Despite the surging real yields and US Dollar in the past few months, Gold continued to show remarkable resilience decoupling from the usual correlations. This week though, Gold capitulated, and has been falling everyday with stronger and stronger intensity. The last...
North Rhine Westphalia September CPI +4.2% vs +5.9% y/y prior
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,...
Antipodeans: Neutral Towards the End of September
Major stock market indices in the Asia-Pacific region are mostly trading lower on Thursday in anticipation of the latest information regarding Japan’s inflation, unemployment rate, and industrial production. Meanwhile, two Hong Kong-listed branches of Evergrande...
FX option expiries for 28 September 10am New York cut
There aren't any significant expiries to take note of for today. As such, trading sentiment will continue to revolve around the bond market and the spillover impact from that to FX and risk. The selling in bonds tend to hit in the US, so I'd stay guarded on any other...
Inflation back on the menu in European trading today
The dollar remains in an imperial spot as the bond rout continues, once again picking up in US trading yesterday. 10-year yields in the US are up to 4.60% as the selling in bonds are also impacting broader market sentiment in general. Stocks were under pressure...
Federal Reserve Chair Powell is speaking late Thursday – Goolsbee, Cook and Barkin also
Powell will be speaking after the close of US Regular Trading Hours. All times listed below are US Eastern time. Add 4 hours for the GMT hours (eg Powell at 1600 US Eastern time is 2000 GMT).09:00 Federal Reserve Bank of Chicago President Austan Goolsbee gives a...
Some chatter about that Ethereum futures ETFs could start trading next week
Bloomberg opinion piece from one of their crypto analsyts, says the US regulator, the Securities and Exchange Commission (SEC) wanted to quicken the launch of Ether futures ETFs: “They want it off their plate before the shutdown” Said approval could come on Friday...
ForexLive Asia-Pacific FX news wrap: Oil higher again
Oil continued its price move higher during the Asian session. There was no fresh catalyst, the forces of:demand risingsupply being held backinventories fallingcarried on supporting the price. The data focus during the session was on Australian retail sales for August,...
ECB’s de Cos will speak on Thursday – topic is the future of globalization
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,...
Two Bank of England speakers on the agenda Thursday, 28 September
Neither of these look like the venue for much on monetary policy outlooks - but perhaps in any Q&A?05:30 US Eastern time (0930 GMT) Speech by Bank of England’s Executive Director for Markets Andrew Hauser at Market News International Connect Event ‘A journey of...
The yield on the 10 year JGB has hit its highest since September 2013
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 finance minister Suzuki says its important for currencies to move in stable manner
More verbal waffle JPY intervention from Japan.Suzuki declined to comment when asked about the prospects of a 'rate check'.What's a 'rate check'? Glad you asked, here you go:This is when the Bank of Japan contacts FX dealers at banks and asks for a dealing level in...
Australian August retail sales +0.2% m/m (vs. expected +0.3%)
Australian retail sales data for August 2023 come in at +0.2% m/m, a miss expected +0.3%, prior +0.5%The Reserve Bank of Australia began an an aggressive rate hike campaign in May 2022 and have only just relented in the past 3 months. Higher rates have played a part...
PBOC sets USD/ CNY reference rate for today at 7.1798 (vs. estimate at 7.3239)
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...
Brent – Oil on a rip higher in Asia trade
Oil is priced in US dollars, which has been on the rise for weeks, which makes oil's super-strong performance even more impressive.Its on the rise again in Asia following a solid performance on Wednesday:There is no fresh news catalyst spurring on the rise. The...
Trading in shares of troubled Chinese property developer Evergrande suspended in HK
Hong Kong exchange says trading of shares in the firm has been suspended. Comes after reports that its chairman had been placed under police surveillance.Suspended:EvergrandeEvergrande Property ServicesEvergrande New Energy VehicleErrr, Tom, there is noneMoneyMaker FX...
China’s PMIs for September will be released during the long holiday over the weekend
China's begins its 10-day holiday tomorrow. Friday, 29 September is the first day off and the break continues all next week: However, coming up this weekend are the official PMIs for September:Both the manufacturing and non-manufacturing are expected to show...
PBOC is expected to set the USD/CNY reference rate at 7.3239 – 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...
New Zealand data – September business confidence improves from August
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,...
BOJ intervention to support the JPY could get a boost from ‘risk off’ sentiment
Comments on wariness over Bank of Japan intervention via Mizuho:It would be unwise to project the BoJ’s restraint on premature tightening as a green light for aggressively shorting the JPY. Intervention risks are clear and presentthe MoF is intent on keeping...