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,...
CADJPY: Ahead of Canadian CPI
The CPI figures for Canada will be closely watched today, as predictions point to an increase. Headline inflation is forecast at 3.8% y/y, up from 3.3% y/y in July. If this happens, it will be the third consecutive month that the inflation rate has increased, reaching...
Oil to $100 next?
In a week where things are starting off rather quietly, oil continues to sizzle as we see WTI crude touch above $92 today. The unrelenting push higher now sees oil pushing closer towards the highs from October and early November last year, at around $93.25-73 next....
GBPUSD Technical Analysis – The pair is in a strong downtrend
US:The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting.Fed Chair Powell reaffirmed their data dependency and kept all the options on the table.The US CPI last week came in line with expectations, so the market’s pricing remained...
FX option expiries for 19 September 10am New York cut
Similar to yesterday, there isn't anything significant on the expiries board for today as well. As such, trading sentiment will continue to be rather tied down as broader markets are waiting on the Fed decision tomorrow firstly before really committing to any moves on...
European equities a touch lower at the open today
Eurostoxx -0.2%Germany DAX -0.2%France CAC 40 -0.2%UK FTSE flatSpain IBEX -0.1%Italy FTSE MIB -0.2%Investors are still largely waiting on the main events coming up later this week before firming up their intentions. US futures are also lightly changed after the more...
ECB’s Villeroy: We will maintain interest rates at 4% for a sufficiently long time
"The medicine is beginning to work"Current ECB rates are at a good level, better to be patient nowOnce inflation is back to around 2%, rates can fall againOr so he says. We'll see how tolerant they can be when economic conditions continue to worsen at the current pace...
EURUSD Technical Analysis – “Sell on rallies” mode
US:The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting.Fed Chair Powell reaffirmed their data dependency and kept all the options on the table.The US CPI last week came in line with expectations, so the market’s pricing remained...
Switzerland August trade balance CHF 4.05 billion vs CHF 3.13 billion 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,...
A light one on the agenda today in Europe
Major currencies are little changed on the day and are likely to keep that way considering that we are still stuck in this waiting game. In the equities space, US futures are also lightly changed so that isn't helping with the mood while Treasuries are also seemingly...
The waiting game continues…
It's looking just as lifeless as it was yesterday ahead of European morning trade. EUR/USD is sitting in a 15 pips range so far today and the largest one is USD/JPY, with just a measly 30 pips range. And the latter is only seen up 0.1% to 147.75 currently, so that...
Bank of Canada Deputy Governor Sharon Kozicki is speaking Tuesday, 19 September 2023
1400 US Eastern time, 1800 GMT: Bank of Canada Deputy Governor Sharon Kozicki will deliver a speech at the University of Regina in Saskatchewan.Topic: How household differences have affected monetary policy since the onset of the Covid-19 pandemicThe Bank of Canada...
Japan PM to outline plans to allow overseas asset management firms’ entry to domestic mkt
Japanese PM Kishida will speak in New York on Thursday:Will outline Japan's plans to facilitate overseas asset management firms' entry to the domestic marketKishida will also announce further domestic asset management industry reformsInfo comes via Reuters citing a...
ForexLive Asia-Pacific FX news wrap: Wait for Wednesday’s FOMC continues, FX mkt subdued
Asian FX markets once again traded in limited ranges awaiting the outcome of the Federal Open Market Committee (FOMC) meeting on Wednesday, 20 September 2023. News and data flow was very light. On the central bank front we had the People’s Bank of China once again...
ANZ expect a subtle shift from the BOJ at this week’s meeting – to less dovish
This summary is via the folks at eFX. For bank trade ideas, check out eFX Plus. ---ANZ Bank expects no change to the Bank of Japan's (BoJ) monetary policy in the upcoming meeting but anticipates a subtle shift in the central bank's language. The BoJ is likely to drop...
AUD not a lot changed after the Reserve Bank of Australia minutes, small dribble lower
The minutes of the September policy meeting read mixed, with hawkish tones but this line seems to indicate the Bank really thinks the rate hike cycle is over:The recent flow of data was consistent with inflation returning to target within a reasonable timeframe while...
ICYMI – Chevron’s CEO sees oil prices getting “close” to reaching the $100-a-barrel level
Chevron CEO Mike Wirth spoke in an interview on Bloomberg TV. He outlined his reasoning for expecting even higher prices: “Supply is tightening, inventories are drawing ... the trends would suggest, we are certainly on our way, we are getting close (to $100/bbl),”he...
RBA Sept meeting minutes: Considered a 25bp rate hike or on hold alternatives
Reserve Bank of Australia September 2023 meeting minutes. Considered raising rates by 25 bps or holding steady at the September meetingSome further tightening may be required should inflation prove more persistent than expectedCase to hold was stronger, recent data...
PBOC sets USD/ CNY central rate at 7.1733 (vs. estimate at 7.2839)
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...
US Air Force says a debris field has been found after search for a missing F-35 fighter
Not FX, but some good news out of the US. US military personnel, in close coordination with local authorities, have located a debris field in Williamsburg County, two hours northeast of Joint Base Charleston.This related to the U.S. F-35 Lightning II jet that went...