1.2% in 2024 and 1.3% in 2025 respectivelyGerman inflation seen at 6.0% in 2023, 3.1% in 2024, 2.7% in 2025Inflation risks are tilted to the upsideEconomy is set to recover only arduously but inflation at last is easingWe'll see how confident they...
In case you missed it:BNP Paribas now sees the terminal rate at 4.00%, up from its previous forecast of 3.75%, and that view is also shared by UniCredit as they also lift their peak rate forecast for the ECB to 4.00% as well.In terms of market pricing, roughly 40 bps...
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,...
There are a couple of big ones to take note of, as highlighted in bold.The main ones in particular are for EUR/USD with the larger of the two sitting at 1.0900. That might keep price action more anchored and if anything else, should at least provide a decent...
Currency trading is a complex and ever-changing market, but there are some key trends that can help you make informed trading decisions. In this analysis video, I will take a look at the EUR/USD exchange rate and forecast its potential movement in the coming year.Key...
The dollar was battered in trading yesterday, with the selling coming mostly in US trading. It also comes after the ECB but I wouldn't really say that was much of a trigger, apart from perhaps a strong run higher in the euro currency itself.For the dollar, it was...
It was a rangebound day for major FX in Asia here ahead of the BOJ statement. More on the BOJ in a moment.Otherwise there was no data of impact, and news flow was extremely light. We had small dribbles from China on boosts to the economy. The next round of monetary...
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 updated UBS forecasts for China GDP come via Bloomberg, gat5ed. UBS lowered its forecast for China’s gross domestic product growth this year to 5.2%their previous projection was 5.7%lowered their 2024 forecast to 5% from 5.2%Citing reasons including:“the weakening...
US Dollar, Japanese Yen, USD/JPY, BOJ – Talking Points:BOJ kept ultra-loose policy settings unchanged, in line with expectations.USD/JPY rose slightly in reaction to status quo on policy.What is the outlook for USD/JPY and what are the signposts to watch? Recommended...
Statement from the Bank of Japan after its June 2023 monetary policy meeting. No change.BOJ maintains short-term interest rate target at -0.1%maintains 10-year JGB yield target around 0%maintains band around 10-year JGB yield target at up and down 0.5% eachmade...
WPAC had expected a +25bp rate hike in July, which they still expect, but add in:We now expect a further final increase in the cash rate of 0.25% to 4.6% at the August Board meeting, for a peak in the cycle of 4.6%.In their reasoning WPAC cite:The May Labour Force...
The National Development and Reform Commission of the People's Republic of China (NDRC) is the 'state planner'.Says it will speed up implementation of key projects, push forward major infrastructure projects in energy, water and transport.Also announces:approved 14...
Reuters had this info ICYMI, citing six people and documents sighted:China has issued a third batch of 2023 crude oil import quotas, raising the total volume in the first half of this year to 194.1 million tonnes, up 20% from the same period last yearLink here for...
They are a mysterious bunch at the Bank of Japan. They don't provide a firmly scheduled time for their policy decision announcement. Experience has shown to expect it sometime in the 0230 GMT to 0330 GMT (10.30 pm - 11.30 pm US Eastern time) time window. Experience...
Former Treasury Secretary and now Harvard academic Lawrence Summers said the result of this week's Federal Open Market Committee (FOMC) meeting was a set of inconsistent decisions and actions. “I found the Fed’s action a little bit confusing” he said, citing:there...
The previous close was 7.1225---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 system that allows the value of the...
Japan finance minister Suzuki says he has no comment on FX levels. Such comments from him usually precede a huge tirade from him on FX levels. And ... here we go:FX should move stably reflecting the fundamentalsClosely watching forex movessharp FX moves are...
Data for Singapore's non-oil domestic exports, -14.7% y/y in Mayvs. -8.1% expected, prior was -9.8% in Aprildeclines in both electronic and non-electronic products---Singapore Non-oil Domestic Exports (NODX) measures the value of goods exported from Singapore...