RBNZ Monetary Policy Statement Feb 2023
RBNZ Monetary Policy Statement Feb 2023 The Reserve Bank raised the official Cash Rate by 50 basis points to 4.75%, and maintained its projection of a 5.5% peak in the coming months. There was almost no change to the projected OCR track compared to the November policy statement. The OCR is still expected to peak […]
European Flash PMI’s and Canada Inflation Report
European Flash PMI’s and Canada Inflation Report Australia’s ASX 200 index fell by -12.7 points and currently trades at 7,338.80 Japan’s Nikkei 225 index has fallen by -37.31 points and currently trades at 27,494.63 Hong Kong’s Hang Seng index has fallen by -207.23 points and currently trades at 20,679.73 China’s A50 Index has fallen by […]
EUR/USD Recovery Attempt Could Face Hurdles
EUR/USD Recovery Attempt Could Face Hurdles EUR/USD traded as low as 1.0612 and is currently correcting losses. A key bearish trend line is forming with resistance near 1.0685. GBP/USD is struggling below the 1.2120 resistance zone. Gold price is attempting an upside break above the $1,840 resistance. The Euro remained in a bearish zone below […]
Powell Continues to be “Less Hawkish”
Powell Continues to be “Less Hawkish” Fed Chairman Powell continued with his less hawkish commentary today. He started by noting once again that the disinflationary process has started, but it will be bumpy. He also noted that it will be a long process. As a result, the US Dollar initially sold off while stocks moved […]
25bp Hawkish Hike from the RBA
25bp Hawkish Hike from the RBA The RBA hiked the cash rate target by 25 basis points to 3.35% Underlying inflation was above expectations to 6.9% Strong domestic demand is adding to the inflationary pressures CPI is expected to decline this year due to global factors and slower growth in domestic demand Medium-term inflation expectations […]
RBA Expected to Hike by 25bps
RBA Expected to Hike by 25bps The RBA are expected to rise interest rates by 25 bp to 3.35% tomorrow, which would take rates to their highest level since September 2012. If so, it would be their fourth consecutive 25bp hike and ninth back-to-back hike this cycle – which is their most aggressive in history. […]
GBP/USD: Pound Counts on the Best.
GBP/USD: Pound Counts on the Best. As in the US, retail sales in the UK also went down. They fell -1.0% in December, which is significantly lower than the forecast +0.5%. Analysts note that real spending in the country was significantly ahead of GDP in 2020-2022, but the rise in inflation led to a sharp […]
Gold & silver Struggle Despite Weak US dollar
Gold & silver Struggle Despite Weak US dollar Gold came off its earlier highs while silver turned a touch lower in what has been a quietish day. The US dollar fell further lower, extending it sharp losses from Friday when weak ISM data raised speculation that the Fed will be forced to cut interest rates […]
Decent US Data ahead of Payrolls | Xtreamforex
Decent US Data ahead of Payrolls | Xtreamforex Today brings this week’s most important data releases both from the Euro area and the US. In Euro area, flash inflation print for December will be released. Individual country data released thus far suggest that while headline inflation probably continued to decline in December, underlying price pressures […]
Upcoming Market Updates: JPY, AUD, EUR, CHF, GBP, CAD, USD, NZD
[vc_row full_width=”stretch_row”][vc_column][vc_column_text] Upcoming Market Updates: JPY, AUD, EUR, CHF, GBP, CAD, USD, NZD JPY: Trade Balance, it measures Difference in value between imported and exported goods during the reported month. AUD: MI Inflation Expectations, it measures Percentage that consumers expect the price of goods and services to change during the next 12 months. AUD: Employment […]
Bank of England’s Monetary Policy Committee Preview
Bank of England’s Monetary Policy Committee Preview The Bank of England’s Monetary Policy Committee will meet tomorrow to decide on interest rates. The MPC meeting will be sandwiched between FOMC rate decision that will have taken place today, and the ECB rate decision that would follow an hour and a bit later. The GBP/USD, EUR/GBP […]
The Australian Q3 GDP Economy | Xtreamforex
The Australian Q3 GDP Economy | Xtreamforex Australian economy expands by 0.6%, a little softer than expected. The impacts of high inflation and higher interest rates are becoming apparent – notably, the real estate sector on lower turnover subtracted 0.2ppts from activity in the period. The Australian economy expanded by 0.6% in the September quarter. […]
Consensus is for the RBA to hike by 25bp tomorrow
Consensus is for the RBA to hike by 25bp tomorrow What has happened since the last RBA meeting:- 10th November: Australia’s Central Bank says nearer to point when it can wait on rates. CPI fell to 6.9% y/y, down from 7.4% and beneath the 7.5% – suggesting inflation has peaked. Governor Lowe reiterated his belief […]
Australian inflation fell but just ‘weight’ a minute
Australian inflation fell but just ‘weight’ a minute Australian inflation rose only to 6.9% y/y, down from a peak of 7.4% and lower than the 7.5% expected. Housing, food and non-alcoholic beverages and transport were most significant contributors. CPI rose 0.2% m/m, below its long-term average of 2.5%. The RBA will be happy to hear […]
This week’s currency pair, USD/CNH
This week’s currency pair, USD/CNH This week will bring a lot of US macroeconomic data and speech from US Fed Chairman Powell, which should give the markets a clearer direction of where the Fed may be headed next regarding monetary policy. Powell speaks at the Brookings Institute on Wednesday. The topic is the economy and […]
Growing unrest in China Setting the Stage for a Risk-off Start
Growing unrest in China Setting the Stage for a Risk-off Start US and European bond markets showed a divergent picture as US markets reopened after the Thanksgiving Holiday. US Treasuries continued to outperform. A disappointing US PMI released earlier last week only reinforced the view that there is a strong enough case for the Fed […]
Upcoming Market Updates: AUD, EUR, GBP, CAD, USD
[vc_row full_width=”stretch_row”][vc_column][vc_column_text] Upcoming Market Updates: AUD, EUR, GBP, CAD, USD AUD: Retail Sales m/m, it measures Change in the total value of sales at the retail level. EUR: M3 Money Supply y/y, it measures Change in the total quantity of domestic currency in circulation and deposited in banks. EUR: Private Loans y/y, it measures Change […]
EUR/JPY Eyes Breakout – Xtreamforex
EUR/JPY Eyes Breakout – Xtreamforex The US out on holiday, there’s not much point in discussing the dollar. Instead, something that could move during the Asian hours. The Japanese yen. After being the weakest of major currencies for an extended period this year, the yen has stormed back against the dollar, along with equities, gold […]