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...
PBOC is expected to set the USD/CNY reference rate at 7.2839 – 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...
Reserve Bank of Australia September meeting minutes are due soon – preview
I posted a quick RBA minutes preview here earlier:Snippet via National Australia Bank: We expect the Minutes to reflect that minimal reassessment from the state of play in August. If the Minutes continue to reflect that a hike was considered, it will support the Banks...
[2024년, 취약계층 카드!! 1인 13만원/ 4인 52만원!! 30일까지 꼭~신청/사용!! ]#3.1경제독립tv
https://www.youtube.com/watch?v=jwLJYNlza8M [2024년, 취약계층 카드!! 1인 13만원/ 4인 52만원!! 30일까지 꼭~신청/사용!! ]#3.1경제독립tv 나에게 힘이되는 "돈되는 복지정보"!! 최신 "재테크 소식"을 가장 빠르고, 정확하게 받고 싶다면 3.1경제독립tv" "좋아요", "구독", "알림설정" 부탁드리겠습니다! 감사합니다...
Bank of America joins in on US ‘disinflation’ – its on track and consumer is flexing
"Disinflation" has been popping up in analyst notes all over the place:Bank of America are on board: The August CPI, PPI & retail sales data leave our core views unchanged. Disinflation is on track and the consumer is resilient. The Fed's message ... is likely to...
Australian Weekly ANZ Roy Morgan Consumer Confidence survey 79.8 (vs. prior 77.6)
Highest for this since late April. ANZ comments on the still dour result, looking for the bright side:While it remains at very low levels, there are signs of tempered optimism amongst households. Inflation expectations also fell to 4.9% – the lowest since Feb...
Canadian inflation data for August is due on Tuesday, 19 September 2023 – preview
A couple of previews (in brief) for the CPI report due from Canada at 0830 Eastern time.Scotia:one of two inflation reports that the Bank of Canada will have to consider before its next policy decision on October 25thestimated a headline rise of 0.3–0.4% m/m NSA that...
US autoworkers strike – a hit to the US economy and an inflationary impulse
Bank of Montreal analysts on the autoworkers strike, say the impact will be across multiple facets:The most immediate of which will be the associated increase in new car prices with used vehicles quick to follow. The inflationary impulse will be exacerbated by the...
Morgan Stanley says investors are expecting equity weakness into 2024
A snippet from Morgan Stanley on US equities. Analysts at the firm, who until recently were persistently bearish on stocks, say that investors have now extended out their expectations of the timing of equities weakening into 2024.Finding it difficult to fully abandon...
US auto worker strike: Stellantis’ latest offer could lead to the closure of 18 facilities
US automaker Stellantis (Chrysler parent) is one of the US 'big 3' automakers 9thoers are GM and Ford) hit by the strike. CNBC updates the latest, citing 'sources familiar with the discussions':The most recent contract proposal by Stellantis to the United Auto Workers...
Canadian Finance Minister Freeland said government will do all it can to stabilize prices
The comments came in reference to Industry Minister François-Philippe Champagne and Finance Minister Chrystia Freeland meeting on Monday with the heads of Canada's five largest grocery chains.The 5 chains have "agreed to work with" the federal government to stabilize...
BlackRock cut Chinese equities to neutral from overweight – China property sector a drag
Via the latest note from BlackRock Investment Institute, which covers a wise scope, this on China and Chinese shares. I've bolded the more encouraging bit:We ... cut emerging market (EM) stocks, including Chinese equities, to neutral from overweight as China’s...
Citi says oil could briefly touch $100/bbl, but even $90 is not sustainable
A note from Citigroup commodity analysts via CNBC (gated). Analysts at the bank say Oil prices may head toward $100 "for a short while", citing output cuts and geopolitical tensions. But that level is not sustainable and the price is likely to drop into the end of the...
Forexlive Americas FX news wrap: US home builder sentiment unexpectedly sinks
Markets:Gold up $10 to $1933WTI crude up 69-cents to $90.72US 10-year yields down 1.1 bps to 4.31%S&P 500 up 2 points to 4452EUR leads, GBP lagsThe euro made some headway today as eurozone yields closed in on the highs of the year. The market has been undecided on...
Economic calendar in Asia, Tuesday, 19 September 2023 – RBA September meeting minutes
It's a light calendar for the session ahead. The September meeting of the Reserve Bank of Australia produced nothing to surprise. he RBA left the cash rate unchanged at 4.10% for the third month in a row, as was widely expected. There was little change in the post...
Trade ideas thread – Tuesday, 19 September 2023
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,...