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Forex Market News

SNB's Jordan: Highly valued Swiss franc is holding down inflation

Thu, 17 Jun 2021 08:46:31 Z

Further remarks by SNB chief, Thomas Jordan Some token remarks there by Jordan but mainly to remind the market that they are not even considering anything remotely close to thinking about policy changes for now.

Japan PM Suga confirms Tokyo state of emergency to end on 20 June

Thu, 17 Jun 2021 08:15:39 Z

Japanese prime minister, Yoshihide Suga, announces

BOE's Haldane: UK economy may be near pre-pandemic output levels

Thu, 17 Jun 2021 08:08:18 Z

Remarks by BOE chief economist, Andy Haldane Once again, do be reminded that Haldane was the sole dissenter (more hawkish) but he is also due to leave the BOE soon so perhaps he is just wanting to make his "actual" opinions heard - a rather typical case these days among central bankers.

SNB's Jordan: Anchored inflation expectations speak for loose policy

Thu, 17 Jun 2021 08:05:56 Z

Remarks by SNB chief, Thomas Jordan Even with the upgraded inflation forecasts today, they are nowhere near what the SNB will be comfortable with to loosen the reins on the Swiss franc and in turn, that means there won't be any major policy changes in the offing.

No follow through in Treasury yields surge so far today

Thu, 17 Jun 2021 08:03:58 Z

10-year yields are down 2 bps to 1.555% currently The dollar may still be working with the technicals and gaining some modest ground in European morning trade but not a lot of that 'hawkishness' per se is being reflected in the bond market at the moment.

GBP/USD sellers eye key support on break below 1.4000 after the FOMC

Thu, 17 Jun 2021 07:35:27 Z

GBP/USD slumped heavily yesterday as the dollar gained across the board From a technical perspective, buyers did hang on for a while at 1.4100 but now with a break back below 1.4000, there isn't much in the way of a move to the 100-day moving average (red line) @ 1.3933 next.

SNB leaves policy rate unchanged at -0.75%, as expected

Thu, 17 Jun 2021 07:30:01 Z

SNB announces its latest monetary policy decision - 17 June 2021

USD/CAD looks to come up for air after Fed's hawkish tilt

Thu, 17 Jun 2021 07:24:23 Z

USD/CAD is keeping steadier today after yesterday's shove higher but buyers are still looking buoyed That has the potential to shake up the dollar narrative going into the summer and for USD/CAD, that presents a rather interesting twist of fate after the downside run so far.

EUR/USD extends fall to two-month lows on post-FOMC hangover

Thu, 17 Jun 2021 07:17:40 Z

EUR/USD drops 0.3% to 1.1960 on the day From a technical perspective, that leaves little in the way of a potential shove towards 1.1900 and the 61.8 retracement level @ 1.1919 next.

ECB's Lane: It is premature to talk about end of PEPP

Thu, 17 Jun 2021 06:45:03 Z

Remarks by ECB chief economist, Philip Lane - ECB does not have a fixed volume approach to PEPP - Not mechanical in deciding the pace of PEPP purchases - September will be important but a lot of data is still missing After yesterday, it just makes the ECB's job so much easier to 'outdove' the Fed and Lane's remarks

Eurostoxx futures -0.4% in early European trading

Thu, 17 Jun 2021 06:06:52 Z

The Fed aftershocks continue to reverberate This mirrors the mood in US futures, where S&P 500 futures are down 0.3% and Nasdaq futures down 0.4% currently. That continues the softer tone from yesterday after the Fed brought forward rate hike projections.

Switzerland May trade balance CHF 4.95 billion vs CHF 3.84 billion prior

Thu, 17 Jun 2021 06:02:03 Z

Latest data released by the Federal Statistics Office - CHF 3.84 billion; revised to CHF 3.77 billion A bit of a mixed picture as the trade surplus expanded with exports growing while imports slumped a little last month. But as a trend, overall conditions are still working their way to pre-pandemic levels so that's still the

Trade ideas thread - European session 17 June 2021

Thu, 17 Jun 2021 05:51:56 Z

Daily thread to exchange ideas and to share your thoughts If anything, the market has never been a good judge of that but the Fed surprise yesterday certainly could be one that we look back at as a pivotal shift in the narrative that tapering is coming sooner rather than later.

