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 Wanda bonds halve in value since January, “Its really bad, moving in one direction”
The Wall Street Journal with the report on Chinese shopping-mall operator Wanda Properties and the slashing of their junk bonds:In January, Wanda Properties sold a $400 million bond, then another a month later, raising hopes of a junk-bond revival. Now, Wanda has been...
ForexLive Asia-Pacific FX news wrap: USD/JPY higher with BOJ Gov Ueda steadfast on easing
USD/JPY rose during the session from under 139.00 to around 139.25 as I post. Bank of Japan Governor Ueda spoke before parliament sticking to his support for easy monetary policy. There is more on what Ueda said in the bullet points above, but the summary is the man...
Binance has suspended US currency deposits – cites SEC law suit
Bitcoin down on the news, circa USD26400Binance statement:The SEC has taken to using extremely aggressive and intimidating tactics in its pursuit of an ideological campaign against the American digital asset industry. Binance.US and our business partners have not been...
China’s economy stumbling, likely headed for a lost decade says ex-IMF official
A former IMF official, Desmond Lachman, wrote an op-ed in US media outlet Barrons:So much for the Chinese economic boom. Last year China ended a disastrous zero-Covid policy that had crippled its economy. A rush of growth was widely expected to follow. Instead of...
Bank of Japan Governor Ueda says will patiently maintain current monetary easing
More from Bank of Japan Governor Ueda, he spoke earlier also:More from him now: Will patiently maintain current monetary easingBy supporting economy, we can create positive economic cycle where wages rise both on nominal, real basisGovernor Ueda does not sound like a...
China – Government adviser says rates should be cut again to boost economic recovery
Bloomberg report on advice to the government from Liu Yuanchun, president of Shanghai University of Finance & EconomicsChina should cut interest rates to alleviate private firms’ financing burdens and boost the economic recoverySaid private companies’ borrowing...
Commonwealth Bank of Australia says chance of Australian recession this year is 50%
CBA summary points of their forecasts:We forecast GDP growth to be 0.7%/yr at Q4 23 and 1.9%/yr at Q4 24. Broadly flat real household consumption over the remainder of 2023 sits at the heart of our forecasts for the economy to grow significantly below trend and be in...
China CPI for May 0.2% y/y (expected 0.3%) & PPI -4.6% y/y (expected -4.3%)
China inflation figures for May 2023 China CPI 0.2% y/y vs. expected 0.3% y/y, prior 0.1%the m/m CPI was -0.2% (expected -0.1, prior -0.1) PPI -4.6% y/y Wholesale price inflation has sunk further into deflation. The biggest impact on the PPI right now in China appears...
Heads up for Chinese inflation data due in just a few moments time – bottom of the hour
> Heads up for Chinese inflation data due in just a few moments time - bottom of the hour China Stock Market <!--> --> <!--> --> Earlier posts:Data due at 0130 GMT, 2130 US Eastern time. ADVERTISEMENT - CONTINUE READING BELOW <!--> Tags...
PBOC sets USD/ CNY reference rate for today at 7.1115 (vs. estimate at 7.1122)
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...
Crude Oil Price Bounces Around but is Unable to Break the Range. Where to for WTI?
Crude Oil, OPEC+, WTI, US Dollar, IRAN – US DEAL, China – Talking PointsCrude oil saw notable intraday volatility but ended near where it started overnightA deal between the US and Iran could see more production to compensate for OPEC+ cutsThe US and Chinese economies...
BoJ Governor Ueda says will take into account effect and cost of policy measures
Bank of Japan Governor Ueda comment hitting the news. he is speaking before parliament. Says that the Bank will strive to guide well-balanced policy taking into account effect and cost of policy measures.It's the taking into account effect and cost of policy...
PBOC is expected to set the USD/CNY reference rate at 7.1122 – 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...
US media report: Saudi crown prince threatened ‘major’ economic pain on U.S. amid oil feud
Oil news, and with wider implications on who the Saudis now consider their partners:in private, Crown Prince Mohammed bin Salman threatened to fundamentally alter the decades-old U.S.-Saudi relationship and impose significant economic costs on the United States if it...
US news – Former President Trump has been indicted in classified documents probe
Not forex related but big news nevertheless. Not unexpected news though. Former President Trump says he is being indicted in classified documents probe. His lawyers have received the paperwork. Trump has been summoned to appear in a Miami court on Tuesdayhe has been...
CIBC on “Upside risks to AUD” – forecast to 0.69
CIBC on the Australian dollar, forecasting 0.68 in Q3 2023 & 0.69 in Q4.CIBC cite:After surprising markets with rate hikes in May and June, RBA Governor Lowe has remained hawkish in recent speeches as he focuses on the problem of low Australian labour...
ICYMI: Weighty consensus expects the ECB to hike rates in June and July, sticky inflation
Reuters polling of 59 analysts shows 43 of them expect a double whammy rate rise from the European Central Bank.All 59 tip a +25bp June rate hike43 tip June and then +25 in July alsoReuters add:"A 25 basis point rate hike looks like a done deal for next week's...
Chinese May inflation data due today. CPI expected a touch higher, PPI lower – preview
Due at 0130 GMT, which is 9.30pm US Eastern time:A preview via one of Australia's 'big four' banks, the Commonwealth Bank of Australia. Australian analysts keep a keen eye on Chinese economic developments. Low official inflation data from is no hurdle to further...
JP Morgan says US regional banking crisis stress is unlikely to trouble the eurozone
A note via JP Morgan on the US banking crisis and its lack of spillover into Europe. I thought this was hashed out already? Maybe not. Anyway JPM says stresses due to the regional banking crisis in the US is unlikely to affect the Euro zoneEuropean banks haven't yet...