Geopolitical risk has built and built, gold getting a tail wind.Its jumped in Asia trade:The gold bugs are going to argue that with the rising stress in the Middle East, it'll be oil prices that are 'higher for longer' and the weight on economies will tip over into...
Bank of Japan to conduct an unscheduled bond buying operation
BOJ offers to buy Y 100 bin JGBs (Residual maturity of 10YR to 25YR) outright from 10/19 BOJ offers to buy 300 bin yen JGBs (Residual maturity of 5YR to 10YR) outright from 10/19 BOJ offers to buy JGBs at fixed-rate with unlimited amount (Residual maturity of 5YR to...
PBOC sets USD/ CNY mid-point today at 7.1795 (vs. estimate at 7.3079)
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...
IMF slash their China growth forecasts for 2023 (5% from 5.2%) and 2024 (4.2% from 4.5%)
The International Monetary Fund (IMF) downgraded its 2023 and 2024 growth forecasts for China, saying its recovery was "losing steam" and citing weakness in its property sector. expected China's economy to by 5% this year, down from its previous forecast in April of...
US nuclear-capable B-52 bomber lands in South Korea for the first time
U.S. B-52 strategic bombers have previously conducted joint air drills over the Korean Peninsula in partnership with the South Korean Air Force but this is the first time one has landed in South Korea.The US is sending a message to North Korea of its support for key...
PBOC is expected to set the USD/CNY reference rate at 7.3079 – 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...
New Zealand will begin publishing additional monthly price indexes
New Zealand is the only OECD nation still relying on quarterly inflation data.Statistics New Zealand have announced that they'll begin publishing additional monthly price indexes to assist the central bank and economists to more accurately forecast quarterly headline...
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Biden to ask tough questions in Israel, meet families of victims, hostages of Hamas attack
US National Security Council spokesman John Kirby: Biden will meet with families in Israel of victims and hostages of Hamas attackBiden will be asking the Israelis some tough questionsBiden will make clear he doesn't want the conflict to expandBiden will address the...
X (Twitter) will begin charging new users $1 a year to access key features
Fortune with the report:X, formerly known as Twitter, will begin charging new users $1 a year to access key features including the ability to tweet and retweetOwner Musk floated the idea “It’s the only way I can think of to combat vast armies of bots.”MoneyMaker FX EA...
Australia data: Westpac Sep. Leading Index “improves but still pointing to sub-par growth”
Comments (in brief) from the WPAC report on its September 2023 Leading Index. The six-month annualised growth rate in the Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the...
China’s sustained, sophisticated, scaled theft of intellectual property is the worst ever
Five Eyes intelligence partners are holding a public summit in California.Five eyes are the intelligence organisations of the US, United Kingdom, Canada, Australia and New Zealand.Australian Security Intelligence Organisation director-general Mike Burgess:"We...
More from RBA Gov Bullock – if inflation remains higher than expected will respond
More from Reserve Bank of Australia Governor Bullock: If inflation remains higher than expected, will have to respond with policyWe think we are running narrow path, but very alert to upside inflation risksI am not sure that Bullock is more hawkish than previous...
RBA Gov Bullock says is a bit more worried about the inflation impact from supply shocks
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 Congress has heightened security posture, increased police presence
An ominous update from the US Congress:a heightened security posture and an increased police presence will be in place on Wednesday, October 18, 2023The Hamas explosive that killed 500 people in a Gaza hospital is being used by the terrorists to spread lies and...
ICYMI – ECB’s Holzmann says may require additional ECB rate hikes
Robert Holzmann is Governor of Austria's central bank and a European Central Bank Governing Council member: We are not out of the woods yet on inflation Further shocks may require additional ECB rate hikes. Payments on bank reserves are a huge problemECB's...
Who is buying US stocks? BoA says “wide participation”, institutional, retail, hedge funds
Analysts at Bank of America say that equity buying came from every segment of investors they track:wide participation from investorssingle stocks and equity ETFs had net inflows all clients were net buyersInstitutional clients, Retail (net buyers for 4 consecutive...
Coinbase shares to surge – the Bitcoin ETF false news was a dress rehearsal for real thing
Analysts at Barclays say the market response to the false news from Monday on the BTC ETF approval is guidance on what is to come once real approval has been granted:we continue to see limited P&L benefit to Coinbase(but) we view this (the response to the false...
Jordan has cancelled the summit meeting in Amman with Biden, Egypt and Palestinian leaders
In response to the brutal Hamas attack on a hospital in Gaza.hundreds of Palestinians were killedJordan has cancelled the summit meeting that was scheduled between US President Biden, Palestinian President Mahmoud Abbas and Egyptian President Abdel Fattah al-Sisi in...
US Congressman Jordan says the House will vote for speaker at 11am Wednesday, 18 October
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,...