USD/JPY jumped earlier on comments from Kanda pointedly not responding to Yellen - tensions are evident in the intervention realm:USD/JPY shot up to around 154.25/30 before retracing all of its gain ... and has since shot even higher, circa 154.40+ as I post....
Australian Q1 Retail sales -0.4% q/q vs. -0.2% expected
more to comeAustralian Q1 Retail sales -0.4% q/q vs. -0.2% expected and +0.3% priorThe sustained high cash rate and cost of living pressures are weighing on Australian spending. Despite the RBA holding the cash rate high, inflation is showing a tendency to be sticky...
PBOC sets USD/ CNY central rate at 7.1002 (vs. estimate at 7.2143)
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ICYMI – EU proposes sanctions on Russian LNG – would hit about a quarter of revenues
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Bank of England preview – on hold in May with expectations firming for a June rate cut
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Japan Jibun Services PMI for April 2024: 54.3 vs. prior 54.1
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PBOC is expected to set the USD/CNY reference rate at 7.2143 – 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...
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Reserve Bank of Australia preview – more hawkish
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,...
Wall Street Journal reports Apple is developing AI chips for data centres
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Japan’s Kanda says no comment on Yellen’s comments on FX
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UK Barclay card data shows annual growth in consumer spending weakest since February 2021
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Reports now that the assassination attempt on Saudi Crown Prince is fake news
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Bank of England preview – expect a change in the messaging in favour of rate cuts
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Citi CEO Fraser says low-income consumers have turned far more cautious with spending
Citigroup CEO Jane Fraser spoke in an interview with CNBC on Monday, sounding alarm bells on the tenous situation low-income households now find themselves in in the US:seeing a “K-shaped consumer”means the affluent continue to spend, while lower-income Americans have...
There are reports of an assassination attempt on Saudi Crown Prince Mohammed bin Salman
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Goldman Sachs continue to bang the ‘two rate cuts this year’ drum – this time the CEO
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Biden adviser: Sufficient supply in Strategic Petroleum Reserve to address supply concerns
Amos Hochstein is the Special Presidential Coordinator for Global Infrastructure and Energy Security.Says the US has sufficient supply in Strategic Petroleum Reserve (SPR) to address any supply concernsthe Biden administration is monitoring marketsI don't know what...
Forexlive Americas FX news wrap 6 May: US stocks extend gains from last week. USD mixed.
It was a quiet day on the economic event front with only the "employment trends" for April on the economic calendar. That index declined in to the lowest level since May 2021, but was largely ignored by the market. There were two Fed official speaking. Richmond Fed...
RBA decision due Tuesday, 7 May 2024 at 2.30 pm Sydney time – hawkish hold?
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