Getting closer to the 100 and 200 day MAs The S&P index has pushed higher and is trading to a new session high for the day at 2964.21. The index is still short of the high from yesterday at 2968.09, but earlier in the day, the index reach a low of -0.55%. We currently trade up […]
Blogs
GBPUSD makes a break for it….
Moves above 200 hour MA and 50% retracement at 1.2269 The GBPUSD is making a break for it. That is the pair is breaking above its 200 hour MA and 50% retracement at 1.2269 level.
EURUSD trades to a NY session low
Trades in a swing area going back to April 30 The EURUSD is trading at a new NY session low. In the process, the price is trading in a swing area in the 1.09201 to 1.09262 going back to April 30. Yesterday, and into the Asian session today, the price stalled against the area, then […]
FX option expiries for Wednesday May 20 at the 10am NY cut
EUR/USD USD/JPY GBP/SD USD/CAD NZD/SD See here for global coronavirus case data
Federal Reserve FOMC minutes due Wednesday – preview
Federal Open Market Committee minutes due at 1800GMT on 20 May 2020 Monetary policy was left unchanged at the April meeting. The minutes will be scoured for any clues or discussions that that took place on any new potential policies theBank is considering, and what the Committee had to say, if anything, on negative rates.
China loan prime rates (May) set as expected: 1 year at 3.85% and 5 year at 4.65%
Unchanged for the LPR this month – There was no expectation of a cut in either of these. The LPR is set in reference to the rate on the PBOC's medium-term lending facility (MLF)
RBA skips QE government bond buying again today
No bond buying from the Reserve Bank of Australia today They have not bought bonds for their QE programme since the week of May 6 'Da fuq???' See here for global coronavirus case data
PBOC sets USD/ CNY reference rate for today at 7.0956 (vs. yesterday at 7.0912)
People's Bank of China onshore yuan rate for the session ahead – permitted to trade +/1 2% either side – USD/CNH can trade beyond these limits though PBOC skips OMOs today
RBNZ Gov Orr says does not want to use negative rates at this this point
Reserve Bank of New Zealand Governor Orr – not want to go to negative rate at this point – prepared to go negative but a lot later Speaking with Bloomberg
Goldman Sachs says negative interest rates in the US are unlikely any time soon
A client note from GS on their outlook on the prospect of a negative rate from the Federal Reserve. – unlikely that negative rates will be implemented in the U.S. any time soon, hurdle remains high GS says applying the usual model the Fed uses to set rates would call for negative rates and GS […]