- China Q1 trade data: Exports +13.4% and imports +7.5%
- Gold price forecast (& support/resistance levels)
- NZD/USD higher after the larger than expected interest rate hike from the RBNZ
- RBNZ announce a 0.5% interest rate hike, more than the 0.25% widely expected
- Japan finance minister Suzuki says fx stability is important
- ICYMI - China is encouraging long-term investors, major shareholders to buy more stocks
- PBOC sets USD/ CNY central rate at 6.3752 (vs. estimate at 6.3748)
- New Zealand to further reduce coronavirus restrictions from midnight
- China coronavirus - new cases for April 12 top 28,000
- Vitol says it will stop trading Russian oil
- Australia – Westpac Consumer Confidence Index for April: -0.9% m/m (prior -4.2%)
- TD on gold - China buying supports while Fed tightening does not
- Japan data: Core machinery orders -9.8% m/m (-1.5% expected)
- New Shanghai COVID-19 cases top 26K again
- More from Fed's Barkin, says firms are aware they have significant pricing power this year
- Russia says oil prices in range of $80 to $150 / barrel are possible
- Goldman Sachs Reserve Bank of New Zealand preview - see a 20% chance of a 50bp rate hike
- Reuters Tankan manufacturers’ sentiment index: 11 in April (from 8 in the previous month)
- Fed's Barkin says rates should move rapidly higher to neutral
- New Zealand March Food Price inflation +0.7% m/m
- Both Goldman Sachs and JP Morgan says the US has hit 'peak inflation'
- Biden owns it - "I called it genocide, the evidence is mounting"
- Biden administration looking to send Mi-17 helicopters (and more) for Ukraine
- Cryptocurrency expert sentenced to 63 months in prison
- ICYMI - US Pentagon is considering Ukraine’s requests for more advanced weapons
- US President Biden says Putin committing genocide
- Pentagon to meet with top 8 US weapons makers to meet on Ukraine
- Trade ideas thread - Wednesday 13 April 2022
- The US is planning another $750mn in additional weapons for Ukraine
- ICYMI - Toyota will slash vehicle production in May due to supply chain disruption
- Private oil inventory survey from the US shows headline crude build far above expected
- The 3 major stock indices give up solid gains and close lower
- Forexlive Americas FX news wrap: The 'peak inflation' trade didn't last long
It was a relatively subdued session here in Asia. Early trade saw the USD gain a little but as I post that’s been unwound and now EUR, GBP, CAD, AUD and NZD are all net higher against the big dollar. But, ranges have not been large.
USD/JPY is up, JGB yields have dipped a little while UST yield remains strong. We had more yen-supportive comments out of Japan (Minister of Finance Suzuki) again today but, so far at least, there has been little yen-positive result.
The Reserve Bank of New Zealand rasied its Official Cash Rate (OCR) by half a percent today, compared to the consensus expectation of a quarter-point hike. NZD/USD was marked higher, tipping 0.6900 (just above) but has not managed to sustain the level and is, as I post, only up a touch on the day. Its over to the Bank of Canada now (Wednesday CAD time) for their expected 50bp hike.
NZD/USD 15 minute candles. The arrow points to the jump on the RBNZ announcement:
