Forex News - TradeCenterFX

Australian Treasurer Chalmers: Tumbling iron ore prices, softening labor market have hit government revenue

After presenting his Ministerial Statement on the economy on Wednesday, Australian Treasurer Jim Chalmers said, "tumbling iron ore prices and a softening labor market have hit government revenue.”

Tue, 19 Nov 2024 21:44:00 -0500

Australian Dollar remains steady following PBoC interest rate decision

The Australian Dollar (AUD) attempts to extend its gains for the fourth consecutive day on Wednesday, following the People's Bank of China's (PBoC) interest rate decision. The PBoC's Monetary Policy Committee (MPC) opted to keep the benchmark interest rate unchanged at 3.1% for November.

Tue, 19 Nov 2024 21:13:12 -0500

Australia's Fiscal Challenges: Treasurer Chalmers' Economic Update

Treasurer Jim Chalmers has delivered his Ministeral Statement on the Economy. In summary Chalmers pointed to Australia facing a more challenging fiscal outlook as key trading partner China cools and the local job market loosens

Tue, 19 Nov 2024 21:09:05 -0500

Japan Adjusted Merchandise Trade Balance: ¥-357.7B (October) vs previous ¥-187.2B

Tue, 19 Nov 2024 21:03:34 -0500

China PBoC Interest Rate Decision meets expectations (3.1%)

Tue, 19 Nov 2024 20:18:45 -0500

"Yen Weakens as Japan's Verbal Warnings Appear to Be Losing Effectiveness"

A snippet from the Wall Street Journal on the lower yen in Tokyo trade so far today./ In brief: yen weakens Japanese authorities' verbal warnings appear to be losing effectiveness Citing CBA analysts: Market reaction to Japanese Finance Minister Kato's comments on Tuesday was much smaller compared with Friday “If words cease to have the desired impact, it may take action from the Ministry of Finance to get the desired impact on the JPY,” risk of market intervention by Japanese authorities to support the yen at any time *** Other analysts are not warning o yen intervention at any time, eyeing 160 as the trigger level: ICYMI - Citi base case is for no USD/JPY intervention before 160 USD/JPY 160 level - potential BOJ intervention, rate hike This article was written by Eamonn Sheridan at www.forexlive.com.

Tue, 19 Nov 2024 20:11:19 -0500

PBOC leaves Loan Prime Rates unchanged in November

The People's Bank of China (PBOC), China's central bank, announced to leave its Loan Prime Rates (LPRs) unchanged on Wednesday. The one-year and five-year LPRs were at 3.10% and 3.60%, respectively.

Tue, 19 Nov 2024 20:09:00 -0500

JP Morgan 2025 US outlook - unemployment rise, growth downshift, Core PCE infl still > 2%

JP Morgan US economic outlook for next year, in breif There are now upside risks to growth from deregulation and tax cutting and downside risks from tariffs and general policy uncertainty But one shouldn't lose sight of the business cycle, which has been performing well We look for only a mild downshift in growth in 2025 to 2%, with a small additional rise in the unemployment rate to 4.5% Core PCE inflation expected to decelerate a half-point next year to 2.3% We look for the Fed to cut 25bps in December and another 75bps by the end of 3Q25, then stop at 3.75% Labor supply is set to slow over the next couple years, with breakeven payroll growth falling under 100k by 2026 labor demand also keeps moderating, though not enough to create a recession Growth with be supported by solid but not speculator business productivity gains of of 1.5-2.0% per year We assume that tariffs on China will rise sharply but not be raised significantly elsewhere, leading to slower trade volumes and higher import prices More of this? This article was written by Eamonn Sheridan at www.forexlive.com.

Tue, 19 Nov 2024 19:57:14 -0500

WTI holds steady below $69.50 amid mounting Russia-Ukraine tensions

Tue, 19 Nov 2024 19:30:00 -0500

UK - Official statistics painting an overly pessimistic picture of labour market

Reuters with this interesting piece: Britain's official labour market statistics may be failing to count almost 1 million people who are in work might also be overestimating the number of workers who have dropped out of the jobs market think tank data closely tracked official employment numbers until 2020. Since then it has diverged sharply.

Tue, 19 Nov 2024 19:17:25 -0500

Australian Leading Index first clear ‘above-trend' result since November 2023

Westpac Leading Index, in brief: Leading Index has moved into positive territory, from –0.20% in September to +0.26% in October. This provides a tentative signal that growth momentum is set to improve from its current nadir.

Tue, 19 Nov 2024 18:59:19 -0500

Japan Imports (YoY) came in at 0.4%, above forecasts (-0.3%) in October

Tue, 19 Nov 2024 18:50:37 -0500

Japan Exports (YoY) registered at 3.1% above expectations (2.2%) in October

Tue, 19 Nov 2024 18:50:37 -0500

Japan October trade balance -461bn yen (expected -360bn yen)

Japan trade data for October 2024 more to come This article was written by Eamonn Sheridan at www.forexlive.com.

Tue, 19 Nov 2024 18:50:30 -0500

Japan Merchandise Trade Balance Total registered at ¥-461.2B, below expectations (¥-360.4B) in October

Tue, 19 Nov 2024 18:50:06 -0500

Ukraine hits Russia with US ATACMS missiles, Moscow says

Ukraine used US ATACMS missiles to strike Russian territory on Tuesday, the Russian government said, marking a significant uptick in hostilities on the 1,000th day of the conflict, per Reuters. Russian President Vladimir Putin sent a message to Washington by signing a new nuclear doctrine on Tuesday.

Tue, 19 Nov 2024 18:43:48 -0500

Japanese Yen and Australia Dollar News: Japan's Trade Data and the PBoC in Focus

USD/JPY braces for moves as Japan's trade data and BoJ hike bets clash with upbeat US data reducing chances of a December Fed rate cut.

Tue, 19 Nov 2024 18:17:00 -0500

Canada's Inflation Returns to 2.0% in October After September Dip

Canada's October inflation figures printed broadly higher, supporting smaller interest rate reductions from the BOC next month. How did the Loonie react?

Tue, 19 Nov 2024 17:10:00 -0500

Oil - private survey of inventory shows a large headline crude oil build vs expectations

Via oilprice dot com on Twitter: -- Expectations for change I had seen centred on: Headline crude +0.1 mn barrels Distillates 0 (zero) mn bbls Gasoline +0.9 mn --- This data point is from a privately-conducted survey by the American Petroleum Institute (API). It's a survey of oil storage facilities and companies The official report is due Wednesday morning US time.

Tue, 19 Nov 2024 16:43:42 -0500

Natural Gas Price Forecast: Eyes Sustained Breakout as Bullish Momentum Builds

Natural gas rallied above 3.02 but faces resistance at 3.06. A confirmed breakout could target 3.16, 3.22, and higher resistance levels within a bullish trend.

Tue, 19 Nov 2024 16:42:42 -0500