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,...
RBNZ’s own inflation measure for Q3 2023 is +5.2% y/y (vs. prior +5.7%)
The sectoral factor model is the Reserve Bank of New Zealand's own preferred inflation measure, it dropped back significantly in the September quarter:The Bank on its own model: We created the sectoral factor model. It estimates the common component of inflation in...
Russian President Vladimir Putin arrived in Beijing on Tuesday to meet CCP boss Xi Jinping
Russian President Vladimir Putin arrived in Beijing on Tuesday.He'll be attending the third Belt and Road Forum.Putin will also meet with Chinese Communist Party Chairman Xi Jinping. Putin and Xi have a mutual man-crush, mutual trust, and a "no-limits"...
PBOC sets USD/ CNY central rate at 7.1796 (vs. estimate at 7.3038)
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...
“Wall Street icon” Howard Marks recommends selling equities buying high yield bonds (BUT!)
Howard Marks is a legend, sure. And media outlets are gushing over his latest memo titled:Further Thoughts on Sea ChangeMarks wrote his original "Sea Change" memo in December 2022 saying that, in a nutshell:the changes I described in Sea Change aren’t just usual...
AUD/USD higher after surprisingly hawkish RBA minutes
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 minutes show the Bank debated a 25bp rate hike vs. holding steady
Reserve Bank of Australia minutes from the October 2023 meeting.Headlines via Reuters: At October meeting board considered raising rates by 25bp or holding steadyBoard members judged that case for holding steady was the stronger oneMembers noted data on inflation,...
US President Biden will travel to Israel on Wednesday
Biden will visit Israel then meet:Palestinian Pres. Abbas, Egypt Pres. Sisi Jordan King in Ammanall in 1 day!John Kirby says that in Amman it’s really going to be focused on the humanitarian situation, and reiterating the belief that Hamas does not represent vast...
PBOC is expected to set the USD/CNY reference rate at 7.3038 – 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...
ANZ New Zealand expect RBNZ rate hike in February 2024, previously expected November 2023
ANZ analysts say the weaker-than-expected inflation buys the RBNZ some time.The data ICYMI:ANZ, in brief:We now expect the RBNZ to hike the OCR 25bp in February, rather than November. Annual CPI inflation decelerated from 6.0% in Q2 to 5.6% y/y in Q3, weaker than our...
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Country Garden’s entire offshore debt to be in default if Tuesday payment not made
Reuters with the report saying that Country Garden's entire offshore debt to be in default if payment is not made on a $15 million coupon payment on Tuesday, the end of a 30-day grace period.Non-payment of this tranche is set to trigger cross defaults in other bonds...
Israel President Netanyahu and US Sec State Blinken have been in talks for 7 hours
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 Retail Sales data for September is the important data point Tuesday – what to expect
Preview comments via Scotia:expected rise in US retail sales during SeptemberWe know that vehicle sales volumes were up by over 4% m/m SA and that gasoline prices in CPI were up by 1.7% m/m SA. Combined, these two factors could lift retail sales by 0.7% in weighted...
Canada September CPI data due Tuesday, 17 October 2023 – preview
Data for Canadian inflation, September 2023, is due later on Tuesday, at 0830 Eastern time: 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'...
Australian data – ANZ-Roy Morgan consumer confidence index 76.4 (prior 80.1)
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,...
Cointelegraph apologizes again for posting “unverified” Bitcoin ETF approval news
ICYMI (probably a good thing!):Fake report? Bitcoin gives it all backCointelegraph have apologized. Earlier today, during routine coverage, Cointelegraph’s social media team posted a message on X without prior editorial approval stating that the United States...
New Zealand Q3 CPI +1.8% q/q (+2% expected)
more to comeNew Zealand CPI Q3 2023:+5.6% y/yexpected 5.9%, prior 6.0%+1.8% q/qexpected +2.0%, prior +1.1%NZD/USD marked down a few points on the data:NZD/USD traded up to that 0.5925 ish level after the weekend election and hasn;t managed to move much higher....
UBS bullish everything! See positive returns across cash, bonds and equities to mid-2024.
UBS chief investment officer Mark Haefele spoke with CNBC on Monday: “we see positive returns across cash, bonds and equities. When we look out towards the middle of next year, we can see the S&P 500 probably [at] about 4500 and we can see the 10-year at about...
Forexlive Americas FX news wrap 16 Oct:Yields higher as tensions not so high in Israel
On Friday markets were worried about the geopolitical risk in Israel. Gold surgedYields move lower on flight to safetyOil surgedStocks moved lower. USD moved higherAlthough tensions remain elevated in Israel, and bombings continue, there was not the ground and/or air...