- Bitcoin is extending lower, hitting US$33.5K
- More on Japan PM saying will ban Russian oil “in principle”
- ECB’s Rehn wants a July rate hike – wants rates at zero by autumn
- USD/CNY traded to the lowest for the onshore yuan since November of 2020
- PBOC sets USD/ CNY reference rate for today at 6.6899 (vs. estimate at 6.6950)
- Japan’s PM Kishida says will take steps to phase out imports of Russian oil over time
- Japan – Jibun Bank/Markit April Services PMI (final) 50.7
- Two Chinese Coast Guard ships are reportedly in Japanese territorial waters
- NZD/USD view for the week ahead – support & resistance levels, Trend appears lower,
- Bank of Japan Minutes of the Monetary Policy Meeting on March 17 and 18
- Japanese March 2022 real wages -0.2% y/y
- US President Biden is to speak on inflation on Tuesday
- Morgan Stanley Research maintains its bearish bias on NZD. Short NZD/CAD.
- China trade data due today – preview (exports expected to take a hit due to COVID-19)
- Weekend – China Premier Li Keqiang warns of ‘grave’ jobs situation
- US equity index futures have opened lower to kick off the new week
- Australian union movement seeking an increase to the national minimum wage citing high CPI
- Updated view for AUD/USD: To 0.74 and higher in weeks/months ahead
- Uk to increase tariffs on imports of platinum, palladium from Russia and Belarus
- Saudi Aramco has lowered its oil price, cut from record levels
- Asian market holidays on Monday 9 May 2022 – Hong Kong is closed
- Trade ideas thread – Monday 09 May 2022
- NZD traders – Fonterra revise thier 2021/22 forecast Farmgate Milk Price range lower
- Weekend – Shanghai is tightening its COVID-19 lockdown
- US, EU & G7 impose additional sanctions targeting Russia
- Monday morning open levels – indicative forex rates – 09 May 2022
- A novel take on the low-rate trap
- Newsquawk week ahead: Highlights include US CPI, China CPI, UK GDP
- ECB’s Holzmann says two or even three steps to hikes would be appropriate this year
- China’s central bank to launch facility to assist transport, logistics & storage sectors
- European Union making a last-ditch attempt to save the Iran nuclear deal, break deadlock
- Firms are struggling to re-open factories in Shanghai
lead in to Asia was a
Friday (and certainly week) for US shares. US inventory index futures
slipped additional once more through the session right here (i.e. Sunday night US
commerce on Globex).
mixed weight of Federal Reserve (and different central banks) elevating
charges, excessive shopper worth inflation, financial slowdown, and chronic
lockdowns in China are combining to ship ‘threat’ decrease.
the FX area the USD strengthened through the session throughout the
majors board. Yen, CHF, AUD, EUR, GBP, CAD, NZD – all have misplaced
floor on the session right here immediately towards the US$. Gold, too, is decrease.
Crypto has continued its decline. ETH is underneath USD2500 whereas BTC/USD dropped underneath 33K at one stage (its barely above that as I submit)., its lowest since round July final yr.
yuan was set (reference price) greater than 560 factors decrease towards the USD immediately (that’s, USD/CNY extra 560 pts greater). Because it started buying and selling USD/CNY rose to above 6.71, the bottom for onshore yuan since November 2020.
Oil dropped additionally however as I submit has staged a comeback. There are posts above on continued efforts to make progress on getting Iran again into the nuclear deal and on Saudi Aramco chopping costs for June.