Japan finance minister Suzuki says watching FX moves closelyFederal Reserve Bank of Dallas President Lorie Logan is speaking soon, at 0630 GMTEuropean Central Bank chief economist Philip Lane is speaking on MondayBank of England Deputy Governor Sarah Breeden speaks on MondayUS data focus for Monday – March retail sales – the range of expectations to watchPeople’s Bank of China set MLF rate at 2.5% (prior 2.5%)PBOC sets USD/ CNY reference rate for today at 7.0979 (vs. estimate at 7.2478)Tesla (TSLA) is rumored to be preparing a massive round of layoffsAluminum and nickel have rocketed higher on the London Metal ExchangeGoldman Sachs raises its year-end gold forecast to $2,700, from $2,300 previouslyApple’s global shipments of Iphones -9.6% in the first quarter of 2024 (Xiaomi surge)Japanese machinery orders beat expectations for February, a good sign for capex aheadICYMI: New bank lending in China rose less than expected in MarchGoldman Sachs: oil prices will be dampened by hedging after Iran weekend attack on IsraelNew Zealand March services PMI plummets back into contraction at 47.5 (prior 53.0)US futures trade is open for the week – mixed response to the weekend attacks by IranWSJ: “Some Western Officials Expect Israel to Respond Quickly to Iran’s Attack”DIARY NOTE: Federal Reserve Chair Jerome Powell is speaking on Tuesday.Villeroy says the European Central Bank is likely to cut interest rates in JuneTrade ideas thread – Monday, 15 April, insightful charts, technical analysis, ideasMonday morning open levels – indicative forex prices – 15 April 2024Weekly Market Outlook (15-19 April)
Weekend Iran attacK
It’s the most-dangerous moment in geopolitics since the dawn of the Ukraine warIran says it struck an Israeli military base in NagevPictures appear to show strikes landing in IsraelSenior Israel official says there will be a ‘significant response’Video shows air defense active just above Israel, sirens sound, reports of explosionsIran says ‘the matter can be deemed concluded’Bitcoin plunges on Middle East war fearsIran fires ballistic missiles at IsraelIran launched barrage of drones toward IsraelNewsquawk Week Ahead: US and UK retail sales, UK, NZ, Canada and Japan inflationTel aviv stocks and global sentiment amid Iran – Israel tensionsForexlive Americas FX news wrap: BIg moves and big angst in the Middle East
The
big weekend news was of Iranian attacks on Israel. Bitcoin lost
ground over the weekend but the impact on other financial markets was
more subdued once they opened on Monday/Sunday evening (US time).
Oil
had a volatile opening but has calmed to be little changed now from
its level of late on Friday. Its a similar story across much of major
FX bar USD/JPY. USD/JPY has climbed to another fresh 30+ year high.
Industrial
metals aluminium and nickel surged higher. New US and UK sanctions
have banned deliveries of any Russian supplies produced after
midnight on Friday. Aluminium jumped more than 9%, its single biggest
move in over 30 years.
From
China today we had an unchanged rate, of 2.5%, on this month’s
Medium-term Lending Facility (MLF). The People’s Bank of China
added in 100bn yuan, not fully offsetting the 170bn yuan maturing on
Wednesday this week. The Chinese economy is in need of further
stimulus, and while the People’s Bank of China is reluctant to cut
interest rates, fearing a wider rate disparity would see further
weakness for the yuan, it’s a little peculiar that they are
draining funds via MLF.
Mainland
China stock markets have traded higher on the day. Chinese
authorities restated
key policies
for the capital market late
on Friday. Also, state
wealth fund Central Huijin increased its
stakes in
China’s big
four
banks on
Friday.As
I update Bloomberg is reporting that Chinese private developers face
a $553 billion funding gap to complete pre-sold homes according to
Goldman Sachs analysts.
This article was written by Eamonn Sheridan at www.forexlive.com.Japan finance minister Suzuki says watching FX moves closelyFederal Reserve Bank of Dallas President Lorie Logan is speaking soon, at 0630 GMTEuropean Central Bank chief economist Philip Lane is speaking on MondayBank of England Deputy Governor Sarah Breeden speaks on MondayUS data focus for Monday – March retail sales – the range of expectations to watchPeople’s Bank of China set MLF rate at 2.5% (prior 2.5%)PBOC sets USD/ CNY reference rate for today at 7.0979 (vs. estimate at 7.2478)Tesla (TSLA) is rumored to be preparing a massive round of layoffsAluminum and nickel have rocketed higher on the London Metal ExchangeGoldman Sachs raises its year-end gold forecast to $2,700, from $2,300 previouslyApple’s global shipments of Iphones -9.6% in the first quarter of 2024 (Xiaomi surge)Japanese machinery orders beat expectations for February, a good sign for capex aheadICYMI: New bank lending in China rose less than expected in MarchGoldman Sachs: oil prices will be dampened by hedging after Iran weekend attack on IsraelNew Zealand March services PMI plummets back into contraction at 47.5 (prior 53.0)US futures trade is open for the week – mixed response to the weekend attacks by IranWSJ: “Some Western Officials Expect Israel to Respond Quickly to Iran’s Attack”DIARY NOTE: Federal Reserve Chair Jerome Powell is speaking on Tuesday.Villeroy says the European Central Bank is likely to cut interest rates in JuneTrade ideas thread – Monday, 15 April, insightful charts, technical analysis, ideasMonday morning open levels – indicative forex prices – 15 April 2024Weekly Market Outlook (15-19 April)Weekend Iran attacKIt’s the most-dangerous moment in geopolitics since the dawn of the Ukraine warIran says it struck an Israeli military base in NagevPictures appear to show strikes landing in IsraelSenior Israel official says there will be a ‘significant response’Video shows air defense active just above Israel, sirens sound, reports of explosionsIran says ‘the matter can be deemed concluded’Bitcoin plunges on Middle East war fearsIran fires ballistic missiles at IsraelIran launched barrage of drones toward IsraelNewsquawk Week Ahead: US and UK retail sales, UK, NZ, Canada and Japan inflationTel aviv stocks and global sentiment amid Iran – Israel tensionsForexlive Americas FX news wrap: BIg moves and big angst in the Middle East
The
big weekend news was of Iranian attacks on Israel. Bitcoin lost
ground over the weekend but the impact on other financial markets was
more subdued once they opened on Monday/Sunday evening (US time).Oil
had a volatile opening but has calmed to be little changed now from
its level of late on Friday. Its a similar story across much of major
FX bar USD/JPY. USD/JPY has climbed to another fresh 30+ year high.Industrial
metals aluminium and nickel surged higher. New US and UK sanctions
have banned deliveries of any Russian supplies produced after
midnight on Friday. Aluminium jumped more than 9%, its single biggest
move in over 30 years.
From
China today we had an unchanged rate, of 2.5%, on this month’s
Medium-term Lending Facility (MLF). The People’s Bank of China
added in 100bn yuan, not fully offsetting the 170bn yuan maturing on
Wednesday this week. The Chinese economy is in need of further
stimulus, and while the People’s Bank of China is reluctant to cut
interest rates, fearing a wider rate disparity would see further
weakness for the yuan, it’s a little peculiar that they are
draining funds via MLF.
Mainland
China stock markets have traded higher on the day. Chinese
authorities restated
key policies
for the capital market late
on Friday. Also, state
wealth fund Central Huijin increased its
stakes in
China’s big
four
banks on
Friday.As
I update Bloomberg is reporting that Chinese private developers face
a $553 billion funding gap to complete pre-sold homes according to
Goldman Sachs analysts.
This article was written by Eamonn Sheridan at www.forexlive.com. Read MoreNews
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