- Morgan Stanley says the US is in a disinflationary process, lower their inflation forecast
- European Central Bank speakers on Monday include de Guindos and Panetta
- UBS forecast USD/JPY at 142 by the end of the year - BOJ could move 'sooner than expected'
- China Evergrande shares dump 25% in HK after police detained some wealth management staff
- EUR/USD danger zone for further losses just under 1.0635
- PBOC sets USD/ CNY reference rate for today at 7.1736 (vs. estimate at 7.2707)
- Singapore August exports fall more than expected
- New Zealand economists expect 2023/24 GDP at 0.4%, from 0.6% previously - NZIER survey
- Former JPMorgan gold trader sentenced to 6 months in prison on spoofing charge
- UK data - Rightmove House Price Index +0.4% m/m (prior -1.9%)
- US Auto Workers strike continues. A 21% pay increase was made and rejected.
- Brent - the oil price is "exposed to further price spikes in 2024"
- New Zealand Services PMI for August 47.1 (prior 48.0)
- USD/JPY has closed its gap made on BOJ Gov Ueda's comments on potential change of policy
- Chinese police detain Evergrande’s wealth management staff
- China's weak yuan has cost already troubled Chinese property developers $3bn
- Week Ahead highlights include lots of central banks - FOMC, PBoC, BoJ, BoE among them
- French government plans to allow the sale of fuel at a loss to help contain inflation
- Weekend - Goldman Sachs strategists expect a Federal Reserve spoof at this week's meeting
- Trade ideas thread - Monday, 18 September 2023
- Monday morning open levels - indicative forex prices - 18 September 2023
- Weekly Market Outlook (18-22 September)
- Forexlive Americas FX news wrap 15 Sep: US dollar moves higher helped by higher rates.
Asia FX kicked off the week in waiting mode, this week for the barrage of central bank decisions including those from the Fed, BOJ, BOE and SNB. Major forex rates moved in limited ranges only.
On the news front there is no imminent resolution in sight to end a strike by US United Auto Workers. Negotiations between the union and GM, Ford and Stellantis are continuing.
China’s stock markets absorbed the news that Shenzen police had detained some staff from Evergrande’s wealth management unit. Evergrande is one of China's massively indebted property developer firms in the maelstrom of a property market crisis that is dragging on China’s economic growth. The group is undergoing a restructuring plan, including offloading assets, to avoid defaulting on $340 billion in debt. Shares in the firm dropped 25% today. China's benchmark CSI 300 Index fell to its lowest level this year. Hong Kong shares fell also.
Oil prices rose to open the week.
Asian equity markets:
Japan was closed for a holiday today
China’s Shanghai Composite -0.01%
Hong Kong’s Hang Seng -0.9%
South Korea’s KOSPI -0.9%
Australia’s S&P/ASX 200 -0.6%
