Author: FX

© Reuters. FILE PHOTO: Japan’s vice minister of finance for international affairs, Masato Kanda, poses for a photograph during an interview with Reuters at the Finance Ministry in Tokyo, Japan January 31, 2022. Picture taken January 31, 2022. REUTERS/Issei Kato/Fil By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) -Japan will take appropriate steps against excessive moves in the yen “without ruling out any options”, Finance Minister Shunichi Suzuki said on Wednesday, keeping markets on alert over the chance of yen-buying intervention. Suzuki told reporters he would not comment on whether Tokyo intervened in the exchange rate market overnight to prop…

Market RecapThe significant upside surprise in US job opening numbers for August (9.61 million vs 8.8 million expected) prompted another negative session in Wall Street overnight, with a resilient labour market deemed to be providing more room for the Federal Reserve (Fed) to keep rates high for longer. US Treasury yields continued with their ascent, with the US 10-year yields at 4.8%. Aside, the VIX is at its four-month high, hovering just below its key 20 level – a general divide between more risk-on and risk-off territory.Ahead, the US Automatic Data Processing (ADP) private payrolls data and US services purchasing…

Reserve Bank of New Zealandmore to come Demand growth in the economy continues to ease.Committee agreed that the OCR needs to stay at a restrictive levelInterest rates are constraining economic activity and reducing inflationary pressure as requiredWhile GDP growth in the June quarter was stronger than anticipated, the growth outlook remains subdued.With monetary conditions remaining restrictive, spending growth is expected to decline furtherNear-term risk that activity and inflation do not slow as much as neededProlonged period of subdued activity is required to reduce inflationary pressureRBNZ Governor Orr—Background to this decision: Source link

Share: US Treasury Secretary Janet Yellen spoke on Tuesday at a Fortune CEO event in Washington, reiterated her view that the US would rather not economically decouple from China. Key quotes “The US has become overly dependent on China for critical supply chains, particularly in clean energy products and needs to broaden out sources of supply.”“The US does not want to decouple economically from China.”“US would face national security concerns without a robust semiconductor sector of its own.””We’re fooling ourselves if we think that abandoning, for all practical purposes, semiconductor manufacturing, is a smart strategy for the United…

SlavkoSereda/iStock via Getty Images Crude oil futures closed modestly higher Tuesday, a day after a three-session drop pulled prices to three-week lows in the wake of rising Treasury yields and a stronger U.S. dollar. Higher interest rates make storing and shipping crude more expensive, and the stronger dollar means crude is pricier for most buyers, which could eventually hurt demand. OPEC+ ministers will meet to review global markets on Wednesday, but the Joint Ministerial Monitoring Committee is not expected to recommend any policy changes. “The OPEC+ plan has been working,” as production cuts by Saudi Arabia and Russia have had…

Today, let’s dive into the price action on EUR/NZD as the action may heat up ahead of top tier catalysts. So, grab your favorite trading mug, settle into your trading chair, and let’s get started! EUR/NZD: 1-Hour EUR/NZD 1-Hour Forex Chart by TradingView First things first, let’s take a quick look back, and we can see that EUR/NZD has basically been on a downhill slide since it hit its peak back in mid-August tagging the 1.8450 mark. That’s quite a drop! But recently, EUR/NZD seems to have decided to put on its rally cap, picking itself up from the floor…

LifeWallet announces 1-for-25 reverse stock split Source link

AUD/USD OUTLOOKAUD/USD sinks to its lowest level since November 2022 as U.S. yields vault to fresh multi-year highs.This article looks at key technical levels worth watching in the coming days.IG client sentiment data points to further weakness for the Aussie. Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: USD/JPY Smacked Lower by Possible FX Intervention. Will the Bulls Reload?AUD/USD TECHNICAL ANALYSISAUD/USD fell sharply and sank to its lowest level in nearly a year on Tuesday, weighed down by soaring U.S. rates and risk-off sentiment…

© Reuters. FILE PHOTO: Qatar’s Emir Sheikh Tamim Bin Hamad Al-Thani addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 19, 2023. REUTERS/Mike Segar/File Photo CAIRO (Reuters) -U.S. President Joe Biden called Qatar’s Emir Sheikh Tamim bin Hamad al-Thani to thank him for Doha’s mediation that resulted in the release of a number of Americans from Iran, the Amiri Diwan said on Tuesday. “During the call, the strategic relations between the two countries and aspects of supporting and strengthening them in various fields were reviewed,” the Amiri Diwan, or Emir’s office, said in a…

Canada is about to drop its September labor market update! Will we get another surprise positive read or will expectations be met with a signal of a slowing employment environment. If you haven’t done your homework yet on the Loonie, here are the deets you gotta be familiar with before working on your risk management plan. Event in Focus: Canada’s August Employment Data: Employment Change, Unemployment Rate When Will it Be Released: October 6, 2023 (Friday) 12:30 pm GMT Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: Full time employment change: -15K vs.…