The dollar regained its composure towards month-end and quarter-end trading on Friday and to start the new week, higher bond yields are likely to keep the greenback steadier. 10-year Treasury yields are up 4 bps to 4.612% and that is underpinning USD/JPY in particular...
Federal Reserve Chair Powell speaks Monday, along with Harker, Williams, Mester
The timings for these are in GMT/US Eastern time:1500/11:00 Federal Reserve Chair Jerome Powell participates in roundtable with workers, small business owners, local employers and community leaders to discuss efforts to redevelop and grow the local economy1500/11:00...
Bank of England speakers on the agenda today include Khan and Mann
On Monday, 2 October 2023:1300 GMT / 09:00 US Eastern time: Speech by Bank of England's Shoib Khan at the Association of Financial Mutuals Annual Conference1500 GMT / 11:00 US Eastern time: Catherine Mann, an external member of the Bank of England's Monetary Policy...
ForexLive Asia-Pacific FX news wrap: Mixed PMIs from China, 45 days funding for US govmt
Major FX rates traded in small ranges during the session. USD/JPY ticked a little higher to an 11-month high above 149.75. From the Bank of Japan today we had the ‘Summary of Opinions’ from the September meeting. If you are not familiar with the Summary, it provides a...
ECB speakers on Monday include Vice President Luis de Guindos
0700 GMT, 0300 US Eastern time: ECB Vice President Luis de Guindos speaks at Foro Empresarial El Diario Vasco in San Sebastián, Spain.The promotional material on what he will be addressing:Rate increases, inflation, bank deposits... Families face an increasingly...
Australian fund manager says there’s a 40% chance of an RBA rate hike in November/December
Dr. Shane Oliver, Head of Investment Strategy and Chief Economist at AMP Capital Investors was speaking with local media, ABC.Says there is a 40% chance of a 25bp interest rate increase from the Reserve Bank of Australia at the November or December meeting. Says this...
Japan finance minister Suzuki says cautiously watching FX moves
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 September ISM manufacturing PMI is on the docket on Monday
The ISM Manufacturing PMI has been in contraction for nearly a year, indeed US manufacturing has been in recessionary territory also. The expectations is for an 11th consecutive month in contraction. During the 2007-2008 Great Recession this indicator recorded a...
China is investigating whether founder of Evergrande attempted to transfer assets offshore
Last week the news hit that China had placed the Chairman of troubled property firm Evergrande 'under police control'.Of all the lovely places in China to spend this holiday week 'under police control' is not one of them. The Wall Street Journal now reports that China...
USD/JPY has hit an 11-month high – when will Japanese officials start gas-bagging?
The USD/JPY range hasn't been much today, but the direction has been up. Above 149.72 and to its highest in 11 mtnhs.Officials from Japan's finance ministry, and the wider government, along with the Bank of Japan have been active in what is sometimes referred to as an...
Japan final manufacturing PMI for September 48.5 (prior 49.6)
The flash readings for the Jibun Bank / S&P Global PMIs are here:Commentary from the report on the disappointing result:The latest Jibun Bank PMI survey highlights a sustained downturn in manufacturing sector performance at the end of the third quarter. The...
Australian private survey September CPI 0.0% m/m (prior 0.2%)
Melbourne Institute monthly inflation gauge flat m/mprior +0.2%+5.7% y/y prior +6.1%For the trimmed mean, +0.1% m/m and +5.1% y/yprior +0.1% m/m and +5.7% y/yThis indicator is moving in the right direction for the RBA. CPOI levels are still elevated though. And the...
BOJ September meeting summary – Yen, oil price moves may stop inflation from falling much
From the Bank of Japan Summary of Opinions at the Monetary Policy Meeting on September 21 and 22, 2023.Headlines via Reuters: One member said inflation likely to slow aheadOne member said inflation exceeding 2% but this is largely due to firms passing on higher import...
Bank of Japan Q3 Tankan report – Firms expect the CPI still above 2% target in 5 years
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,...
Why JDM cars, and perhaps even the yen, look about to get cheaper
Via Reuters comes the info that Japan has banned most used-car sales to Russia.the export trade in used cars from Japan to Russia was worth about USD $2 billion annuallyThe move from Japan to cut off the trade came only in August, much later than other sanctions had...
Barclays analysts say that both higher, and lower, rates could turn US equities lower
Via a Barlcays note issed on Friday, analysts at the firm are warning o the potential for US stocks to turn lower, regardless of the direction of rates. They say that the yield on the 10-year Treasury is getting close to a point where, from a historical perspective,...
Bitcoin jumps above $28,000
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 equity index futures have opened for the week’s trade with a gap higher
S&P 500 futures have opened with a small gap higher after a weekend with more encouraging news on China's economy and funding for the US government: This chart is from our charting app, which is free and can be found at this linkYou can check out the gap up for NQ...
Australia data – Final September Manufacturing PMI 48.7 (flash was 48.2, prior 49.6)
S&P Global/Judo Bank Australia Manufacturing Purchasing Managers' Index (PMI) for September 2023, the final reading has come in at sad-looking 48.7The key points made in the report:Output fell modestly amid marked reduction in new orders Staffing levels rose at...
New Zealand data – August Building Permits -6.7% m/m (prior -5.4%)
Data for building consents in NZ for August 2023, down 6.7% m/mprevious was -5.4%for the y/y -17%Commentary from the statistics folks in the NZ government:“This figure continues the downward trend from the peak of 51,015 in the year ended May 2022,” “However, the...