There aren't any major expiries to take note of for the day. As such, trading sentiment will be fixated on the headlines from over the weekend - in which the most significant being BOJ governor Ueda's. That has helped the yen to surge higher today and the unwinding of...
Russell 2000 Technical Analysis – Key support in sight
Last week the US data surprised to the upside with the ISM Services PMI and Jobless Claims beating expectations by a big margin. The market didn't like the strong data as it raises the chances of another rate hike in November. In fact, the Russell 2000 sold off...
China August M2 money supply +10.6% vs +10.7% y/y expected
Prior +10.7%New yuan loans ¥1.36 trillion vs ¥1.20 trillion expectedPrior ¥345.9 billionThe data set here is released much earlier than its usual timing as it seems like Chinese authorities want to keep pushing out the good news to bolster the yuan currency. New loans...
Yuan exchange rate has solid basis to stay reasonably stable – PBOC
Yuan exchange rate has solid basis to stay reasonably stable at balanced levelsReaffirms pledge to take action to correct one-sided and pro-cyclical activitiesWill resolutely fend off currency overshooting risksWill resolutely prevent speculation or incite clients to...
Japanese yen surge on Ueda remarks the big story to start the new week
USD/JPY is down 0.9% or a little over 130 pips on the day, to around 146.40 levels currently. It comes after a marked gap lower in the pair following BOJ governor Ueda's remarks on a "stealth exit" from the current ultra easy monetary policy. In the big picture...
ForexLive Asia-Pacific FX news wrap: Ueda comments send USD/JPY plunging
Ueda drove USD/JPY to its biggest daily loss here in 2 months:Other: Bank of Japan Governor Ueda gave an interview with Yomiuri last week. The media group published comments from the interview over the weekend. In a nutshell, Ueda said that he thinks its possible that...
USD/JPY extending its earlier Ueda-led drop
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,...
Bank of England’s Chief Economist Pill, and MPC member Mann, are speaking Monday
The Bank of England meets next week, on the 21st. A rate hike is no longer a lock. What officials like these two have to say shuldprovide clues. Bank of England Chief Economist Huw Pill is a panellist at the Kent Invicta Chamber of Commercecoming up at 0800 GMT, which...
Ex-Goldman Sachs Cohen says tailwinds for US economy weakening, recession risk higher
Abby Joseph Cohen is a former chief U.S. strategist at Goldman Sachs. Spoke with CNBC on Friday on her concerns for the US economy ahead, saying that she views the likelihood of an economic downturn rising in recent months:"The tailwinds, quite frankly, have gotten...
US and Iran agree to swap some detainees
Via Reuters:When $6 billion of unfrozen Iranian funds are wired to banks in Qatar as early as next week, it will trigger a carefully choreographed sequence that will see as many as five detained U.S. dual nationals leave Iran and a similar number of Iranian prisoners...
PBOC sets USD/ CNY mid-point today at 7.2148 (vs. estimate at 7.3437)
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...
China Securities Daily cite analysts – yuan downside is limited with recovering economy
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,...
Australian worker strikes continues to trim LNG output
On Friday we had strikes hit Chevron's LNG facilities of Gorgon and Wheatstone:The two plants account for around 5% of global LNG supply.Chevron has said today it would ask Australia's industrial relations tribunal to intervene to halt strike action.Details of the...
A Kremlin economic adviser says the weakening of the rouble has peaked (yes, really)
Russian media, Interfax, with the headline, conveyed by Reuters. The working is a bit haywire but I think the adviser means that the ruble's weakening has passed its worst. A glance at the chart of USD/RUB shows that probably happened in March of 2022. But maybe the...
PBOC is expected to set the USD/CNY reference rate at 7.3437 – 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...
The yield on Japan’s 10 year JGB has risen to its highest since 2014 at 0.685%
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,...
MUFG looking for EUR/USD to 1.05
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,...
China state-backed financial media commentary piece says more RRR cuts to come
The People's Bank of China-backed (and hence Chinese Communist Party-backed) China Securities Journal has an opinion piece today, citing analysts as saying the PBoC is expected to continue to cut the RRR rate. The Reserve Requirement Ratio (RRR) is a central bank...
USD/JPY beginning to fill the BOJ Governor Ueda ‘exit’ gap
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,...
WSJ Fed insider says “An Important Shift in Fed Officials’ Rate Stance Is Under Way”
Nick Timiraos is acknowledged as an 'insider' when it comes to the Federal Reserve's Federal Open Market Committee (FOMC). He writes the Fed is likely to pause rate increases in September, then take a harder look at whether more are needed.Some officials still prefer...