North American Summary and Highlights 21 October

October 21, 2024 7:39 PM UTC

Overview - The USD was generally stronger, if led by USD/JPY, as UST yields rose. 

Asia Summary and Highlights 21 October

October 21, 2024 4:19 AM UTC

PBoC cut 1 and 5 yr LPR by 25bps 
RBA deputy governor said policy ready for both direction

North American Summary and Highlights 18 October

October 18, 2024 8:02 PM UTC

Overview - GBP bounced on stronger than expected UK retail sales but could not sustain its gains versus the EUR as EUR and JPY both rose versus the USD after softer US housing data. 

This week's five highlights

October 18, 2024 10:00 AM UTC

ECB Inflation Outlook Lowered
UK CPI Below Target and BoE Hawks Placated
Canada  CPI Subdued and pause in BoC core rates downtrend likely to be temporary
U.S. Retail Sales and Industrial Production
China September Data Rotates Higher

North American Summary and Highlights 14 October

October 14, 2024 7:57 PM UTC

Overview - In a quiet day the USD was mostly firmer, the gains coming largely before less dovish remarks from Fed’s Waller. 

FX Weekly Strategy: October 14th - 18th

October 14, 2024 9:03 AM UTC

ECB meeting to deliver expected rate cut
EUR/USD risks still on the downside
UK data to support weaker GBP tone
JPY to remain soft in the absence of news

North American Summary and Highlights 10 October

October 10, 2024 7:30 PM UTC

Overview - The USD was little changed after rise in initial claims slightly outweighed an above consensus US CPI, with comments from Fed’s Bostic later giving the USD some support. 

Asia Summary and Highlights 10 October

October 10, 2024 4:21 AM UTC

PBOC to establish securities, funds to aid capital market stability
Japan September PPI 0.0% m/m (expected -0.3%) and +2.8% y/y (expected +2.3%)
The Australian consumer inflation expectation slipped to 4% from 4.4%

North American Summary and Highlights 9 October

October 9, 2024 7:51 PM UTC

Overview - On another quiet day the USD saw support from Fed’s Logan but FOMC minutes had little impact. 

Asia Summary and Highlights 9 October

October 9, 2024 5:24 AM UTC

RBNZ Cut by 50bps as expected
Chinese equities tank

North American Summary and Highlights 8 October

October 8, 2024 7:38 PM UTC

Overview - In a quiet day a weaker CHF was the main move. JPY also lost a little ground after some early gains. 

Asia Summary and Highlights 8 October

October 8, 2024 4:58 AM UTC

Japan labor cash earnings +3.0% y/y in August 
Japan Overall Household spending +2.0% m/m
Japan economy minister Akazawa says drop in real wages is not good news
Chinese equities jumped almost 9% higher in the opening before retracing partial gains

North American Summary and Highlights 7 October

October 7, 2024 7:55 PM UTC

Overview - In a day with limited news, mild risk aversion was the main theme of trading. 

Asia Summary and Highlights 7 October

October 7, 2024 5:30 AM UTC

Japan's yen intervention official says will monitor FX including speculative movement
Japan finance minister Kato says there are pros and cons to the weak yen
Australian Melbourne Institute CPI for September 2024: 0.1% m/m (prior -0.1%)

North American Summary and Highlights 27 September

September 27, 2024 7:51 PM UTC

Overview - Ishiba’s election as Japanese PM sent the JPY higher. US data was soft, but the impact was modest. 

This week's five highlights

September 27, 2024 10:00 AM UTC

More Cuts on the Way for SNB 
Faster and a Little Further Rate Cuts for Riksbank 
RBA Waiting to ease
U.S. GDP Historical revisions mostly positive 
China Steps Up Support, But Not a Game changer

North American Summary and Highlights 26 September

September 26, 2024 7:49 PM UTC

Overview - Despite stronger than expected US data, the USD was mostly softer, though little changed versus JPY and CAD. 

