A Wall Street Journal (gated) piece has a couple of snippets that pour cold water on the large-scale boost expected for China's economy from new growth drivers such as electric vehicles, batteries and renewable-energy. The property sector debt implosion is just too...
JP Morgan says there is plenty more downside for Bitcoin – more ‘sell the fact’ to come
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 reference rate for today at 7.1167 (vs. estimate at 7.1972)
The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.CNH is the offshore yuan. USD /CNH has no restrictions on its trading...
Third Houthi terrorist attack on commercial shipping vessel in three days
Info comes via US CentCom just coming in:On January 18 at approximately 9 p.m. (Sanaa time), Iranian-backed Houthi terrorists launched two anti-ship ballistic missiles at M/V Chem Ranger, a Marshall Island-flagged, U.S.-Owned, Greek-operated tanker ship. The crew...
China’s state banks sold USD for yuan, trying to prop up CNY
China's currency has been on a fresh downward spiral since the beginning of the new year.Earlier this week state banks were in the market selling USD/CNY ahead of 7.20 trying to support the currency. On Tuesday the offshore yuan (CNH) hit a 2 month low. The People's...
PBOC is expected to set the USD/CNY reference rate at 7.1972 – 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...
Japan’s 3 December inflation measures all fell vs. November, but all are still above 2%
These reflect a similar outcome in the Tokyo are data for December:The Bank of Japan next meet on January 22 and 23 (Monday and Tuesday next week) and are expected to leave their major policy planks (YCC and negative short-term rates) unchanged.Inflation has been well...
Gravity of $2000 Amidst Interest Rate Dynamics and Geopolitical Tensions
Gold came under pressure, owing to the US dollar’s strengthening and sustained Treasury Yields, which led to losses down to a one-month low of $2,001.72 per ounce. The recent surge in the value of the dollar, triggered by hawkish statements from the Federal...
NY Fed report on rising early delinquencies in auto and credit card debt
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,...
China shares: fears mounting of another crackdown slump – “We’ve seen this picture before”
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,...
JP Morgan forecasts Bank of England to cut rates in August 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,...
RBC’s bull case forecast for 2024 year end S&P 500 is 5300
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 data – December manufacturing PMI plunges to 43.1, from 46.5
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,...
Swiss National Bank President Jordan spoke at Davos, emphasized the role of central banks
SNB President Jordan spoke overnight, with no remarks on his economic outlook nor on monetary policy.He did comment on the Swissy the day before (in and interview with Bloomberg TV) when he said that the rise of the CHF has become significant enough in recent weeks to...
Forexlive Americas FX news wrap: Jobless claims offer ammunition for the hawks
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,...
Broader US indices snap 2-day slide. NASDAQ leads the way.
The major US stock indices are closing near highs for the day. Wall Street Journal's Timiraos tweeted that the core PCE was likely to be tame when released on January 26th with the 12-month, 6 month and 3-month trends moving lower (see post here). The Dow industrial...
Economic calendar in Asia, Friday 19 January 2024 – Japan inflation 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,...
Trade ideas thread – Friday, 19 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,...
ETF buyers caught holding the bag as bitcoin nears $40,000
Bitcoin is down $2000 today or 4.5% as the selling after the ETF debuts continues. Bitcoin rose as high as $49051 in the hour after the 11 US bitcoin ETFs were launched but a 'sell the fact' trade quickly emerged and it's been downhill ever since.Today bitcoin held at...
Crude oil settles at $74.08
The price of crude futures settled the day at $74.08. That's up $1.52 or 2.09%. The high price reached $74.19. The low price was at $72.10. The current price traded $73.89.US inventory data was mixed, but there were increased geopolitical risks from activity in the...