OK, I'll admit it, my headline is a little but overblown. But, the rise of Chinese carmakers is sending shock waves through the global auto industry. For example:Via the Wall Street Journal (gated):In the U.S., General Motors said this month it was taking $5 billion...
PBOC sets USD/ CNY reference rate for today at 7.1911 (vs. estimate at 7.3165)
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,...
FOMC topside inflation risk surge (from 3 in September to 15 in December)
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Australian Inflation Expectations (December 2024) 4.2% (prior 3.8%)
Melbourne Institute Survey of Consumer Inflation Expectations in Australia for December 2024. Jumped to 4.2% from 3.8% in November. This is what I put together before today's data (which I might have to rethink!):Its recently indicated a decline in consumer inflation...
The PBOC is expected to set the USD/CNY reference rate at 7.3165 – Reuters estimate
The Bank will face a battle propping up the yuan today***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...
New Zealand December business confidence 62.3 (prior 64.9)
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The Hong Kong Monetary Authority has cut its base interest rate by 25bp, as expected
The Hong Kong Monetary Authority (HKMA) is Hong Kong’s de facto central bank.Its barely worth posting that they have cut their benchmark rate. They automatically match moves from the Federal Reserve's Federal Open Market Committee (FOMC). But, its an opportunity to...
South Korea again says preparing FX stability and liqudity measures
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New Zealand “dramatically worse than anyone had expected” – RBNZ could cut by 75bp in Feb
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Here’s a view saying BoJ to hike today (or maybe January!) – stronger yen in months ahead
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5 key take home points from FOMC day – nailed it or failed it?
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New Zealand dollar falls even further after GDP plunges
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Trump notified Japan that meeting with PM Ishiba possible in mid-January
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New Zealand Q3 GDP -1.0% q/q (vs. -0.4% expected)
New Zealand Q3 economic growth data is just awful - a much larger contraction than was expected. New Zealand Q3 2024 GDP Performance:GDP Decline: The economy contracted by 1.0% in Q3 2024, following a revised 1.1% decrease in Q2 2024.Revision of Q2 Data: The Q2...
Trump-Vance statement calls for more US debt – “increase the debt ceiling”
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New Zealand Q3 GDP data is due imminently – contraction expected
Economic growth data for Q3 2024 is due from New Zealand at 2145 GMT, which is 1645 US Eastern time. New Zealand's economic performance in the first half of 2024 was modest, with slight fluctuations in GDP.First Quarter (Q1) 2024:GDP Growth: The economy experienced a...
US stocks fall sharply after the Fed trims expectations for cuts in 2025
The major US stock indices fell sharply after the Fed signaled less easing in 2025. The end of your target for the Fed funds is now 3.9%. It was a 3.4% after the September meeting. The Dow industrial average is now down for 10 consecutive days. It's decline for today...
Forexlive Americas FX news wrap: US dollar soars on hawkish dots
Markets:Gold down $53 to $2592WTI crude oil flat at $70.10US 10-year yields up 11 bps to 4.49%S&P 500 down 2.4% in the worst day of the yearRussell 2000 down 5%USD leads, AUD lagsI mean, it wasn't that hawkish.Everyone was talking about a hawkish cut from the FOMC...
Economic calendar in Asia – Do you know what time the BoJ announcement is? Read on!
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Trade ideas thread – Thursday, 19 December, insightful charts, technical analysis, ideas
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