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 president Biden arrives in Israel
The hope here is that his visit will deter other regional actors from stepping in and to ease the ongoing tensions. But amid the heavy scrutiny, it could end up backfiring. That especially after the Israel bombing of the hospital in Gaza that killed at least 500...
USDJPY Technical Analysis – Fears of an intervention keep the pair in a range
US:The Fed left interest rates unchanged as expected at the last meeting.The macroeconomic projections were revised higher, and the Dot Plot showed that the FOMC still expects another rate hike by the end of the year with less rate cuts projected in 2024.Fed Chair...
Nomura revises China 2023 GDP growth forecast slightly higher
Nomura is the latest to revise higher its forecast of the Chinese economy, expecting 2023 GDP growth to come in at 5.1% compared to 4.8% previously. They are not the first to do so in recent weeks with JP Morgan and ANZ also having done so already.The latest data from...
Japan tourism recovers to near pre-Covid levels
The number of visitors to Japan rose to 2.18 million in September, highlighting a near full recovery to pre-Covid levels at this point. Relative to 2019, the visitor numbers last month are now roughly 96% of that. Well, a weaker yen is definitely a factor as well I...
UK finance minister Hunt: Inflation rarely falls in a straight line
If we stick to our plan, then we still expect inflation to keep falling this yearThere's always some way to spin it to how they want now, isn't there? Only time will tell if price pressures are going to prove to be more stubborn than anticipated, which it likely will....
FX option expiries for 18 October 10am New York cut
There are a couple to take note of for EUR/USD on the day, as highlighted in bold.The main one being at 1.0500 which keeps with the expiries we have seen in the days before as well, adding to a defensive layer for the pair in case price action does trend downwards....
BOC to maintain overnight rate at 5% next week, says Goldman Sachs and JP Morgan
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 September CPI +6.7% vs +6.6% y/y expected
Prior +6.7%Core CPI +6.1% vs +6.0% y/y expectedPrior +6.2%On the month itself, consumer prices are seen up by 0.5% and that matches up with estimates. The annual readings are showing that price pressures might be more stubborn than anticipated even if the core...
USDCHF Technical Analysis – “Make it or break it” moment for the pair
US:The Fed left interest rates unchanged as expected at the last meeting.The macroeconomic projections were revised higher, and the Dot Plot showed that the FOMC still expects another rate hike by the end of the year with less rate cuts projected in 2024.Fed Chair...
Inflation on the menu in European trading today
Major currencies are mostly lightly changed as we look towards European trading as it is only commodities that are being heavily impacted by the violence in the Middle East. The Israel-Hamas conflict rages on and that is continuing to keep a bid in gold and oil this...
Xi-Putin meeting: Close political coordination is necessary in current difficult times
"Dear friend, I'm glad to meet you again" (Putin)Political trust between China and Russia is continuously deepening (Xi)Both countries have maintained close, effective strategic coordination (Xi)The US certainly won't be too happy about this ongoing alliance but...
Gold ratchets higher, seeks break of key technical levels
Gold (XAU/USD) daily chartThe ongoing violence in the Israel-Hamas conflict is still making for some uneasy tones in markets, in particular for commodities as the uncertainty lingers on. The latest is an Israeli strike on the Al-Ahli Baptist Hospital in Gaza, which...
Xi and Putin have begun their meeting in Beijing
Putin had previously not left Russia for many months as there is a warrant out for his arrest for war crimes. Chinese Communist Party Chairman Xi has welcomed him to China though, not being bothered by this. Talks will centre on how China can support Russia's invasion...
ForexLive Asia-Pacific FX news wrap: Oil, gold, AUD, NZD all higher in Asia trade
China - A Country Garden offshore bondholder says has not received interest paymentA packed agenda of six Federal Reserve speakers coming up Wednesday, along with Beige BookChina's Xi says will remove foreign investment access restrictions in manufacturing sectorAUD...
China – A Country Garden offshore bondholder says has not received interest payment
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,...
A packed agenda of six Federal Reserve speakers coming up Wednesday, along with Beige Book
A barrage of Fed speakers coming up on Wednesday. The times listed below are in GMT / US Eastern time format:1600 /1200 Federal Reserve Board Governor Christopher Waller participates in a discussion on the economic outlook before the Distinguished Speaker Seminar...
China’s Xi says will remove foreign investment access restrictions in manufacturing sector
Chinese Communist Party Xi speaking at the Belt and Road forum: belt and road cooperation has progressed from sketching the outline into filling in the details, blueprints turned into real projectsThis network has boosted the flow of goods, capital, technology and...
Oil price rocketing higher
Oil had a strong session on Tuesday and that's continuing here today in Asia. Surging violence in the Middle East has raised, and keeps on raising, the prospect of negative repercussions for energy exports.We have had better data from China also that also indicates an...
AUD and NZD jump after the better than expected data from China
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,...