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...
New Zealand will begin publishing additional monthly price indexes
New Zealand is the only OECD nation still relying on quarterly inflation data.Statistics New Zealand have announced that they'll begin publishing additional monthly price indexes to assist the central bank and economists to more accurately forecast quarterly headline...
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Biden to ask tough questions in Israel, meet families of victims, hostages of Hamas attack
US National Security Council spokesman John Kirby: Biden will meet with families in Israel of victims and hostages of Hamas attackBiden will be asking the Israelis some tough questionsBiden will make clear he doesn't want the conflict to expandBiden will address the...
X (Twitter) will begin charging new users $1 a year to access key features
Fortune with the report:X, formerly known as Twitter, will begin charging new users $1 a year to access key features including the ability to tweet and retweetOwner Musk floated the idea “It’s the only way I can think of to combat vast armies of bots.”MoneyMaker FX EA...
Australia data: Westpac Sep. Leading Index “improves but still pointing to sub-par growth”
Comments (in brief) from the WPAC report on its September 2023 Leading Index. The six-month annualised growth rate in the Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the...
China’s sustained, sophisticated, scaled theft of intellectual property is the worst ever
Five Eyes intelligence partners are holding a public summit in California.Five eyes are the intelligence organisations of the US, United Kingdom, Canada, Australia and New Zealand.Australian Security Intelligence Organisation director-general Mike Burgess:"We...
More from RBA Gov Bullock – if inflation remains higher than expected will respond
More from Reserve Bank of Australia Governor Bullock: If inflation remains higher than expected, will have to respond with policyWe think we are running narrow path, but very alert to upside inflation risksI am not sure that Bullock is more hawkish than previous...
RBA Gov Bullock says is a bit more worried about the inflation impact from supply shocks
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,...
US Congress has heightened security posture, increased police presence
An ominous update from the US Congress:a heightened security posture and an increased police presence will be in place on Wednesday, October 18, 2023The Hamas explosive that killed 500 people in a Gaza hospital is being used by the terrorists to spread lies and...
ICYMI – ECB’s Holzmann says may require additional ECB rate hikes
Robert Holzmann is Governor of Austria's central bank and a European Central Bank Governing Council member: We are not out of the woods yet on inflation Further shocks may require additional ECB rate hikes. Payments on bank reserves are a huge problemECB's...
Who is buying US stocks? BoA says “wide participation”, institutional, retail, hedge funds
Analysts at Bank of America say that equity buying came from every segment of investors they track:wide participation from investorssingle stocks and equity ETFs had net inflows all clients were net buyersInstitutional clients, Retail (net buyers for 4 consecutive...
Coinbase shares to surge – the Bitcoin ETF false news was a dress rehearsal for real thing
Analysts at Barclays say the market response to the false news from Monday on the BTC ETF approval is guidance on what is to come once real approval has been granted:we continue to see limited P&L benefit to Coinbase(but) we view this (the response to the false...
Jordan has cancelled the summit meeting in Amman with Biden, Egypt and Palestinian leaders
In response to the brutal Hamas attack on a hospital in Gaza.hundreds of Palestinians were killedJordan has cancelled the summit meeting that was scheduled between US President Biden, Palestinian President Mahmoud Abbas and Egyptian President Abdel Fattah al-Sisi in...
US Congressman Jordan says the House will vote for speaker at 11am Wednesday, 18 October
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,...
Fed’s Kashkari says inflation is still too high
Fed Minneapolis President Neel Kashkari is speaking on "The Intersection of the Federal Reserve in the Health Care Sector" before the 15th Annual David A. Rothenberger Lecture event hosted by the University of Minnesota Medical School.Kashkari has been in the...
China data due today includes Q3 GDP and September Industrial Output, Retail Sales, & more
I posted a screenshot of the expected and priors here earlier, here it is again:We go into the data with a relatively sedate yuan, its been fairly flat against the USD for weeks now. This is nearly all due to the efforts of the People's Bank of China, the Bank has...
Forexlive Americas FX news wrap: Yields jump as retail sales beat, dollar volatile
Markets:Gold up $3 to $1922WTI crude oil up 65-cents to $87.31US 10-year yields up 13 bps to 4.84%S&P 500 flat, Nasdaq -0.3%AUD leads, CAD lagsThe retail sales report highlighted -- once again -- that you can't underestimate the spending power of the US consumer....
Can we expect a rebound in U.S. markets by the end of the year?
The U.S. economy is slowing, but there is no talk of a significant collapse or worse. The labor market also continues to hold up despite all the headwinds. Finally, inflation, albeit with some fluctuations, is somewhat under control.Against the backdrop of such...
Mixed close for the major indices today
The major indices are closing mixed/near unchanged. The NASDAQ index was the biggest mover with a -0.25% fall.The final numbers are showing:Dow industrial average +13.11 points or 0.04% at 33997.64S&P down 0.41 points or -0.01% at 4373.21NASDAQ index -34.25 points...