We're not thinking about pausingAre we done? NoWe need to be confident that core inflation is heading downWe are not satisfied with the inflation outlookI don't want to comment about the terminal rate. We will know when we get thereUnless there is a material change,...
Candidate existing home sales for May 5.1% versus 12.1% expected
Prior month 11.3%Canada existing home sales for May 5.1% versus 12.1% expectedNot seasonally adjusted activity in May was up 1.4% from May 2022home price index rises 2.1% in May from April, down 8.6% year on yearHighlights from the CREA:The actual number of...
Lagarde opening statement: Eurozoneo economy has stagnated in recent months
Borrowing costs have increased steeply and loan growth has slowedWe will continue to follow a data-dependent approachRates to remain restrictive for 'as long as necessary'Manufacturing continues to weaken, while services remain resilientThe labour market remains a...
US initial jobless claims for the current week 262K vs. 249K estimate
> US initial jobless claims for the current week 262K vs. 249K estimate Weekly US initial jobless claims in continuing claims <!--> --> <!--> Prior week 261K revised 262KIn the week ending June 10, the initial claims were 262,000, which was unchanged...
Philadelphia Fed business index for June -13.7 versus -14.0 estimate
Philadelphia Fed business index for June 2023Prior month -10.4The highlights of the segment indices shows:Fed business index for June -13.7 versus -14.0 estimate. 10th consecutive negative month for the Philly Fed indexsix-month index 12.7 versus -10.3 last monthCapex...
US May retail sales +0.3% vs -0.1% expected
Prior was +0.4%Details:Ex autos +0.1% vs +0.1% expectedPrior ex autos +0.4%Control group +0.2% vs +0.2% expectedPrior control group +0.7% (revised to +0.6%)Ex autos and gas +0.4% vs +0.6% priorGasoline stations % vs -0.3% m/m priorElectronics and appliance stores...
US June Empire Fed manufacturing +6.6 vs -15.1 expected
Prior was -31.8DetailsNew orders +3.1 versus -28.0 last monthShipments +22.0 versus -16.4 last month Prices paid +22.0 versus +34.9 last month Employment -3.6 versus -3.3 last month prices received +9.0 versus +23.6 last month Inventories -6.0 versus -12.3 last...
The full statement from the ECB rate decision for June 2023
Inflation has been coming down but is projected to remain too high for too long. The Governing Council is determined to ensure that inflation returns to its 2% medium-term target in a timely manner. It therefore today decided to raise the three key ECB interest rates...
Canada May housing starts 202.5K vs 235.0K 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,...
ECB raises key rates by 25 bps in June monetary policy meeting, as expected
Prior decisionMain refinancing rate % vs 4.00% expectedPrior 3.75%Deposit facility rate % vs 3.50% expectedPrior 3.25%Marginal lending facility %Prior 4.00%Inflation has been coming down but is projected to remain too high for too longDetermined to ensure that...
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The AUD is the strongest and the JPY is the weakest as the NA session begins
The strongest to the weakest of the major currenciesThe AUD is the strongest and the JPY is the weakest as the NA session begins. The USD is stronger a day after the Federal Reserve temporarily paused its of interest rate increases, but also said it does not signal an...
Trouble brews for gold
Gold (XAU/USD) daily chartAs markets are still digesting the aftermath of the Fed decision yesterday, gold is finding it rough to stay afloat as Treasury yields are continuing to hold up. Gold had previously found support from its 100-day moving average (red line) in...
Japan lodges protest against North Korea as missile fell within EEZ
Just a bit of an update to the earlier headline here. It is said that North Korea fired two missiles today and they fell within Japan's exclusive economic zone (EEZ). Japan adds that this would be the 13th time that North Korea's missiles have landed in the EEZ in out...
ForexLive European FX news wrap: Euro keeps steady with the ECB up next
Headlines:Markets:AUD leads, JPY lags on the dayEuropean equities lower; S&P 500 futures down 0.3%US 10-year yields up 3.1 bps to 3.829%Gold down 0.7% to $1,929.74WTI crude up 1.1% to $69.19Bitcoin flat at $24,925Markets are still digesting the Fed policy decision...
North Korea has fired what could be a ballistic missile – Japan defence ministry
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,...
AUD/USD stays poised for a break higher towards the end of the week
AUD/USD daily chartAUD/USD is up 0.4% today to 0.6820 currently as buyers are staying poised in search of a break to the upside. The high yesterday did briefly breach the May high of 0.6818 and the resistance region around 0.6793-00, but the daily close (0.6795) fell...
USDJPY: BOJ Preview
On Friday night, the Bank of Japan will announce its interest rate resolution until June 16. If nothing else, the central bank will maintain its negative interest rate policy since January 2016, with the benchmark rate remaining at -0.1% while the 10-year government...
Euro holds steady ahead of the ECB later
EUR/USD daily chartAfter the Fed decision yesterday, EUR/USD managed to hold a push above its 100-day moving average (red line) and is maintaining that in trading today. That reaffirms a more bullish bias now in the pair but there is the risk of the ECB decision...
Lesser UK businesses expected to raise prices in the month ahead – ONS
That is some good news for consumers and households, with the proportion of UK businesses reporting that they would expect to increase prices next month falling to 17.0% (down from 17.7% in the previous month). The other positive anecdote is that this represents the...