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,...
AUD/USD higher after November retail sales
The data is here, the 2% m/m is the biggest in 2 years:Sales for the month hit AUD 36.5bn. This is a record high. High inflation, and strong population growth have played a part in this, of course.Still, AUD/USD catching a bid, showing some outperformance:I suspect...
Australian November Retail Sales +2.0% m/m (expected +1.2%)
Retail sales in Australia for November 2023 +2.0% m/mexpected +1.2% m/m, prior -0.2%%the dollar amount was AUD36.5bn, a record monthly highFor the y/y +2.2%. There is some distrust of the figures at this time of year, the relatively new Black Friday sales events in...
PBOC is expected to set the USD/CNY reference rate at 7.1502 – 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...
UK consumer spending rises in December *slower than in Nov.), boosted by lower inflation
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,...
UK like-for-like sales +1.9% in November (prior +2.6%)
British Retail Consortium (BRC) data:Like-for-like sales +1.9% y/y in Decemberprior +2.6%Total sales +1.7% y/y in DecemberNovember was +2.7%BRC comment:"The festive period failed to make amends for a challenging year of sluggish retail sales growth, as weak consumer...
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Bank of Japan likely offloaded shares as stock prices stabilize
Japanese media, Nikkei, report on how the Bank of Japan is likely to have offloaded some of the shares it has accumulated. Nikkei says The BOJ is believed to have turned a seller in 2023 as its sales of stocks previously purchased from banks as part of measures to...
Tokyo headline CPI for December 2.4% y/y (prior 2.6%)
Falling rates of inflation in the Tokyo area will likely translate to national CPI figures due in around 3 weeks. The underlying rate of inflation, the core-core (ex food and energy), which is closest to the US measure of core inflation, remains well above the Bank of...
Why the People’s Bank of China can’t ease the economic headwinds away
Mizuho on the People's Bank of China - saying that the Bank has its policy hands tied. Despite the twin bogeys of deflation and the absence of significant demand both weighing on growth there is little the PBoC can do. Mizuho nominate two main limitations on the...
Weekly survey of Australian Consumer Confidence 84.8, its highest in nearly a year
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,...
HSBC analysts predict modest strength in the yen; recovery expected this year
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,...
USA news – Massive explosion in Fort Worth, Texas
News flow on this is patchy and incomplete.It appears the explosion was at a hotel in the city, the Sandman Signature Fort Worth Texas Hotel.Fire Department and other EMS attending. Injuries have been reportedFort Worth police say they are currently working a Major...
Forexlive Americas FX news wrap: Stocks nearly wipe out last week’s losses
Markets:S&P 500 up 1.4%WTI crude down $2.81 to $71.00US 10-year yields down 3 bps to 4.01%Gold down $17 to $2028JPY leads, USD lagsThe mood was mostly sour coming into the day after another poor trading day in China but it was generally quiet and with little on...
Fed’s Bowman says she remains willing to hike if inflation progress stalls
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,...
More woes for Boeing – loose bolts found on MAX plane during inspection
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,...
Major US stock indices close with solid gains after snapping 9-week win streak last week.
The major US stock indices rebounded after its first declining week last week in over 2 months (9 week win streak). The Nasdaq index surged over 319 points or 2.20%. The Dow Industrial Average which was dragged down by Boeing shares (down $-20.26 or -18.1%) still...
Economic calendar in Asia for Tuesday, 9 January 2024 – Japan inflation data
more to comeJapanese inflation data headlines the data calendar for the session ahead. I posted a one-liner preview and an explanation of the Tokyo CPI yesterday, at this link:Japanese markets were closed for a holiday on Monday, they'll reopen today. From Australia...
Trade ideas thread – Tuesday, 9 January, 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,...
USDCAD tests a key support area in what has been an up and down trading day
The USDCAD has had an up-and-down trading day. The initial move was to the upside. The price extended above the hide from Friday and also the 50% midpoint of the December trading range at 1.33971. However momentum quickly faded and the buyers turned to sellers help by...