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...
Australian retail sales data due at the bottom of the hour – preview
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 data – BRC Shop Price Index for December: -1.0% y/y (expected –0.4%, prior –0.6%)
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 yen gains momentum (just a bit!) as base wage growth hits 32-Year High
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,...
January 9 US holiday: NYSE, NASDAQ closed. CME hours impacted also. Bonds half day.
On January 9, 2025, the New York Stock Exchange (NYSE) and Nasdaq will be closed to honor former U.S. President Jimmy Carter.The CME is more complicated. In brief:Agricultural and Interest Rate Markets: Closing early at 12:15 p.m. Central Time (CT).BrokerTec U.S. Repo...
Japan wages data: Inflation adjusted real wages -0.3% y/y
Japanese wages data for November 2024Total cash earnings +3.0% y/yexpected +2.7%, prior +2.2%Overtime pay +1.6% y/yprior +0.7%Base salary, or regular pay, rose 2.7% in Novemberfastest increase since 1992As noted in the headline, inflation-adjusted real wages fell in...
ECB’s Cipollone says monetary policy should let Euro zone economy run at potential
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,...
Are US bonds being driven by an “insanity premium”?
Nobel-winning economist Paul Krugman looks at the trashing of US bond prices, writing in a post titled:"Is There an Insanity Premium on Interest Rates?""increases in long-term rates, like the 10-year Treasury rate, might reflect the horrible, creeping suspicion that...
The two stark scenarios for the US in 2025: 1. Inflation and rate hikes, or 2. Recession
Adam Posen is an economist and President of the Peterson Institute for International Economics.He argues he expects the Fed to raise interest rates in the second half of 2025, unless the Trump Administration's aggressive use of tariffs and deportations triggers a...
ICYMI – South Korea is reportedly planning to allow institutional trading of crypto
Posting this ICYMI:South Korea's Financial Services Commission (FSC) is reportedly preparing to ease restrictions on institutional cryptocurrency trading. According to Yonhap news agency, the plan seeks to gradually allow institutional investors to open trading...
UBS expect further Federal Reserve interest rate cuts from the June meeting
Outlook for the Federal Open Market Committee (FOMC) from UBS. Analysts at the bank argue that the December labor report, set to be released this Friday, and next week's inflation data will offer further insights into the U.S. economy. Although the Federal Reserve is...
Forexlive Americas FX news wrap: Initial jobless claims drop, USD stays strong
Markets:Gold up $13 to $2662US 10-year yields flat at 4.68%WTI crude down 93-cents to $73.32S&P 500 up 0.2%USD leads, GBP lagsThe US dollar finished as the top performer once again today. In the bigger picture, the market is getting increasingly anxious about...
JP Morgan: US dollar has defied gravity…and could continue doing so
A note from JPM last week argued that the dollar could keep rising, but also that its stretched and further gains are likely limited. It a conundrum, we await the straw hitting the camels back to break this trend.Summary of the note below, with various factors of...
Mixed gains/losses in the major indices
The major US indices are ending the day mixed with the Dow and S&P higher, and the Nasdaq and Russell 2000 lower. Trading conditions were up and down volatile. Tomorrow the stock markets will be close in respect to former Pres. Jimmy Carter's funeral. That will...
Trade ideas thread – Thursday, 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,...
Economic calendar in Asia 9 January 2025 – December inflation data from China, CPI and PPI
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,...
US consumer credit falls $-7.49 billion versus $10.5 billion estimate
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,...
As tech giants chase AI trillions, no one is even asking about the broader macro impacts
At the moment, the market is pricing in all the upside impacts of AI and robotics and trying to suss out the winners. The next conversation will be the losers.Nvidia is the most-valuable company in the worldElon Musk said: “Robotic taxis makes Tesla about a $5...
FOMC Minutes: Participants saw gradual move to more-neutral stance if data as expected
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,...
What’s priced in ahead of the FOMC Minutes
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,...