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Dollar bulls were hopeful to try and secure a breakout move for a stronger rebound last week. The technicals were certainly lining up well but we are seeing that get checked back now to start the new week, building on the dollar's drop on Friday.It could be some...
The times below are listed in US Eastern time / GMT format:08:30/1230 Federal Reserve Bank of St. Louis President James Bullard participates in a discussion on the U.S. economy and monetary policy 10:50/1450 Federal Reserve Bank of Richmond President Thomas Barkin and...
Media reports are of an unusual spate of sudden cancellations or shutdowns in the past week. The events cancelled range across across arts, business and equality:a convention for female tech entrepreneurs in Shanghaia concert by a Japanese band in Guangzhoua...
The times below are listed in US Eastern time / GMT format:05:00/0900 Opening remarks by ECB Vice President Luis de Guindos at workshop "Policy proposals to reduce the climate insurance protection gap" 05:00/0900 Guest lecture by Member of the ECB's Executive Board...
Biden says his talk with McCarthy went well, will speak again Monday (US time)UK Times reports coordinated manipulation by central banks to rig LiborGoldman Sachs are not expecting major Chinese policy stimulus to spur economyUS Commerce Dept firmly opposes Chinese...
This is US debt limit talks related, of course. A bit of positive news. As the news flow on this swings from optimistic to pessimistic and back again there are market impacts. Hence we post these b/s sort of headlines just to keep track. Don't have to like it....
The UK Times with the report that Rigging of Libor was ‘state-led’.The Times is gated, here is the link if you can access it. If you can't access the Times report @izakaminska has distilled "a few of the most shocking extracts" of the piece in a series of tweets:This...
The People's Bank of China left rates unchanged today:Unchanged now for the 9th month in a row. Recap of what's happening with China's economy:weakening yuanwidening yield differentials with the USrecent data shows a faltering economy after the initial post-COVID...
The context for this is the ban China has slapped on the Us firm:The US Commerce Department responding now, say it vehemently rejects China's limitations on Micron says ban is unfounded in realitysays that alongside recent raids on other US companies, run counter to...
A survey conducted by Accountants BDO has found that nearly 50% of medium-sized British companies plan to delay investment plans due to last month's rise in corporation tax. The headline rate rose to 25% in April from 19% in the year prior. 46% of businesses surveyed...
People's Bank of China policy rate settingCurrent LPRs, which have unchanged for 9 consecutive months:3.65% for the one yearmost new and outstanding loans in China are based on the one-year LPR4.30% for the five yearmost home mortgage rates are based on the...
Earlier: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...
Just an update on the US debt limit negotiations.Biden and McCarthy are to meet Monday, US time. Underlings from the two sides have been meeting Sunday afternoon/evening in Washington. Now a statement from White House Adviser Richetti says that work will continue...
A snippet via Nomura on the dollar. Analysts at the firm cite global economy woes manifesting:European and Chinese data surprises are in free-fall. ZEWs, IP, Factory orders and retail sales have really pushed the euro area data surprise to big lowsWhich is reason...
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,...
Following Federal Reserve Chair Powell's remarks on Friday last week:A snippet from Goldman Sachs:Powell noted that the FOMC had “come a long way in policy tightening”This week's comments from the Fed leadership are consistent with our expectation for a pause at the...
Via a note from Barclays, in brief. Analysts there are nervous over 'mega-cap' stocks inflating the index, which intensified after the banking crisis.“Mega-cap outperformance is not unusual in historical instances of heightened stress, so Big Tech multiples could see...
An article in the Wall Street Journal (gated), written by Fed insider Nick Timiraos re comments from Federal Reserve Bank of Minneapolis President Neel Kashkari Main points:“I’m open to the idea that we can move a little bit more slowly from here,” “I would object to...
The Shadow Board are divided over their recommendation to the Reserve Bank of New Zealand at Wednesday's meeting. In brief from the NZIER report:The Shadow Board is divided over whether the Reserve Bank should increase the Official Cash Rate (OCR) in the May Monetary...