FX News

Market Overview

• Worldwide coronavirus cases surpass 250.495 million with over 5.068 million official
deaths.
• New Zealand has 2754 active cases of coronavirus with 190 new cases today and 1 death. Meanwhile, the Australian State of New South Wales reported 187 new cases and 4 deaths yesterday with Victoria reporting 1126 new cases with 5 deaths
• The S&P closed at a record level for the seventh straight day Friday while the NASDAQ has closed at a record level for 43 days this year.
• Federal Reserve’s Bullard expects more than 4% GDP growth in 2022 and 2 rate hikes
• ECB’s Lane says extensive accommodation is needed to build up inflationary pressure
• The New Zealand Dollar was the strongest major currency Monday Read more

Tuesday 08/11
4:30am, USD, Fed Chair Powell Speaks
6am, GBP, BOE Gov Bailey Speaks

Wednesday 09/11
2:30am, USD, PPI m/m
Forecast 0.60%
Previous 0.50%
3am, USD, Fed Chair Powell Speaks
5am, GBP, BOE Gov Bailey Speaks
11:45am, CAD, BOC Gov Macklem Speaks Read more

Market Overview

Key Points:

• Worldwide coronavirus cases surpass 247.697 million with over 5.018 million official deaths.
• New Zealand has 1929 active cases of coronavirus with 129 new cases today.  Meanwhile, the Australian State of New South Wales reported 135 new cases and 4 deaths yesterday with Victoria reporting 1471 new cases with 4 deaths
• NSW have bought forward covid restrictions for the vaccinated to Monday November 8th, first dose numbers are now 93.65%
• Australian Inflation expectations are now the highest in seven years with figures supporting the annual inflation number is predicted to soar to nearly 5.0% over the next two years
• Australian Consumer Confidence at 108.4 vs prior 106.8
• NZ Building permits for September are down 1.9% from August’s 3.8%. Orr expects the easing of house prices in the medium term
• Supply chain issues are still pushing up Crude Oil prices- today at 84.80 per barrel, analysts are predicting levels to peak at 120.00 per barrel in mid next year and will drive up the prices of gasoline, jet fuel and other energy prices

Read more

Tuesday 02/11
3am, USD, ISM Manufacturing PMI
Forecast 60.4
Previous 61.1

Wednesday 03/11
4:30pm, AUD, Cash Rate
Forecast 0.10%
Previous 0.10%
4:30pm, AUD, RBA Rate Statement

Thursday 04/11
1:15am, USD, ADP Non Farm Employment Change
Forecast 400K
Previous 568k
3am, USD, ISM Services PMI
Forecast 61.9
Previous 61.9
7am, USD, FOMC Statement
7am, USD, Federal Funds Rate
Forecast <0.25%
Previous <0.25%
7:30am, USD, FOMC Press Conference
All Day, All, APEC-JMMC Meetings Read more

Key Points:

Worldwide coronavirus cases surpass 246.229 million with over 4.995 million official
deaths.
New Zealand has 891 active cases of coronavirus with 97 new cases yesterday with the first case in over 1 year recorded in the South Island. Meanwhile, the Australian State of New South Wales reported 268 new cases and 2 deaths yesterday with Victoria reporting 1656 new cases with 10 deaths
RBNZ’s Governor Orr said monetary policy easing has done as much as it can amid a very different inflation and interest rate environment
Japan’s Inflation for September comes in at 0.1% vs 0.5% expected with unemployment remaining at 2.8%
A new Delta variant has experts worried in the UK with the new variant possibly more transmissible, it accounts for over 10% of all covid cases at a time when new cases are rising rapidly, the only positive news is that it seems to be less fatal than regular delta
Chinese company Evergrande has made another interest debt payment of 45.2M avoiding default
President Biden is said to announce steps to relieve currency stockpiles of goods caught in supply chain issues to ease inflationary pressures

Market Overview

Key Points:
• Worldwide coronavirus cases surpass 244.753 million with over 4.968 million official deaths.
• New Zealand has 1256 active cases of coronavirus with 109 new cases yesterday. Meanwhile, the Australian State of New South Wales reported 294 new cases and 4 deaths yesterday with Victoria reporting 1461 new cases with 7 deaths
• German economic growth is predicted to slow significantly in the fourth quarter
• Ex-Fed chairman Alan Greenspan has waded in on the US inflation “transitory” debate and views a real threat of inflation remaining above 2% long-term
• A new Delta variant has experts worried in the UK with the new variant possibly more transmissible, it accounts for over 6% of all covid cases at a time when new cases are rising rapidly, the only positive news is that it seems to be less fatal than regular delta
• President Biden is to lift travel bans from November 8th
• Chinese firm Evergrande has made its interest payment obligations by paying more than 83.5M Friday but say they cannot guarantee future payments will be made
• UK Chancellor Sunak is set to raise the minimum wage from 8.91 to 9.45 Pounds Read more

Wednesday 27/10
1:30pm, AUD, CPI q/q
Forecast 0.80%
Previous 0.80%
1:30pm, AUD, Trimmed Mean CPI q/q
Forecast 0.50%
Previous 0.50%

Thursday 28/10
3am, CAD, BOC Monetary Policy Report
3am, CAD, BOC Rate Statement
4am, CAD, BOC Press Conference
Tentative, JPY, BOJ Outlook Report Read more

Key Points:

• Worldwide coronavirus cases surpass 241.814 million with over 4.919 million official
deaths.
• New Zealand has 652 active cases of coronavirus with 65 new cases yesterday. Meanwhile, the Australian State of New South Wales reported 273 new cases and 4 deaths yesterday with Victoria reporting 1749 new cases with 11 deaths
• Nasdaq moves to a new high of 15021 based on new Apple product launches
• Chinese CPI y/y third quarter comes in at 4.9% from 5.0% forecast
• US Treasury Secretary Yellen is to extend the incredible US debt management through to December after a small increase in the borrowing cap was announced last week
• Crude Oil continues to climb to 82.40 per barrel this morning as demand and shortages continue which could stoke inflationary pressures Read more

Monday
2:05am, GBP, BOE Gov Bailey Speaks
10:45am, NZD, CPI qq
Previous 1.50%
3pm, CNY, GDP q/y
Previous 5.00%

Tuesday
1:30pm, AUD, Monetary Policy Meeting Minutes

Wednesday
7pm, GBP, CPI y/y
Previous 3.20% Read more

• Worldwide coronavirus cases surpass 240.247 million with over 4.894 million official deaths.

• New Zealand has 617 active cases of coronavirus with 72 new cases yesterday. Meanwhile, the Australian State of New South Wales reported 406 new cases and 6 deaths yesterday with Victoria reporting 2297 new cases with 11 deaths
• Fed’s Harker is not expecting any rate hikes until late 2022 early 2023
• The New Zealand Dollar (NZD) is the strongest of the main currencies moving up 1.1%  
• US Inflation y/y rises to 5.4% from 5.3% and appears NOT transitory
• Crude Oil continues to climb to 81.40 per barrel this morning as demand and shortages continue which could stoke inflationary pressures
• ECB’s lagarde says upswing in the Eurozone inflation is driven by temporary elements
• The Peoples Bank of China Governor Yi Gang says Central Bank policy will be “prudent, flexible, targeted, reasonable and appropriate” as their inflation grows to 10.7% y/y the highest level in 25 years