China published mixed economic data noting a slowdown in a year-over-year comparison, but some of the data exceeded expectations. The Chinese renminbi has been on the offensive against the US dollar for the past week, bringing USDCNH back to test the lows of the past six months. The economy gre

That is up from 33 cases the day before. But while travel curbs – especially to Beijing – have been imposed, the city of 14 million is managing to avoid a total lockdown for the time being. That said, there are plenty of road closures and public transport limitations with 64 of the city’s 87 bus ser

Overall momentum of China’s economy is soundChina will continue with reform and opening upWorld economy still faces constraintsThe world has found itself in a new period of turbulence and transformationCountries should strengthen economic policy coordinationThose are rather general remarks but they

The Reuters report says that this in part efforts to move attention away from the events in Downing Street as of late, as Boris Johnson looks to reset his agenda after coming under fire over the party he attended during lockdown in 2020.The removal of „Plan B“ would appease many in the Tory party, s

A weekend series of tweets from Bill Ackman, founder and CEO of Pershing Square Capital Management:

Ackman is not alone in urging a rate hike of 50bps as soon as March. The labour market has improved and last week US headline CPI was reported at 7% y/y, its highest in nearly four decades (

Engineering a soft landing is one of the most-difficult tasks a macro policymaker can undertake but it’s what Chinese officials have been trying to do in housing.
Saturday’s Chinese home price data underscores the risks with prices up 2.6% y/y in a deceleration from 3.0% y/y in November.
As recently

Omicron has arrived in Beijing ahead of the Olympics.
City officials said today that a woman from Haidian district reported having a sore throat on Thursday
and a fever a day after. She tested positive for Covid-19 on Saturday
morning. She hadn’t left the city in the prior two weeks

The major US stock indices are closing mixed, but both the NASDAQ and the S&P index erased declines and are closing near the highs for the day. For the week, the major indices are all lower. The Dow closed lower and was down for the second straight dayNASDAQ closes higher despite higher yields with

US December retail sales -1.9% vs 0.0% expected
January prelim UMich consumer sentiment 68.8 vs 70.0 expected
ECB’s Lagarde: Monetary accommodation is still needed for inflation to settle at 2% over the medium term
Jamie Dimon: There could be six or seven rate hikes this year
Fe

EURUSD on the 4-hour chart

The EURUSD moved lower and lower today. In the process, the pair moved below what was a swing area going back to November. That area held earlier in the week.  
Moving below, increased the bearish bias and kicked the price lower. 
Looking at the 5 minute char