ForexLive Asia-Pacific FX news wrap: USD stronger, but beaten by yuan, EUR – ForexLive

  • Deel revised terms of service, blocking payments on some trading sites
  • North Korea appears to have launched a ballistic missile
  • Deutsche Bank says the impact of monetary policy will spread faster in Europe than in the US
  • This is the “cheat sheet” for the European Central Bank meeting – how to determine scenarios and positions
  • The market is pricing in the Bank of Japan ending negative interest rates in January 2024, which will be a major shift.
  • USD/JPY rises during trading – Bank of Japan buys government bonds again, 10-year yield falls to 0.7%
  • Chinese government lifts rules restricting existing home prices in popular areas
  • PBOC sets today’s USD/RMB base rate at 7.1894 (expected value is 7.2783)
  • Goldman Sachs talks about 3 developments that could slow US growth to just 1.3% in Q4 2023
  • CoinDesk announces that Binance US CEO is leaving the company and one-third of its workforce has been cut
  • Japan August PPI +0.3% m/m (forecast +0.1%)
  • Apparent leak regarding ECB rate hike expected to be announced on Thursday
  • Reuters September Tankan: Manufacturing economy index +4 (previous +12) Non-Manu +23 (previous +32)
  • JP Morgan analyst said the Fed is willing to sacrifice the economy to curb inflation “like the ECB”
  • New Zealand Data – Food Price Index (August) +0.5% m/m (previously -0.5%)
  • Biden scheduled to speak on economy on Thursday
  • The US government is reportedly considering selling around US$13 billion of mortgage bonds, according to newswires.
  • Carlyle CEO says FOMC will raise interest rates one more time this year
  • Goldman Sachs talks about why the S&P 500 could surpass its 4500 target
  • US August CPI to be released today – Preview – The final piece of the FOMC meeting puzzle
  • Will the Fed cut interest rates in early 2024? “I don’t think that will happen,” says Mohamed El-Erian.
  • SocGen raises S&P 500 price target for year-end 2023 from 4,300 to 4,750
  • Bond king Gundlach says Fed is done raising interest rates
  • Private Oil Survey Data Shows Increase in Headline and Expected Crude Numbers
  • EUR/USD rises due to ECB rate hike leak
  • Forexlive Americas FX News Summary: Crude oil hits 10-month high
  • Anonymous sources say ECB raises inflation forecasts, businesses push for interest rate hikes
  • US stock closing prices: Apple drags on after announcing latest iPhone
  • What is a crowded trade
  • Trade Ideas Thread – Wednesday, September 13, 2023
  • US August CPI Preview: Are you worried now or for the future?

It was another calm day in Asia today, with the excuse of “waiting for the US CPI”. Naturally, this is an important report. Ah, tomorrow we will be “waiting for ECB”.

Still, there was some movement.

EUR/USD rose after Reuters reported an apparent leak regarding a possible European Central Bank interest rate hike on Thursday (see bullet point above). Reuters cited unnamed sources as saying the reason for the rate hike was rising inflation expectations.

USD/JPY inched away from Monday morning’s gap and rose to a high just above 147.40, so there is still room for it to rise before the gap closes. In terms of market pricing, the Bank of Japan has significantly shifted the lifting of negative interest rates from September 2024 to January 2024. This is explained in more detail in the bullet points above.

The US dollar rose more broadly during the session, while the Australian dollar, New Zealand dollar, Canadian dollar and pound all weakened slightly. The yuan broke the mold and the Chinese currency in trading appreciated. China continues to make gradual policy changes, with news of Country Garden (a troubled real estate developer) being approved for an additional extension of its renminbi-denominated bonds.

The flow of other news was light.

Data obtained from Japan shows that the month-on-month change in PPI exceeded expectations, but the year-on-year change remained flat, declining for eight consecutive months.

And one more thing, if you’re reading this and use the services of trader financing or prop companies, check out our post about Deal suspending payment services to many such companies. please. The good news is that reputable and well-managed companies are quickly implementing alternative payment processes. Details in the post above.

EUR/USD rises on “leak”:

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