Author: FX
© Reuters. A man holds an iPhone 14 as Apple Inc’s new models go on sale at an Apple store in Beijing, China, September 16, 2022. REUTERS/Thomas Peter/file photo (Reuters) -China has ordered officials at central government agencies to not use Apple (NASDAQ:)’s iPhones and other foreign-branded devices for work or bring them into the office, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The orders were given by superiors to their staff in recent weeks and it wasn’t clear how widely the orders were being distributed, the WSJ said. The ban comes ahead of…
Bringing inflation to 2% by the end of 2025 is the bare minimumRate hike is a possibility, not a certaintyHe touts the headline but then goes on to say that is is just merely a ‘possibility’. That’s no firm conviction that policymakers are leaning towards a rate hike and so far, their posturing and language isn’t really all too keen either. Currently, markets are just pricing in ~32% odds of a 25 bps rate hike for next week. Source link
The BOC decision is comin’ right up, so I’ve got my eye on this major resistance test on USD/CAD. Which way might it go next? Check out the inflection points I’m watching on multiple time frames! USD/CAD: Daily & 15-min USD/CAD Daily & 15-min Forex Charts by TV On the daily time frame (left side) above, you can see that the pair is hanging out at a long-term resistance level that’s been holding since May this year. This means that it would take a significant amount of dollar strength and Loonie weakness to spur a break above this strong ceiling.…
Share: USD/RUB loses momentum near 97.70 amid the rally in oil prices. Russia’s economic growth will be towards the top end of the 1.5%-2.5% expected range in 2023. Investors anticipate a 25 basis point (bps) rate increase from the Fed for the entire year, bringing rates to 5.75%. US ISM Services PMI data will be in the spotlight on Wednesday. USD/RUB loses ground below the 98.00 mark during the early European session on Wednesday. The pair currently trades around 97.70, up 0.79% on the day. Russian central bank deputy governor Alexei Zabotkin said on Tuesday that Russia’s economic…
GBP/CAD is making enough lower highs to make pound buyers think twice about extending its uptrend. Think we’ll see a breakout or a reversal anytime soon? The 4-hour chart may offer some clues: GBP/CAD 4-hour Forex Chart by TV If you’ve been watching GBP or CAD pairs, then you’ll know that GBP/CAD has been trading in an uptrend since early June after finding support from the 1.6650 area. The pair is currently trading closer to 1.7150, which is still above a trend line and 200 SMA support in the 4-hour time frame. But note that GBP/CAD has been registering lower…
Market Recap of clients are net long. of clients are net short. Change in Longs Shorts OI Daily 6% -1% 1% Weekly 5% 3% 4% US indices started the week on a more subdued tone, with a jump in oil prices to a new 10-month high not providing much reassurances for the global inflation outlook. This follows after major oil producers, Russia and Saudi Arabia, announced to extend voluntary oil cuts to the end of the year, which is a longer timeline than what was initially expected.The move seems set to widen the current deficit in the oil market further,…
Mario Tama/Getty Images News Kroger (NYSE:KR) is in talks with C&S Wholesalers to sell grocery stores in an effort to gain antitrust approval for its planned $24 billion purchase of Albertsons (NYSE:ACI). C&S Wholesalers, with backing from Japan’s Softbank Group (OTCPK:SFTBY), could announce a deal to buy grocery stores this week, according to a Bloomberg report on Tuesday, which cited people familiar with the matter. The supermarket chains said in October that they would spin off 100 to 375 stores if they couldn’t find buyers for them. According to the report, it’s not known how many stores C&S plans to…
© Reuters. FILE PHOTO: An office employee walks in front of the bank of Japan building in Tokyo, Japan, April 7, 2023. REUTERS/Androniki Christodoulou/File Photo By Leika Kihara TOKYO (Reuters) -Japan is seeing early signs of change in the public’s long-held perception that wages and inflation won’t rise much, central bank policymaker Hajime Takata said, suggesting conditions for phasing out the bank’s massive stimulus are falling into place. Takata stressed the need to maintain ultra-loose monetary policy for the time being, as slowing global growth heightens uncertainty on whether Japan can sustainably achieve the Bank of Japan’s (BOJ) 2% inflation…
Bank of Japan’s Takata:says Japan is seeing early signs of hitting 2% inflationsays Japan’s economy is recovering moderatelysays he believes that the Bank of Japan must patiently maintain easy monetary policy given the very high uncertainty on the outlookAt the same time, BOJ must respond nimbly to uncertainty with eye on economic, price outlook There’s a chance Japan will see shift in public perception prices and wages won’t rise muchJapan seeing signs of change in corporate wage, price-setting behaviourThere is sign of change in Japan’s trend inflation as rising wages push up inflation expectationsInflation is already exceeding BOJ’s 2% target…
Share: Australian GDP overview Reserve Bank of Australia’s (RBA) dovish halt and expectations of softer economic growth highlight Australia’s second-quarter (Q2) Gross Domestic Product (GDP) figures, up for publishing at 01:30 GMT on Wednesday, for the AUD/USD pair traders. The recent data from Australia portray a mixed picture as higher wages contrast with a reduction in company profits and softer productivity measures. With these statistics in mind, the Aussie Q2 GDP is likely to print mixed figures and could prod the AUD/USD bears. That said, forecasts suggest the annualized pace of economic growth to come in at 1.7%,…