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👤Lisa Harris
🕔September 5, 2016
The US and China on Sunday agreed afresh to desist from competitive currency devaluations, as China stated that they would maintain an orderly transition to a market-oriented exchange rate for the yuan. In a joint “fact sheet” which was issued a day after the US President Barack Obama and his China’s President Xi Jinping held talks, it was stated that the 2 countries had agreed “not to unnecessarily limit or prevent commercial sales opportunities for foreign suppliers of ICT (information and communications technology) products or services”.…
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👤Nurudeen Amedu
🕔September 5, 2016
The Bank of Japan (BOJ) Governor Haruhiko Kuroda has recently implied that there are no “limits” to monetary easing, as he creates the need for officials’ comprehensive assessment of the Japanese economy later this month.
“It is often argued that there is a “limit” to monetary easing, but I do not share such a view.…
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👤Xinyang
🕔September 5, 2016
News Event
From Trading Economics: The Caixin China Services PMI rose to 52.1 in August of 2016 from 51.7 in July as new orders grew modestly while employment stabilised and business expectations rose the most in six months. At the same time, firms saw a marginal rate of cost inflation that was the slowest since January 2015.…
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Australian GDP Growth to Weaken in the Second Quarter
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👤Lisa Harris
🕔September 4, 2016
A large number of market analysts currently share an opinion that a slowing was shown by Australia’s economic growth in the second quarter of 2016. These market analysts including central bank economists, believe that Australian Q2 GDP growth will be a fraction of the rate seen in the first quarter.…
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Weekly Outlook for September 5th to 9th
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👤Nurudeen Amedu
🕔September 4, 2016
The US employment data release last week was disappointing as growth was seen to have slowed down more than expected for the month of August after it had previously experienced two consecutive months of significant gains. The Non-Farm Payrolls grew by 151, 000, less than analysts’ forecasts for an increase of 180,000 in jobs.…
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👤Arthur Greene
🕔September 3, 2016
Consumer prices in Japan have reported another slump for the fifth consecutive month in July as it further challenges the Prime Minister Shinzo Abe’s attempts to combat deflation and restore strength to the world’s third largest economy. A 0.5% fall in consumer prices for the month of July was shown by figures released on Friday, much worse than the 0.4% fall seen in the month of June and the biggest annual slump in consumer prices for more than 3 years.…
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Fundamental and Technical Outlook: Dollar Index
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👤Xinyang
🕔September 3, 2016
Fundamental Outlook: Dollar Index
In a week dominated by USD buying, yesterday’s US payrolls initiated a strong sell off as the headline number missed consensus to print 151k for Aug, along with an unchanged rate of 4.9% (median f/c 4.8%). We saw the USD hit hard in the immediate aftermath of the release, but led by USD/JPY, which fell from the mid 103.00’s, the pair found strong demand to reclaim 103.00, going on to push through 104.00, with highs above 104.25 printed into the London close.…
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👤Xinyang
🕔September 3, 2016
News Event
From Trading Economics: Total nonfarm payroll employment in the United States increased by 151,000 in August of 2016, lower than an upwardly revised 275,000 in July but below market expectations of 180,000. Employment continued to trend up in several service-providing industries while it declined in manufacturing, mining and construction
“The August employment report was not a disaster but it was just weak enough that any chance that Janet Yellen and her band of doves might think about surprising us and raising rates later this month just went out the window,” said Stephen Stanley, chief economist at Amherst Pierpont Securities
Overview of Currencies
USD: The Federal Reserve are most likely to leave their current policy unchanged at their next meeting as inflation data has yet to show the necessary improvement needed to warrant additional hikes.
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👤Nurudeen Amedu
🕔September 3, 2016
Comments made by Richmond Fed President Lacker held implications that the Fed Funds rate should be much higher than it is now. He however said that he was still weighing his options concerning the issue of a September rate increase, further adding that the US economy will need much higher interest rates, unless there is a considerable amount of slowing in job growth.…
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👤Arthur Greene
🕔September 2, 2016
US factory orders posted its biggest growth in 9 months for the month of July, after being heavily boosted by a major growth in the demand for commercial air crafts. The very significant measure of business investment plans reported its biggest increase since January.…
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Lacker Raises Hopes for a Rates Hike
👤Nurudeen Amedu 🕔September 3, 2016Comments made by Richmond Fed President Lacker held implications that the Fed Funds rate should be much higher than it is now. He however said that he was still weighing his options concerning the issue of a September rate increase, further adding that the US economy will need much higher interest rates, unless there is a considerable amount of slowing in job growth.…
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