Author: FX
AUDUSD, Daily Australia’s Monthly CPI indicator rose to 7.3% in the year to November, surpassing market forecasts of 7.2% y/y thus fuelling forecasts of further rate hikes in 2023. The most significant contributors to the rise came from housing (+9.6% y/y), food & non-alcoholic beverages (+9.4% y/y), transport (+9.0% y/y), furniture, household appliances & services (+8.4% y/y) and recreation & culture (+5.8% y/y). Source: https://www.abs.gov.au/ The inflation rate is a key factor considered by the RBA when deciding how soon and far to raise interest rates. The latest monthly data shows there are still ongoing inflationary pressures in the economy.…
© Reuters. FILE PHOTO: An employee arranges produce inside a Sainsbury?s supermarket in Richmond, west London, Britain, June 27, 2022. Picture taken June 27, 2022. REUTERS/Henry Nicholls/File Photo LONDON (Reuters) – Sainsbury’s, Britain’s second biggest supermarket group, forecast full year profit towards the upper end of its previously guided range as it reported a 5.9% rise in underlying sales for the Christmas quarter. The group, which has a 15.5% share of Britain’s grocery market, has previously forecast 2022-23 underlying pretax profit of between 630 million pounds and 690 million pounds ($767-$840 million). It made 730 million pounds in 2021-22. Source…
Major currencies are showing very little appetite on the day, with the dollar holding marginally weaker on the balance of things so far this week. There was some sense of caution yesterday as markets eyed remarks from Fed chair Powell but he didn’t deliver anything notable in the end.That allowed for stocks to recover some poise with the S&P 500 bouncing off its 100-day moving average to close 0.7% higher. That said, don’t expect broader markets to start running just yet. The US CPI data tomorrow remains the most important risk event to start the new year and that could…
Australian Dollar has picked strength as Chinese firms have resumed Australian coal imports. The USD Index has sensed sheer selling pressure after failing to surpass 103.00. Aussie has resumed its upside journey after sensing support around the demand zone plotted in a 0.6884-0.6896 range. The AUD/USD pair has overstepped its immediate resistance of 0.6917 in the early European session. The Aussie asset has picked strength amid selling pressure in the US Dollar Index (DXY) after the latter failed to surpass the immediate resistance of 103.00. The market mood is still quiet as S&P500 futures are marginally higher. Out of the…
Both Coinbase and EUR/JPY are seeing upswings this week! Will key resistance levels on the daily time frame limit the bulls’ hustle? See what’s up on their charts! Coinbase Global Inc. (COIN): Daily COIN Daily Equities Chart by TradingView First up is Coinbase Global Inc. (COIN), which just announced that it was laying off 20% of its staff. The stock was unbothered, though, as it extends its bounce from $32.00 to its current $43.00 prices. COIN buyers better watch out for the $46.00 handle that was a key support in mid-2022 and an area of interest in November to December.…
2/2 © Reuters. Patients receive IV drip treatment at a hospital, amid the coronavirus disease (COVID-19) outbreak, at a village in Tonglu county, Zhejiang province, China January 9, 2023. REUTERS/Staff 2/2 By Bernard Orr and Brenda Goh BEIJING (Reuters) – Chinese state media defended on Wednesday the retaliatory measures against South Korea and Japan over their COVID-19 travel curbs as “reasonable”, while Chinese tourists decried Seoul’s “insulting” treatment on social media. China re-opened its borders on Sunday after three years of isolation under the world’s strictest regime of COVID restrictions, which Beijing abruptly began dismantling in early December after historic…
The data from Australia today was for:ANZ on the retail sales data:Australia’s retail sales jumped 1.4% m/m in Nov, and Oct was revised up from -0.2% to +0.4%. A strong result, but weaker than growth in Nov 2020 (+6.1% m/m) & 2021 (+6.4% m/m). Signal also includes the “noise” that retail was likely a higher % of Nov spend.I don’t think a comparison with November ’20 and ’21 is valid given both of those months saw a surge in spending on exit from lockdowns (yes, lockdowns went on and on in Australia). ANZ on the jobs data:Job vacancies stayed very…
The People’s Bank of China (PBOC) is seen cutting the reserve requirement ratio (RRR) and the over-five-year Loan Prime Rate (LPR) further in 2023, “as authorities implement “accurate and forceful” monetary policy,” China Securities Journal reported, citing experts. Additional quotes “To support the real estate sector, cuts to the over-five-year LPR are likely, with Beijing conducting “targeted rate reduction” to help with the property sector recovery.“ “On the demand side, conditions for buyers will be promoted, such as lowering down payment ratios and reducing the interest rate of mortgage loans.“ “Stable economic growth and employment are the current primary focus…
© Reuters. FILE PHOTO: The Apple Inc logo is seen at the entrance to the Apple store in Brussels, Belgium November 28, 2022. REUTERS/Yves Herman (Reuters) – Apple Inc (NASDAQ:) is planning to start using its own custom displays in its mobile devices from 2024 onwards in an attempt to bring more components in-house, Bloomberg News reported on Tuesday, citing people with knowledge of the matter.Apple did not immediately respond to a Reuters’ request for comment. Source link
HJBC/iStock via Getty Images The U.S. Consumer Product Safety Commission is considering plans to regulate and possibly ban natural gas stoves, agency commissioner Richard Trumka Jr. told Bloomberg in an interview, citing pollutants which have been linked to childhood asthma and other respiratory problems. “Any option is on the table,” Trumka said, describing the pollutants as a “hidden hazard.” A recent study in the International Journal of Environmental Research and Public Health found that nearly 13% of current childhood asthma in the U.S. is attributable to the use of indoor gas stoves. Other studies have found gas stoves emit air…