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...
Binance ’s EUR fiat deposit partner, Paysafe, will no longer provide services to exchange
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,...
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Japan May Retail Sales +5.7% y/y (expected +5.4%)
Data from Japan for May month retail sales, come out ahead of expected at 5.7% y/yexpected 5.4%, prior 5.0%For the m/m, also a beat at +1.3%expected +0.5%, prior -1.1%USD/JPY tracked higher again overnight, which should keep verbal intervention comments from Japanese...
Yellen to travel to China – racap of her national security comment earlier
Yellen said earlier that inflation was still too high, and also:Yellen is heading off to China in the early part of July (no firm dates have been publicly given). Reuters have a recap of her earlier comments here, with a little more. "We need to discuss our...
After Australia’s better CPI data yesterday NAB still expect a July RBA rate hike
Yesterday we had better-than-expected (headline) inflation data from Australia:This trimmed back expectations for a rate hike from the Reserve Bank of Australia at their next meeting, coming up on July 4. Not everyone shares that assessment though:National Australia...
Goldman Sachs tip the Russell 2000 to shoot way ahead of S&P500 in the next 12 months
Goldman Sachs cite their model for tipping Russell 2000 outperformance ahead:Russell 2000 should rise by 14% during the next 12 months, according to a simple model based on US economic growth and starting valuations that has explained roughly two-thirds of Russell...
Yellen says re China, US will protect its national security, even if it comes with costs
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 Centeno says very close to the time monetary policy may pause
European Central Bank Governing Council member and Bank of Portugal governor Mario Centeno"We are reaching the time when monetary policy can pause, we are very close," “Not overreacting is a huge concern for every central bank.” Centeno in an interview with Portugal’s...
MUFG: AUD near-term setback after yesterday’s CPI data, ahead of the RBA meeting next week
Yesterday we had better-than-expected (headline) inflation data from Australia:This trimmed back expectations for a rate hike from the Reserve Bank of Australia at their next meeting, coming up on July 4. Not everyone shares that assessment though:MUFG note that...
Goldman Sachs’ Oppenheimer says high rates will cap global risk assets from now
Goldman Sachs ’ Peter Oppenheimer is chief global equity strategist and head of Macro Research in Europe within Global Investment Research.He spoke in an interview on Wednesday with CNBC. Some comments summarise his views:“We’ve seen a big rally in equities, of...
S&P: surprisingly strong demand to keep rates higher for longer in most advanced countries
Catching up with a report from analysts at rating Agency S&P, they say they don't anticipate the monetary tightening cycle in the US will ease in 2023, and before the Federal Reserve 'clearly signals' its intent to do soAlso: "surprisingly strong" demand will keep...
Forexlive Americas FX news wrap 28 Jun:Key central bankers share hawkish bias at ECB conf.
Central bankers from leading global economies expressed the need for additional interest rate increases to bring inflation under control, due to strong labor markets. Federal Reserve Chairman Jerome Powell said that while their current policy is restrictive, it may...
Federal Reserve says US banks pass stress tests – capital ratios well above requirement
Fed stress test on banks results published. In summary, all passed, banks have enough capital to weather a severe economic slump. The pass mark paves the way for banks to issue share buybacks and dividends.Also - Large bank trading books were resilient to a rising...
ICYMI – Deutsche Bank cut both its 2023 and 2024 Brent crude price forecasts
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,...
US equities finish flat as tech leads. Micron jumps after the bell
S&P 500 dailyClosing changes in North America:S&P 500 -0.1%Nasdaq Comp +0.3%Russell 2000 +0.5%DJIA -0.2%Toronto TSX Comp +0.4%Value and smaller technology companies outperformed on Wednesday in less-volatile trading. Shares of Netflix, Google and Tesla were...
Economic calendar in Asia 29 June 2023 – New Zealand and Australian data
Retail sales data from Australia is the focus, given the Reserve Bank of Australia policy meeting is just around the corner (July 4). Steadily rising rates from the Bank are weighing on consumption. The median expectation is for a sliver of a gain m/m only. A number...
Trade ideas thread – Thursday, 29 June 2023
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,...
AUDUSD sellers in control. What would spoil the bearishness in the short term?
AUDUSD breaks lower. What next?The AUDUSD market shifted further into seller control today following the closes below the 200-day Moving Average (MA) on Monday and Tuesday, at 0.66905. Yesterday, the pair closed slightly beneath the MA at 0.6686, while Monday's...
Russian general Sergey Surovikin arrested – report
The Moscow Times reports that Russian general Sergey Surovikin has been arrested.A report yesterday in the New York Times said he at least knew about Prigozhin's plans, citing US intelligence sources.Surovikin is a major figure in the Russian military. He is currently...