Author: FX
There have been plenty of stimulus announcments from China last week:And more are expected to come:On Tuesday, 20 June 2023 we get the next policy move from the People’s Bank of China, an expected cut to LPRs. Currently LPR rates are: 3.65% for the one year 4.30% for the five yearING are looking for cuts to both:Loan prime rates in China are set to track the recent cut from the People’s Bank of China (PBoC). Thus, we are looking for the 1Y loan prime rate to fall to 3.55% (from 3.65%) and the 5Y loan prime rate to settle at…
We’ve got another round of central bank decisions lined up, plus a fresh batch of PMI readings before the end of the week. What are traders expecting for the BOE and SNB monetary policy statements? Before all that, ICYMI, I’ve written a quick recap of the market themes that pushed currency pairs around last week. Check it! And now for the closely-watched economic indicators on the calendar this week: U.K. CPI report Before BOE Governor Bailey and his fellow policymakers take the stage, the U.K. economy will be printing its May CPI figures on Wednesday, June 21 6:00 am GMT.…
Share: USD/CAD renews intraday high as it recovers from yearly low during Juneteenth holiday-inspired sluggish trading. Oil Price drops amid fears of less demand from China. US Dollar justifies hawkish Fed talks, ignores mixed US data to extend Friday’s corrective bounce. Fed Chair Powell’s Testimony, preliminary PMIs for June appear crucial for clear directions during holiday-shortened week. USD/CAD picks up bids to consolidate the recent losses around the yearly low, refreshing the intraday top near 1.3215 amid early Monday. In doing so, the Loonie pair snaps a two-day downtrend while justifying the broad US Dollar recovery, as well…
Recommended by IG Traits of Successful Traders With the conclusion of the recent Federal Open Market Committee (FOMC) meeting, a series of hawkish Fedspeak is lined up on the horizon. We have a glimpse from Fed Governor Christopher Waller and Richmond Fed President Thomas Barkin last Friday, with persistent core inflation still at the top of their minds and that more tightening may need to be done.Nevertheless, market participants continue to have their doubts, with interest rate futures firmly in the camp that the Fed will head towards its final phase of tightening with one last 25 basis-point (bp) move…
While the Arbitrum governance token ARB has been in a consistent downturn since the airdrop in late March, its ecosystem shows healthy growth. A recent Nansen report shows that Arbitrum’s activity improved after the airdrop, stabilizing “at a level higher” than before the airdrop. The daily active users, gas fees and transaction count have maintained consistently higher levels since April 2023. Daily active users of Arbitrum, and Optimism (past 6 months). Source: NansenThe trading volume of DEXs on Arbitrum. Source: DefiLlamaFunds (purple) and smart wallets (green) are still holding ARB. Source: NansenFunding rate across the perpetual swap markets. Source: CoinGlassARB/USDT…
China’s State Council met on Friday. Premier Li Qiang chaired the meeting. In a statement after, said:the Council considered a batch of macroeconomic policies designed to expand “effective demand”, strengthen the real economy and defuse risks in key areas:”it is imperative to introduce policies that are more powerful”“Policies that meet the necessary conditions should be promptly unveiled and implemented without delay,”The statement was light on details though – there were none. Info via China media outlets. Source link
SPDR S&P MIDCAP 400 ETF Trust declares quarterly distribution of $1.5133 Source link
5/5 © Reuters. FILE PHOTO: Prospective students tour the University of California, Berkeley campus before beginning of the new semester, in Berkeley, California, U.S., June 8, 2023. REUTERS/Carlos Barria/File Photo 2/5 By Sharon Bernstein BERKELEY, California (Reuters) – In the 25 years since California voters banned all consideration of race in college admissions, the state has spent more than $500 million to help create diverse student bodies across the University of California system – with some success. Yet in classes at the University of California at Berkeley, philosophy major James Bennett, who is Black and Filipino, sees almost no one…
Recommended by Manish Jaradi The Fundamentals of Trend Trading Global equity markets rose to a 14-month high while the US dollar fell to a one-month low on hopes that US interest rates are peaking and expectations of more stimulus from China.The MSCI All Country World index rose 0.6%, the S&P 500 index jumped 2.6%, and the Nasdaq 100 index surged 3.8%. The German DAX 40 advanced 2.5% and the UK FTSE 100 rose 1.0%. In Asia, the Hang Seng index rose 3.3%, while Japan’s Nikkei 225 soared 4.5%. Risk-sensitive currencies, including the Australian dollar and the New Zealand dollar, rose…
© Reuters. FILE PHOTO: A general view of the Nova Kakhovka dam that was breached in Kherson region, Ukraine June 6, 2023 in this screen grab taken from a video obtained by Reuters/via REUTERS /File Photo (Reuters) – The death toll from flooding following the destruction of the Kakhovka dam has risen to 16 in Ukraine, Kyiv officials said, while Russian officials said 29 people have died in territories that Moscow controls. The breaching of the Kakhovka Dam on June 6 unleashed floodwaters across a large swath of land in southern Ukraine and in Russia-occupied parts of Ukraine, destroying farmland…