Author: FX

Standard Chartered economists Jonathan Koh and Edward Lee revise their Bangko Sentral ng Pilipinas (BSP) policy rate path, dropping expectations for a 50bps off-cycle hike before the 18 June meeting. They still project a 50bps increase in June and 25bps in August as inflation risks persist and PHP weakness raises imported inflation concerns. Policy easing is only expected from Q2-2027.BSP path revised but still hawkish”We no longer expect Bangko Sentral ng Pilipinas (BSP) to deliver a 50bps off-cycle rate hike ahead of its scheduled 18 June monetary policy meeting.””That said, we maintain our call for a 50bps hike at the…

DBS Group Research economist Radhika Rao highlights that Indonesia’s onshore markets are under pressure, with the Rupiah at record lows and equities near six‑year lows. She notes that Bank Indonesia’s mandate will be broadened to include the real sector, while fiscal and oil‑related pressures build. Despite the expanded mandate, DBS expects monetary policy to stay focused on financial market stability and further rate tightening.Rupiah weakness and BI mandate shift”Indonesia’s onshore asset markets have been under pressure, with the IDR depreciating to an all-time low past 18000/USD (down ~7.5% ytd) and the benchmark equity index at a near six-year low.””Without fuel…

The US Dollar (USD) rallied to near 100.10 on Friday, rising from a daily low of 99.16, after the US Nonfarm Payrolls (NFP) report showed the economy added 172K jobs in May, well above the 85K expected, reinforcing expectations that the Federal Reserve (Fed) could raise interest rates later this year. The US Unemployment Rate held at 4.3%, while wage growth eased to 3.4%, suggesting a resilient labor market with softer pay pressure. US Dollar Price Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the…

NFL-Chicago Bears take step toward building stadium in Indiana Source link

With an hour to go in Friday’s regular market, the NASDAQ 100 (NDX) is facing its worst sell-off since US President Donald Trump’s tariff announcement in April 2025. The NASDAQ 100, which holds the 100 largest non-financial stocks, has jettisoned its strong two-month rally. The index is down 3.87%, its worst sell-off since April 4, 2025, when Trump’s tariff announcement led to a 6.07% single-day drop.The culprit was the positive jobs report, which, before the market opened, showed new hiring in May reached 172K, well above the 85K forecast. An improving jobs picture in the US means that the Federal…

The NASDAQ is now down more than 1,000 points, or -3.84%, at 25,801, with the session low reaching 25,753.93. Selling pressure accelerated following reports that Microsoft may look to tap the equity markets to help fund its expanding AI infrastructure investments, a development that has weighed on both the stock and the broader technology sector.From a technical perspective, the decline has pushed the index below both its 100-hour and 200-hour moving averages, increasing the bearish bias in the short term. The next key support target comes at the 50% retracement of the rally from the April 21 consolidation low, which…

UOB’s Global Economics & Markets Research, led by Enrico Tanuwidjaja and Sathit Talaengsatya, argues that Thailand’s latest Consumer Price Index (CPI) data confirm a cost-push rather than demand-led inflation backdrop. They keep headline inflation forecasts at 1.4% for 2026 and 1.2% for 2027 and expect the BoT to maintain the 1-day repo rate at 1.00% through 2026 and 2027.Cost-push inflation supports steady BOT stance”That said, while noting the upside risks, we maintain our projection for headline inflation at 1.4% for 2026 and 1.2% for 2027, and our call for BoT to keep the policy rate at 1.00% through end-2026 and…

Coming off the back of Google’s record $85 billion equity share sale this week, Meta is now considering raising tens of billions of dollars in the equity markets as it looks to expand its move into AIThe stock has moved from $610 to a new low of the day of $581.58. The price currently trades at $586.56 down $41 or -6.56%. Shares are down -11.04% in 2026 after rising by a modest 12.74% last year (relatively speaking. The NASDAQ rose by 20%).A few additional points:Meta generates enormous cash flow from Facebook, Instagram, WhatsApp, and advertising operations, so it is not…

NZD/USD slips to its lowest level since April on Friday as the US Dollar (USD) receives fresh bids in the wake of solid US Nonfarm Payrolls (NFP) data. At the time of writing, the pair trades around 0.5800 and is heading for a weekly loss of nearly 3%.The US economy added 172K jobs in May, well above market expectations of 85K. April’s payroll figures were revised higher to 179K from 115K, while the Unemployment Rate held steady at 4.3%.Following the data, the US Dollar climbed to a two-month high as stronger-than-expected labor market data reinforced expectations that the Federal Reserve…

Will leave interest rate decision to WarshWould like to see lower interest ratesSays the country is doing well, market should go upHe would not mind if Warsh were to cut interest rates. Will leave rate cut to Warsh during October meeting. What is curious is his response that will leave rate cut to Warsh but cites the October meeting. He seems to be giving in for the June, July, September meetings.On Iran and oil prices says:Having great success with Iran, and Iran is in no position to have a nuclear weapon.Has about energy prices, says that they have many optionsMore:Meeting…