more to come---I posted up info on this indicator a little earlier ICYMI:the index is designed to assess the current economic climate in Germany and forecast future economic developments by surveying around 9,000 businesses in various sectors such as manufacturing,...
ECB Villeroy: rates says should remain at this level for sufficiently long period of time
Francois Villeroy de Galhau, Governor of Banque de France, and a Governing Council member at the European Central Bank Says what we see now is slowdown but still with positive growth - cnbc interviewPositive growth expected for 2024-25On interest rates says should...
Bank of Japan Gov Ueda says the Bank won’t directly target FX in guiding monetary policy
Bank of Japan Governor Ueda says the BoJ will not directly target FX in guiding monetary policy If the BOJ did directly target the yen with policy they'd be running afoul of all sorts of agreements Japan has with the G7.Further:May end YCC when stable and sustainable...
ECB’s De Cos says must avoid both insufficient and excessive tightening
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,...
ECB Villeroy: risk of doing too much & risk of doing too little now symmetrically balanced
Francois Villeroy de Galhau, Governor of Banque de France, and a Governing Council member at the European Central Bank If we can reach our inflation target with a soft landing rather than a hard one, it’s much betterIn my judgement, these risks are now at least...
Coal mine fire in Southern China’s Guizhou Province kills 16 people
Some very bad news out of China over the weekend. Local authorities in Guizhou province say that a coal mine fire killed 16 people on Sunday. blaze broke out at the Shanjiaoshu coal mine in Panguan, a town in Guizhou provinceinitial investigation suggests that the...
Gold Technical Analysis – The uncertainty remains very high
Last week, Gold was about to break above the 1934 resistance but got smacked back down following the more hawkish than expected FOMC Dot Plot. There’s still lots of uncertainty in the market around interest rates as the Fed is aiming for the soft-landing scenario...
Bank of Japan Governor Ueda says important for FX to move stably reflecting fundamentals
More again from Bank of Japan Governor Ueda, trying his hand at some verbal intervention to support the yen.Who wants to tell the Gov that a 500-odd bp yield differential between the US and Japan is a very strong fundamental that is moving the USD/JPY rate?Ueda:...
European Central Bank’s Kazaks says Bank’s hike in September may allow a pause in October
Latvian central bank governor, and therefore a Governing Council member of the European Central Bank, Martins Kazaks with some early Europe remarks on the newswires. The hike from the ECB in September may allow a pause in October. ---I think its more than 'may',...
BOJ Dep Gov Uchida says need to closely watch FX markets
Bank of Japan Deputy Governor Uchida repeating the comment from his boss, Governor Ueda earlier:the Bank needs to patiently continue monetary easingUncertainty high re Japan's economythe Bank's decision in July to make the JGB 10 year yield target flexible is aimed at...
More from Bank of Japan Governor Ueda: Aware of the impact of weak yen on firm earnings
Bank of Japan Governor Ueda spoke earlier:Bank of Japan Governor Ueda speech, full text. Patiently maintaining monetary easing.More now: BOJ recognizes that impact of rising raw material costs, weak yen on earnings vary for each sector, company sizePolicy prescription...
Brent oil price could surge as high as US $150 / barrel says JP Morgan
JPMorgan on the rising oil price, say that Brent could continue to $150 / bbl.Citing:OPEC+ supply cuts, mainly led by Saudi Arabia - they have cut circa 1mn bbl/day from the market - and RussiaIncrease in demandshocks to capacitya supercycle for energymoves to reduce...
Goldman Sachs says in the middle of the worst seasonal equity period of the year right now
Goldman Sachs on US equities. “We are in the middle of the worst seasonal equity period of the year right now for the market to close out Q3. Since 1928, the median SPX return for the last 10 out of 11 days in September is negative. In addition, Monday is holiday and...
S&P 500 Technical Analysis – Key levels in play
Last week the Fed kept interest rates unchanged as expected while striking a hawkish tone via the Dot Plot. In fact, the Fed not only sees another rate hike by the end of the year, but also much less rate cuts by the end of 2024. Fed Chair Powell has also admitted...
ECB speakers for Monday 25 September include Villeroy, Schnabel, and President Lagarde
Bank of France President Francois Villeroy de Galhau spoke over the weekend:He is speaking again on Monday at 0700 GMT, which is 0300 US Eastern time:at joint European Central Bank - Banque de France - Centre for Economic Policy Research conference "Monetary Policy...
Bank of Japan Governor Ueda speech, full text. Patiently maintaining monetary easing.
Ueda is speaking in Osaka. Headlines via Reuters: Japan's economy recovering moderatelyOur basic stance is that we must patiently maintain monetary easingCurrent policy framework has big stimulative effect on economy, but at times could cause big side-effectsBOJ's...
Beijing-based developer China Oceanwide Holdings declared bankrupt in Bermuda
China Oceanwide Holdings is a Beijing-based private developer with projects in Los Angeles, New York, San Francisco and Hawaii and more. The company is to be wound up by a court in Bermuda. Hong Kong-listed shares in the firm were suspended from Monday morning due to...
Singapore August inflation data: Headline CPI +4.0% y/y (expected was also +4.0%)
Headline CPI for August 2023 +4.0% y/yexpected +4%, prior +4.1%The Core rate rose 3.4% y/y in August expected +3.5%, prior +3.8%Data comes via the Monetary Authority of Singapore (MAS), Singapore's central bank, and the SG Ministry of Trade:"Global supply chain...
FT reports that a senior Nomura banker has been banned from leaving mainland China
Financial Times (gated) citing unnamed sources for the information that a senior Nomura banker has been banned from leaving mainland China.The report (gated) says the ban is connected to a long-running investigation into the country’s top tech dealmaker Bao Fan,...
FX option expiries for 25 September at the 10am New York cut
EUR/USD 1.0725 in the amount of EU919.5mn, 1.0540 in the amount of EU695mnUSD/JPY 149.00 in the amount of $643mn,147.00 in the amount of $1.24bn GBP/USD 1.2275 in the amount of GBP545mn, 1.2336 in the amount of GBP385mnAUD/USD 0.6485 in the amount of AUD340.6mn,0.6400...