Currency Point: It was a few weeks before Christmas and rate rises are here
- Currency Point, Featured Posts, Fundamental Analysis, Recent Posts
- December 12, 2022
OPENING CALL: The Australian share market is expected to open higher. The SPI Futures is expected to be up 39 points. Germany’s Adidas reported higher quarterly earnings on strong sales in China and predicted continued growth, but warned that a protracted trade and currency war could derail the global economy and hurt business.
READ MOREOPENING CALL: The Australian share market is expected to open lower. The SPI Futures is expected to be down 11 points. China’s abrupt devaluation of the yuan this week is an acknowledgment from Beijing that its economy needs help, a vulnerability Chinese policymakers have played down during the trade conflict with the U.S.
READ MOREOPENING CALL: The Australian share market is expected to open higher. The SPI Futures is expected to be up 47 points. Treasury yields moved a bit higher intraday after China’s central bank signaled it wouldn’t let the yuan fall further, encouraging investors to shift some money back to riskier assets like stocks. Amazon’s
READ MOREOPENING CALL: The Australian share market is expected to open lower. SPI Futures is expected down 110 points. Beijing’s move to devalue its currency escalated the U.S.-China trade fight yet again and raised the potential of another retaliatory round from Washington. HSBC plans to cut up to 2% of
READ MOREOPENING CALL: The Australian share market is expected to open flat. In separate statements Friday, the two Federal Reserve officials who opposed Wednesday’s interest-rate cut by the central bank justified their views based on the current state of the economy. Trump’s announcement, through a series of tweets Thursday afternoon, ramped up tensions surrounding the trade
READ MOREEveryone is talking about the ‘hawkish cut’ and the reweighting taking place in FX. The strength of the USD should not be underestimated, it has seen GBP, AUD, EUR and NZD get pounded to multi-year lows. It was even more painful when you factor in Powell’s testimony; his bumbling and inability to clarify the Board’s
READ MOREOPENING CALL: The Australian share market is expected to open lower. The SPI200 futures contract expected to open down 15 points. U.S. government-bond prices extended early gains after President Trump said he would impose new tariffs on China. The Federal Trade Commission is examining Facebook Inc.’s acquisitions as part of its antitrust investigation into the
READ MOREOPENING CALL: The Australian share market is expected to open lower. The SPI200 futures contract expected to open down 29 points. The Federal Reserve cut interest rates by a quarter-percentage point-the first reduction since 2008-in a preemptive strike to cushion the economy from a global slowdown and escalating trade tensions. Deutsche Bank AG
READ MOREOPENING CALL: The Australian share market is expected to open higher. The SPI200 futures contract expected to open up 19 points. The U.S. economy grew at a healthy clip in the second quarter as higher consumer spending offset a decline in business investment, keeping the expansion on track despite trade tensions and cooling global
READ MOREOPENING CALL: The Australian share market is expected to open lower. The SPI200 futures contract expected to open down 34 points. Dow posted lower net sales and profit, and the company lowered its guidance for capital expenditures by $500 million, citing global uncertainty. British Prime Minister Boris Johnson laid
READ MOREOPENING CALL: The Australian share market is expected to open flat. Boris Johnson formally became Britain’s prime minister and immediately set about assembling a team of ministers and advisers to prepare an all-out push to get the U.K. out of the European Union by the fall. Decline in yield on 10-year Treasury inflation-protected
READ MOREOPENING CALL: The Australian share market is expected to open higher. The SPI200 futures contract expected to open up 33 points. A U.S. delegation is expected to travel to China for trade talks, National Economic Council Director Larry Kudlow said, marking what would be the first in-person talks since the Group of 20
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