Author: FX

<p>Last week we had another +50bp rate hike from the Bank of England:</p><ul><li><a href="https://www.forexlive.com/news/forexlive-americas-fx-news-wrap-bank-of-england-and-ecb-raise-rates-by-50-basis-points-20230202/" target="_blank" rel="follow" data-article-link="true">Forexlive Americas FX news wrap: Bank of England and ECB raise rates by 50 basis points</a></li></ul><p>BoE officials are on the talking circuit today:</p><p>0900 GMT (0400 US ET) Deputy Governor for Markets and Banking Dave Ramsden </p><ul><li>delivers welcome remarks at the Bank of England and Royal Economic Society's UK Women in Economics Network launch event</li></ul><p>1015 GMT (0515 US ET) Huw Pill, Chief Economist and Executive Director for Monetary Analysis</p><ul><li>chairing a panel at the Bank of England and Royal Economic Society's UK Women in Economics Network…

Share: Further to the earlier announcements by Japan’s Ministry of Finance, Japan’s Finance Minister Shun’ichi Suzuki has crossed the worse and stated that the intervention last year was in response to excessive volatility. The announcements in Tokyo have coincided with a stronger Yen: The Yen is breaking down structures which leaves low-hanging fruit for the bears to target for the day ahead with eyes on the 132.00 area as 132.50 gets broken down. On the 15-min chart, the bears are potentially locking in a high for the day but are yet to crack below Monday’s higher low of the day around 132.39:  …

CVS close to acquiring Oak Street Health for $10.5B – WSJ Source link

© Reuters. FILE PHOTO-An employee of a supermarket named Akidai works at a store in Tokyo, Japan January 20, 2023. REUTERS/Issei Kato TOKYO (Reuters) – Japan’s real wages rose in December for the first time since March despite rising inflation, as nominal pay grew at the fastest pace in nearly 26 years with robust winter bonuses. The market closely watches wage trends in the world’s third largest economy as high pay growth to counter price increases is seen as a crucial condition for the Bank of Japan to scale back its ultra-loose monetary easing. Inflation-adjusted real wages, a gauge of…

S&P 500, Meme Stocks, Dollar, USDJPY, Fed Funds Rate and RBA Decision Talking Points:The Market Perspective: USDJPY Bullish Above 132.00; EURUSD Bearish Below 108Market-based rate forecasts have swelled to meet the Fed’s forecasts, lifting the Dollar to notable EURUSD and USDJPY breaksRisk trends were noticeably more restrictive Monday, but meme stock troubles may shake the speculative-driven ‘risk on’ mentality Recommended by John Kicklighter Get Your Free Top Trading Opportunities Forecast The fundamental aftermath of last week’s calendar is strong, but that doesn’t mean it will continue to drive speculative development through the foreseeable future. With the US Dollar, the combined…

National Australia Bank on the Reserve Bank of Australia meeting today, Tuesday, 7 February 2023:The RBA is expected to deliver another 25bp increase to take the Cash Rate to 3.35%, an outcome expected by almost everyone surveyed by the main media outlets (a couple are picking no change, no-one a 50-point increase). Money markets have about 20bps priced. We expect the RBA to keep similar guidance to the December meeting and keep a hawkish bias given domestic inflation pressures, but also acknowledge the improved global inflation backdrop. Near-term wages and underlying inflation forecasts need to be revised higher in Friday’s…

Share: German Economy Minister Robert Habeck expressed optimism on Monday about resolving a European Union trade dispute with Washington, saying he saw room for compromise on certain elements of the US Inflation Reduction Act and its green subsidies, reported Reuters. Reuters also quotes Germany’s Habeck as saying, “There is still a fair chance to reach agreements that will allow European industry to participate, and not be excluded from, the Inflation Reduction Act.” “The US legislative process was completed, but work was now underway on regulations implementing the law,” also mentioned Germany’s Habeck while adding, “That process was far…

TFI International Non-GAAP EPS of $1.72 misses by $0.01, revenue of $1.96B misses by $110M Source link

Dollar, Emerging Markets, Peso, Hong Kong Dollar, Lira and Rupee Talking Points:The Market Perspective: USDHKD Range Bound Below 7.8500The charge in risk trends through January has come on hard times recently, leading assets like indices to drop and regions like the EM to ease; in turn EM currencies have been hitUSDHKD is nearing its enforced range cap, USDMXN put in for a severe 2-day rally, USDINR is near its record high and USDTRY is already there Recommended by John Kicklighter Forex for Beginners In the FX market, most traders focus on the ‘majors’ – the most liquid exchange rates in…

© Reuters. FILE PHOTO: Printed Chinese and Canada flags are seen in this illustration, July 21, 2022. REUTERS/Dado Ruvic/Illustration/File Photo By Steve Scherer and Fergal Smith OTTAWA/TORONTO (Reuters) – China’s rapid reopening is likely to fuel demand for commodities produced in abundance by Canada, potentially helping Canada’s economy avoid a recession as long as it does not also force up inflation and spur further interest-rate hikes. The Bank of Canada last month hiked its key interest rate to 4.5%, the highest level in 15 years, and said the economy will stall in the first half of the year and could…