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,...
IMF’s Georgieva: Inflation is still high
That requires interest rates to remain high, throwing more cold water on growthInternational cooperation truly a matter of the highest priorityThe costs of fragmentation are very significantThat's the dream for central banks but as we have come to find out, it is much...
Bitcoin consolidates gains after ETF ticker fiasco
Bitcoin (BTC/USD) daily chartIt has been quite the week so far for Bitcoin, after it surged past the $30,000 mark and took more or less one shot to clip the $35,000 mark. Since then, gains have been capped but not after a bit of a fiasco with the ETF ticker on the...
USDJPY Technical Analysis – Waiting for a breakout
USThe Fed left interest rates unchanged as expected at the last meeting.The macroeconomic projections were revised higher, and the Dot Plot showed that the FOMC still expects another rate hike by the end of the year with less rate cuts projected in 2024.Fed Chair...
European equities off to a sluggish start at the open today
Eurostoxx -0.4%Germany DAX -0.1%France CAC 40 -0.5%UK FTSE -0.1%Spain IBEX -0.6%Italy FTSE MIB -0.5%This comes as S&P 500 futures are also marked down by 0.4%, although it is largely tech shares that are weighing on sentiment. Nasdaq futures are down 0.6% but Dow...
Aussie the only notable mover as we get into European morning trade
AUD/USD is up 0.3% on the day to 0.6375 but is off its earlier highs near 0.6400. The aussie is the only notable mover so far, climbing after the stronger Australian CPI data here. That is seeing traders price in higher odds of a RBA rate hike next month, with it...
USDCHF Technical Analysis – The trend has turned bearish
US:The Fed left interest rates unchanged as expected at the last meeting.The macroeconomic projections were revised higher, and the Dot Plot showed that the FOMC still expects another rate hike by the end of the year with less rate cuts projected in 2024.Fed Chair...
FX option expiries for 25 October 10am New York cut
There aren't any significant expiries close to the current price action to take note of for the day. As such, trading sentiment will continue to revolve around risk flows and bond market developments. It seems like we are going back to figuring out the known unknowns...
What are the odds of a RBA rate hike next month now?
In case you missed the headlines from earlier, you can check out Eamonn's recap here: RBA rate hike incoming on November 7 - will they hike again in December?The OIS market is now pricing in roughly 63% odds of a 25 bps move next month, following the...
Hong Kong to cut stamp duty on stock trading to 0.10% from 0.13%
That's another way to prop up the market I guess, after pretty much one-way traffic in the Hang Seng (and Chinese stocks) since the start of the year. There was a gap higher today with the open being 2.7% higher than yesterday's close but the index has trimmed gains...
ForexLive Asia-Pacific FX news wrap: Australia CPI higher, RBA rate hike bets firm, AUD up
Australian CPI jumps, as do RBA rate hike bets and the Australian dollar. Read from the bottom up for the chronology:Other: Q3 inflation data from Australia was the focus going into the session. The data showed stronger than expected CPI growth, the q/q for each of...
RBA rate hike incoming on November 7 – will they hike again in December?
The inflation data earlier today has made a November 7 rate hike very likely from the Reserve Bank of Australia. +25bp in November seems a done deal to me. A pause again seems very unlikely given the forthright comment in the latest RBA minutes:“the Board has a low...
Commonwealth Bank of Australia forecast a 25bp RBA rate hike on November 7
Via CBA, their outlook for the Reserve Bank of Australia:CPI stronger than expected – RBA to hike the cash rate in November The headline CPI rose by 1.2%/qtr in Q3 23 and the annual rate dipped to 5.4%. The RBA’s preferred measure of underlying inflation, the trimmed...
European Central Bank President Lagarde is speaking Wednesday (Powell too!)
Coming up at 1700 GMT, which is 1300 US Eastern time, ECB President Christine Lagarde will speak at an official dinner of Bank of Greece in Athens, Greece.And, despite the Fed blackout period, Federal Reserve Chair Jerome Powell gives brief introductory remarks before...
Hong Kong to cut home purchase tax by 50%
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,...
China vice fin min says govmt debt level is within a reasonable range
China's Vice Finance Minister remarks crossing: Govt debt level is still within a reasonable range despite a modest rise in the budget deficit ratio this yearThe usage of new sovereign bonds can drive up domestic demand actively, and further consolidate economic...
Australia – Demand for luxury supercars “through the roof”
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,...
WSJ’s Fed insider Timiraos says most think FOMC has made its last rate increase
Nick Timiraos of the Wall Street Journal is the one to watch for Federal Reserve information, especially during a blackout period. If there is anything the Fd needs to convey while officials are prohibited from speaking during this period they'll use Timiraos to do...
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Australian Treasurer Chalmers says inflation is moderating but persistent
Australian Treasurer Chalmers says inflation is moderating overall, it is proving to be more persistent here in Australia.He's half right. In the data released earlier all three measures of inflation were above expectation an above the prior reading. Australian Q3...