Federal Reserve Bank of Richmond President Thomas Barkin spoke earlier on "The New Job Hierarchy" before the Money Marketeers of New York University:From the Q&A:And more now: Unclear how far Fed will have to take balance sheet wind downSurprised economy has been...
All Tokyo area September CPI data comes in way above the 2% BOJ target rate. Again.
> Central Banks > All Tokyo area September CPI data comes in way above the 2% BOJ target rate. Again. Central Banks <!--> --> <!--> Eamonn Sheridan Thursday, 28/09/2023 | 23:30 GMT-0 28/09/2023 | 23:30 GMT-0 --> <!--> more to...
UK business confidence dropped back to 36 in September vs. 41 in August
UK data from the Lloyds Business Barometer (Sept) 36prior was 41 (and an 18 month high)gauge of pricing expectations higher in Septemberhiring intentions cooled---The Lloyds Bank Business Barometer surveys around 1,200 companies across different sectors of the economy...
Fed’s Barkin: FOMC has time to see data before deciding what’s ahead 4 rates, watching CPI
Federal Reserve Bank of Richmond President Thomas Barkin spoke earlier on "The New Job Hierarchy" before the Money Marketeers of New York University:More from Barkin, Q&A now: Fed holding steady at the September FOMC meeting was appropriateFed has time to see data...
ICYMI – ECB big gun Nagel says may be more rate hikes on the way if data indicates a need
Joachim Nagel is president of the Deutsche Bundesbank and thus a key member of the Governing Council of the European Central Bank.Comments of his hit the new wires on Thursday:“We have done a lot by implementing 10 hikes so far,” “Maybe more will be on the way if the...
HSBC see further losses for EUR/USD and GBP/USD for the month ahead – like JPY better
Summary of a HSBC note comes via eFX. For bank trade ideas, check out eFX Plus. Key Points: 1. USD Upside Potential: • HSBC anticipates that the USD will experience more gains in the coming month. However, they expect these gains to be primarily against the EUR and...
China PMI data is due over the weekend – the country is “suffering a confidence shock”
China's long holiday starts today - markets are closed and there will be no CNY reference rate setting today and all next week. However, there is data due over the weekend:As for other economic indicators, Bank of America have a note out which includes a look at China...
New Zealand consumer confidence up in September, inflation expectations down
ANZ's survey of consumer confidence for September 2023 comes in at 86.4prior 85.4As part of the survey ANZ assesses consumer inflation expectations. Two-year ahead expectation came in at 4.2%prior 4.6%lowest reading since March of 2021---Note that the Reserve Bank of...
Goldman Sachs not concerned that strikes could re accelerate wage growth, boost inflation
From a Goldman Sachs note on Thursday afternoon US time - are unconcerned about unionized workers getting wage hikes, saying these are a laggin indicator:Recent strikes and reports of unions winning or demanding large wage increases have fueled concerns that wage...
Forexlive Americas FX news wrap: Dollar slumps as yields turn lower
Markets:Gold down $8 to $1866WTI crude oil down $1.96 to $91.72US 10-year yields down 4.9 bps to 4.58%S&P 500 up 0.6%AUD leads, USD lagsThursday was a reversal of the recent price action in markets but there wasn't a particular catalyst. To be sure, the consumer...
Bill Ackman says inflation will be persistently high, 10 & 30 year USTs can hit 5%
Ackman has been on fire with his views of steadily rising rates.From last week:From months ago:Ackman is being interviewed on CNBC: Says shutdown will lead to data shutdown, it will be a dark periodInflation will be persistently high30 year treasury can reach 5%Says...
Governance-challenged US lurches to shutdown. But Senate agrees to wear long pants. Really
If you are interested in knowing what those governing the US are focused on at present, as the country lurches towards another shutdown debacle, the US Senate passed a resolution Wednesday: the resolution requires that business attire be worn on the floor of the...
NASDAQ and S&P close higher for the 2nd consecutive day
The NASDAQ and S&P closed higher for the 2nd consecutive day. Admittedly the S&P index only rose marginally (0.02%) yesterday, but it still was a victory in the win column. Today, the gain was a little more respectable at 0.59%.The final numbers for the major...
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Biden administration 5-year off shore oil plan does not include any lease sales for 2024
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,...
No comments on monetary policy in Powell’s initial remarks
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,...
Federal Reserve Chair Powell doesn’t comment on outlook for economy nor monetary policy
Federal Reserve Chair Powell speech - nothing for traders in it re his outlook for the economy or monetary policy.A Q&A will follow - stay tuned!Powell heat (AI image)Powell's event has him giving opening remarks before he then participates in a moderated...
Economic calendar in Asia Friday, 29 September 2023, Japan (Tokyo) inflation data
China begins its long holiday today - there will be no CNY reference rate setting today nor all of next week. There is PMI data due over the weekend though:As for today, CPI data from Tokyo. This is regarded as a leading indicator of nationwide inflation but its not a...
Trade ideas thread – Friday, 29 September 2023
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,...
Want to learn a little about “leaning” in your trading? In this video, I break it down.
"Leaning" is a term I like to use to describe technical levels defined by consolidated price action in an area, moving averages, trendlines, or Fibonacci retracement. The reason why traders like those levels is because they can define risk and limit risk against those...