Author: FX
A report on a November survey by the UK’s main Manufacturers trade group, Make UK. Says the report:the proportion of manufacturers who think Britain is a competitive location halved to 31% from 63% a year ago 53% of firms said ongoing political instability had damaged business confidencetwo thirds of manufacturers expected to reduce headcount or cut output because of high energy costs—GBP GBP The Great British pound (GBP) or pound sterling is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, Gibraltar, South Georgia, and other pacific territories.The GBP is currently the fourth most-traded currency worldwide…
Will the Fed raise its rates by 50 bps next? Will the U.K. be one step closer to a technical recession? These are questions that scheduled data releases may answer for us this week! 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 potential market movers this week: Major Economic Events: U.S. inflation reports (Jan 12, 1:30 pm GMT) – After Friday’s jobs-related volatility, traders will be looking at Uncle Sam’s inflation numbers for clues on the Fed’s next policy decisions. Markets…
AUD/JPY clings to mild gains around three-week high. Australia Building Permits slumped in November, Tokyo markets are off for Coming-of-Age Day. China-linked headlines propel risk-on mood amid a sluggish start to the key week. Inflation numbers from US, China and Japan appears crucial for clear directions. AUD/JPY seesaws around the highest levels in three weeks as it makes rounds to 91.00 during Monday’s sluggish Asian session. In doing so, the cross-currency pair takes clues from the markets’ risk-on mood to grind higher. However, a holiday in Japan joins downbeat Aussie data and hawkish concerns from the Bank of Japan (BOJ)…
2/2 © Reuters. A woman walks past a building with Russian flags placed on its wall in Saint Petersburg, Russia April 24, 2022. REUTERS/Anton Vaganov 2/2 (Reuters) – Russia’s government extended support to a legislative amendment that would classify maps that dispute the country’s official “territorial integrity” as punishable extremist materials, the state-owned TASS news agency reported on Sunday. The amendment to Russia’s anti-extremism legislation stipulates that “cartographic and other documents and images that dispute the territorial integrity of Russia” will be classified as extremist materials, the agency reported. Russia’s sweepingly ambiguous anti-extremism legislation — it applies to religious organizations,…
China’s Securities Daily reports on boosted growth expectations in China, says:at least six cities including Jinan, Qingdao, and Changsha have announced their GDP growth targets for 2023, and the values are concentrated between 5.5% and 7%The article says this is line with the government work report looking for stronger growth rates. ADVERTISEMENT – CONTINUE READING BELOW Source link
NZD/USD begins the week on a softer footing after Friday’s heavy jump, picking up bids of late. US data drowned Treasury yields, DXY but Fed Officials flash mixed signals. China-linked headlines favor bulls amid a sluggish start to the key week. US, China CPI will be crucial amid indecision on the Fed’s next move, PBOC’s optimism. NZD/USD picks up bids to 0.6355 as it pares the week-start gap towards the south, after rising the most in two months the previous day. In doing so, the Kiwi pair takes clues from the market’s cautious optimism amid mostly downbeat US data and…
WD-40 Q1 2023 Earnings Preview Source link
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The United States December nonfarm payrolls report showed a growth of 223,000 jobs, above the market’s expectation of an increase of 200,000 jobs. While this shows that the economy remains strong, market observers shifted their focus to the slower wage growth of 0.3% for the month, below economists’ expectation of 0.4%. In addition, the euro zone’s headline inflation dropped from 10.1% in November to 9.2% in December. Both economic data boosted hopes that the central bank’s aggressive rate tightening may slow down. This triggered a rally in the U.S. and European stock markets.Daily cryptocurrency market performance. Source: Coin360BTC/USDT daily chart.…
<p>Citigroup CEO Jane Fraser in a written interview with Japan's <a href="https://asia.nikkei.com/Economy/U.S.-Fed-to-raise-rates-near-5.5-by-May-predicts-Citigroup-CEO" target="_blank" rel="nofollow">Nikkei </a>media (may be gated). It was conducted in December but the Nikkei only just published it over the weekend. </p><p>Main points:</p><ul><li>"overall U.S. inflation has peaked, services inflation continues to be painfully persistent."</li><li>"We see the Fed increasing its terminal rate to just under 5.5% by next May and holding rates at that level through the end of next year"</li><li>"I think a recession is likely to happen in the U.S. sometime in the second half of 2023"</li></ul><p>–</p><p>ICYMI;</p><ul><li><a href="https://www.forexlive.com/centralbank/weekend-japan-pm-kishida-once-again-says-will-have-discussions-with-new-boj-governor-20230108/" target="_blank" rel="follow" data-article-link="true">Weekend – Japan PM Kishida once again says…