Author: FX

US Dollar, Federal Reserve, CPI, AUD/USD, USD/JPY, Ueda – Talking PointsThe US Dollar resumed strengthening today in the CPI aftermathUSD/JPY is nudging recent peaks after a new BoJ Governor was anointedThe Fed reminded markets of their intention and yields responded Recommended by Daniel McCarthy How to Trade USD/JPY The US Dollar is firmer today heading into the European session after yesterday’s US CPI data overshot the mark. The headline number came in at 6.4% y/y rather than 6.2% due to an upward revision in the December read.The January increase in prices of 0.5% m/m hit forecasts but the December number…

© Reuters. FILE PHOTO: Former Starbucks CEO Howard Schultz speaks during his book tour in Seattle, Washington, U.S., January 31, 2019. REUTERS/Jason Redmond By David Shepardson WASHINGTON (Reuters) -Starbucks Corp Chief Executive Howard Schultz declined an invitation from 11 senators to testify on March 9 on the coffee company’s compliance with federal labor law, according to a letter seen by Reuters late on Tuesday. Last week, U.S. Senator Bernie Sanders, who chairs a committee on labor issues, and 10 other members of the committee asked Schultz to answer by Feb. 14 whether he would take part. Schultz, who re-joined Starbucks…

<ul><li><a href="https://www.forexlive.com/news/australian-jobs-report-is-due-thursday-16-february-2023-preview-20230215/">Australian jobs report is due Thursday, 16 February 2023 – preview</a></li><li><a href="https://www.forexlive.com/news/canada-bans-all-research-funding-with-chinese-military-and-state-security-institutions-20230215/">Canada bans all research funding with Chinese military and state security institutions</a></li><li><a href="https://www.forexlive.com/centralbank/european-centralbank-president-lagarde-is-speaking-on-wednesday-15-february-2023-20230215/">European Central Bank President Lagarde is speaking on Wednesday, 15 February 2023</a></li><li><a href="https://www.forexlive.com/centralbank/japan-pm-kishida-spoke-on-his-selection-of-uead-as-new-boj-head-the-best-20230215/">Japan PM Kishida spoke on his selection of Uead as new BOJ head – "the best"</a></li><li><a href="https://www.forexlive.com/centralbank/rba-gov-lowe-says-not-at-the-peak-for-rates-yet-unsure-how-high-they-go-20230215/">RBA Gov. Lowe says not at the peak for rates yet, unsure how high they go</a></li><li><a href="https://www.forexlive.com/news/goldman-sachs-says-russian-oil-sold-for-significantly-more-than-quoted-prices-up-to-us25-20230215/">Goldman Sachs says Russian oil sold for significantly more than quoted prices, up to US$25</a></li><li><a href="https://www.forexlive.com/centralbank/pboc-1-year-mlf-unchanged-rate-of-275-20230215/">PBOC 1 year MLF unchanged rate of 2.75%</a></li><li><a href="https://www.forexlive.com/centralbank/pboc-sets-usd-cny-reference-rate-for-today-at-68183-vs-estimate-at-68196-20230215/">PBOC sets USD/ CNY reference rate for today at…

Share: USD/JPY is in the red for the first time this week, back below the 133.00 level. US Dollar benefits from risk aversion but US Treasury yields remain a drag.   Bearish 50DMA support is in sight amid the pullback from multi-week highs. USD/JPY is on a corrective downside journey so far this Wednesday, witnessing losses for the first time this week. The pair is retreating from fresh six-week highs of 133.31 reached a day before, trading under 133.00 amid broad risk aversion. Hotter-than-expected US Consumer Price Index (CPI) data combined with hawkish commentary from US Federal Reserve (Fed)…

dan_prat/iStock Unreleased via Getty Images Suncor Energy (NYSE:SU) reported a better than expected Q4 profit on Tuesday, with adjusted operating earnings of C$2.43B (US$1.82B), or C$1.81/share, compared with the C$1.76 analyst consensus estimate and nearly double the C$1.29B, or C$0.89/share, in the year-ago quarter. Q4 net earnings rose to C$2.74B, or C$2.03/share from C$1.55B, or C$1.07/share, in the prior-year period. Suncor (SU) said the improved results were due to higher crude oil prices and refined product realizations as well as more upstream production, partially offset by higher operating expenses. Q4 total upstream production increased 2.6% Y/Y to 763.1K boe/day from…

Meanwhile, Ford is planning layoffs over the next three years targeting 2,300 employees from the administrative division in Germany, 1,300 from the UK and another 200 positions from Ford’s European branches. Although the move adds to Ford’s long list of layoffs after cutting thousands of workers over the past year, the company stated that this decision was forced to be taken so that Ford could boost revenue from the production of electric vehicles. Technical Review Palladium printed a new low of 1464.30 in Tuesday’s trading (14/02). The downside bias has been dominant, ever since the 1768.35 June 2022 rebound failed…

© Reuters. FILE PHOTO: Onions are displayed at a stall at a public market in Manila, Philippines, January 28, 2023. REUTERS/Lisa Marie David By Enrico Dela Cruz and Adrian Portugal MANILA (Reuters) – Putting quality over profit during inflationary times, Manila restaurant manager Ely Cundangan has refused to mess with her signature beef marrow stew – the same amount of onions must go in the pot no matter what. “Our ingredients have become so expensive that we are almost earning nothing. But we can’t change the recipe,” said the 76-year old Cundangan, taking a break from cooking to man the…

Point72 Asset Management adds Salesforce, Netflix, exits Palo Alto Networks Source link

Japanese Yen, USD/JPY, US Dollar, BoJ, Ueda, Sakkibara, Nikkei 225 – Talking PointsThe Japanese Yen has steadied today after falling to start the weekA new BoJ Governor might see a change of tack for monetary policyThe appointment has the approval of a Yen stalwart that sees tightening ahead Recommended by Daniel McCarthy How to Trade USD/JPY The Japanese Yen dipped on Monday and Tuesday with USD/JPY trading at its highest level since early January at 133.32.The appointment of Kazuo Ueda to be the new Governor of the Bank of Japan (BoJ) on Tuesday was somewhat of a surprise.His tenure will…

<p>People's Bank of China inject 499 bn yuan </p><ul><li>vs. 300 bn yuan maturing</li><li>for 1 year</li><li>rate unchanged at 2.75%</li></ul><p>–</p><p>The MLF rate is a benchmark interest rate that banks in China can use to borrow funds from the central bank for a period of 6 months to 1 year. The rate is typically announced on the 15th of each month.</p><p>The MLF rate sets the scene for the monthly Loan Prime Rate (LPR) setting on the 20th.The MLF rate was unchanged in January, as were the LPRs:3.65% for the one year4.30% for the five year</p> This article was written by Eamonn Sheridan at…