In particular, I'd keep an eye out on EUR/GBP as the pair threatens a push past its 100-day moving average (red line) especially with rate hike odds firming up for the ECB going into tomorrow:EUR/GBP daily chartThe data here highlights the biggest monthly UK GDP...
USDCHF Technical Analysis – Key support in sight
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.Inflation measures since then showed further disinflation. The labour market displayed...
UK July monthly GDP -0.5% vs -0.2% m/m expected
Prior +0.5%GDP +0.2% vs +0.3% 3m/3m expectedPrior +0.2%That's a rough one as the summer hit to UK economic activity looks to be harder than anticipated. Looking at the breakdown:Services -0.5% m/mIndustrial output -0.7% m/mManufacturing output -0.8% m/mConstruction...
PBOC says will support prices to rise moderately
Will pay close attention to the effect of financial policiesWill strengthen guidance of expectationsThese are just some token remarks. The good news for China is that the latest inflation numbers were no longer negative as seen here. But then again, it is China data...
Putin does not rule out military cooperation with North Korea amid Kim Jong Un’s visit
When asked about Russia helping to build satellites for North Korea, Putin says that "that is why we've come to the Vostochny Cosmodrome". Adding that "we will discuss all issues and topics" and that "Kim is showing a big interest in Russian rocket equipment".Coming...
What’s priced in for the Fed outlook ahead of the CPI data today?
The evolution of the Fed funds futures curve over the past month pretty much details that:The US CPI report today will do little to shift the outlook for the remaining FOMC meeting decisions this year. However, it will play a role in determining the market confidence...
Japan’s Matsuno confirms he will remain as chief Cabinet secretary after the reshuffle
Finance minister, Shunichi Suzuki, will also remain in his post while the economy minister post will go to former internal affairs minister, Yoshitaka Shindo. Trade minister, Yatsutoshi Nishimura, is also to remain in his respective post. In essence, there isn't much...
ForexLive Asia-Pacific FX news wrap: USD stronger, but beaten by yuan, EUR
Deel revises its Terms of Service, has cut off some trading sites from paymentsNorth Korea appears to have fired a ballistic missileDeutsche Bank says monetary policy impact transmitting more rapidly in Europe than the USHere's a "cheat sheet" for the European Central...
Deel revises its Terms of Service, has cut off some trading sites from payments
Getting ungated info on this is difficult. From what I have found, Deel has halted payments from several, not all, Prop firms. Deel has temporarily stopped processing payments for many prop firms, even the ones not based in the US or Canada.Deel is a payment...
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North Korea appears to have fired a ballistic missile
South Korean and Japanese authorities with the info that Noth Korea has fired a ballistic missile toward East SeaSouth Korean military, Japanese Defence Ministry and Coast Guard with statements.more to comeMeanwhile, these two partners in crime are meeting in...
Deutsche Bank says monetary policy impact transmitting more rapidly in Europe than the US
Via Seeking Alpha, this from Deutsche Bank. believes monetary policy might be transmitting more rapidly in Europe than in the U.S. "Around 70% of Eurozone business debt is bank based and therefore far more likely to be variable rate, vs. only c.25% in the U.S. U.S....
Here’s a “cheat sheet” for the European Central Bank meeting – scenarios & how to position
This is the regular cheat sheet that ING issue for ECB meetings - a great summary and very handy!ING think the Bank will hike by 25bp:we suspect that convincing markets that this is not the peak will be very hard, and dovish dissenters may get in the way. The upside...
Market is pricing the BOJ to end negative rates in January 2024, a massive shift
Via Bloomberg (gated) on the big shift in market pricing since Ueda's comments reported over the weekend (ICYMI: ForexLive Asia-Pacific FX news wrap: Ueda comments send USD/JPY plunging)Bloomberg:Most economists say regardless of timing, the next change for YCC will...
USD/JPY higher on the session – BOJ buying JGBs again, yield on 10yr down to 0.7%
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,...
Beijing scrapped a rule limiting prices of pre-owned homes in popular district
South China Morning Post with the report today:Authorities in Beijing have scrapped a rule that limited the listing of prices of pre-owned homes in Haidian district, a move intended to boost demand and prop up the country’s slumping property market. In Haidian, a...
PBOC sets USD/ CNY reference rate for today at 7.1894 (vs. estimate at 7.2783)
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...
Goldman Sachs on 3 developments that will slow US growth to a crawl in Q4 2023, just 1.3%
Goldman Sachs with a very subdued outlook for US economic growth into the end of the year, this in summary:Three developments are set to temporarily slow growth:resumption of student loan paymentsthe federal government looks more likely than not to temporarily shut...
PBOC is expected to set the USD/CNY reference rate at 7.2783 – 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...
Coindesk says the CEO of Binance US has left the firm, one third of workforce has been cut
Binance.US CEO Brian Shroder has left the crypto exchangeThe company has eliminated one-third of its workforce.Coinbase citing a spokesperson for the firm. Binance hold themselves up as being on the side of the little guy, not like establishment firms. But, they still...