New Zealand Finance Minister Grant Robertson: RBNZ monetary policy committee remit and charter renewedOnly minor changes to the monetary policy frameworkMPC now required to achieve and maintain inflation between 1% and 3% rather than keepMPC should communicate key...
China State Banks seen intervening in USD/CNH – supporting the yuan
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,...
Japan finance minister Suzuki says recent FX moves are sharp, one-sided
The 'sharp, one-sided' comments are more firthright than usual. More strident.USD/JPY is getting closer to a level we can expect some actual yen-buying intervention. I've posted earlier on the sort of comments to watch for:Ok, Suzuki's statement: Fx should move stably...
Japan Ministry of Finance personnel reshuffle – yen intervention guy Kanda unmoved
Japan's Finance Ministry's Vice Finance Minister for International Affairs Kanda. He is the guy who will instruct the BOJ to intervene, when he judges it necessary. Often referred to as Japan's 'top currency diplomat'.In a show of stability from the Japanese...
ForexLive Asia-Pacific FX news wrap: PBOC slows the fall in the yuan
The People’s Bank of China fixed the onshore yuan stronger than expected at the reference rate setting today. The expected rate was just shy of 7.22 but the Bank set USD/CNY under 7.21. This was the second day in a row the PBOC had set the CNY stronger than expected....
Bank of Canada Deputy Governor Kozicki speaking Tuesday on inflation
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,...
Chinese Premier Li is speaking – says globalization is intact despite some setbacks
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,...
Morgan Stanley on US stocks – “risks for a major correction have rarely been higher”
A note from US equity strategist at Morgan Stanley Michael Wilsonsaid "risks for a major correction have rarely been higher""In our view, the headwinds significantly outweigh the tailwinds," "Our highest conviction view remains our well below consensus forecast for...
AUD/USD higher after yuan set higher
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 is leaping higher
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,...
USD/JPY around 145 could be the trigger for Bank of Japan policy change
UBS SuMi TRUST Wealth Management in Japan with comments on the yen and a likely level to watch:Any rapid yen weakening, like toward 145 (to the U.S. dollar) in the short-term, might trigger an early (policy) adjustment as the BOJ is in favour of a stable yen move in...
PBOC set the onshore yuan stronger than expected, USD/CNH tumbling
I posted earlier on likely moves from the People's Bank of China to slow down the drop for the yuan:Which is what we have today. While the CNY is weaker, its been set not nearly as weak as was expected:USD/CNH has dropped (CNH is the offshore yuan, its gained from its...
Lacklustre start to the final week of June: Copper, Nikkei 225, EUR/GBP
Market RecapWall Street added to recent losses overnight (DJIA -0.04%; S&P 500 -0.45%; Nasdaq -1.16%), as the moderation from previous overbought technical conditions and extreme bullish sentiments continues. Amid the relatively quiet US economic calendar to start...
PBOC sets USD/ CNY central rate at 7.2098 (vs. estimate at 7.2194)
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...
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PBOC 1 of only 2 G10 central banks in easing mode. Weak yuan. Not currency rocket science.
Via National Australia Bank, comments on the Chinese yuan:June-to-date changes for major currencies shows the standouts are the 2.9% rise in USD/JPY and 1.8% gain for USD/CNY , against which every other G10 currency is stronger against the USD. Only two major central...
PBOC is expected to set the USD/CNY reference rate at 7.2194 – Reuters estimate
Yuan has had a one-way ticket to weakness. The PBOC have been supportive of the devaluation, a lower yuan is a form of stimulus for the export sector. The rapid pace of the fall is expected to result in the PBOC moving to slow the descnet. People's Bank of China...
Poll: Bank of England expected to raise rates 25bp at both the August & September meetings
The consensus expectation for the next moves from the BoE's Monetary Policy Committee is for two 25 bp rate ikes, at the next two meetings on August 3 and September 21.In a Reuters poll the consensus opted for 5.5% to be the peak, though there were higher, one analyst...
Australian weekly consumer confidence survey 74.9 (prior 72.4)
The ANZ - Roy Morgan consumer confidence survey is conducted weekly.Comes in at an improved, but still awful, 74.9The previous week's abysmal 72.4 was its weakest since April 2020ANZ comment:Consumer Confidence rose but is below 80 for the 17th straight week, the...
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