The RBNZ is the most bullish major central bank. Exports up, GDP projected to grow, unemployment at multi year lows, house prices high, inflation at multi year highs, the RBNZ voicing desires for a stronger NZD and projected to hike to 2.6% by December 2023. This was brought forward from Q1 2024 at

There are mixed forces for gold. Seasonals are very strong with the end of December through to the end of February being very strong for gold. However, if real yields break higher on a hot CPI print gold looks vulnerable to falls. 

Note that the monthly gold chart has a very bearish patte

Central Bank of the Republic of Turkey announced intervention in the market earlier this am saying they were selling transactions ‚due to unhealthy formations in exchange rates‘. 

Livesquawk asking is the CBRT defending 14.00 in USD/TRY? Certainly looks like it. Intraday priced pulled back on

The strongest currencies today are the AUD and the USD (DXY just hit session highs). The AUD has been the strongest this week after the RBA met this week and were far more neutral than dovish. The cash rate was kept at 0.10% as expected. The QE program is set to remain at $4 billion per w

Prior to the hikes this year, you’d have to go all the way back to May 2007 for the last time the PBOC actually increased the RRR for foreign currency deposits. The latest move brings the reserve ratio to 9% as the central bank looks to try and curb excessive yuan strength.
For some context, the yua

The cryptocurrency market capitalisation rose slightly, by 0.4%, to 2.36 trillion in the past 24 hours. The cryptocurrency Fear & Greed Index added another 1 point overnight to 29, a significant retreat from the December 6 lows of 16 points, but still in the fear zone. Binance Coin, XRP and Luna hav

As mentioned earlier in the week, one can expect the WHO to only say anything remotely factual after vaccine makers have shared their detailed findings in the next week or two.Pfizer’s news yesterday was encouraging but there will surely be more twists and turns along the way.If anything, I would ex

Just a couple to take note of as highlighted in bold and they are all pertaining to USD/JPY.There’s a few layers of expiries from 112.90 through to 113.70 that may play a role in limiting price action. That said, the technicals themselves are also doing the job in that regard.As such, the expiri

ECB hawks pushing for no APP purchases increase appear ready to compromise
They fear doing nothing risks market turbulence
ECB intends to bolster APP purchases next year once PEPP ends
But there would be limits to size and time of commitment
Open-ended increase in APP purch

A two-dose vaccine is significantly much less effectivePfizer, BioNTech working on omicron-specific vaccineHopes to have that available by MarchAnd with that, is the omicron saga already dead on arrival?The details of Pfizer’s revelation shows that a third dose increased antibodies 25-fold as compar