- Former BOJ official says the BOJ will keep its easy policy for many quarters ahead
- Weekend - Iran says new round of talks to revive the 2015 nuclear deal are being finalized
- Weekend - Bezos accuses Biden administration of misdirection or misunderstanding inflation
- China - PBOC increased currency swap favility with HK to 800bn yuan (prior 500bn yuan)
- Australian Building Permits data for May +1.5% m/m (expected -1.8%) & +9.9% (sa)
- Australian job advertisements increased 1.4% m/m in June
- PBOC sets USD/ CNY reference rate for today at 6.7071 (vs. estimate at 6.6982)
- Australian monthly inflation data: +4.7% y/y (prior +4.8%)
- China virus cases climbing - eastern province of Anhui the latest centre
- AUD approaches Tuesday's RBA meeting with mostly headwinds - not much rebound expected
- 6-month forecasts for FX vs. the USD - greenback strength to persist to the middle of 2023
- Deeper FX mkts make speculative currency attack less easy (today's "hold my beer" news)
- Weekend - China property developer Shimao did not make offshore payments due (circa $1bn)
- Weekend - "Iran Slashes the Cost of Its Oil"
- CBA forecasts AUD/USD as low as 0.62
- Reminder - It's a US holiday on Monday, 4 July 2022 - here are futures trading hours
- US media - "Bill to grant crypto firms access to Federal Reserve ... "
- Germany: "entire industries are in danger of permanently collapsing" (re Russian gas cuts)
- Trade ideas thread - Monday, 4 July 2022
- FT says the "ECB to discuss blocking banks from multibillion-euro windfall as rates rise"
- Monday morning open levels - indicative forex prices - 04 July 2022
- Here is what could send the price of oil to $380 / barrel - JP Morgan on Russia revenge
- Newsquawk week ahead: Highlights include US jobs data, FOMC and ECB minutes, RBA
- This is a Crazy Crypto Trade Idea...
- Forexlive Americas FX news wrap: Dollar and bonds go for a wild ride
The July 4 Independence Day holiday long weekend in the US sapped interest during the Asian time zone today. Major FX ranges stayed confined mainly to lacklustre ranges.
USD/JPY did drop under 135.00 again during the session. Lows under 134.90 were rejected though and as I update USD/JPY is back just over 135.00.
Bitcoin was fairly steady (for crypto) over the weeknd. BTC/USD did manage to rise above $19500 on Sunday (US time) but has since dribbled back to be circa $19200 as I post.
A notable news item from the weekend was a warning for the head of Germany’s trade unions of the ‘permanent’ collapse of industry should Russian gas supplies be cut. This is not really ‘news’ to anyone, but its indicative of mounting fear.
US futures hours at the CME for the holiday weekend:
