Author: FX
Data released from the UK’s Society of Motor Manufacturers and Traders (SMMT):December car production fell 17.9% y/yafter two straight months of growth in output Annual car production fell to the lowest level since 1956. 775,014 cars were made in Britain in 2022EV production is encouraging though:”These (total) figures reflect just how tough 2022 was for UK car manufacturing, though we still made more electric vehicles than ever before,” SMMT Chief Executive Mike Hawes said.-Info comes via Reuters reporting. Source link
The Bank of Japan’s Summary of Opinions is coming out in stages. Key points It will take time for Japan to achieve sustained wage growth, must support the economy with macro policy. Focusing on service prices as demand-pull inflation must be achieved for Bank of Jaopan’s price target to be met. Price rises accelerating not just for goods but for services. Public’s norm on prices may be changing due to big, external shock. More to come… About the Bank of Japan’s Summary of Opinions This report includes the BOJ’s projection for inflation and economic growth. It is scheduled 8 times per year, about…
Japanese Yen, USD/JPY, 2-Year Treasury Auction, US GDP – Asia Pacific Market Open:Japanese Yen gained as the 2-year Treasury yield weakenedLocal bond auction showed demand was highest since 2020USD/JPY remains focused lower after October trendline held Recommended by Daniel Dubrovsky Get Your Free JPY Forecast Asia-Pacific Market Briefing – Japanese Yen Gains as Treasury Yields FallThe Japanese Yen gained against the US Dollar on Wednesday, capitalizing on broad weakness in the Greenback. Notwithstanding small recent changes from the Bank of Japan towards policy normalization, the BoJ remains the most dovish developed central bank. As such, the Yen often finds itself…
National Capital Bank of Washington GAAP EPS of $4.71, revenue of $5.83M Source link
S&P 500, US Dollar, Earnings, BOC and FOMC Rate Decision Talking Points:The Market Perspective: S&P 500 Eminis Bearish Below 3,900; USDJPY Bullish Above 132.00The S&P 500 continues to exhibit serious intraday volatility this past session with a sizable gap lower to undermine Monday’s breakout…only to fully retrace the move back into rangeWe are moving into more serious fundamental waters Thursday with the US 4Q GDP reading on tap; and Dollar traders frustrated by the tight range will be watching with anticipation Recommended by John Kicklighter Get Your Free Top Trading Opportunities Forecast The markets are doing everything they can to…
USA100, Daily A flurry of economic reports had mixed but little net impact on the markets which continue to position for the upcoming FOMC meeting as well as digest earnings news. Stronger than forecast Q4 GDP and a further decline in jobless claims were offset by a disappointing news on durables and home sales, even though the latter two saw better than expected headlines. Major US stock market indices were volatile early on as the reports were digested, but recovered through the afternoon. The better headline numbers added to expectations that any recession will be short and shallow. And equity…
© Reuters. FILE PHOTO: The Boeing logo is seen on the side of a Boeing 737 MAX at the Farnborough International Airshow, in Farnborough, Britain, July 20, 2022. REUTERS/Peter Cziborra By David Shepardson (Reuters) -Relatives of people killed in two fatal 737 MAX crashes asked a U.S. judge on Wednesday to name an independent corporate monitor to oversee Boeing (NYSE:) Co’s compliance efforts with a 2021 deferred prosecution agreement. U.S. District Judge Reed O’Connor last week ordered Boeing to appear in court on Thursday in Fort Worth, Texas, to be arraigned on a felony charge after families of those killed…
USDJPY, Rate Forecasts and Volatility Talking Points:The Market Perspective: USDJPY Bullish Above 132USDJPY has developed a remarkably consistent channel, which has led to a range trading-like response from retail traders; but a break will be necessitated sooner than laterCarry trade appetite is still a strong influence on USDJPY; but with a FOMC plateau seen in the near-future, will risk trends take precedence? Recommended by John Kicklighter Get Your Free JPY Forecast Like most of the Dollar-based crosses, USDJPY is struggling to establish a clear bearing. There is a prevailing bear trend that has developed following the November 10th breakdown –…
This is via the folks at eFX. For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. Goldman Sachs discusses USD/JPY outlook in light of its forecasts revision.”While the BOJ’s apparent flexibility on the current policy stance has shifted the balance of risks in favor of further Yen strength, the combination of no imminent exit from YCC and our more constructive view on US growth for 2023 relative to consensus fears of a recession should allow the Dollar…
Higher-than-expected Australian inflation data increased the odds of a rate hike by the RBA. Sentiment shifted mixed as Wall Street’s fluctuated between gainers/losers. AUD/USD Price Analysis: A daily close above 0.7100 will pave the way for further gains. The Australian Dollar (AUD) rose to a fresh five-month high at 0.7122 against the US Dollar (USD) on Wednesday, following the release of Australian inflation data that cemented the case for further tightening by the Reserve Bank of Australia (RBA). Except for the Australian Dollar, risk aversion keeps high beta currencies pressured. Hence, the AUD/USD is trading at 0.7106 at the time…