Blogs

<p>The US dollar is under some selling pressure, falling around 20 pips since the PPI report.</p><p>The data was a touch soft but the headlines highlight disinflationary pressure in the pipeline with the m/m number flat following a 0.4% decline in October. Given the declines in energy prices, December will surely be negative as we

<ul><li><a href="https://www.forexlive.com/news/us-october-ppi-13-versus-19-expected-20231115/" target="_blank" rel="follow">Prior </a>was +1.3% y/y</li></ul><ul><li>PPI final demand YoY 0.9% versus 1.0% expected</li><li>PPI final demand MoM 0.0% versus +0.1%

<p>USD/JPY is getting slammed on the USD side:</p><p><a href="https://www.forexlive.com/news/forexlive-americas-fx-news-wrap-2024-dot-falls-further-no-pushback-from-powell-20231213/" target="_blank" rel="follow" data-article-link="true">Forexlive Americas FX news wrap: 2024 dot falls f

<p>UBS analysts are casting a wary eye across bonds, saying there is likely to be only a modest upside now for both US and global equities. </p><p>They still are happy with higher quality stocks and bonds in 2024, expecting them to record higher than average growth against a backdrop of slowing economic growth.</p><p>F

<p>Via a note from RBC in response to the FOMC on Wednesday, this is their 'bottom line' summary:</p><ul><li>Alongside the decision to hold rates steady was the revised SEP that showed a more aggressive easing path in the years ahead with the timing of interest rate cuts now a topic of discussion. </li><li

<p>A huge miss on Q3 GDP in New Zealand:</p><ul><li><a href="https://www.forexlive.com/news/new-zealand-q3-gdp-03-qq-vs-02-expected-20231213/" target="_blank" rel="follow" data-article-link="true">New Zealand Q3 GDP -0.3% q/q (vs. +0.2% expected)</a></li></ul>&l

<p>Data for New Zealand economic growth in the July – September quarter of 2023 … is very ugly.</p><p>The priors were revised lower from 0.9% q/q and 1.8% y/y.</p><p>Stats NZ highlight the key drivers:</p><p>Downwards drivers -– change in production:</p><ul><li>Manufacturing wa

<p>Banco Central do Brasil says it'll cut by another 50bp at its next meeting also. </p><p>***</p><p>The "SELIC" rate, which stands for "Sistema Especial de Liquidação e de Custódia" (Special System for Settlement and Custody), is the Brazilian central bank's (Banco Central do Brasil) over

<p>A piece in Japanese media argues that the Bank of Japan may exit its negative rate policy sooner than expected, between January and March, due to the outlook now for Federal Reserve rate cuts on 2024.</p><p>Nikkei argues:</p><ul><li>The U.S. Federal Reserve signaled on Wednesday that it might cut rates three t

<p>High-priority data is due from New Zealand and Australia today. But … its all about the Fed right now isn't it? </p><p>The party mood that swept across 'risk' has seen AUD and NZD surge, and everything else risk of course:</p><ul><li><a href="https://www.forexlive.com/news/forexliv