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,...
European Central Bank President Lagarde speaks Wednesday, Visco also
This first up from the European Central Bank today at 0800 GMT/ 0400 US Eastern time, Stability report:Then:0830 GMT/04:30 US Eastern time: Bank of Italy's governor and ECB member Ignazio Visco delivers a speech at the central bank's annual general meeting1230...
ForexLive Asia-Pac FX news wrap: China’s Manufacturing PMI slides further into contraction
The key focal point of the session was the China data, the official PMIs for May. Both the Manufacturing and non-Manufacturing PMIs fell from April, with Manufacturing slipping further into contraction. Large enterprises (many state-owned and supported) fared better...
China’s PMI folks appear to be calling for more urgent stimulus
The PMI data from China for May was disappointing:The data releases have catalysed a lower Australian dollar, and other risk also. China's National Bureau of Statistics (NBS) says economic activity in China fell slightly in May. And that this indicates there is a need...
Australian Private Sector Credit for April +0.6% m/m (prior +0.3%)
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,...
Australia data: Q1 Construction Work done +1.8% (expected +0.5%)
Construction work done up 1.8% in the March quarterexpected +0.5%, prior -0.4%residential construction work fell 2%The data will go into the GDP figures, to be published on Wednesday 07 June 2023 11:30am Sydney time (0130 GMT, 9.30pm US Eastern time). There are plenty...
AUD/USD net lower after the inflation report and Chinese PMIs after wild swing
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 Official May PMIs: Manufacturing 48.8 (expected 51.4) Services 54.5 (expected 54.9)
From China's National Bureau of Statistics (NBS), the manufacturing PMI comes in at 48.8expected 51.4, prior 49.2that expected is via Bloomberg, Reuters survey was 49.5 expectedNon-manufacturing PMI comes in at 54.5expected 54.9, prior 56.4Composite PMI is 52.9prior...
Australian CPI for April 6.8% y/y (expected 6.4%)
The Monthly CPI (inflation ) report is not as comprehensive as the quarterly and should be viewed as a guide only. Comes in at 6.8% y/y ... the RBA won't like thisexpected 6.4%, prior 7.0%The most significant price rises were Housing (+8.9%), Food and non-alcoholic...
PBOC sets USD/ CNY mid-point today at 7.0821 (vs. estimate at 7.0764)
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...
New Zealand business confidence improves in May from April but still very weak
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 debt limit bill advances to House for voting
The US House committee examining the bill has votes to advance it to the House for a vote. The bill will suspend the debt ceilingThe House is expected to vote on it Wednesday and then send it to the Senate. Indications so far are that the bill will pass and the debt...
Reserve Bank of Australia Governor Lowe testimony recap – pain ahead for households
Comments from Reserve Bank of Australia Governor Lowe are here from earlier:Reuters have popped up a recap of his testimony:"Mid-2025 is pressing the length of time we can reasonably take, because if we take longer than that, people may reasonably say: 'Are you...
PBOC is expected to set the USD/CNY reference rate at 7.0764 – 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...
Bank of Japan Governor Ueda says higher CPI is supply-driven inflation
Bank of Japan Governor Ueda In response to supply-driven inflation , central banks' decision making faces the difficult dilemma between considerations of economic activity and the need to tackle surging inflationIncrease in inflationary pressure has been caused by...
Goldman Sachs China PMI preview – leading indicator suggests manufacturing stabilising
Goldman Sachs’s China economist cites China’s emerging industries purchasing managers index (EPMI):recorded an uptick in MayEPMI is widely seen as a leading indicator of China’s official manufacturing PMIsuggests that “a tentative sign that manufacturing activity may...
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Japan data: April Industrial Production (preliminary) -0.4% m/m (expected 1.5%)
Japanese April Industrial Production (preliminary) -0.4% m/m, first fall in 3 monthsexpected 1.5%, prior 1.1%for the y/y -0.3%expected +2.0% prior -0.6%April retail sales data have missed also:-1.2% m/mexpected +0.5%, prior +0.3%+5.0% y/yexpected +7.1%, prior...
PIMCOs base case is an Australian recession, expecting a soft landing is a fool’s paradise
Remarks recently from PIMCO co-head of Asia Pacific Portfolio Management Rob Mead:Australia is fast approaching a mortgage cliff for fixed rate mortgageswill place further pressure on households and the economy[fixed rate loans] ... got to almost 50 per cent in the...
UK business confidence slips lower in May
Lloyds Bank Business Barometer, a measure of sentiment amongst British businesses, fell to 28% in May from 33% in AprilMay is the first drop in 3 monthsbusinesses' optimism about the wider economy fell by six points to 22%trading prospects for the next twelve months...