Australian Dollar appreciates due to a hawkish mood surrounding the RBA policy outlook
The Australian Dollar (AUD) retraces its recent losses on Thursday, buoyed by a hawkish outlook from the Reserve Bank of Australia (RBA) concerning interest rates. Despite this, the AUD/USD pair could still face downward pressure as the US Dollar (USD) might strengthen due to safe-haven flows amid the escalating Russia-Ukraine conflict.
Wed, 20 Nov 2024 20:50:27 -0500
Fed's Cook confident inflation moving toward target
Fed Governor Lisa Cook said in a speech that the US economy is in a “good position”. She remains “confident” that inflation is moving sustainably toward Fed's 2% objective, while acknowledging that the path may be “occasionally bumpy.
Wed, 20 Nov 2024 20:44:20 -0500
WTI steadies near $69.00 amid geopolitical risks, rise in US crude stock
WTI steadies near $69.00 amid geopolitical risks, rise in US crude stock
Wed, 20 Nov 2024 20:34:00 -0500
Adani dollar bonds tumble after US bribery charges
Dollar bond prices for Adani companies fell sharply in early Asia trade on Thursday after the Indian conglomerate's billionaire chairman was indicted in New York over allegations of bribery and fraud.
Wed, 20 Nov 2024 20:32:13 -0500
TSMC expected to build one new fabrication facility a year in Taiwan over the next decade.
Also, said that TSMC's fabs in Kaohsiung, southern Taiwan, are “ready to go” likely indicating that the necessary power and water infrastructure is already in place.
Wed, 20 Nov 2024 20:31:31 -0500
Dollar pulls ahead as markets focus on Trump policies, Fed outlook
The U.S. dollar stood broadly firm on Thursday as traders awaited more clarity on U.S. President-elect Donald Trump's proposed policies and sought to second-guess the prospects of less aggressive interest rate cuts from the Federal Reserve.
Wed, 20 Nov 2024 20:27:23 -0500
Fed's Bowman flags inflation risks as progress stalls amid tight labor market
Fed Governor Michelle Bowman expressed concerns over the recent slowdown in inflation reduction efforts, emphasizing that while there has been “considerable progress in lowering inflation since early 2023,” this progress “seems to have stalled in recent months.”
Wed, 20 Nov 2024 19:58:19 -0500
South Korea 1 - 20 November trade data: Exports jump 5.8% y/y
South Korean trade data for the first 20 days of the month is encouraging for exports: +5.8% y/y vs. a -0.2% for October (full month) Not so much for imports: -1.0% y/y Morgan Stanely noted risks for SK from the new incoming US admin: “Supply chains would face significant rewiring pressures, and the disruption faced by the corporate sector would meaningfully slow the capex cycle,” “Asia's growth could decelerate meaningfully, with the more trade-oriented economies like Korea and Taiwan facing more downward pressure.
Wed, 20 Nov 2024 19:52:09 -0500
Japan's economic package expected around 21.9 trillion yen
Earlier this week Japanese Economic Revitalisation Minister Akazawa empasized that its crucial the p[package contains measures to boost wages.
Wed, 20 Nov 2024 19:44:00 -0500
Japanese Yen and Australian Dollar News: BoJ and RBA Governors in the Spotlight
USD/JPY targets 154-156 amid BoJ policy speculation, while AUD/USD faces volatility on RBA inflation risks and Fed rate path expectations.
Wed, 20 Nov 2024 19:43:33 -0500
ECB's Stournaras: 2% inflation target to come in early 2025
The European Central Bank (ECB) Governing Council member Yannis Stournaras said on Wednesday that the Eurozone is on the cusp of sustainably reaching 2% inflation, putting the onus on officials to avoid undershooting that goal, per Bloomberg.
Wed, 20 Nov 2024 19:33:10 -0500
BoE's Ramsden supports gradual rate cuts, but highlights inflation undershooting risks
BoE Deputy Governor Dave Ramsden expressed support for the MPC's cautious approach to easing interest rates, citing economic uncertainties tied to recent fiscal measures and labor market data. Ramsden emphasized the need for a “watchful and responsive” strategy given lingering questions about the effects of higher employer taxes and potential misrepresentations in labor statistics.
Wed, 20 Nov 2024 19:30:40 -0500
Fed's Collins says more rate cuts are needed
Federal Reserve Bank of Boston President Susan Collins said on Wednesday that more interest-rate cuts are needed, but policymakers should proceed carefully to avoid moving too quickly or too slowly, per Bloomberg.
Wed, 20 Nov 2024 19:21:37 -0500
ECB's Stournaras: Avoiding inflation undershoot becoming policy priority
Greek ECB Governing Council member Yannis Stournaras emphasized at an event overnight that inflation in Eurozone is now projected to reach the 2% target “sooner than earlier expectations,” likely by early 2025 rather than the fourth quarter as previously anticipated. This shift suggests the ECB's policy focus may increasingly pivot to ensuring “we don't undershoot our inflation objective”.
Wed, 20 Nov 2024 19:18:32 -0500
Natural Gas Wave Analysis
Natural gas continues to rise strongly after the earlier breakout of the key multi-month resistance level 3.150, reversing the price from May.
Wed, 20 Nov 2024 18:58:05 -0500
New Zealand Treasury plans to cut economic and fiscal forecasts
Reports out of New Zealand today that New Zealand Treasury plans to revise economic and fiscal forecasts due to a sustained slowdown in productivity.
Wed, 20 Nov 2024 17:47:29 -0500
Canadian Dollar ends win streak before it can fully begin
The Canadian Dollar (CAD) is back to its losing ways, backsliding 0.1% against the Greenback on Wednesday. The Loonie has ended it's near-term bullish recovery against the safe haven US Dollar during the midweek market session as the economic calendar remains low-impact on both sides of the USD/CAD pair.
Wed, 20 Nov 2024 17:03:02 -0500
Natural Gas Price Forecast: Surges Past Key Levels, Eyeing Higher Targets
Natural gas confirmed a decisive breakout above 3.02 and 3.16, indicating strong bullish momentum with next resistance levels at 3.35–3.45.
Wed, 20 Nov 2024 16:40:49 -0500
Forexlive Americas FX news wrap 20 Nov: Fed's Bowman more hawkish. 20 year auction ugly.
The economic calendar was void of any economic releases today. However, there was two Fed Governors who spoke.
Wed, 20 Nov 2024 16:10:41 -0500
The Fed, ECB, and More Explained: Central Bank FAQs for Forex Traders
Learn how the Fed, ECB, and BOJ impact forex markets. Get answers to FAQs on interest rates, currency trends, and trading strategies in this must-read guide.
Wed, 20 Nov 2024 15:12:00 -0500