[ad_1] October is here, and you know what that means: another round of top tier events to start the month, including the monthly monster U.S. employment update! Traders patiently awaited the event before making big moves, patience that was rewarded with a big positive surprise and volatility to follow! Not caught up on the major
[ad_1] For most of the week, the U.S. dollar dominated the majors, but after the highly anticipated U.S. employment update on Friday, the Greenback finally gave up its crown to the European currencies with the Swiss franc taking the top spot. Missed the major forex headlines? Here’s what you need to know from this past
[ad_1] The week’s primary focus revolved around central bank actions in response to persistent inflation and economic slowdown signals. The New Zealand dollar emerged as the top-performing currency, while the British pound struggled to last place as sentiment stemming from the Bank of England’s recent shift in policy stance weight on Sterling. Missed the major
[ad_1] Monday: The New Zealand Services PMI fell further into contraction: BNZ Senior Economist Doug Steel commented: “The latest PCI readings suggest any bounce through the Q2 GDP figures will be short lived and are consistent with economic contraction returning. In this sense, the PMI and PSI results are more consistent with the RBNZ forecast
[ad_1] Monday: BoJ Governor Ueda interviewed by Japanese media Yomiuri over the weekend said that his focus is on a “quiet exit” to avoid significant impact on the market: We could have enough data by year-end to determine whether we can end negative rates. Once we’re convinced Japan will see sustained rises in inflation accompanied
[ad_1] Risk assets were generally on top this week thanks to net positive economic updates from the U.S. and stimulative efforts from China, supporting “soft landing” bets. Meanwhile, European currencies like EUR, GBP, and CHF lost pips as disappointing data releases highlighted the growth concerns in the region. So, how exactly did the major global
[ad_1] Risk currencies were strutting their stuff like they just won a Super Bowl thanks to positive economic updates from the U.S. and from China pulling out fresh ways to stimulate their economy. We guess that traders are all in for that “soft landing” touchdown! Unfortunately for European currencies, traders were unloading as data from
[ad_1] Monday: ECB’s Wunsch (hawk – non voter) remains in favour of raising interest rates again: Underlying inflation remains persistent, may need more rate hikes. I’m inclined to say we maybe need to do a little bit more. The idea that we’ll have to come to a pause at a certain point can’t be excluded,
[ad_1] Monday: BoJ Governor Ueda spoke on the weekend at the Jackson Hole Symposium and leant again on the dovish side: We think that underlying inflation is still a bit below our target. This is why we are sticking with our current monetary easing framework. BoJ Governor Ueda China halved the stamp duty on stock
[ad_1] Monday: The PBoC cut the 1-year LPR rate by less than expected and held the 5-year rate steady: LPR 1-year 3.45% vs. 3.40% expected and 3.55% prior. LPR 5-year 4.20% vs. 4.05% expected and 4.20% prior. PBoC The German July PPI missed expectations: PPI M/M -1.1% vs. -0.2% expected and -0.3% prior. PPI Y/Y
