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,...
Buy the rumour, sell the fact for the Japanese yen
There was some profit-taking and selling in USD/JPY yesterday despite a higher move in Treasury yields. And I would attribute that to fears ahead of the BOJ today, just in case the Japanese central bank produced a more hawkish message. But alas, they didn't deliver on...
The bond market continues to hog the spotlight
US Treasury 10-year yields (%) monthly chartThat is the highest in 16 years as the rout in bonds continue to gather pace on the week. Traders were already on edge earlier this week but the Fed vindicated the selling momentum and has seen yields shoot higher as a...
Moody’s have downgraded some Chinese property developer firms
Moody's have downgraded several Chinese property developersMoody's recently lowered the outlook of the sector.Has now downgraded the credit ratings of property developers including: China Resources Land, China Overseas Land and Investment, China Vanke, Greentown...
JPMorgan will include India in its widely tracked emerging market debt index
Reuters carry the news on JPMorgan announcing on Friday that it will include India in its widely tracked emerging market debt index.India's local bonds will be included in the Government Bond Index-Emerging Markets (GBI-EM) index and the index suite, benchmarked by...
Hedge fund manager Ackman expects even higher long term US rates
Bill Ackman is the founder and CEO of Pershing Square Capital Management.He's posted a long tweet:Some points he makes:The world is a structurally different place than it was. The peace dividend is no more. The long-term deflationary effects of outsourcing production...
Next on the day’s agenda from the Bank of Japan is Governor Ueda’s press conference
The Bank of Japan kept its main policy levers unchanged short-term rates minus 0.1%10-year Japanese government bond (JGB) yields to move around 0%retained a reference to the fluctuation range for 10-year bond yields to "around plus or minus 0.5 percentage point"will...
Yuan is higher after some Chinese banks sold USD/CNY
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 makes no change to its major policy planks, no change to forward guidance
Bank of Japan September 2023 Statementmore to come BOJ maintains negative interest rate policy, applies -0.1% rate to financial institutions' accounts at central bankMaintains 10-year JGB yield target around 0%Maintains band around its 10-year JGB yield target at up...
ForexLive Asia-Pacific FX news wrap: Awaiting the Bank of Japan statement
Ahead of the much-awaited BoJ statement today we had inflation data from Japan for August. Once again the levels of underlying inflation are at high levels (for Japan):the ‘core’ rate, that excluding fresh food, came in at 3.1% vs. the 3.0% expected and above the Bank...
Japan finance minister Suzuki says no comment on FX levels or moves
And, here we go, Suzuki comments on FX: No comment on recent fx levels, movesLast year's fx intervention had its effectClosely watching fx moves with high sense of urgencyWon't rule out any options for response to excessive fx volatilityClosely contacting with...
USD is a touch stronger against the yen, EUR, GBP heading into the Bank of Japan statement
Yields on US Treasuries are staying solid. Earlier on the 10-year hit 4.5% and its highest since 2007. The stronger USD is not uniform. AUD, CAd and NZD are all little changed while JPY, EUR and GBP are all off a few points. None of the moves are large. The Bank of...
BOJ meeting today will pave the way for a move in October and more in early 2024
Previews of the September Bank of Japan Monetary Policy Statement due today can be found here:ING have some insightful comments on what is likely today. The CPI data earlier has set the scene:Consumer price data for August was quite a bit stronger than early Tokyo...
PBOC sets USD/ CNY reference rate for today at 7.1729 (vs. estimate at 7.3009)
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...
Japan September preliminary Manufacturing PMI 48.6 (prior 49.6)
> Japan September preliminary Manufacturing PMI 48.6 (prior 49.6) <!--> --> <!--> --> more to come ADVERTISEMENT - CONTINUE READING BELOW <!--> Tags --> ADVERTISEMENT - CONTINUE READING BELOW <!--> Most Popular ADVERTISEMENT -...
PBOC is expected to set the USD/CNY reference rate at 7.3009 – Reuters modelled 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...
More on Japan PM Kishida’s moves to spur competition in asset management industry
The headlines on this were earlier in the week:These were a heads up to a speech the Prime Minister was to give in New York. Which he has now done. Our patience paid off any now we have more details (Reuters here for much more):Japanese Prime Minister Fumio Kishida...
ECB’s Lane: Inflation over 2% is costly for the economy
European Central Bank chief economist Lane spoke earlier:Now in Q&ACentral banks try to hit inflation in the medium termInflation over 2% is costly for the economySays won't be speculating on future European Central Bank policy movesthe most efficient wat to...
Japan August Inflation: CPI excluding fresh food & energy +4.3% y/y (prior +4.3%)
> Japan August Inflation: CPI excluding fresh food & energy +4.3% y/y (prior +4.3%) <!--> --> Eamonn Sheridan Thursday, 21/09/2023 | 23:30 GMT-0 21/09/2023 | 23:30 GMT-0 <!--> --> more to come----The big event out of Japan today is the Bank of...
LNG strikes – Australian media report that Unions have agreed to end dispute with Chevron
The media report doesn't cite sources but says that the LNG union have agreed to endorse recommendations made by the industrial umpire to end dispute with Chevron.And that the Union will agree to call off strikes at Chevron facilities. more to comeMoneyMaker FX EA...