Asia Summary and Highlights 26 September

September 26, 2024 5:09 AM UTC

BOJ July minutes calls for further gradual, but timely, interest rate increases
It is reported that China is considering injecting US$142bn of capital into top banks

North American Summary and Highlights 25 September

September 25, 2024 7:42 PM UTC

Overview - EUR/JPY again advanced in Europe, but the USD was stronger in North America after US new home sales exceeded expectations. 

Asia Summary and Highlights 25 September

September 25, 2024 4:58 AM UTC

Japan August services PPI 2.7% y/y vs. 2.6% expected
Australian August monthly  CPI 2.7% y/y (expected 2.8%)
The People’s Bank of China cut the Medium-term Lending Facility (MLF) rate to 2% from 2.3% 

North American Summary and Highlights 24 September

September 24, 2024 7:49 PM UTC

Overview - EUR/JPY advanced in Europe, but the USD fell in North America after weak consumer confidence data. 

Asia Summary and Highlights 24 September

September 24, 2024 5:28 AM UTC

RBA leaves cash rate unchanged at 4.35%, as expected

North American Summary and Highlights 23 September

September 23, 2024 7:50 PM UTC

Overview - Weak European PMIs weighed on the EUR, though the USD was mostly softer elsewhere. 

Asia Summary and Highlights 23 September

September 23, 2024 5:48 AM UTC

USD/JPY higher in the early Asia hours on Monday
Japan's vice finance minister for international affairs Atsushi Mimura said "always watching" yen carry trade

North American Summary and Highlights 20 September

September 20, 2024 8:02 PM UTC

Overview - The JPY weakened after Ueda’s press conference, but the USD was little changed elsewhere. 

This week's five highlights

September 20, 2024 10:00 AM UTC

FOMC eases by 50bps but otherwise not strikingly dovish
BoJ Keep Rates Unchanged
Explicit Gradualism From BoE 
Norges Bank's Head Still in the Sand
UK Inflation Stable and Services Resilience 

North American Summary and Highlights 19 September

September 19, 2024 7:33 PM UTC

Overview - Unchanged rates decisions gave some support to GBP and NOK. Data gave modest support to the USD. 

Asia Summary and Highlights 19 September

September 19, 2024 5:07 AM UTC

The broad risk mood is positive as market participants digest FOMC decision
USD/JPY retreats from early high
Australian August Headline Employment Change +47.5k
New Zealand Q2 GDP -0.2% q/q

North American Summary and Highlights 18 September

September 18, 2024 8:02 PM UTC

Overview - A 50bps Fed easing initially saw the USD weaken but Fed signals in the dots and from Powell for a more cautious pace of easing going forward saw the losses more than fully reversed. 

Asia Summary and Highlights 18 September

September 18, 2024 5:03 AM UTC

Japan August exports +5.6% y/y, expected +10.0%, imports +2.3% y/y, expected +16.6%.

North American Summary and Highlights 17 September

September 17, 2024 7:52 PM UTC

Overview - After a quiet European morning the USD saw some support from stronger than expected US data. 

Asia Summary and Highlights 17 September

September 17, 2024 5:13 AM UTC

Regional sentiment mixed on Tuesday Asia
Japan Finance Minister Suzuki says he is analysing the impact of the strengthening yen

North American Summary and Highlights 16 September

September 16, 2024 7:43 PM UTC

Overview - The USD was under some pressure in Europe but stabilized in North America with support from the Empire State survey, seeing some gains versus JPY and CAD. 

Asia Summary and Highlights 16 September

September 16, 2024 4:58 AM UTC

USD/JPY breaks below 140

North American Summary and Highlights 13 September

September 13, 2024 7:39 PM UTC

Overview - The USD was pressured by reports the FOMC was considering a 50bps easing at the forthcoming meeting, though stronger Michigan CSI data helped the USD to stabilize.

This week's five highlights

September 13, 2024 10:00 AM UTC

ECB Under-Estimating Downside Risks
U.S. August Core CPI  at a four month high led by shelter and air fares
U.S. August PPI Ex Food, Energy and Trade a little too high for comfort
UK GDP a More Mixed Messages Give BoE Food for Thought
More of the Same or Game changing Policies for China Equities