Boris Vujcic is governor of the Croatian National Bank and thus a member of the European Central Bank Governing Council.Vujcic spoke in Marrakech, Morocco, where the International Monetary Fund is holding its annual meetings.In brief:too soon to declare victory over...
UK data – RICS house price balance drops to -69 in September (vs. -63 expected)
UK RICS house price balance -69 in September -63 expected and prior -68Not a GBP mover. -Royal Institution of Chartered Surveyors (RICS) house price balance measures the difference between the percentage of surveyors seeing rises and falls in house prices.MoneyMaker...
Goldman Sachs says the risk for US yield is skewed to the downside
Goldman Sachs US bond view, analysts say that yield on the 10 year are 'meaningfully' above their estimate of fair value and risks are skewed to the dowside.GS say they expect the US economy to falter in Q4, saying they are expecting a "growth pothole" in that...
Barclays sees scope for stock earnings risks “titled to the downside”
Comments from Barclays analysts on equities, a cautious tone.In brief:A more mixed Q3 economy means results should be more mixed too. They could still be enough to help stabilize the market post pull-back, but misses are likely to be punished as lofty ’24 estimates...
PIMCO says bullish longer term bonds (12 month horizon), cites peaking inflation
PIMCO said it was bullish on the performance of long-term bonds:continue to favour long-term bonds over the next year, as they provide high yields not seen for over a decade while offering a cushion against economic uncertainty and expectations inflation has...
US Treasury Secretary Yellen will meet with People’s Bank of China Governor Pan Gongsheng
US Treasury Secretary Janet Yellen said she plans to meet with PBOC Governor Pan Gongsheng while the two are attending meetings in Morocco:The meeting with Pan will take place on the sidelines of the International Monetary Fund and World Bank annual gathering in...
New Zealand food prices fall in m/m September: FPI -0.4% m/m
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 Collins says the Federal Reserve will factor in ‘unrest in the Middle East’
Federal Reserve Bank of Boston President Susan Collins spoke earlier. In a nutshell said that while the odds of the economy escaping a recession have grown, it’s possible the central bank is not done with interest rate hikes aimed at bringing inflation back to its...
RBNZ Gov. Orr says OCR will need to stay at restrictive levels for the foreseeable future
Reserve Bank of New Zealand Governor Orr:Official Cash Rate (OCR) from 2% to 5.5% ... the most rapid increase in the Reserve Bank’s history ... the effects of this are flowing through as anticipated to our economyOCR will need to stay at restrictive levels for the...
Russia has reimposed various capital controls to try to stem the ruble’s slide
Remember all the dedollarization hype? I hope y'all didn't plunge your savings into yuan and ruble. Speaking of plunge, its been pretty much one-way traffic for the PutinDollar:The Kremlin has moved to try to stem the losses for the currency. announced that 43 of the...
FOMC: Restrictive Policy for Some Time
USDIndex on Wednesday [11/10] fell -0.04% and recorded a 2-week low, while declining bond yields on Wednesday weakened the dollar as the yield on 10-year T-notes also fell to a 2-week low. In addition, the strength of stocks limited liquidity demand for the dollar....
Forexlive Americas FX news wrap 11 Oct: FOMC minutes show time to shift started to steady
The USD is closing today mixed. US stocks moved higher for the 4th consecutive day led by the NASDAQ once again . US yields moved lower out the curve.Near the start of the US trading day, the US PPI data was released and came in stronger than expectedData highlights...
Fed’s Collins says FOMC is at or near the peak of the rate hike cycle
Federal Reserve Bank of Boston President Susan Collins gives 2023 Goldman Lecture in Economics, "Reflections on Policymaking Amidst (Pandemic) Uncertainty".Headlines via Reuters: Fed is at or near peak of rate hike cycleFurther rate hike could be warranted depending...
Private oil survey data shows a huge headline crude, order of magnitude more than expected
The inventory data from the private survey is out now, official data follows Wed. morning (US time).more to come--Expectations I had seen centred on:Headline crude +0.5mn barrelsDistillates -0.8 mn bblsGasoline -0.8 mn--This data point is from a privately-conducted...
Major US stock indices close higher for the 4th consecutive day
The US major indices are all closing higher with the NASDAQ index leading the way once again. The indices are all up for the 4th consecutive day. Technically, the tech-heavy NASDAQ index moved back above its 100/50 day MAs. The 100-day moving averages at 13602.23. The...
Economic calendar in Asia 12 October 2023
Lower tier data releases only, Asia FX will be content to wait for US CPI data due at 8.30 am US Eastern time on Thursday, 12 October.This snapshot from the ForexLive economic data calendar, access it here.The times in the left-most column are GMT.The numbers in the...
Trade ideas thread – Thursday, 12 October 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,...
What are the stakes for Thursday’s US CPI report?
The highlight of the week on the US economic calendar is Thursday's consumer price index report.Importantly, this report is the anniversary of the September 2022 CPI report and that one marked the bottom of the Nasdaq. On that day, the US reported a hotter CPI report...
WTI crude oil futures settle at $83.49
The price of WTI crude futures are settling at $83.49. That's down $-2.48 or -2.88%. The low price today reached $83.17. The high price was at $86.48.Crude all tests key swing areaTechnically looking at the daily chart above, the price moved back into a key swing area...
AUDUSD moves toward the neutral technical area
AUDUSD moves to the high of the neutral technical areaThe AUDUSD has traded to a new low and in the process has moved to the high of a neutral area with the:200-hour moving average of 0.6373 at the low (green line in the chart above), and the 100-hour moving average...