People's Bank of China USD/CNY reference rate.The closing rate was 7.2935The 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...
Reports that an airstrike hit an Iranian weapons convoy crossing from Iraq into Syria
News headline crossing, it seems legit. An airstrike hit an Iranian weapons convoy crossing from Iraq into Syriaat al-Qaim/Bukamal.The item adds that the strike is "presumed to be by Israel". -Whether the report is true or not I can't ascertain just yet. And whether...
Financial Times reports that “Saudi Arabia stands by Palestinians, crown prince says”
The FT is reporting comments from Saudi Arabian Crown Prince saying that the kingdom stands by Palestinians:His remarks are not breaking news, they've been reported elsewhere, the Saudi Press Agency (SPA) reported on Monday:Saudi Arabia’s Crown Prince Mohammed bin...
World Bank chief economist says rising Asia debt levels could hold back growth
World Bank Chief Economist Indermit Gill spoke with Reuters in an interview on MondayRising debt levels among "seemingly healthy" countries in Asia could drag growth in the region below currently forecast levelssaid surprisingly high debt levels in Asia were a...
Australian September business confidence unchanged at +1
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 is expected to set the USD/CNY reference rate at 7.2758 – Reuters estimate
People's Bank of China USD/CNY reference rate is due around 0115 GMT.I mentioned above the 'CCF', this is the People's Bank of China's "counter-cyclical factor"The PBOC introduced the "counter-cyclical factor" as a tool within its exchange rate mechanism in 2017. This...
Japan data: Current account balance comes in well under consensus
Data from Japan's Ministry of Finance.The current account represents the most comprehensive gauge of a nation's international financial interactions. It encapsulates not just the exchange of goods and services, but also earnings from foreign investments and payments...
US Treasury yield at 4.64% in Asia trade, significantly lower than late Friday levels
Japanese markets have reopened after the holiday Monday. It was also a holiday Monday for the Bond market in the US.Thus we are getting first indications to the cash Treasury benchmark 10 year yield for the week, trading circa 4.64% in early Tokyo and down from around...
Australian October Consumer Confidence +2.9% m/m to 82.0
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,...
Morgan Stanley says the near-term risk to oil supply is limited
Morgan Stanley assessed the impact on oil markets from the brutal Hamas attack on Israel.said that as neither Israel nor its direct neighbours are large oil producers the near-term risk to oil supply is limitedMS did add though something to watch out for: "However,...
UK data: BRC Like-for-like sales +2.8%, Barclays Consumer spending +4.2%
Some perhaps encouraging headline data out of the UK, but the details are not so hot. Info via Reuters. British Retail Consortium data:total sales at chain stores +2.7% y/y in September, from +4.1% in Augustlike-for-like sales measure - which adjusts for changes in...
Goldman Sachs says unlikely to be any impact on main fundamental drivers of oil price
A Goldman Sachs note with their immediate assessment of the oil price impact of the terrorist attacks on Israel.GS begin with the caveat:Recognizing the elevated uncertainty and incomplete information at this early stageWhich seems a fair enough point. And then go...
Australian Weekly ANZ Roy Morgan Consumer Confidence survey 80.1 (prior 78.2)
ANZ comment:The ANZ-Roy Morgan Australian Consumer Confidence reached its highest since the end of February, but is still weak. Confidence about personal finances has been key to the uptrend.Consumer inflation expectations were down 0.1% to 5.1% in the past week....
White House – not seen hard tangible evidence Iran directly involved in attacks on Israel
John Kirby is Coordinator for Strategic Communications at the National Security Council in the White House. Speaking with media: There is no intention to put US boots on ground after Israel attackExpect additional security requests from Israel, US will try to fulfill...
China – Maike Metals founder, He Jinbi (“Chinese Copper Tycoon”) taken away by police
ICYMI, news overnight of another executive apprehended by the Chinese police state.He Jinbi founded and built Maike Metals. Maike Metals was China's biggest importer of refined copper before a liquidity crisis almost sank the firm last year.Colleagues have been...
US is “surging” supplies of air defenses, munitions, other security assistance to Israel
A senior U.S. defense official has confirmed that the US military is "surging" fresh supplies of air defenses, munitions and other security assistance to Israel. The spoke on condition of anonymity to Pentagon reportersThis, of course, is in response to the massive...
Joint statement from US, UK, France, Italy & Germany: Will support Israel defending itself
Joint statement from US, UK, France, Italy & Germany:Our countries will support Israel in its efforts to defend itselfOver coming days, we will remain united and coordinated to ensure Israel is able to defend itselfItaly, UK, US, France, Germany offers...
Goldman Sachs looking for higher USD/JPY – no change to BOJ negative rates until 2025
This summary of a Goldman Sachs piece is via the folks at eFX. For bank trade ideas, check out eFX Plus. USD/JPY's Projected Path: While Goldman Sachs anticipates an upward trend in the USD/JPY exchange rate, the journey might not be a smooth one, facing various...
Forexlive Americas FX news wrap 9 Oct: USD moves lower as mkts react to geopolitical risk
In the US today, it was a quasi-holiday as the US debt market was closed in observance of the Columbus Day holiday. As a result, there were no government issued releases today. The US stock market was open, however. Also, bond futures markets were open and they rose...
ICYMI: Yellen says the US “very likely” to move to enforce $60/barrel limit on Russian oil
US Treasury Secretary Yellen spoke in an interview with the Wall Street Journal (gated). “We are looking at enforcement very carefully and we want to make sure that market participants are aware we take this price cap seriously, and, to the extent Western services are...