The US side take is here: China commerce minister comments now on the meeting with US Commerce SecretaryChinese side expressed key concerns on US economic and trade policies towards China, semiconductor policies, export controls Both sides agreed to establish...
US and China Commerce ministers met in Washington
The US 'readout' of the meeting between U.S. Commerce Secretary Gina Raimondo and Chinese Minister of Commerce Wang Wentao on Thursday in Washington"The two had candid and substantive discussions on issues relating to the U.S.-China commercial relationship, including...
Japan Services PPI 1.6% (vs. expected 1.4%, prior 1.6%)
Japan Services PPI for April 2023Japan's Services Producer Price Index (Services PPI) measures the average change over time in selling prices received by domestic producers of services indicates inflation trends within the services sector of the Japanese...
RBNZ Assistant Governor Silk says the cash rate needs to stay on hold for an extended time
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,...
Tokyo area CPI for May, headline 3.2% vs. 3.4% expected
The rate of core-core inflation (this is the excl food and energy and is the closest measure to the US 'core' CPI has risen from April and is not at its highest since April 1982. Enrgy costs fell a little in the month due to subsidies for electricity and gas supplies....
Fitch places Fannie Mae and Freddie Mac on rating watch negative
Fitch Ratings again, chipping away at the US sovereign Fitch places Fannie Mae and Freddie Mac ratings on rating watch negativeRating actions follow Fitch's placement of Unities States’ 'AAA' long-term foreign and local currency IDRS on RWN on May 24, 2023Fannie Mae's...
Lloyd’s Register drops ships of top Indian carrier of Russian oil
Reuters with the report:Lloyd’s Register has told India’s Gatik Ship Management, which has become a major carrier of Russian oil since the Ukraine war, that it will withdraw certification of 21 of its vessels by June 3, the maritime services company told...
US House Speaker McCarthy: “We do not have a deal on debt ceiling”
US House Speaker McCarthy: We do not have a deal on debt ceilingnegotiators will continue workingIts hard, but we're working and we're going to continue until we get this done---This fiasco saga jusyt goes on and on. There are around 7 days to go before a possible...
Wall Street Journal reports: Big Banks Might Face Breakup, Top Regulator Says
Acting Comptroller of the Currency Michael Hsu said:Big banks may need to be broken into smaller pieces if they become too big to manage and are unable to fix significant regulatory lapsesA bank’s failure to resolve longstanding deficiencies despite reprimands from...
New Zealand data – May consumer confidence 79.2 (prior 79.3)
New Zealand ANZ Roy Morgan Consumer Confidence index from May 2023 comes in at 79.2April was 79.3 a reading above 100 shows optimism, while below that indicates pessimismANZ comments: "While the labour market remains tight, conferring both a high degree of job...
Add more fuel to the AI boom – JP Morgan developing a ChatGPT-like service (CNBC report)
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,...
Asia market holidays – Hong Kong is closed today
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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Reserve Bank of New Zealand confirms it’ll ease loan to value restrictions from June 1
Reserve Bank of New Zealand have eased macro-prudential requirements, confirming a proposal to ease mortgage loan-to-value ratioLVR restrictions will be eased to 15% limit for loans with LVR above 80% for owner occupiersLVR restrictions will be eased to 5% limit for...
UBS on Novak’s oil blooper Thursday
If you missed the earlier remarks from Russian Deputy Prime Minister Alexander Novak, the ones where he placed his foot perfectly into his mouth Adam had the run-down here:UBS think he let the cat out of the bag with a brief take:The oil market seems dominated by...
Forexlive Americas FX news wrap: US dollar jumps as yields surge on debt ceiling
Markets:Gold down $16 to $1940WTI crude oil down $2.39 to $71.95US 10-year yields up 10 bps to 3.82%S&P 500 up 24 points to 4160USD leads, NZD lagsStrong signs that a debt ceiling deal is near combined with a surge of inflows into US tech stocks led to another...
US major indices close mixed. Dow closes down for the 5th day in a row. Nasdaq soars.
The US major indices are closing mixed with the Dow down for the 5th consecutive day in what was an up-and-down trading day for it. However, the S&P closed higher. The Nasdaq index surged 1.71% as Nvidia led to the flow of funds into it and other AI type stocks....
New York City Banking Commission freezes NYC’s deposits at Capital One and KeyBank
The headline is a wobbly one, given the recent banking system chaos. But, the detail is oh-so NY:Following the first-ever public hearing held by the New York City Banking Commission today, all three members voted to freeze deposits at Capital One and KeyBank after the...
Economic calendar in Asia Friday, 26 May 2023 – Japan (Tokyo area) inflation data for May
Tokyo area CPI data is due today. The data is for May. National-level CPI data for May will follow in about three weeks, it takes longer to gather and collate the national data.Tokyo CPI is a sub-index of the national CPIIt measures the change in prices of goods and...
Trade ideas thread – Friday, 26 May 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,...