BlackRock Investment Institute with the cautionary heads up:“About half of expected earnings growth is tied to mega caps ... according to LSEG data, where the artificial intelligence (AI) mega force is well represented. Backing those out ... expectations for broad...
Not FX – McDonald’s is giving away free fries every Friday for the rest of the 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,...
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PBOC is expected to set the USD/CNY reference rate at 7.2992 – 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...
Fake reports incoming of an attack on US Navy ship Carney – no attack happened
A heads up in case you begin to see reports of an attack on USS Carney. The reports are fake news, distributed by Iranian propaganda channels.--USS Carney is the 14th Arleigh Burke-class destroyer in the United States Navy.Last week it shot down multiple missiles and...
South Korea looking to Africa to secure graphite as China tightens export controls
China is restricting exports of graphite:South Korean firms are instead chasing down leads in African countries to secure graphite, a key material used in electric-vehicle batteries.Chinawill place graphite deemed highly sensitive under “dual-use item” export controls...
The good news / bad news preview of Australia CPI data due Wednesday
Australian Q3 CPI preview data is due on Wednesday, 25 October 2023at 11.30 am Sydney time, whoch is 0030 GMT and 2030 US Eastern timeVia ING on what to expect:The good news is that we think there is a chance that the headline inflation rate could manage not to rise...
Australian data – ANZ-Roy Morgan consumer confidence index 78.2 (prior 76.4)
Australian Weekly ANZ Roy Morgan Consumer Confidence survey remains very weak. Eyes are on the CPI data due tomorrow from Australia:In the weekly survey there is a question on consumers expect for inflation ahead:in this week's survey inflation expectations jumped by...
White House national security spokesman Kirby says not the time for Israel-Hamas ceasefire
This is not the time for a ceasefire in the conflict between Israel and Hamas terrorists according to White House national security spokesman John Kirby.Kirby was speaking with CNN. Israel have offered a ceasefire if the terrorists release hostages and surrender....
Bitcoin higher again, above US$32K
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 traders heads up – Reserve Bank of Australia Governor Bullock speaks later on Tuesday
On Tuesday, 24 October 2023 at 7 pm Sydney time, which is 0800 GMT and 0400 US Eastern time Reserve Bank of Australia Governor Bullock is speaking.The topic is:Monetary Policy in Australia: Complementarities and Trade-offsat the Commonwealth Bank of Australia Global...
Australia preliminary PMI: Manufacturing 48.0 (prior 48.7) & Services 47.6 (prior 51.8)
Preliminary S&P Global / Judo Bank flash PMIs from Australia for October 2023.Wow, an ugly set of numbers. Services have plunged back into contraction. Commentary from the report. in summaryNew orders weakened in October and are below the 50 neutral level,...
AUD traders – NAB says CPI data to be higher than RBA expects, forecast November rate hike
National Australia Bank is forecasting a November Reserve Bank of Australia interest rate hike of 25bp, which will take the cash rate to 4.35%.NAB on the Q3 CPI data that's due on Wednesday, 25 October 2023 at 11.30 am Sydney time, whoch is 0030 GMT and 2030 US...
ICYMI – China’s sovereign wealth fund bought ETFs to prop up puking stock market
China’s state fund Central Huijin Investment said late on Monday it had bought exchange-traded funds (ETFs)and it would continue to do soJust under two weeks ago the fund started increasing its controlling stakes in China’s “Big Four” state banksThe buying came as...
Reports that attacks continuing on US base in Syria
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 set to approve circa US$137billion in additional sovereign debt issuance on Tuesday
ICYMI from earlier, Reuters report citing three unnamed sources.China is set to approve slightly more than 1 trillion yuan in additional sovereign debt issuance on Tuesday.The Chinese Communist Party is ramping up efforts to boost infrastructure spending and encourage...
There is some talk that US bases in Syria and nearby have been hit (update: fake news)
There are reports of some big explosions and/or drone attacks at US bases in the Middle East in Iraq and Syria. One of the spots said to be hit is the Al-Tanf base in Syria near the Iraq border.Be careful with these headlines and rumors but they're out there right...
Media reports that Putin had a heart attack
Sky carries the report, a;lthough there has been chatter about on this. Putin had a heart attackon Sundayhe has regained consciousnessSky cited social media accounts. A few hours ago similar reports did the rounds. Interestingly US President Biden scurried off from a...
Economic calendar in Asia 24 October 2023
Not a lot here to move forex rates upon release. This snapshot from the ForexLive economic data calendar, access it here.The times in the left-most column are GMT.The numbers in the right-most column are the 'prior' (previous month/quarter as the case may be) result....
S&P closes below 200 day MA for the 2nd day in a row
The Dow industrial average and S&P index could not hold onto gains and are closing the day lower. The S&P index is closing below its 200 day moving average for the 2nd consecutive day. The 200-day moving average comes in at 4235.17. The index is closing at...