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What has changed after the US CPI and FOMC?
The May US CPI surprised to the downside yesterday making the market to fully price back in 2 rate cuts by the end of the year and expecting a more dovish Fed. Unfortunatelly, that wasn't the case because the Fed's projections and dot plot surprised on the hawkish...
European equities a touch lower at the open
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Spain May final CPI +3.6% vs +3.6% y/y prelim
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ECB’s Vasle: Possible for more rate cuts if baseline scenario holds
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Switzerland May producer and import prices -0.3% vs +0.6% m/m prior
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Germany May wholesale price index +0.1% vs +0.4% m/m prior
Prior +0.4%Compared to the same month last year, wholesale prices are seen down 0.7%. That owes much to lower prices for chemical products, which were seen down 13.9% relative to a year ago. As for the monthly figure, the increase owes to higher wholesale prices for...
FX option expiries for 13 June 10am New York cut
There are quite a number to take note of for the day, as highlighted in bold.The first ones are for EUR/USD and they are layered between 1.0775 to 1.0810. Given that price action is also meddling with the key daily moving averages at 1.0788-02 currently, the expiries...
Some time to digest the events yesterday before more US data
Are we due a turnaround Thursday? The dollar is keeping a little firmer now as we look towards European trading, after the sort of poker game from the events yesterday. It was a case of CPI giveth, Powell taketh away as markets had to adjust their convictions back and...
What now after the US CPI and Fed showdown yesterday?
And it sure did not disappoint. It was very much like a poker game, with the flop (CPI report) being presented first. Then, we moved on to the turn (dot plots) and finally the river (Powell's presser). Overall, it ended with a push and pull by the time we wrapped...
ForexLive Asia-Pacific FX news wrap: Aussie jobs report barely creates a ripple
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Federal Reserve Bank of New York President John Williams speaks on Thursday
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China’s SAFE (forex regulator) says it’ll severely crack down on illegal FX activities
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ANZ forecast for Brent crude oil to USD95/bbl (12 month horizon)
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Australian dollar hasn’t moved much on the jobs data – here’s when the next CPI is due
The TL;DR on this post here is that the next round of inflation data for Australia is due on Wednesday 26 June 2024at 1130 Sydney timewhich is 0130 GMT and 2130 US Eastern time (on Tuesday 25 June)The jobs data earlier:This was a good report, nearly 40K jobs added,...
Two speakers from the Bank of Canada on Thursday: Gov. Macklem and Dep. Kozicki
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Chinese commodity trader’s US$20m shipment of Russian copper gone missing: fraud questions
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AUD/USD has not shown a big response to the latest employment report
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Australian May unemployment rate 4.0% (vs. 4.0% expected)
The jobless rate held steady at 4%, but jobs added surged well ahead of expectations at up nearly 40K (30K expected). And, all full time. This is a good report, although questions over the veracity of these figures has been around for a long while now (seasonal...
PBOC sets USD/ CNY reference rate for today at 7.1122 (vs. estimate at 7.2384)
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