Adam had the news on Thursday:I posted yesterday on what's coming up from Saudi Arabia next week:ANZ on further cuts:Crude oil prices rose amid a broad risk-on tone across markets. However, news that Russia agreed further OPEC+ cuts amplified the move. Deputy Prime...
Federal Reserve officials speaking Friday include Bostic and Mester
At 1000 GMT, which is 0600 US Eastern time: Federal Reserve Bank of Atlanta President Raphael Bostic participates in a panel discussion at the South African Reserve Bank's Biennial Research Conference with SARB governor Lesetja Kganyago, IMF first deputy managing...
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China data: Caixin/S&P Global August 2023 Manufacturing PMI: 51.0 (expected 49.3)
Caixin/S&P Global August 2023 Manufacturing PMIexpected 49.3, prior 49.2A good beat and encouraging news from China. Yesterday ... The official PMIs from China:---China has two primary Purchasing Managers' Index (PMI) surveys - the official PMI released by the...
Australian data: July home loans -1.9% m/m (expected -1.0%)
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,...
AUD, NZD, JPY all higher following the PBoC FX RRR cut, the first since September 2022
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,...
PBOC sets USD/ CNY reference rate for today at 7.1788 (vs. estimate at 7.2967)
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...
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People’s Bank of China to cut FX RRR from 6% to 4% from September 15
People's Bank of China said it will cut the amount of foreign exchange reserves that financial institutions must hold, a move seen as aimed at slowing the yuan's recent depreciation.PBoC to lower its FX Reserve Requirement Ratio by 200 basis points (bps) to 4% from...
UBS forecasts the S&P 500 to 5200 if AI proves to be a game changer (& 2 other factors)
Equity analysts at UBS have raised their June 2024 price forecasts for the S&P 500 benchmark index to 4700 citing an expectation that earnings growth will gather pace in 2024:expects S&P 500 EPS of $220 (0% YoY, +4% YoY ex-energy) for 2023 and $240 (+9% YoY)...
Japan Jibun final August PMI: Manufacturing 49.6 (prior 49.6)
Japan S&P Global / Jibun Bank final Manufacturing PMI for August 2023.Flash reading here:Published at the same time were the data for South Korea's August Manufacturing PMI, also in contraction at 48.9, from 49.4 in July.---USD/JPY is up 20 odd points during...
Forecast for the European Central Bank to pause hiking in September
European Central Bank minutes were published Thursday:Nordea's assessment remains that the Bank has finished hiking rates;The monetary policy account from the ECB’s July meeting did not offer much guidance on what the ECB would do at its September meeting"The activity...
PBOC is expected to set the USD/CNY reference rate at 7.2967 – 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...
South Korea August exports dropped 8.4% y/y, imports down also
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,...
Further rate cuts in China – Bank of China cuts yuan deposit rates
Central Banks <!--> --> <!--> --> <!--> Banks in China are cutting rates, this from earlier:More from China overnight: ADVERTISEMENT - CONTINUE READING BELOW --> Tags <!--> ADVERTISEMENT - CONTINUE READING BELOW --> Most Popular...
Japan data: Q2 Corporate Capital spending +4.5% y/y (vs. expected +5.4%)
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,...
Goldman Sachs now expect only a 20% chance of a US recession in the next 12 months
Goldman Sachs preface their expectation with "We see a below-consensus" ...GS have been consistently below consensus with this expectation. We see a below-consensus 20% probability of entering a recession over the next year as we think taming inflation will not...
Australia Manufacturing PMI final for August: 49.6 (prior 49.6) & strongest since February
The preliminary for the Judo Bank / S&P Global Manufacturing PMI can be found here:From the report today: “The PMI index, which incorporates a range of sub-indexes to capture the cyclical position of the manufacturing sector was unchanged at 49.6 in August, the...
The Hong Kong exchange opening has been delayed due to approaching super typhoon
We had the heads up on this likelihood of this yesterday:From HK:Hong Kong Exchanges and Clearing Limted (HKEX) announces that morning trading in its securities market today (Friday), including Stock Connect Northbound trading and derivatives market, has been delayed...
JP Morgan revise their Q3 US real GDP forecast to 3.5% (from 2.5%)
JP Morgan have lifted their economic growth projection based on a 'strong start for consumer'. Citing (in summary):The main details of the July personal income and spending report came out pretty close to our expectations. Real consumption jumped 0.6% in July, nominal...