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,...
Chinese yuan (USD/CNH) is back to little changed after as expected LPR decision
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,...
PBoC Loan Prime Rates (LPR) are unchanged @ 1 year 3.45% & 5 year 4.20%. As expected
The People's Bank of China set its Loan Prime Rate (LPR) for the one- and five-years unchanged.LPR rates are:3.45% for the one year4.20% for the five yearThe LPR plays a vital role in determining interest rates for loans and mortgages in China.Last week, on the 15th,...
PBOC sets USD/ CNY reference rate for today at 7.1105 (vs. estimate at 7.1870)
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...
USD a touch weaker in Asia moring trade, AUD & NZD lead
The US dollar is a little wealker in Asia morning trade.AUD, NZD, GBP, EUR are all up slightly, up towards Friday's lows.Apart from what has been posted there is no fresh news. Still, not a large move nor a large range.'Risk' is up more breadly, both the ES and NQ (US...
Houthi attacks in Red Sea causing greater supply chain damage than early pandemic
Shipping data analyst firm Sea-Intelligence says that disruptions to shipping from the Houthi attacks in the Red Sea are already more damaging to the supply chain than the early COVID-19 pandemic.The firm cite their analysis of vessel delayssupply chain data known in...
PBOC is expected to set the USD/CNY reference rate at 7.1870 – 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...
Bank of Japan statement due Tuesday – no change expected, but the BOJ does like a surprise
The BOJ policy meeting is Monday and Tuesday, the 22nd and 23rd of January. The statement will be handed down on Tuesday. As usual, there is no firmly scheduled time. Expect it sometime in the 0230 to 0330 GMT time window.that's 2130 to 2230 US Eastern timeBank of...
ICYMI: META to spend big on Nvidia cards, will have 350K Nvidia H100 GPUs by end ’24
Posting this as a bit of catch-up ICYMI, Mark Zuckerberg said that by the end of 2024, the company’s computing infrastructure will include 350,000 H100 graphics cards. This points to Meta spending billions of dollars on Nvidia’s leading chips. These have been at...
Bridgewater Associates’ offerings in China in demand, while local funds face challenges
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,...
Weekend: Russian energy firm Novatek suspended some operations at Baltic export terminal
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,...
Russia passed Saudi Arabia as biggest supplier of crude oil to China in 2023
Data released from China on Saturday showed that Russia became China’s top crude oil supplier in 2023, exporting far more than other major oil exporters such as Saudi Arabia.China is the world’s biggest crude importer.Chinese customs published data showing Russia...
US & UK talks on intensifying targeting Houthis in Yemen. Risk is escalation with Iran.
The US and UK are discussing ways to escalate their attacks on Iran-backed Houthi terrorists operating out of Yemen.The allies want to step up their campaign without triggering a broader war (with Iran), such as:targeting Iranian resupplieslaunching more aggressive...
Economic calendar in Asia Monday, 22 January – People’s Bank of China rate decision day
It's a near-empty agenda for the session here in Asia to open the week. The People's Bank of China sets its Loan Prime Rate (LPR) for the one- and five-years.Due at 0115 GMT, which is 9.15 pm US Eastern time.The LPR plays a vital role in determining interest rates for...
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US 2024 Presidential Election will be Biden vs. Trump (Desantis drops out, Haley wildcard)
Florida Governor Ron DeSantis has admitted defeat and dropped out from the race to be the Republican candidate for President. He was facing a mammoth task to beat Trump for the nomination, but I am surprised he quit so soon. This still leaves Nikki Haley as a...
Trade ideas thread – Monday, 22 January, insightful charts, technical analysis, ideas
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,...
Monday morning open levels – indicative forex prices – 22 January 2024
Good morning, afternoon or evening to all ForexLive traders and welcome to the start of the new FX week.As is usual for a Monday morning, market liquidity is very thin until it improves as more Asian centres come online ... prices are liable to swing around, so take...
Markets Week Ahead: Gold Under Pressure, US Equities Rally, USD Holds Recent Highs
Global Market Outlook - W/C January 22ndMarkets to Watch Next Week as Central Bankers Have Their Say Recommended by Nick Cawley Get Your Free Equities Forecast Get My Guide US equities are running ever higher with the S&P 500 and the Dow Jones posting fresh...
Weekly Market Outlook (22-26 January)
UPCOMING EVENTS:Monday: PBoC LPR, New Zealand Services PMI.Tuesday: BoJ Policy Decision, New Zealand CPI.Wednesday: Australia/Japan/Eurozone/UK/US Flash PMIs, BoC Policy Decision.Thursday: ECB Policy Decision, US Durable Goods Orders, US Jobless Claims, US Q4 Advance...