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,...
China’s Citic Securities is forecasting a 10 bp rate cut in the five-year LPR next week
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,...
New Zealand Q1 GDP -0.1% q/q (expected -0.1%)
New Zealand data showing the country slipped into recession in Q1 with a second consecutive quarter of contraction q/q.Two consecutive quarters of negative growth (economic contraction) is generally accepted as the definition of a recession. Q1 GDP -0.1% q/qexpected...
More on JP Morgan slashing its Brent crude forecast for the year to $81 from 90 previously
Justin had the news on this here:As noted, JPM's call follows something similar from Goldman Sachs earlier in the week:A little more from JPM's note:sees global supply growth offsetting a record rise in demandsays inventory build-up lowers the risk of price...
New Zealand Q1 economic growth (GDP) data due soon – preview
Coming up at 2245 GMT, which is 1845 US Eastern time, New Zealand data:ANZ in New Zealand are looking for a little growth, a snippet from their preview: We’ve pencilled in a 0.2% q/q economic expansion for Q1, unchanged from our previously published forecast and a...
Forexlive Americas FX news wrap: Fed hits the pause button but dots signal hikes
Markets:NZD leads, CAD lagsGold up $2 to $1945US 10-year yields down 3.9 bps to 3.79%WTI crude down 68-cents to $68.74S&P 500 up 6 points to 4377.The Federal Reserve held rates as expected but still managed to deliver a surprise with the dot plot year-end level...
ECB preview – a 25 bp rate hike today and more ahead
Bank of America ahead of the European Central Bank (ECB) meeting. This is via the folks at eFX. For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. The bank...
IEA said global demand growth for oil is likely to drop off sharply over the next 5 years
The International Energy Agency issued its monthly report on Wednesday. IEA executive director Fatih Birol comments in the report said he expects oil demand growth will "slow almost to a halt" in the years ahead, citing the pivot away from fossil fuels accelerating....
Doubleline’s Gundlach says Stock market is showing signs of a mania
Jeffrey Gundlach was interviewed on CNBC, and had some pithy hot takes:The stock market, frankly, is exhibiting signs of a maniaTo call this a new bull market is really pushing it. Calls the FOMC decision a "hawkish pause"Don't think the Fed will continue to hikeReal...
Asia Economic calendar 15 June 2023: NZ GDP, Australia job report, China economic activity
Not shown below is the interest rate decision from the People's Bank of China today. Around 0115 GMT (9.15 pm US Eastern time) is the Bank's Medium-term Lending Facility (MLF) rollover. China state-controlled financial media says PBOC may cut MLF rate by 5 to 10 bp...
Trade ideas thread – Thursday, 15 June 2023
Well, if y'all are finished trashing stocks, I mean scooping up stocks (make up yer mind). Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive...
Major indices mixed after FOMC hawkish pause
The FOMC kept rates unchanged but the dot plot forecasts 50 basis point hikes between now and the end of the year.The initial reaction was to the downside in stocks,Dow Industrial Average was down -428.58 points at the lowsS&P index was down -31.17 points at the...
A little bit of this, a little bit of that in presser and markets
There is a little bit of this and a little bit of that in the Fed Chair comments and in the markets:In the forex, the major indices saw the dollar spike higher and then retrace. The US yields moved higher and came back off. The US stocks fell and recovered.EURUSD: The...
Why the market doesn’t care about a more-hawkish Fed
The Fed inarguably delivered a surprise on Wednesday by raising the dots plot to signal a year-end rate of 5.6% and the initial reaction was what you would expect -- selling of risk assets and buying in the dollar. However after some time to digest, the market...
NASDAQ index back in positive territory
The Feds dot plot was a hawkish pause. However, the comments from the Fed chair have been a little less scary. As a result, we are seeing a rebound in stocks. The NASDAQ index turned back into positive territory after trading down as low as -117.33 points. The index...
Powell Q&A: It seemed to make obvious sense to use to moderate pace of hikes
AI imagePowell explained that it seemed like a 'natural' evolution of policy to switch to a slower pace of hiking as they reach the final destination. However we didn't talk about doing an 'every other meeting' approach.We didn't make a decision about JulyI do expect...
Powell opening statement: Since last year, we have significantly raised interest rates
The full effects of our policy have yet to be feltNearly all policymakers view some further rate hikes this year as appropriateThe labor market remains very tightInflation has moderated somewhat since the middle of last yearInflation still has a long way to goIf the...
US dollar moves higher. Stocks move lower. Yields move higher
The Federal Reserve exerted a hawkish pause by skipping a rate hike but raising the terminal rate to 5.6% from 5.1%. That implies 50 more basis points hikes between now and the end of the year.The market which was thinking in terms of no change and the potential for...
Watch live: Federal Reserve chairman Jerome Powell hosts press conference
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,...
Hawkish dot plot leads to a US dollar rally
The US dollar is 50-70 pips higher across the board following the FOMC decision.The announcement of no change in rates was largely priced in but what caught the market off guard was a rise in the Fed's dot plot to indicate that the median of policymakers see rates at...