Geopolitics provided a bit of a boost to oil prices in recent months but it is a factor that always fades eventually. It's no different this time around. And with growing worries surrounding global growth, that is putting added pressure to the outlook for the oil...
A slower start for major currencies so far today
The ranges for the day are still relatively narrow for the most part, with USD/JPY again holding the largest one. That said, even the range there is just a little over 60 pips with the pair continuing to gyrate in and around the 145.00 mark.The dollar did threaten a...
Reminder: There is no ADP roulette on the agenda today
It is a Wednesday on a non-farm payrolls week. And that typically means we should observe the US ADP roulette. However, not this week at least. Monday featured a US holiday so the timeline for data releases are pushed back a little. That will see the ADP employment...
Risk stays on the defensive after the selloff yesterday
It looks like the bump higher during month-end last week was just that. Equities are starting to feel nervous again, with concerns surrounding Nvidia and tech resurfacing. It was brushed aside briefly after the earnings last week but added worries about global growth...
ForexLive Asia-Pacific FX news wrap: Australian GDP miss
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More on Bank of America cutting its forecast for economic growth in China
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European Central Bank Elderson speaking Wednesday – not on the economy or monetary policy
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S&P on New Zealand’s CA deficit – if it doesn’t narrow could trigger for rating downgrade
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SEK traders – heads up for Riksbank First Deputy Governor Breman speaking Wednesday
0730 GMT / 0330 US Eastern time:Riksbank First Deputy Governor Anna Breman participates in a panel discussion at a conference organised by the European Banking Authority (EBA) and the European Central Bank (ECB)--Sveriges Riksbank is the central bank of Sweden, and it...
Japan Chief Cabinet Secretary Hayashi says closely watching domestic, overseas mkt moves
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,...
China Caixin Services PMI for August 2024 51.6 (expected 52.2)
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Australian Q2 2024 GDP +0.2% q/q (expected +0.3%)
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PBOC sets USD/ CNY mid-point today at 7.1148 (vs. estimate at 7.1167)
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New Zealand data – ANZ Commodity Price Index, August 2024: +2.1% m/m (prior -1.7%)
In New Zealand dollar terms, the index lifted 1.5% m/m as the NZD Trade Weighted Index fell 0.7%.As part of this report ANZ cover global shipping prices:Global shipping prices remain high as ships continue to avoid the Suez Canal due to ongoing tensions in the Middle...
AUD, NZD, stocks, oil all dropping as risk off goes off furhter
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 Jibun Services PMI for August 2024: 53.7 vs. prior 53.7
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PBOC is expected to set the USD/CNY reference rate at 7.1167 – 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...
US data due Wednesday – JOLTS report a Fed go-to measure of labour market health
The Job Openings and Labor Turnover Survey (JOLTS) report is a monthly report released by the U.S. Bureau of Labor Statistics (BLS). it provides much-watched data on the US labour market, including information on job openings, hires, quits, layoffs, and...
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Harris to announce a ten-fold expansion of the tax credit for starting a small business
Axios with the heads up on what Harris is expected to speak on later today, Wednesday, September 4, 2024: proposal includes a tenfold increase in the tax deduction for starting a small business — from $5,000 to $50,000.Harris will deliver her campaign speech in New...