Aluminum jumped as much as 9.4%, the most since the current form of the contract was launched in 1987 at the LME, while nickel rose as much as 8.8%.The jumps come after The London Metal Exchange on Saturday banned Russian metals from its system to comply with new...
US dollar edges to the lows as Australian dollar leads a comeback
The Australian dollar is the top performer today and is making fresh session highs, up 27 pips. It's part of a broader move that includes USD selling, excluding against the yen. It's a broad, risk-positive move as the market calculates that any Israeli response to...
Gold rebounds tentitively after Friday reversal. ANZ eyes $2500
Gold is up $13 early in the week after a spike to record highs and a nearly $100 reversal on Friday.Gold continued to heat up for most of last week but it ended it a concerning fashion as it spiked to $2430 only to fall as low as $2335. It's bounced today but...
USD/JPY stretches to fresh 34–year high
The geopolitical bid in the yen has largely reversed.The pair is at a fresh 34-year high, up a half-cent on the day as the market senses a peaceful resolution in the Iran-Israel skirmish. The signal from FX is consistent with equity (futures +0.4% in the US) and bonds...
ForexLive Asia-Pacific FX news wrap: USD/JPY extends higher again
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Japan finance minister Suzuki says watching FX moves closely
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Federal Reserve Bank of Dallas President Lorie Logan is speaking soon, at 0630 GMT
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European Central Bank chief economist Philip Lane is speaking on Monday
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,...
Bank of England Deputy Governor Sarah Breeden speaks on Monday
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US data focus for Monday – March retail sales – the range of expectations to watch
On Monday at 1230 GMT, which is 0830 US Eastern time we get retail sales for AMrch 2024. The Federal Reserve will be paying attention to assess the strength of the consumer and, in turn, the US economy. Stronger than expected will boost the case to delay rate cuts,...
PBOC sets USD/ CNY reference rate for today at 7.0979 (vs. estimate at 7.2478)
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,...
USD/JPY still making 30+ year new highs
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Tesla (TSLA) is rumored to be preparing a massive round of layoffs
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Aluminum and nickel have rocketed higher on the London Metal Exchange
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Goldman Sachs raises its year-end gold forecast to $2,700, from $2,300 previously
Goldman Sachs has updated its gold price forecast to $2,700 per ounce by year’s end.GS says recent price rises are unrelated to the usual macroeconomic factors linked to gold, “real rates, growth expectations, and the dollar”"None of those traditional factors...
PBOC is expected to set the USD/CNY reference rate at 7.2478 – 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...
Apple’s global shipments of Iphones -9.6% in the first quarter of 2024 (Xiaomi surge)
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Japanese machinery orders beat expectations for February, a good sign for capex ahead
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ICYMI: New bank lending in China rose less than expected in March
Data from Friday from China showed new bank lending in China rose less than expected in March, although up from February. Broad credit growth hit a record low.Chinese banks new yuan loans in March were 3.09 trillion yuanfrom 1.45 trillion yuan in Februaryexpected was...