RBA says bond market operation today cancelled due to technical glitch

Thu, 17 Jun 2021 05:33:51 Z

This comes as several major websites are down once again The RBA website itself was down earlier but is back up, as another web outage - a brief one this time - seemed to have took place in the past half-hour. This likely has to do with that but it isn't so much a major issue.

Economic data coming up in the European session

Thu, 17 Jun 2021 04:49:29 Z

Who let the hawks out? The Fed conjured a hawkish surprise at yesterday's FOMC meeting and while the guidance on rates haven't changed, it was and economic projections as policymakers see a quicker timeline for liftoff and higher inflation.

Germany reports 1,330 new coronavirus cases, 105 deaths in latest update today

Thu, 17 Jun 2021 04:18:41 Z

The 7-day incidence rate falls further to 11.6 The signs continue to point to an improving virus situation in Germany ahead of the summer, with total active cases easing further to ~34,100.

China's NDRC says has preliminary success curbing price surges in commodity prices

Thu, 17 Jun 2021 03:44:36 Z

The National Development and Reform Commission of the People's Republic of China (NDRC) is the 'state planner'. AUD can tend to soften a little on news of China actions to curb commodity prices. 

Australia's 'stunning' jobs report, wage pressure 'will only grow'

Thu, 17 Jun 2021 03:29:58 Z

A snippet via Westpac on the jobs report. ICYMI: WPAC's note is detailed, I pulled out mainly their comments on the potential for wage growth ahead: The point about wage growth (which, up to now has been very slow) is that the RBA wants it at around 3 to 3.5% to help drive inflation towards the Bank's target. 

Ex- BOJ Maeda: From about 2023, BoJ could begin discussing ways to phase out exceptional stimulus

Thu, 17 Jun 2021 03:12:00 Z

Comments from ex-BOJ Executive Maeda, says that the Bank could begin discussing ways to phase out exceptional stimulus, such as eliminating negative rates, from about 2023

ForexLive Asia FX news wrap: Blow-out Australian and New Zealand data

Thu, 17 Jun 2021 02:55:14 Z

Forex news for Asia trading on Thursday 17 June 2021 Major FX digested the FOMC outcome here in Asia in a relatively sedate manner. AUD and NZD were different, though.

Japan economy minister Nishimura confirms plan is to lift emergency state in Tokyo, elsewhere

Thu, 17 Jun 2021 02:53:59 Z

Nishimura says Japan's panel of health experts on the coronavirus have approved the plan to lift states of emergency in Tokyo and other prefectures

Academic article - Asymmetric information in the foreign exchange market

Thu, 17 Jun 2021 02:25:07 Z

Study of the FX market by outsiders does not tell FX market professionals anything they don't already know. I have been known to bang on about this from time-to-time. Often the only people that know about trades, or a trade, are the buyer and seller in the trade. OTC, that's the way it is. 

China May new home prices +0.6% m/m

Thu, 17 Jun 2021 02:03:22 Z

Chine new home price data was out at the same time as the Australian jobs report, catching up on this now. Average new home prices in 70 major cities grew 0.6% in May (Reuters calculation)

AUD/USD up, but has come back a little, on the blow-out Australian jobs report

Thu, 17 Jun 2021 01:50:35 Z

A huge beat for the Australian labour market report: I mentioned in that post the RBA want wage growth as well as employment growth to help lift inflation towards its target. The RBA target for the jobless rate is 4.5%, they expect that would prompt wage growth of 3 to 3.5% which in turn would lift

Australian May Employment Change +115.2K (expected +30K) & Unemployment Rate: 5.1% (expected 5.5%)

Thu, 17 Jun 2021 01:30:16 Z

Australia labour market, jobs report, for May ... HUGE beats Employment Change: +115.2K Unemployment Rate: 5.1%, much lower despite a higher participatiion rate Full-Time Employment Change: +97.5K Part-Time Employment Change: +17.7K Participation Rate: 66.2% Big job gains. Good news for the economy. If wage gains were evident also (they are curently not) the RBA would be happy as that'd be a

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