PBOC is expected to set the USD/CNY reference rate at 6.8724 – Reuters estimate
<p>People's Bank of China USD/CNY reference rate is due around 0115 GMT. </p><ul><li>USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from the daily reference rate….
Read More »It quarter end. How did the major currency pairs vs the USD do? What levels to eye in 2Q
<p>Today is quarter end. The USD is ending the quarter mixed with declines vs the <a href="https://www.forexlive.com/terms/e/eur/" class="terms__main-term" id="b0427fd7-674c-4ad1-b689-22d1f8b087b0">EUR</a>, <a href="https://www.forexlive.com/terms/g/gbp/" class="terms__secondary-term" id="3a5ab7c1-ff09-45ea-87d4-eea6613bb754">GBP</a>, CHF and CAD and gains vs the…
Read More »Australian monthly CPI (February) 6.8% (vs. expected 7.1%)
<p>February 2023 headline CPI is 6.8% y/y, better (lower) than expected and from January </p><ul><li>expected 7.1%, prior 7.4%</li></ul><p>Augurs well for an RBA pause at its meeting next Tuesday (April 4).</p><p>Looking…
Read More »Australian February retail sales +0.2% m/m (expected +0.1%)
<p>Australian February retail sales +0.2% m/m </p><ul><li>expected +0.1%, prior +0.4%</li><li>preliminary reading, more will follow on April 3</li></ul><p>For the y/y, up 6.4%</p><p>AUD is heading a little higher but its more of…
Read More »Yellen financial stability meeting says system remains sound and resilient
<p>Earlier news today that Treasury Secretary Yellen was meeting with regulators offered some support for markets and hope of weekend action to shore up deposits. The initial readout was vague:</p><p>The…
Read More »PBoC expected to set USD/CNY mid-point for Friday, 24 March at 6.8367, Reuters estimate
<p>PBOC CNY reference rate is due around 0115 GMT.</p> This article was written by Eamonn Sheridan at www.forexlive.com.
Read More »Its People’s Bank of China rate-setting day – the RRR cut on Friday is new info
<p>On Friday we had the People's Bank of China cut its RRR:</p><ul><li><a href="https://www.forexlive.com/centralbank/pboc-announces-cut-to-banks-reserve-requirement-ratio-by-25-bps-20230317/" target="_blank" rel="follow" data-article-link="true">PBOC announces cut to banks' reserve requirement ratio by 25 bps</a></li></ul><p>Also last week the rate…
Read More »Singapore February Non-Oil Domestic Exports (NODX) -8.0% m/m (expected -0.5%)
<p>Singapore Non-Oil Exports for February 2023</p><p>-8.0% m.m</p><ul><li>expected -0.5%, prior 0.9%</li></ul><p>-15.6% y/y</p><ul><li>expected -16.0%, prior -25.0%</li></ul><p>NODX is the total value of goods that Singapore exports to other countries, excluding oil and gas…
Read More »The Fed is now facing a real dilemma. Here’s what will happen
<p>The point of hiking interest rates is to inflict economic pain. In a perfect world, it would be spread evenly and fairly, the economy would slow just enough to bring…
Read More »USD/JPY drops under its overnight low ahead of BOJ meeting today
<p>USD/JPY activity is thnner than normal with the Bank of Japan meeting announcement due in around 3 hours time (there is no firmly scheduled time). </p><p>While the consensus is for…
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