Global growth seen at 2.7% in 2023, 2.9% in 2024 (previously 2.6% and 2.9% respectively)US growth seen at 1.6% in 2023, 1.0% in 2024 (previously 1.5% and 0.9% respectively)China growth seen at 5.4% in 2023, 5.1% in 2024 (previously 5.3% and 4.9% respectively)Eurozone...
European equities little changed at the open today
Eurostoxx -0.1%Germany DAX flatFrance CAC 40 -0.1%UK FTSE -0.2%Spain IBEX -0.2%US futures are also reflecting a similar mood, keeping little changed as we get the session underway. There is a sense of apprehension in the air, as investors are not wanting to firm up...
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France April trade balance -€9.71 billion vs -€8.02 billion prior
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’s Schnabel: The impact of our policy on inflation expected to peak in 2024
However, there is great uncertainty over the strength and speed of this processAfter having been wrong for the longest of time on the inflation outlook narrative, ECB policymakers are certainly not shying away from the spotlight now that inflation data is starting to...
CBA sees one more rate hike by the RBA, most likely in August
Commonwealth Bank is one of Australia's "big four" but all of them got it wrong when it came to forecasting a decision for yesterday's RBA meeting. The bank now sees just one more rate hike after the surprise yesterday, with it being a 25 bps move in August to bring...
Germany April industrial production +0.3% vs +0.6% m/m expected
Prior -3.4%; revised to -2.1%German industrial output increased slightly in April, but that comes after the sharp drop in March - despite a revision higher. Looking at the details, the production of consumer goods increased by 1.5% but that is offset by declines in...
UK May Halifax house prices 0.0% vs 0.0% m/m expected
Prior -0.3%House prices -1.0% vs -0.9% y/y expectedPrior +0.1%The monthly reading may show no change in UK house prices but the annual reading has fallen into negative territory for the first time since December 2012. That highlights the underlying trend in the UK...
Switzerland May seasonally adjusted unemployment rate 2.0% vs 1.9% expected
Prior 1.9%That's a mild uptick in the Swiss jobless rate, after accounting for seasonal factors. The unadjusted reading actually showed a decline from 2.0% in April to 1.9% in May instead. As for the raw figures, the number of registered unemployed persons fell from...
Trade ideas thread – European session 7 June 2023
It's looking to be a rather slow and choppy week as markets are beginning an early countdown to the US CPI and FOMC meeting decision next week. The dollar is still in a decent spot but the trading ranges so far this week are leaving a lot to be desired.AUD/USD is...
FX option expiries for 7 June 10am New York cut
There are a couple to take note, as highlighted in bold.The first being for EUR/USD around 1.0730, though it doesn't really hold much technical significance on its own. But pair that with the confluence of the 100 and 200-hour moving averages, now seen at 1.0713-14,...
Japan April leading indicator index 97.6 vs 96.9 prior
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,...
BOJ’s Ueda: When we can foresee achieving price target, then will discuss exit policy
Too early to debate specific strategy on how BOJ could sell ETFs in the futureWhen achievement of price target can be foreseen, then will discuss specifics of exit policyAnd will disclose information as needed accordinglySure, sure. Meanwhile, Japan's finance minister...
European Central Bank speakers today: de Guindos, Knot, Panetta
Its Fed blackout time, not so from the EC:0750 GMT/03:50 US Eastern time: Speech by Vice-President of the European Central Bank Luis de Guindos at conference on financial integration jointly organised by the European Commission and the ECB in Brussels0830 GMT/04:30 US...
Trade data from China shows January – May crude oil imports are +6.2% y/y
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,...
Offshore yuan trades lower after disappointing May trade data from China
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,...
Goldman Sachs are looking for peak RBA cash rate of 4.85% in September 2023 (4.35% prior)
The RBA cash rate was raised yesterday to 4.10%.Goldman Sachs see another 75bp of rate hikes still to come. Forecast the terminal rate at 4.85% in September, from previously projecting a peak of 4.35% in July Australia's cash rate is lagging well behind inflation....
China May trade data, USD terms exports and imports both fell y/y.
China May trade data is disappointing, especially for exports. For May, in US dollar terms:Exports -7.5% y/yexpected -0.4%, prior +8.5%Imports -4.5% y/yexpected -8.0%, prior -7.9%In yuan terms (the yuan is sliding, cushioning the blow):Exports -0.8%expected +9.9%,...
ForexLive Asia-Pacific FX news wrap: PBOC sets CNY even weaker
Reserve Bank of Australia Governor Lowe spoke today after the bank raised its cash rate again yesterday. Lowe didn’t add much to his statement yesterday. In a nutshell the RBA has renewed concerns about inflation, and wage growth accompanied by declining productivity,...
Australia’s Treasurer Chalmers says rising interest rates are impacting on economic growth
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,...