More again from Reserve Bank of Australia Governor Bullock, adding that there will be changes made to the RBA's inflation forecasts but she isn't sure if they will be 'material'.Bullock started the job on September 16 and has already become Humphrey Appleby. Sheesh....
RBA Gov. Bullock says still considering whether CPI was a “material” change to outlook
Reserve Bank of Australia Governor Bullock is appearing in parliament, before the Senate Economics Legislation Committee.She says the Bank is still thinking about if yesterday's inflation data showed a "material" increase.The RBA must be the only people in Australia...
AUD/USD lower as RBA Gov. Bullock speaks
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,...
RBA Bullock says CPI was a little higher than expected, but about where we thought it’d be
Reserve Bank of Australia Governor Bullock The CPI was a little higher than we expectedBut CPI was about where we thought it would comeGoods prices coming down, but services inflation remains persistentServices inflation is higher than what we are comfortable withWill...
UBS forecasts a November RBA interest rate hike, and likely more to come after that
UBS response to Wednesday's upside surprise in Australian inflation data, its Australian economist forecasts a 25bp Reserve Bank of Australia cash rate hike at its November 7 meeting:“RBA Governor Bullock’s speech last night effectively specified they ‘will not...
Bank of Canada interest rate pause continued, with a “clear hiking bias”
The Bank of Canada left its overnight rate unchanged at 5%, although other events overtook the news on it:Via, RBC, their 'Bottom Line" response, in brief:CPI readings still running well above the 2% target, the BoC is firmly focused on getting inflation under...
RBNZ says it expects defaults to increase in agricultural lending portfolios
Reserve Bank of New Zealand statement: Agricultural sector facing difficult economic conditions due to low prices, high operating expenses and increased debt servicing costsDefaults in banks’ agricultural lending portfolios are currently low, they are expected to...
Forexlive Americas FX news wrap 25 Oct: Stocks and bonds move lower. USD higher on the day
The various US markets took it on the chin today with the broader stock indices closing sharply lower on the day (led by the Nasdaq index with its 2nd worst trading day of the year).The NASDAQ index fell -2.43%. That was a worse day since February 21 when the index...
Alarms, and phones, going off in BoJ bedrooms with USD/JPY above 150
USD/JPY has cracked above 150.Japanese Ministry of Finance officials will be getting early morning phone calls, as will Bank of Japan officials. Japan has been engaged with the battle to keep the yen from weakening to sharply. They've been fighting fundamentals, the...
Powell does not comment on monetary policy or economic outlook in prepared remarks
Federal Reserve Chair Jerome Powell brief introductory remarks before the 2023 Moynihan Lecture in Social Science and Public Policy event.As the headline says, nothing from him on policy nor his outlook for the economy. It's the middle of blackout so this is not...
META schmeta …. check out USD/JPY!
USD/JPY is inching higher after it (finally) took out 150.Earlier this week, in the VERY early hours of Monday the top hit was 150.14 before it dropped back. The trade taking place at that time was basically robot-to-robot. It won't be disp;laid on most available...
META Q3 2023 EPS USD 4.39 (beats estimate of 3.65)
> META Q3 2023 EPS USD 4.39 (beats estimate of 3.65) <!--> --> <!--> --> Meta earnings:Revenue $34.15b, est. $33.51bnEPS $4.39, est. $3.60 Ad revenue $33.64b, est. $32.94bnFacebook monthly active users 3.05bn, est. 3.058nFacebook daily active...
Economic calendar in Asia Thursday, 26 October 2023 – RBA Governor Bullock speaking
Reserve Bank of Australia Governor Bullock will be appearing in parliament, before the Senate Economics Legislation Committee.I'm listening out for hawkish comments after yesterday's upside surprise for inflation:Despite the Fed blackout period, Federal Reserve Chair...
Trade ideas thread – Thursday, 26 October 2023
Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so: USD/JPY looking more determined above 150 this time, be on the lookout...
NASDAQ index has its worse trading days since February 21
The NASDAQ index got hit hard with the major index falling the most since February 21.The index fell -2.43%. That represents the 2nd worst trading day of the calendar year. On February 21 the index fell -2.50%.Although Microsoft rose near 3% on the day after its...
USD/JPY rises above 150.00
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,...
CIBC sees the Bank of Canada cutting rates by 150 basis points next year
The Bank of Canada left rates unchanged today at 5.00% but maintained a hawkish bias. CIBC thinks current rates will be enough to restrain inflation as mortgage resets work their way through the economy."We'll stick to our view that the Bank of Canada has already...
USDCHF pushes against 200 hour MA
The USDCHF is higher in the day,, near its high for the day and pushing against its 200-hour moving average (green line on the chart above). That moving average comes in at 0.8965. The current price is trading at 0.8962. The last 4 hourly bars have been banging...
Australian dollar isn’t getting much help from inflation or China stimulus. Ugly day.
If I were to tell you that Australia would have a hot inflation report and China would announced a jump in deficit borrowing, you would be excused for rushing to buy the Australian dollar.AUDUSD daily chartThat looked to be a good trade yesterday and initially on the...
Video: Is there anywhere to hide?
I spoke with Dale Pinkert from TradeGateHub today about four spots that provide some level of cover in a market where almost everything is vulnerable.Other things we talked about:The risks in the Middle East and why I'm watching Iran so closelyThe end of the era of...