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,...
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)
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,...
Japanese machinery orders beat expectations for February, a good sign for capex ahead
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,...
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...
Goldman Sachs: oil prices will be dampened by hedging after Iran weekend attack on Israel
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,...
New Zealand March services PMI plummets back into contraction at 47.5 (prior 53.0)
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,...
Gold has opened highe…. hang on, wait a minute ….
Gold opened higher but its back-filled some of that move as the subdued response to Iran's attack on Israel persists. Oil is not a lot changed from its Friday close. Major FX is pretty much the same. Gold update, 1 minute candles:The trend is strong in gold (this one...
US futures trade is open for the week – mixed response to the weekend attacks by Iran
I was trying to write an 'oil is up' or 'oil is down' headline but each time I decided the price reversed!Choppy opening, here are the 1 minute candles:The ES, S&P 500 futures, gapped up a touch and have also chopped, but remain higher. Anyway, those are the early...
WSJ: “Some Western Officials Expect Israel to Respond Quickly to Iran’s Attack”
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,...
DIARY NOTE: Federal Reserve Chair Jerome Powell is speaking on Tuesday.
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,...
MLF day in China – No rate cut expected from the People’s Bank of China
What is the MLF?The PBOC's MLF rate is a benchmark interest rate that banks in China can use to borrow funds from the People's Bank of China for a period of 6 months to 1 year, as medium-term liquidity to commercial banks.The rate is typically announced on the 15th of...
Villeroy says the European Central Bank is likely to cut interest rates in June
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,...
Economic calendar in Asia 15 April 2024
There is not much on the data calendar to move around FX today. All the data goes into the mix, of course, but this is a lower-tier stuff. For a catch up on a huge geo-political weekend:Calendar ahead:This snapshot from the ForexLive economic data calendar, access it...
Trade ideas thread – Monday, 15 April, insightful charts, technical analysis, ideas
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,...
Monday morning open levels – indicative forex prices – 15 April 2024
It was a big weekend for geopolitics (read from the bottom up for the chronology):Despite this major FX is not a lot changed. There are multiple 'hot takes' doing the rounds, the one with most credence as to why markets are, relatively, calm is that Iran gave wide...
Weekly Market Outlook (15-19 April)
UPCOMING EVENTS:Monday: New Zealand Services PMI, Eurozone Industrial Production, US Retail Sales, US NAHB Housing Market Index, PBoC MLF.Tuesday: China Industrial Production and Retail Sales, UK Labour Market report, Eurozone ZEW, Canada CPI, US Housing Starts and...
It’s the most-dangerous moment in geopolitics since the dawn of the Ukraine war
Israeli PM NetanyahuUS President Joe Biden told Israeli prime minister Benjamin Netanyahu during a call today that the US will oppose any Israeli direct counterattack against Iran, according to an Axios report that cited a 'senior White House official.' Two things:1)...
Iran says it struck an Israeli miitary base in Nagev
Iran's IRGC says it has "successfully hit important military targets" of Israeli army and "destroyed them", according to Iranian press. The Iranian government's newspaper also said that Tehran successfully targeted Israel's most important military base in Nagev using...