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,...
Germany Q1 final GDP -0.3% vs 0.0% q/q prelim
GDP (non-seasonally adjusted) -0.2% vs +0.2% y/y prelimGDP (working day adjusted) -0.5% vs -0.1% y/y prelimWhat initially was supposed to be marginal growth turned out to be flat growth, and is now revised to a contraction in the German economy in Q1. As such, that...
Germany June GfK consumer sentiment -24.2 vs -24.0 expected
Prior -25.7; revised to -25.8The reading still marks an improvement to the previous month, but there are still mixed feelings about the situation in Germany at the moment. While income expectations have improved again, both the propensity to buy and economic...
Trade ideas thread – European session 25 May 2023
And so dollar bulls finally got the much needed break this week, as some hawkish Fedspeak yesterday and another drop in equities validated the technical developments from last week. Adding to that now is further breaks lower in AUD/USD and NZD/USD, alongside a...
FX option expiries for 25 May 10am New York cut
There are a couple today which are of decent sizes for EUR/USD and USD/JPY, but none of which should be too impactful in general.Trading sentiment at the moment is largely dictated by the dollar mood and technicals, so those will be stronger drivers in the session...
A couple of light releases coming up in Europe today
The dollar is holding slightly higher to start the day, though the changes are relatively minor for some major currencies. The greenback is very much in the driver's seat at the moment, as highlighted here.Even with a bit of a pullback higher in US futures today, it...
Dollar stays in the driver’s seat for now
A couple of more hawkish Fed talk and a further drop in equities is fueling the next leg higher in the dollar now. The greenback saw a couple of key technical breaks at the end of last week but it took a while before they started running this week. But now that it...
Bank of England Monetary Policy Committee member Haskel speaking Thursday, 25 May 2023
1630 GMT/ 12:30 US Eastern time: Jonathan Haskel, Member of the monetary policy committee, Bank of Engalnd: Speech at Peterson Institute for International Economics, WashingtonBe prepared for remarks pertinent to traders after surprisingly high CPI data from the UK...
Reports a ship grounded in the Suez canal
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 speakers Thursday, 25 May 2023 include de Guindos, Nagel, Centeno, de Cos
0900 GMT/05:00 US Eastern time: Presentation of the ECB Annual Report 2022 by ECB Vice President Luis de Guindos at the ECON Committee in Brussels, Belgium1030 GMT/06:30 US Eastern time: Bundesbank chief Joachim Nagel speaks1330 GMT / 09:30 US Eastern time: ECB member...
ForexLive Asia-Pacific FX news wrap: Fitch place US credit rating on rating watch negative
We had warnings on the US debt limit stalemate from both Moody’s and Fitch today. Fitch placed the United States' 'AAA' on rating watch negative:“The contested 2020 presidential election, brinkmanship over the debt limit to advance political agendas, and failure to...
Federal Reserve speakers on Thursday, 25 May 2023 include Barkin and Collins
Federal Reserve speakers coming up today. Both of these events seem likely to produce remarks of interest to traders. 1350 GMT/09:50 US Eastern time: Federal Reserve Bank of Richmond President Thomas Barkin speaks on the state of the region at the SWVA (Southwest...
US Treasury says the Fitch warning reinforces need for debt limit hike
From Fitch:US Treasury statements: Brinkmanship over the debt limit does serious harm to businesses and American families, raises short-term borrowing costs for taxpayers, and threatens the credit rating of the united statesTonight’s warning underscores the need for...
Singapore, Korea – concerns over Chinese economic perfomance
The Bank of Korea kept its benchmark rate unchanged for a 3rd consecutive month today:Statement from the Bank of Korea, main points: Economic growth to remain weak for some timeInflation will likely fall considerably before rebounding slightly for rest of yearPace of...
Dai-ichi Life economist says Bank of Japan can remove yield curve control if risks subside
Toshihiro Nagahama is an economist at Dai-ichi Life Research Institute and a participant in a key government panel was invited to speak at the panel's special session on economic policy held May 15Says the Bank of Japan (BOJ ) may abandon its bond yield cap this year...
PBOC sets USD/ CNY reference rate for today at 7.0529 (vs. estimate at 7.0515)
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% from this daily reference rate.CNH is the offshore yuan. USD /CNH has no restrictions on its trading...
Bank of Korea leaves its base rate unchanged at 3.5%, as 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,...
JP Morgan reiterate their Bank of England forecast, expect +25bp rate hike in June
On Wednesday we had higher than expected UK CPI data:Via JP Morgan:This is the third consecutive large upside surprise in the UK inflation data While we think today’s news presents a good case for the BoE to consider a 50bp hike next month, we are maintaining our...
Monetary Authority of Singapore says current monetary policy is appropriate
The Monetary Authority of Singapore schedule two monetary policy meetings a year, in April and October. It has unscheduled meetings as required.An official at the Singaporean central bank says current policy is appropriately restrictive in slowing down the momentum of...
PBOC is expected to set the USD/CNY reference rate at 7.0515 – Reuters estimate
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...