USD/JPY is nudging back towards 156.00. There is no fresh news of pertinence, it looks like another week of yen sellers chasing yield differentials is ahead. There is plenty of fresh data due this week, so be nimble: Weekly Market Outlook (13-17 May)Newsquawk Week Ahead: Highlights include US CPI, US Retail Sales, UK and Australian […]
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Justin had the headlines on this on Friday ICYMI: Japan PM Kishida says closely monitoring recent yen weakness Japanese Prime Minister Kishida adding to the chorus of warnings on the weak yen: “We are closely monitoring the yen’s recent weakness, and the government will continue to closely cooperate with the Bank of Japan” Kishida was […]
People’s Bank of China USD/CNY reference rate is due around 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate […]
Data from China on credit in April, via Bloomberg Economics (gated), shows it shrank for the first time government bond sales slowed, more government bonds were repaid than sold in the monthloan expansion was worse than expected in a sign of weak demand Aggregate financing is a broad measure of credit. It fell by almost […]
Employers in the UK plan to raise wages by 4% over the next 12 months. That’s according to a quarterly survey conducted by the Chartered Institute of Personnel and Development. he previous survey showed a similar result. “While employers’ pay rise expectations remain above pre-pandemic levels, we would expect them to adjust their plans for […]
While core inflation is usually the most focus, the FPI in New Zealand can give the kiwi $ a bit of a wiggle from time to time. — The New Zealand Food Price Index (FPI) is a measure of the changes in the average price of food items sold in New Zealand. calculated and published […]
The UK’s Financial Times says “Rishi Sunak to declare Britain is ‘at a crossroads’ as he readies Tories for election” The FT is gated but the BBC say similar: Rishi Sunak to promise ‘bold ideas’ in pre-election pitch BBC add: National polling puts Labour as much as 20 points ahead of the Conservatives (Sunak’s party) […]
BNZ – BusinessNZ Performance of Services Index (PSI) for April was 47.1, its lowest since January 2022 March was revised to 47.2 BNZ comment: “combining today’s weak PSI with last week’s PMI yields a composite reading that would be consistent with GDP tracking below year earlier levels into the middle of this year. That is […]
Adam posted the comments from Iraq’s oil minister over the weekend, saying they were unclear: Iraq won’t agree to new oil production cuts, minister says The minister did get around to clarifying his muddled remarks, saying Iraq would do OPEC’s bidding: Iraq’s muddled weekend comments on oil – deciphering continues Update for oil, dribbling just […]