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...
New Zealand September business confidence 60.9 (prior 50.6)
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,...
Japan data – August Industrial production -3.3% m/m (expected -0.9%)
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,...
Japan August Retail Sales 2.8% y/y (expected 2.3%)
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,...
The one word reason why Chinese authorities are piling into stimulus right now. Panic.
The 2024 class of university graduates in China is the largest ever, at 11.8mn. They are entering a labour market showing record youth unemployment.Media reports, in summary, outline the cornering situation facing the oldies clinging on to power in the Politburo.Youth...
Rabobank look for GBP to outperform EUR in the months ahead
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,...
Not FX. Legendary singer-songwriter Kris Kristofferson has died.
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,...
Talk of a Japanese election October 27
Japan election October 27 rumoured, NHK.Japan's NKH, Japan Broadcasting Corporation (also known as NHK) is a Japanese public broadcaster.Reporting the new Prime Minister is planning a general election for October 27.Shigeru Ishiba was elected ruling party (LDP) leader...
US economy – “There is no denying it: among the best performing economies in 35+ years”
Mark Zandi is Chief Economist at Moody's Analytics. He's posted over the weekend a glowing review of the US economy. I reckon there is a big warning in this ... but first, he is what he said (in brief):with last week’s big GDP revisions, there is no denying it: This...
Australia’s budget surplus is AUD15.8bn, way better than the 9.8bn expected
In May the Australian Treasury forecast a budget suplus of A$9.8bn. The final outcome though is way above, at A$15.8bn, which is more than A$6bn better than forecast. Revenue dropped but spending was slashed. It's the first consecutive year surplus in nearly 20 years....
Brexit or Back In? UK finance minister to attend meeting of EU finance ministers
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,...
Weekend – Taiwan on alert over ‘multiple waves’ of missile firing in inland China
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,...
Hedge funds caught short China shares, huge losses exacerbated by Shanghai exchange glitch
Info comes via a (gated) Bloomberg report. It reports that the Shanghai Stock Exchange conducted weekend stress tests, requesting brokerages take part in these tests after its systems faced difficulties handling a surge in trading activity on Friday.Weekend...
Trading New Zealand markets? NZ switched to daylight saving time over the 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,...
More stimulus from China over the weekend – banks instructed to cut mortgage rates
On Sunday the People's Bank of China announced it'd be instructing banks to lower mortgage rates for existing home loans before October 31. The PBOC said banks should reduce interest rates on existing mortgages to no less than 30 basis points (bps) below the Loan...
Economic calendar in Asia 30 September 2024 – China PMIs for September
Note, New Zealand switched to daylight saving time over the weekend as summer approaches. Speaking of New Zealand, there is the ANZ New Zealand Business Survey for September 2024 due today. The August data improved from July but was still awful:But, the focus will be...
Trade ideas thread – Monday, 30 September, insightful charts, technical analysis, ideas
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,...
Monday morning open levels – indicative forex prices – 30 September 2024
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,...
Austria’s far-right partly likely won general election
Herbert Kickl, head of the Freedom PartyAn exit poll following Sunday's vote by broadcaster ORF showed Austria's Freedom Party leading with 29.1% compared to 26.2% for Chancellor Karl Nehammer's Austrian People's Party and 20.4% for the centre-left Social...
Newsquawk Week Ahead: US NFP, ISMs, EZ CPI, Japan Tankan & OPEC+ JMMC
Mon: Chinese NBS & Composite PMIs (Sep), Caixin PMIs (Sep), Japanese Retail Sales (Aug), German Retail Sales (Jun), UK GDP (Q2), Swiss KOF (Sep), German Flash CPI (Sep), UK Mortgage Approvals/Lending (Aug), US Dallas Fed Index (Sep), New Zealand NZIER (Q3) ;...