The calendar is extremely light on the first trading day of the new week.EU Session:The only data point that is remotely noticeable is the EU Sentix Index, but unlikely to get any attention from markets.US Session:For the US session we have employment trends and...
S&P Global expects OPEC+ to begin oil output increases in 2025
S&P Global expects OPEC+ to start oil output increases next yearThis'll be the first time in a couple of years.Reuters rep[orting on comments from Jim Burkhard, vice president of research at S&P Global Commodity Insights. He was speaking at the APPEC...
ForexLive Asia-Pacific FX news wrap: China’s CPI slows, PPI plunges
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China’s consumer inflation picked up but was below expectations … limp demand
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Oil prices up since opening for the week – potential hurricane getting narrative love
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China August 2024 CPI +0.6% y/y (expected +0.7%)
Chinese inflation data, both CPI and PPI, for August 2024.The m/m PPI is -0.7% (prior -0.2%)The CPI is a slight miss on both the y/y and m/m. But the PPI is a shocker of a miss on both. Real rates in China re weighing on demand. And yet the People's Bank of China is...
PBOC sets USD/ CNY reference rate for today at 7.0989 (vs. estimate at 7.0951)
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Japan chief cabinet secretary Hayashi cites BOJ’s Ueda saying more rate hikes ahead
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RBC expect the RBA to cut its cash rate in February 2025 (previously forecast May 2025)
RBC has been looking for a rate cut from the Reserve Bank of Australia at the May 2025 meeting, citing:inflation in Australia remaining elevated, above RBA targetslower growth not a reason for the RBA to cut this yearRBA didn't hike as much as the Fed or ECB so the...
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PBOC is expected to set the USD/CNY reference rate at 7.0951 – Reuters estimate
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Goldman Sachs forecasts 25bp Fed rate cuts in September, November and December
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Japan (revised) Q2 GDP +0.7% q/q (preliminary was +0.8%)
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Monthly UK jobs market report showed a significant slowdown in August
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China’s Xi and Russia’s Putin both compliment North Korea
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NATO members Romania and Latvia say Russian drones violated their airspace
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Yellen says no red lights flashing for financial risks, & US economy reached soft landing
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BlackRock warns that a 50bp FOMC rate cut might signal worries, not confidence
BlackRock's Jeffrey Rosenberg spoke with Bloomberg TV (gated) in response to Friday's August jobs report. He made a cautionary note on the upcoming meeting. Rosenberg expressed concern should the Federal Reserve choose to cut the Fed Funds rate by 50bp:that might...
Oil traders heads up – NHC issues forecast Gulf of Mexico hurricane
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JP Morgan Chief US Economist Feroli thinks a 50bps FOMC rate cut ‘the right thing to do’
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