Author: FX
People’s Bank of China (PBOC) Deputy Governor spoke on several topics on the supportive measures implemented to shore up the property market. Key takeaways On existing mortgage rate cuts – Most stock of existing mortgage loans interest rates will be adjusted October 25. Accounts for 90% of existing mortgages. On lowering minimum down payment ratios – Have observed market confidence and sales as a result. On real estate development loans – Will be extended until end of 2026. Source link
Australia’s September jobs figures mostly came in the green, as the economy reported a much faster pace of hiring for the month at 64.1K versus the projected 25.2K increase. This was enough to keep the jobless rate at 4.1% instead of the expected 4.2% reading. The previous report also enjoyed a positive revision on the unemployment rate from 4.2% to 4.1%, although the employment change figure was downgraded from 47.5K to 42.6K. Link to Australia’s Labor Force Survey (September 2024) Components of the September jobs report showed an improvement in the participation rate from 67.1% to 67.2%. Full-time employment increased…
Major currencies and asset classes seem to be taking cues from their own individual catalysts, with U.K. inflation data and the “Trump trade” taking center stage. Crude oil had its usual bearish run, although the energy commodity managed to limit its losses in the past sessions compared to its steep selloff earlier in the week. Here are the updates driving price action lately. Headlines: New Zealand Q2 2024 CPI at 0.6% (0.7% expected, 0.4% previous), annual reading down from 3.3% to 2.2% to mark the first time it reached the RBNZ target range in over 3 years BOJ board member…
Cristi Croitoru/iStock Editorial via Getty Images Expedia (NASDAQ:EXPE) jumped 7% in after-hours trading after a report that Uber (NYSE:UBER) considered a possible takeover of the company as it tries to diversify its business. Uber (UBER) talked to advisers in recent months about a bid for Expedia ( Source link
The world of financial markets can feel like a whirlwind of charts, indicators, and ever-fluctuating prices. For savvy MetaTrader 5 (MT5) users, navigating this dynamic landscape requires a robust toolkit. Enter the SHI Channel indicator, a powerful technical analysis tool designed to simplify trend identification and potential support and resistance levels. This comprehensive guide delves into the inner workings of the SHI Channel, empowering you to leverage its capabilities and potentially elevate your MT5 trading experience. Understanding the Core Concept The magic behind the SHI Channel lies in its ability to identify and utilize fractals. In layman’s terms, fractals are…
Justin had the news on softer than estimated UK inflation data Wednesday:Adding:reaffirming stronger odds for the BOE to cut rates in November. GBP/USD falls HSBC’s report says GBP could extend lower in the months ahead if U.K. services inflation eases further,Analysts at the bank noted services inflation is slowing more quickly, and might fall further in coming months. This will ease concerns about persistent inflation at the Bank of England and its Monetary Policy Committee to interest rates more quickly.Traders are already expecting a November rate cut and see the chance of another cut in December“The BOE’s end point is…
EURUSD dailyGoldman Sachs emphasizes the need for caution regarding near-term downside for EUR/USD. Despite weak momentum, the European Central Bank is not likely to shift to a more aggressive policy stance, which may help support the euro in the short term.Key Points:Limited ECB Guidance:The ECB is expected to maintain its cautious approach and not move towards more explicit forward guidance at this week’s meeting, despite the anticipated 25 basis point rate cut.High Bar for Depreciation:A one-at-a-time cutting cycle means that policymakers may require convincing data to support each subsequent cut, raising the threshold for EUR depreciation. This dynamic contributes to…
EUR/USD stays below 1.0900 as the ECB is expected to cut its borrowing rates by 25 bps on Thursday. Increasing speculation for Donald Trump’s victory in the US presidential elections has dampened the Eurozone’s economic outlook. Fed’s Waller advised a gradual reduction of interest rates over the next year. EUR/USD falls further to near 1.0880 in Wednesday’s North American session. The major currency pair weakens as the Euro (EUR) underperforms on expectations that the European Central Bank (ECB) will cut interest rates again on Thursday. The ECB is widely anticipated to reduce its Rate on Deposit Facility by 25 basis points…
Freddie Mac sells ~$13.9M worth of non-performing loans Source link
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