- S&P says pronounced downturn in labour market could push eurozone economy into recession
- ICYMI – HSBC have boosted its Brent oil forecasts higher for 2023 an 2024
- Dow Jones Technical Analysis – Key trendline got breached
- HSBC cut its forecast for China GDP growth in 2023 and 2024 – see the PBOC easing further
- Japan PM Kishida says excessive FX moves are undesireable
- Japan PM Kishida says on Tuesday he’ll instruct ministers to prepare an economic package
- US equity index futures getting smashed in Europe morning time
- Barclays month end rebalancing model is expecting solid US dollar buying
- Russell 2000 Technical Analysis – Key support got breached
- Germany’s 10-year bond yield rises to its highest since July 2011
- News wires reporting that the Russian government approves tweaks to fuel export ban
- Germany September Ifo business climate index 85.7 vs 85.2 expected
- ECB Villeroy: rates says should remain at this level for sufficiently long period of time
- Bank of Japan Gov Ueda says the Bank won’t directly target FX in guiding monetary policy
- ECB’s De Cos says must avoid both insufficient and excessive tightening
- ECB Villeroy: risk of doing too much & risk of doing too little now symmetrically balanced
- Coal mine fire in Southern China’s Guizhou Province kills 16 people
- Gold Technical Analysis – The uncertainty remains very high
- Bank of Japan Governor Ueda says important for FX to move stably reflecting fundamentals
- European Central Bank’s Kazaks says Bank’s hike in September may allow a pause in October
- BOJ Dep Gov Uchida says need to closely watch FX markets
- More from Bank of Japan Governor Ueda: Aware of the impact of weak yen on firm earnings
- Brent oil price could surge as high as US $150 / barrel says JP Morgan
- Goldman Sachs says in the middle of the worst seasonal equity period of the year right now
- S&P 500 Technical Analysis – Key levels in play
- ECB speakers for Monday 25 September include Villeroy, Schnabel, and President Lagarde
- Bank of Japan Governor Ueda speech, full text. Patiently maintaining monetary easing.
- Beijing-based developer China Oceanwide Holdings declared bankrupt in Bermuda
- Singapore August inflation data: Headline CPI +4.0% y/y (expected was also +4.0%)
- FT reports that a senior Nomura banker has been banned from leaving mainland China
- FX option expiries for 25 September at the 10am New York cut
- Trade ideas thread – Monday, 25 September 2023 – Europe / UK session
- Forexlive Asia-Pacific FX news wrap: China property worries return
Rising
yields once again sent equity indexes lower. After a small gain
during Asia time US equity indexes tumbled sharply lower during the
European morning. The USD rose, most notably against EUR, GBP, CHF
and JPY. AUD, NZD and CAD didn’t drop nearly as much.
Data
flow was very light. We did get the September update for the German
Ifo indexes, still at very subdued levels.
There
were plenty of central banker comments, Villeroy, de Cos, and Kazaks
from the European Central Bank while Bank of Japan Governor Ueda
and Deputy Governor Uchida hit the news wires also. Ueda and Uchida
made some remarks aimed at supporting the yen. They were joined by
Japanese Prime Minister Kishida attempting the same. USD/JPY shrugged
all of it off to trade higher.
US equity index futures were slammed lower:
This article was written by Eamonn Sheridan at www.forexlive.com.