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...
Singapore Q1 GDP (final) -0.4% q/q (expected -0.6%) and +0.4% y/y (expected +0.2%)
Singapore Q1 GDP (final) -0.4% q/q expected -2.5%, prior +0.1% Singapore’s MTI maintains 2023 GDP growth forecast at +0.5% to +2.5%, with growth likely to come in at around mid-point of the rangeSays Singapore's external demand outlook for rest of the year has...
Uk auto output up nearly 10% y/y last month – easing supply chain woes, higher exports
Data from the Society of Motor Manufacturers and Traders (SMMT) show that the number of cars made in Britain rose by 9.9% year-over-year in April.Boosting output were easing supply chain snarls, production of electric vehicles, exports to Europe strengthening. This is...
Deutsche Bank like long EUR/GBP despite upside UK inflation surprise
Justin had the UK inflation data Wednesday:Via Deutsche Bank on the data and their GBP outlook:One of the market observations we have been making is that upside surprises to UK inflation have returned to being positive for the currency so far this year, as they open...
Japan to introduce strict anti-money laundering rules on cryptocurrency transactions
> Cryptocurrency > Japan to introduce strict anti-money laundering rules on cryptocurrency transactions Cryptocurrency <!--> --> <!--> Eamonn Sheridan Wednesday, 24/05/2023 | 23:24 GMT-0 24/05/2023 | 23:24 GMT-0 --> <!--> New regulations...
Nvidia Earnings Blowout Ripples into the Nasdaq 100, US AAA Rating Cut Risk Brews
Nvidia, Nasdaq 100, S&P 500 – Asia-Pacific Briefing:Chipmaker Nvidia crushed earnings expectations, stock soars 25%Rippling effect carries Nasdaq 100, S&P 500 futures higher after-hoursNasdaq eyeing Rising Wedge chart pattern, what are key levels to watch?...
Fitch ratings place USA on rating watch negative
> Fitch ratings place USA on rating watch negative <!--> --> Eamonn Sheridan Wednesday, 24/05/2023 | 22:42 GMT-0 24/05/2023 | 22:42 GMT-0 <!--> --> more to come ADVERTISEMENT - CONTINUE READING BELOW <!--> Tags --> ADVERTISEMENT -...
Goldman Sachs says its bullish forecast on commodities was wrong. Still expects higher!
Goldman Sachs commodity analysts say its forecasts for major rises this year has turned out wrong. we were wrong on price expectationsKudos to these folks for acknowledging this. They say:“Prices continue to move against our forecasts,” cite an unprecedented clear-out...
Westpac see potential for an RBNZ cash rate hike in August
The Reserve Bank of New Zealand raised its cash rate again yesterday but signalled the end of the cycle:Westpac's take (in brief):The big surprise was in the forward profile, in which the RBNZ strongly suggests that it is on hold from here until at least mid-2024. We...
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Moody’s warns that lawmaker statements during debt talks could prompt US outlook change
Moody's says it expects the U.S. government will continue to pay its debts on time, but has warned that public statements from lawmakers during the debt ceiling negotiations could prompt a change in its assessments of the U.S. credit outlook before a potential...
Feds Bostic says best case scenario is Bank won’t consider a rate cut until well into 2024
Federal Reserve Bank of Atlanta President Raphael Bostic remarks hitting the news wires. the Federal Open Market Committee (FOMC) will base its interest rate decisions on dataFed does not want to be locked into a pre-determined rate pathexpects to see stress in the...
US House Speaker McCarthy says could get a debt agreement in principle this weekend
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,...
Confirmed – US House members to head home after Thursday
Related to this earlier:Confirmed now, members will be given the Memorial Day holiday break to head home:will receive 24 hours notice to get back to D.C. if neededall members to have 72 hours to review any such legislative text relating to the debt ceilingDebt ceiling...
The South Korean PPI has risen at its slowest y/y rate since January 2021
South Korea April Producer Price Index (a 'wholesale' inflation indicator) -0.1% m/m (prior +0.1% prior)+1.6% y/y (prior +3.3%)-Encouraging news on slower inflation.Anyway, I'll let y'all get back to marvelling at NVDA earnings and despairing at debt ceiling...
House Republicans heading home for the Memorial Day long weekend, but be ready to return
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,...
McCarthy says negotiations will continue this evening
US House Speaker McCarthy said earlier thing have gotten a bit better:Finally now with an objective statement - that talks will continue Wednesaday evening US time. Meanwhile, House Democrats have signed a discharge petition to hike the limit. It needs 5 Republican...
Forexlive Americas FX news wrap: USD/JPY hits highest since Nov as Waller stays hawkish
Markets:Gold down $15 to $1959S&P 500 down 32 points to 4125US 10-year yields up 3.4 bps to 3.73%WTI crude oil up $0.98 to $73.89USD leads, NZD lagsIt was a light day for economic data but an opportunity for Fed officials to highlight where they stand on ongoing...
RBNZ Governor Orr says NZ rates are restrictive, well above neutral
The Reserve Bank of New Zealand raised its cash rate again yesterday but signalled the end of the cycle:Governor Orr speaking now, selling the messages:rates are restrictive, well above neutralboth economic growth and inflation are weaker than expectedwe can alter our...
McCarthy on debt limit talks – things are going a little bit better
LOL. "Going a little bit better'. What does that even mean? We are captive to this sort of drivel coming from both sides of the circus.US House Speaker McCarthy speaking on Fox Business News in an interview. More:I will not put a bill on the floor that spends more...