Forex News
ICYMI - OPEC+ could further extend voluntary cuts at its December meeting
OPEC+ is scheduled to meet on December 1. Reuters (out overnight) cite unnamed sources for info: It may push back output increases when it meets on Dec. 1 due to weak global oil demand according to three OPEC+ sources familiar with the discussions Ministers last shelved the increase for a month when they met virtually on Nov. 3 Two other OPEC+ sources said it was too early to say what the group will decide.
Wed, 20 Nov 2024 23:30:44 -0500
China's government advisers advocate for 2025 growth target of around 5%
Four Chinese government advisers advocated for a 2025 growth target of around 5%, similar to this year, Reuters reported on Thursday.
Wed, 20 Nov 2024 23:28:00 -0500
US firms plan for Trump China tariffs - stockpiling, raising prices?, bailing out of China
The Wall Street Journal (gated) with the report. Probably most interesting, for China, are moves to diversify supply chains away from the country:
Wed, 20 Nov 2024 22:28:54 -0500
Cautious Fed outlook, geopolitical risks to keep rupee on the defensive
The Indian rupee is likely to stay under pressure on Thursday as the prospect of less aggressive interest rate cuts by the Federal Reserve and geopolitical risks from the Ukraine-Russia conflict renewed strength in the U.S. dollar.
Wed, 20 Nov 2024 21:52:44 -0500
Indian exports not adversely impacted by rupee exchange rate policy, cenbank says
The Reserve Bank of India's approach to managing the rupee's exchange rate has not had an adverse impact on the global competitiveness of the country's exports, the central bank said in its monthly bulletin released late on Wednesday.
Wed, 20 Nov 2024 21:43:50 -0500
Oil and Natural Gas Technical Analysis: Geopolitical Tensions and Seasonal Demand
The oil market shows no clear direction while the natural gas price surged higher on strong demand.
Wed, 20 Nov 2024 20:58:57 -0500
Adani dollar bond prices fell sharply following charges against Chairman Adani
U.S. authorities allege Chairman Gautam Adani and seven others paid $265 million in bribes to Indian government officials. Adani Group has not commented on the allegations as yet.
Wed, 20 Nov 2024 20:56:53 -0500
RBA Cash Rate: Later But Faster Cuts Now More Likely
We have revised our view of the most likely scenario for the path of the RBA's cash rate, pushing out the start date of the rate-cutting cycle from February to May, but more front-loaded than previously assumed.
Wed, 20 Nov 2024 20:55:03 -0500
Japanese Yen gains positive traction against USD, upside potential seems limited
The Japanese Yen (JPY) edges higher against its American counterpart during the Asian session on Thursday and drags the USD/JPY pair away from the weekly top touched the previous day. Any meaningful JPY appreciation, however, seems elusive in the wake of the uncertainty tied to the Bank of Japan's (BoJ) pace and the timing of further interest rate hikes.
Wed, 20 Nov 2024 20:53:55 -0500
Fed's Collins: Additional policy easing required, final destination still uncertain
Boston Fed President Susan Collins stated in a speech that “additional policy easing is needed” as monetary policy remains “at least somewhat restrictive.”
Wed, 20 Nov 2024 20:52:37 -0500
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
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