- ANZ sticks to their forecast for a November 2024 interest rate cut from the RBA
- BOJ Governor Ueda will be keen to avoid the mistake of his predecessor, Kuroda, on Friday
- South Korea regulator head says does not know when to remove the short selling ban
- Japan chief cabinet secretary Hayashi: rapid FX moves undesirable, ready for full response
- ECB Board member Schnabel speaks on monetary policy on Thursday
- JP Morgan's proprietary US Tactical Positioning Monitori points to promising S&P 500 setup
- PBOC sets USD/ CNY reference rate for today at 7.1058 (vs. estimate at 7.2472)
- The pace of the drop in the JPY not particularly alarming for the BOJ at this point
- Japan finance minister Suzuki says he won't comment on FX levels
- Potential Bank of Japan yen intervention on Friday: USD/JPY on the radar
- Australia's inflation nightmare - Australia's inflation rate is the highest globally
- Goldman Sachs raises Brent crude oil price forecasts for 2024 and 2025
- Suez Canal shipping chaos: Iran-linked Houthi terrorist attacks spark inflation concerns
- US data focus for Monday - Q1 advance GDP - the range of expectations to watch (and why)
- Czech central bank vice-governor sees a rate cut, perhaps as much as 50bp, at next meeting
- Goldman Sachs are looking for a blockbuster Q1 GDP number, way higher than everyone else
- S&P 500 rate of earnings surprises the highest since Q3 2021
- BOA predicts USD/JPY surge to 160 as BoJ stands helpless
- A summary of the major earnings after the close. Chipotle, Ford higher. Meta gets hammered
- Latest China crackdown ICYMI - brokers told to limit exposure to "snowball" derivatives
- ServiceNow EPS $3.41 vs. $3.14 est. Revenues $2.60 billion vs.$2.59 billion est
- IBM EPS $1.68 vs $1.59. Revenues $14.46 billion vs $14.52B est.
- Chipotle EPS $13.37 vs $11.66 est. Revenues $2.70 billion vs $2.67B est.
- Forexlive Americas FX news wrap: USD/JPY cracks 155
- Meta Platforms EPS $4.71 vs $4.32 est. Revenues $36.46B vs $36.1B est.
- Trade ideas thread - Thursday, 25 April, insightful charts, technical analysis, ideas
It was a light day for data and news flow.
Yen was once again a focal point, with USD/JPY rising to 155.50 after breaking 155.00 during US time on Wednesday. We had some jawboning from Japanese officials that failed to halt the rise. The Bank of Japan meet on Friday, the statement (due some time around 0230 to 0330 GMT / 2230 to 2300 US Eastern time) will be followed a few hours later (0630 GMT / 0230 US Eastern time) by Bank of Japan Governor Ueda’s news conference. Speculation continues that there will be intervention, but that's been the case for months now. Ueda may well take the opportunity to sound a little more hawkish and support the yen in that way.
Elsewhere across major FX the moves have been held to tight ranges awaiting UP GDP data on Thursday and PCE inflation on Friday.
Gold dropped back under 2310.
Meta’s stock price dived after its earnings announcement. The firm beat consensus expectations for both sales and earnings. Concerns included a lighter-than-expected sales forecast for the current quarter, and raised guidance for total expenses, citing infrastructure investments needed to support its "AI road map”.
