Harker is the only Fed speaker I see ahead on the schedule. He tends to be one of the more restrained in his comments. I am curious to see how these officials great to core inflation being closer to 4% than 3%, and double the 2% Fed target rate. 1300 GMT / 0900 US...
Bank of England Governor Andrew Bailey is speaking on Friday
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 September USD dollar denominated Exports -6.2% y/y, Imports -6.2%
China trade balance data for September 2023Trade Balance in USD terms 77.7bnexpected 70.0bn, prior 68.4bnin yuan terms a surplus of 558.7bnImports -6.2% y/yexpected -6.0%, prior -7.3%in yuan terms -0.8% y/yExports -6.2% expected -7.6%, prior -8.8%in yuan terms -0.6%...
US bonds – “We are not done testing a 5% yield on the 10-year note or 30-year bond”
Media reports (MarketWatch / Dow Jones) with comments from Marc Chandler, chief market strategist at Bannockburn Global Forex.Chandler discussing the path to 5%.(I posted on the 5% question earlier ICYMI:TD on "worries about a lack of demand for Treasuries", could see...
Bank of Canada Governor Tiff Macklem is speaking Friday
At 1415 GMT, 1015 US Eastern time: Bank of Canada Governor Tiff Macklem will speak to reporters from the sidelines of the IMF meeting in Marrakech, Morocco.There is a big shakeout in the Canadian mortgage and housing markets happening right now - there are headaches...
Australian financial media says One in five borrowers is ‘screwed’
Australian Financial Review with the headline, One in five borrowers is ‘screwed’ (gated).Some of the 'highlights' of the report, low lights really, things are not looking promising: The Reserve Bank of Australia likes to spin that “most” borrowers are fine, but...
Federal Reserve Chair Powell and PBOC governor Pan Gongsheng met on October 12
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 January – September yuan denominated exports +0.6% y/y, imports -1.2% y/y
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,...
New Zealand election on Saturday – change of government expected – NZD impact low
The election in New Zealand is on Saturday. The incumbent Labour Party is seeking a third term but is expected to lose to the centre-right National Party/coalition partners. National looks likely to win the largest proportion of votes in the election, but polls...
China September CPI +0.2% m/m (vs. expected +0.3%)
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 to close ‘loophole’ that gives Chinese companies back door access to US AI chips
Reuters with the report, citing four people familiar with the matter The Biden administration is considering closing a loophole that gives Chinese companies access to American artificial intelligence (AI) chips through units located overseasrules are set to be...
PBOC sets USD/ CNY reference rate for today at 7.1775 (vs. estimate at 7.3179)
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...
China’s US$1.35 trillion sovereign fund boosts stake in Big Four banks (CNY intervention?)
The South China Morning Post (may be gated) reported on China’s US$1.35 trillion sovereign wealth fund increasing its equity stakes in the nation’s four biggest banks:stoking speculation authorities are trying to shore up confidence in the market after an exodus of...
PBOC is expected to set the USD/CNY reference rate at 7.3179 – Reuters estimate
People's Bank of China USD/CNY reference rate is due around 0115 GMT.The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate...
Monetary Authority of Singapore maintains prevailing rate of appreciation of policy band
Monetary Authority of Singapore, Singapore's central bank, leaves policy settings unchanged, as expected.will maintain the prevailing rate of appreciation of the S$NEER policy band will be no change to its width and the level at which it is centredThe MAS says it'll...
US politics – Scalise withdrawing from the Speaker race. Failed to get enough support
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,...
USD/JPY back nudging towards 150 – Japanese (verbal) intervention has started already
The USD jumped higher in Thursday trade following the inflation data. ICYMI:US September CPI +3.7% y/y versus +3.6% y/y expectedAnd:USD/JPY is back on approach to 150:It seems likely there will verbal intervention comments from Japan during the session here today. And...
JP Morgan analyst shrugs off the US CPI data: really not much going on
JPMorgan Asset Management Chief Global Strategist David Kelly was interviewed (Bloomberg TV) after the US CPI report.The data is here ICYMI:US September CPI +3.7% y/y versus +3.6% y/y expectedAnd:JPMAM analyst Kelly:the CPI, I think it was close to ... exactly on...
SGD traders heads up – Monetary Authority of Singapore policy statement due today
The Monetary Authority of Singapore (MAS) is the country's central bank. It has two scheduled policy meetings a year, in April and October.Today's statement is expected to have no change to policy. In April the MAS left settings unchanged.---Note that the MAS's key...
TD on “worries about a lack of demand for Treasuries”, could see a run to 5%
If you haven't seen this, please check it out, its essential, and troubling, reading:A note from TD also looks at the UST market, noting that dynamics there could soon see a run to 5%. Ugh. This week's 3s, 10s, and 30s Treasury auction series was met with weaker...