There are a couple of big ones to watch out for on the day, as highlighted in bold.That being for EUR/USD at around the 1.0840 to 1.0875 levels. The layers of expiries there could keep price action more sticky on the session, that especially with little else to work...
USD/JPY down slightly but still largely trapped in a technical box for now
USD/JPY daily chartUSD/JPY climbed on Monday only to erase that advance on Tuesday and is now settling marginally lower on the week. Price is slipping back below 150.00 as the push and pull continues over the last month or so.In terms of overall price action, the pair...
Bitcoin rebounds back to $65,000 after overnight plunge
Bitcoin has more than halved the sharp drop in overnight trading as it moves back above $65,000 now.Bitcoin (BTC/USD) hourly chartIt is up over 3% on the day currently after having arrested the drop at around the $60,000 mark as seen above.If you want to stick by the...
Central banks are back on the agenda this week
Adam had a post on the BOC yesterday: What's priced in for the Bank of Canada ahead of Wednesday's decisionAnd we will get to the ECB policy decision tomorrow as well. Given the circumstances, this will end up as a placeholder meeting for the ECB in all likelihood. As...
ForexLive Asia-Pacific FX news wrap: Bitcoin stabilised above $63K
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,...
Saudi Arabia raises Arab Light crude price to Asia
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 Japan seen revising down assessment on consumption, output at March meeting
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,...
Powell, Daly, Kashkari, Beige Book all coming up from the Federal Reserve on Wednesday
Powell kicks it all off at 10am US Eastern time (1500 GMT):And then plenty more. 1700 GMT / 1200 US Eastern time: Federal Reserve Bank of San Francisco President Mary Daly speaks before the 2024 National Interagency Community Reinvestment Conference1900 GMT / 1400 US...
Westpac look for a short term dip in USD/JPY
Westpac contemplates "A short-term JPY opportunity amid long-term headwinds?"In summary from the note:A textbook case for a quick USD/JPY reversal seems to be developing. The pair has been spinning its wheels between 150-151 recently, even as the hawkish repricing in...
Reserve Bank of Australia expected to deliver 75bp of rate cuts in 2024
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 wage talks – Toyota will respond to Union on March 13
Wage negotitiaons in Japan continue, with traders and the Bank of Japan looking on for signs of wage hikes that may in turn lead to the BoJ tightening policy. The latest dribble of news is that Toyota did not respond to its union's 2024 wage hike demands at the third...
RBNZ chief economist says Fed, New Zealand dollar, could bring on RBNZ rate cuts sooner
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,...
Senior Chinese officials news conference on economy coming up soon
China is holding a news conference on economic issues on the sidelines of the annual parliament meeting today, Wednesday, 6 March 2024. Speakers include National Development and Reform Commission (NDRC) Chairman Zheng Shanjie Chinese Finance Minister Lan Foan Chinese...
Chinese financial media reports that 2 NPC members urge more Party control over PBOC
A piece in China Securities Times reports that two lawmakers at the National People's Congress (NPC) have urged tighter Chinese Communist Party control over the People's Bank of China. This is not going to news welcomed by foreign investors in China, All of them will...
Powell testimony Wednesday will likely see yields rise
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,...
PBOC sets USD/ CNY mid-point today at 7.1016 (vs. estimate at 7.1939)
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,...
Australian dollar shows little response to the GDP data
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,...
Australian Q4 2023 GDP +0.2% q/q (vs. expected +0.3%)
Australian Q4 2023 GDP +% q/q expected +0.3%, prior +0.2%For the y/y its up 1.5%expected 1.4%, prior 2.1%The 'Chain price index' is an inflation indication, it rose 2.0% y/y.More:the household savings ratio increased to 3.2%, from 1.9% previously, for the first time...
PBOC is expected to set the USD/CNY reference rate at 7.1939 – 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...
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