- US' largest pension fund plans to vote to Replace Buffett as Berkshire Hathaway’s Chairman
- Chinese President Xi says cutting off supply & pressure tactics by any country won't work
- Chinese President Xi says the global economic recovery is fragile and weak
- China more than doubled imports of steel-making coal from Russia in March
- Heads up for more BOJ intervention next week (in the bond market)
- PBOC sets USD/ CNY central rate at 6.4098 (vs. estimate at 6.4134)
- BOJ intervention again (buying 10 year JGBs)
- US President Biden speaking Thursday 21 April 2022 on infrastructure and Ukraine
- Another very weak CNY reference setting is expected today, Thursday 21 April 2022
- China state (financial) press says the PBOC has room to cut rates (opinion piece)
- Australia prudential regulator outlines policy roadmap for crypto assets
- Nomura has slashed its China economic growth forecast for 2022 to 3.9% (from 4.3%)
- Modelling shows Australian coking coal exports to China could fall more than 20% by 2025
- Update - US Capitol Police say there is no threat to the Capitol
- New Zealand Q1 CPI +6.9% y/y (expected +7.1%)
- U.S. Capitol being evacuated due to possible aircraft threat
- IMF weighs in on the yen slump - driven by fundamentals (... Ya think???)
- NZD/USD drop to 0.65 seen (thanks, Fed) before higher in the second half of 2022
- BoA on negatives for Chinese equities (but have they missed positives?)
- French presidential election has Macron well in front of Le Pen
- Here's the 'secret' data release the Reserve Bank of New Zealand will be watching today
- Trade ideas thread - Thursday 21 April 2022
- Forexlive Americas FX news wrap: USD corrects lower after the recent run higher stalls.
- Tesla earnings, beats
The US dollar is generally a little firmer across the major FX board today, with USD/JPY a notable mover back towards 128.50 (well shy of its highs into the 129s on Wednesday). There was no catalysing move for the USD/JPY gains, market volatility is providing the swings.
NZD/USD was another notable mover. Q1 CPI data was released today, coming in at a 3 decade high (but under survey expectations). There is another inflation reading due from NZ soon, the Reserve Bank of New Zealand’s Sectoral Factor Model, the Bank’s preferred measure of core inflation (see bullets above).
It was another weak setting for onshore yuan (i.e. strong USD/CNY) from the People’s Bank of China today. On Wednesday the PBOC set the CNY weaker than expected, but today it did not do so (it was set slightly stronger than expected). The onshore yuan was set at its lowest reference rate since November 11 last year.
NZD/USD, arrow points to CPI release response:
