Author: FX
USD/JPY retreats after touching its highest level since August 16 amid intervention fears. Reduced bets for more BoJ rate hikes and an oversized Fed rate cut should lend support. Any meaningful corrective slide could be seen as a buying opportunity and remain limited. The USD/JPY pair struggles to capitalize on a modest Asian session uptick or find acceptance above the 149.00 mark and retreats a few pips from its highest level since August 16 touched this Monday. Spot prices slide below mid-148.00s, or a fresh daily low in the last hour and for now, seem to have snapped a three-day…
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(Reuters) -Senior officials from China’s top economic planning agency will brief reporters on Tuesday on steps to implement policies to promote economic growth, the State Council Information Office said in a notice. It said five officials, including the chairman of the National Development and Reform Commission, Zheng Shanjie, would attend the news conference. The topic will be: “systematically implementing a package of incremental policies to solidly promote economic growth, structural optimisation and sustained momentum of development”. The statement gave no further details. Tuesday is the first working day in China after a run of holidays over the past week, including…
Just_Super Rio Tinto (NYSE:RIO) has approached lithium miner Arcadium Lithium (NYSE:ALTM) about a possible takeover, the companies said Monday. The companies issued separate statements on the approach, but neither disclosed any further detail. Each said there was “no certainty that any transaction will be Source link
An early update for USD/JPY, which caught another substantial bid after the blockbuster US jobs report on Froday:I had an outlook from Standard Chartered to post, analysts there were looking for 149 … and here we are. had expected a range of 140 – 149 for the coming monthFor the 6 – 12 month horizon ahead Stan Chart forecast a fall for USD/JPY to below 135. Analysts cite rate differentials as the driver. I can’t really see these as driving USD/JPY lower, US rates will remain well, well above Japanese rates over that time horizon (yeah, I know, famous last…
(Reuters) – Hurricane Milton is forecast to rapidly intensify during the next couple of days and become a major hurricane on Monday, the U.S. National Hurricane Center said on Sunday. Currently, about 290 miles (465 km) west-northwest of Progreso, Mexico, its maximum sustained winds have increased to near 80 mph (130 km/h), the Miami-based forecaster said. Milton is forecast to move north of the Yucatan Peninsula, across the Gulf of Mexico and approach the west coast of the Florida Peninsula by midweek, NHC added. Source link
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By Tarek Amara TUNIS (Reuters) -Tunisians voted on Sunday in an election in which President Kais Saied is seeking a second term, with his main rival suddenly jailed last month and most opponents imprisoned or barred from running. Sunday’s election pits Saied against two rivals: his former ally turned critic, Chaab Party leader Zouhair Maghzaoui, and Ayachi Zammel, who had been seen as posing a big threat to Saied until he was jailed last month. Tunisia had for years been hailed as the only relative success story of the 2011 “Arab spring” uprisings for introducing a competitive, though flawed, democracy…
This week our currency strategists focused on the Euro area CPI update and the U.S. Manufacturing PMI update for potential high-quality setups. Out of the four scenario/price outlook discussions this week, one discussion arguably saw both fundie & technical arguments triggered to become a potential candidate for a trade & risk management overlay. Check out our review on those discussions to see what happened! Watchlists are price outlook & strategy discussions supported by both fundamental & technical analysis, a crucial step towards creating a high quality discretionary trade idea before working on a risk & trade management plan. If you’d…
UPCOMING EVENTS:Monday: Eurozone Retail Sales. (China on holiday)Tuesday: Japan Average Cash Earnings, RBA Meeting Minutes, US NFIB Small Business Optimism Index.Wednesday: RBNZ Policy Decision, FOMC Meeting Minutes.Thursday: Japan PPI, ECB Meeting Minutes, US CPI, US Jobless Claims, New Zealand Manufacturing PMI.Friday: UK GDP, Canada Labour Market report, US PPI, US University of Michigan Consumer Sentiment, BoC Business Outlook Survey. TuesdayThe Japanese Average Cash Earnings Y/Y is expected at 3.1% vs. 3.6% prior. Wage growth has turned positive lately in Japan and that’s something the BoJ always wanted to see to meet their inflation target sustainably. The data shouldn’t change much…