- Federal Reserve speakers coming up: Waller (on crypto), Mester, Logan, Bowman
- Recap of Fed Williams comments - Inflation still 'too high,' Fed will act to lower it
- Australian business confidence in Q1 comes in at -4 (prior -1)
- PBOC sets USD/ CNY mid-point today at 6.8987 (vs. estimate at 6.8979)
- Australian Treasurer says will remove the power of Treasurer to overrule RBA decisions.
- China 1 and 5 year rates left unchanged, as widely expected
- Japan ex-MOF currency official says the BOJ should suprise markets with change to YCC
- RBA review recommends a board with more expertise
- Japan March Exports +4.3% y/y (expected +2.6%) & Imports +7.3% y/y (expected +11.4%)
- More from Fed's Williams - Imbalances still exist in labor markets, economic demand
- There is more inflation data to come from New Zealand later - RBNZ's own preferred measure
- WSJ: New York Fed President John Williams Signals Support for May Interest-Rate Increase
- Fed's Williams says inflation is still to high, Fed will act
- NZD/USD marked down following lower than expected (but still elevated) NZ CPI data
- New Zealand Q1 CPI 1.2% q/q (vs. 1.7% expected)
- The RBNZ have given a heads up for Dep Gov Hawkesby speaking (Friday 21 April)
- Fed's Goolsbee says he is still waiting to see if there are further credit events to drop
- The Bank of Japan (BOJ) will never make a move when the market expects it
- Forexlive Americas FX news wrap 19 Apr:The USD falls in US trading but still closes higher
- ECB's Schnabel spoke on Wednesday - repeated that underlying inflation remains 'sticky'
- ICYMI: Citigroup raised its 2023 global economic growth forecast, cut its 2024 forecast
- Reserve Bank of Australia Governor Lowe will be speaking to media today - live link
- Trade ideas thread - Thursday, 20 April 2023
- NASDAQ and S&P close little change for the 2nd consecutive day
New Zealand inflation data for Q1 (January – March) came in lower than the consensus expected and lower than in the previous quarter. The New Zealand dollar was marked lower on the release, NZD/USD dropping to around 0.6160 and its not much moved from there as I post.
Elsewhere across major-traded FX ranges have been very small indeed. USD/JPY popped above 134.90 but has since drifted back around 134.70 to be barely changed on the day.
Data flow was non-impactful otherwise. As was news flow.
We did have remarks from Federal Reserve officials, Goolsbee and Williams see bullets above). From the People’s Bank of China we had an as expected unchanged rate setting on 1- and 5-year Loan Prime Rates. The long-awaited review of the Reserve Bank of Australia was published with various recommendations but it barely nudged AUD.
Asian equity markets:
Japan’s Nikkei 225 +0.1%
China’s Shanghai Composite -0.6%
Hong Kong’s Hang Seng +0.1%
South Korea’s KOSPI -0.4%
Australia’s S&P/ASX 200 +0.01%
NZD/USD, 5 minute candles
