RBA December Minutes: Further rates hikes will likely be needed to balance supply & demand
<p>Reserve Bank of Australia December meeting minutes</p><p>Headlines via Reuters:</p><ul><li> Board considered hiking by 25bp, 50bp or pausing at the December meeting</li><li>Board saw arguments for each option but the 25bp hike…
Read More »Heads up for the People’s Bank of China interest rate setting due Tuesday 20 December 2022
<p>The PBOC will be setting rates for one- and five-year Loan Prime Rates (LPR) on Tuesday around 0115 GMT. </p><p>After the rate on the MLF issued last week by the…
Read More »Japan Jibun preliminary (flash) manufacturing PMI for December 48.8 (prior 49.0)
<p>The deepest contraction for manufacturing for 26 months. Weak demand, strong cost pressures cited. </p><p>Manufacturing PMI 48.8</p><ul><li>prior 49.0</li><li> Output and new orders extended their contraction for a sixth month in…
Read More »Australian jobs data – unemployment rate for November 3.4% vs. 3.4% expected
<p>Australian November 2022 employment report is solid. </p><ul><li>Employment change is nearly double what it was the previous month</li><li>the unemployment rate is steady despite a higher number of people in the…
Read More »Morgan Stanely has raised its China GDP forecast for 2023 to 5.4% (from 5%)
<p>Morgan Stanley citing</p><ul><li> policy easing</li><li>quick reopening moves</li></ul><p>as twin factors to boost economic growth.</p><p>Earlier we had the opposite from ADB:</p><ul><li><a href="https://www.forexlive.com/news/adb-further-cuts-its-forecast-for-china-economic-growth-for-both-2022-and-2023-20221214/" target="_blank" rel="follow" data-article-link="true">ADB further cuts its forecast for China economic…
Read More »Central Banks. CPI. Technicals. The major drivers in the markets this week.
<p>The week is finally here. </p><p>The US CPI will kickstart the markets on Tuesday and that will transition into the Fed decision on Wednesday. Then when that is done, the…
Read More »PBOC expected to set Yuan midpoint at 6.9604
<p>The PBOC is expected to set yuan midpoint at 6.9604. That is just a smidgen higher than the prior day 6.9600. </p> This article was written by Greg Michalowski at…
Read More »AUD traders – RBA monetary policy meeting coming up Tuesday 6 September 2022 – preview
<p>The Reserve Bank of Australia statement is due at 0430 GMT on 6 September 2022.</p><p>Earlier previews are here:</p><ul><li><a href="https://www.forexlive.com/centralbank/rba-rate-hike-coming-up-next-week-preview-of-another-50bp-hike-20220902/" target="_blank">RBA rate hike coming up next week – preview of another…
Read More »Awaiting the yuan reference rate setting, PBOC likely to hold USD/CNY under 6.9 today
<p>Yesterday's mid-rate setting for the onshore yuan was instructive. The People's Bank of China set the rate around a big figure lower than the estimate:</p><ul><li><a href="https://www.forexlive.com/centralbank/pboc-sets-usd-cny-mid-point-today-at-68698-vs-estimate-at-68799-20220829/" target="_blank" data-article-link="true">PBOC sets USD/…
Read More »The weekend Forex report for the week starting August 29, 2022: Fed’s Powell gets serious.
<p>In the weekend forex report for the week starting August 29, 2022, I first take a deep dive into the Fed Chair Powell Jackson Hole Symposium speech. The chair had…
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