US:·The Fed left interest rates unchanged as expected.The macroeconomic projections were revised higher as the economy showed much stronger resilience than expected and the Dot Plot showed that the majority of members still expects another rate hike by the end of the...
UK August mortgage approvals 45.35k vs 45.00k expected
Prior 49.44k; revised to 49.53kIt is four months in a row now that net borrowing of mortgage debt by individuals have increased, up by £0.2 billion on the month to £1.2 billion in August. Meanwhile, net consumer credit was at £1.6 billion in August, up from £1.3...
Strong dollar: A Tale of Two Extremes
Fed chief Jerome Powell's hawkish speech after the regulator decided to leave the policy rate unchanged, to put it mildly, did not inspire investors.The economy is already suffering the consequences of tight monetary policy, with a growing number of corporate...
Germany September unemployment change 10k vs 15k expected
Prior 18kUnemployment rate 5.7% vs 5.7% expectedPrior 5.7%German unemployment rises less than expected on the month but it has been a consistent trend over the last year at least. Compared to September 2022, the number of unemployed persons were at 2.502 million but...
AUD/USD survives another “death trap” this week
AUD/USD daily chartThe pair broke both the August and early September lows in a drop to 0.6330 earlier this week, which was the lowest level since November last year. But amid a turnaround in sentiment and flows since yesterday, buyers are finding a new lease of life...
Dollar slumps as yields retreat towards the end of the week
The dollar is down to start European trading as bond yields retreat from the highs as we look towards the end of the week. 10-year Treasury yields are down 4.6 bps to 4.550% now but the drop is even more stark in Europe with 10-year German bund yields down some 9.4...
USDJPY Technical Analysis – Intervention fears weigh on the pair
US:The Fed left interest rates unchanged as expected.The macroeconomic projections were revised higher as the economy showed much stronger resilience than expected and the Dot Plot showed that the majority of members still expects another rate hike by the end of the...
Switzerland September KOF leading indicator index 95.9 vs 90.5 expected
Prior 91.1; revised to 96.2The reading may be a beat but it is actually lower than in August after the revision higher in the previous month. But at least it is showing some signs of stabilisation, pointing to a not so bleak outlook for the Swiss economy.MoneyMaker FX...
France September preliminary CPI +4.9% vs +5.1% y/y expected
Prior +4.9%HICP +5.6% vs +5.9% y/y expectedPrior +5.7%The readings are softer than estimated and will give the ECB some added comfort, alongside the lower German figures from yesterday. The monthly reading also shows a drop of 0.5% in consumer prices, so that does add...
UK finance minister Hunt says GDP data once again proves the doubters wrong
There was a slight beat in the year-on-year reading, up to 0.6% from the 0.4% estimate in the preliminary report last month. That being said, I wouldn't be too quick to cheer on any marginal growth in GDP considering the bleak outlook so far in the second-half of the...
Germany August retail sales -1.2% vs +0.5% m/m expected
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,...
Germany August import price index +0.4% vs +0.5% m/m expected
Prior -0.6%Energy imports may be down some 54% compared to August last year but they are seen up by a little over 4% compared to July this year. If you strip that out, import prices were actually down 0.3% on the month so that speaks to softer price pressures in other...
UK Q2 final GDP +0.2% vs +0.2% q/q prelim
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,...
GBPUSD Technical Analysis – Key levels in play
US:The Fed left interest rates unchanged as expected.The macroeconomic projections were revised higher as the economy showed much stronger resilience than expected and the Dot Plot showed that the majority of members still expects another rate hike by the end of the...
BofA raises 10-year JGB yields forecast for the year to 0.90% from 0.75% previously
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,...
Japan September consumer confidence index 35.2 vs 36.2 prior
Japan consumer sentiment dips further towards the end of Q3 with all categories also observing a drop. Here's the breakdown:Overall livelihood 32.0 (-0.9)Income growth 38.7 (-0.3)Employment 41.1 (-1.6)Willingness to purchase durable goods 29.0 (-1.0)MoneyMaker FX EA...
FX option expiries for 29 September 10am New York cut
There are a couple to take note of, as highlighted in bold. But for a month-end and quarter-end date, there aren't too many significant option expiries to be wary about.The first for EUR/USD is at 1.0600 and is a relatively large one, so it adds to a defensive layer...
Inflation remains the focus on the agenda in Europe today
It was a relief day for broader markets yesterday and that is still holding somewhat so far today. The dollar retreated while stocks gained some reprieve, even as we continue to see Treasury yields hold higher. Meanwhile, oil prices also turned and sharply reversing...
BOJ to conduct unscheduled bond buying operation to tamp down rates
This comes as Japanese yields continue to nudge higher all through this week, with 10-year JGB yields touching 0.77% today:10-year JGB yields (%) daily chartSince the BOJ allowed for yields to roam above the 0.50% mark, bond sellers haven't really let up and I reckon...
Fed’s O’Neill will speak Friday, and text of NY Fed Williams speech will be released.
New York Federal Reserve branch President John Williams was due to speak on Friday but cancelled his appearance citing a family matter. The text of his prepared remarks will be published though.1250 GMT, 0850 US Eastern time: Federal Reserve Bank of St. Louis Interim...