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Recruitment & Employment Confederation's survey 

  • business confidence +21 to a net reading of +11
  • highest level since July 2016
"This surge in employers' confidence in the UK economy is remarkable," Neil Carberry, REC chief executive, said.

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Wed 23 Jun 2021 01:41:02 GMT

Australian preliminary trade data for May, exports up 11% m/m

The trade surplus hit a record high at A$13.3 billion  •    Exports of goods in May 2021 increased $3,794m (11%) to $39,208m•    Imports of goods in May 2021 increased $146m (1%) to $25,892m

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Australian preliminary trade data for May, exports up 11% m/m


https://az705044.vo.msecnd.net/20210623/australia-china-exports.png Eamonn Sheridan
Wed 23 Jun 2021 01:41:02 GMT
Category: News
0


The trade surplus hit a record high at A$13.3 billion  •    Exports of goods in May 2021 increased $3,794m (11%) to $39,208m•    Imports of goods in May 2021 increased $146m (1%) to $25,892m

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Wed 23 Jun 2021 01:37:43 GMT

Bitcoin adding on some gains, highs hit above $34K

BTC/USD is now up over $5,000 from its Tuesday US time lows. 

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Bitcoin adding on some gains, highs hit above $34K


https://az705044.vo.msecnd.net/20210623/btc-23-june-2021.png Eamonn Sheridan
Wed 23 Jun 2021 01:37:43 GMT
Category: Cryptocurrency
0
BTC/USD is now up over $5,000 from its Tuesday US time lows. 

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Wed 23 Jun 2021 01:28:55 GMT

Coronavirus - Taiwan set to extend its lockdown through to July 12

Taiwan's shut down is 'soft', not as harsh as elsewhere. Local media (TVBS, a Taiwanese commercial television broadcaster reports plans are afoot to extend to July 12.

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Coronavirus - Taiwan set to extend its lockdown through to July 12


Eamonn Sheridan
Wed 23 Jun 2021 01:28:55 GMT
Category: News
0
Taiwan's shut down is 'soft', not as harsh as elsewhere. Local media (TVBS, a Taiwanese commercial television broadcaster reports plans are afoot to extend to July 12.

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Wed 23 Jun 2021 01:15:19 GMT

PBOC sets USD/ CNY mid-point today at 6.4621 (vs. yesterday at 6.4613)

The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.   PBOC injects 10 billion yuan liquidity via 7-day reverse repo

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PBOC sets USD/ CNY mid-point today at 6.4621 (vs. yesterday at 6.4613)


Eamonn Sheridan
Wed 23 Jun 2021 01:15:19 GMT
Category: Central Banks
0
The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.   PBOC injects 10 billion yuan liquidity via 7-day reverse repo

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Wed 23 Jun 2021 01:05:58 GMT

Australia's largest city of Sydney seeing accelerated new COVID-19 cases - further restrictions incoming

+13 since 8pm last night, a significant jump (for Sydney). This 13 will, officially, be included in the numbers tomorrow.  This will prompt further tightening in restricitons.

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Australia's largest city of Sydney seeing accelerated new COVID-19 cases - further restrictions incoming


Eamonn Sheridan
Wed 23 Jun 2021 01:05:58 GMT
Category: News
0
+13 since 8pm last night, a significant jump (for Sydney). This 13 will, officially, be included in the numbers tomorrow.  This will prompt further tightening in restricitons.

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Wed 23 Jun 2021 00:52:02 GMT

AUD traders heads up for an RBA speaker soon and why it will likely be significant

At  0315 GMT the Reserve Bank of Australia's Luci Ellis, Assistant Governor (Economic) will be speaking. I don't have a topic as yet for this speech. Ellis heads the economics team at the RBA so its very likely she will have something to say on the labour market, and do note she is the first speaker we have had from the RBA since last week's white-hot jobs report:

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AUD traders heads up for an RBA speaker soon and why it will likely be significant


https://az705044.vo.msecnd.net/20200131/rba.png Eamonn Sheridan
Wed 23 Jun 2021 00:52:02 GMT
Category: Central Banks
0
At  0315 GMT the Reserve Bank of Australia's Luci Ellis, Assistant Governor (Economic) will be speaking. I don't have a topic as yet for this speech. Ellis heads the economics team at the RBA so its very likely she will have something to say on the labour market, and do note she is the first speaker we have had from the RBA since last week's white-hot jobs report:

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Wed 23 Jun 2021 00:30:48 GMT

Japan preliminary PMI (June): Manufacturing 51.5 (prior 53.0) & Services 47.2 (prior 46.5)

Japan Jibun Bank / Markit preliminary PMIs for June Services inching higher and still showing contraction at 47.2

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Japan preliminary PMI (June): Manufacturing 51.5 (prior 53.0) & Services 47.2 (prior 46.5)


Eamonn Sheridan
Wed 23 Jun 2021 00:30:48 GMT
Category: News
0
Japan Jibun Bank / Markit preliminary PMIs for June Services inching higher and still showing contraction at 47.2

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Wed 23 Jun 2021 00:25:30 GMT

China financial press says China should be alert to the risks of a falling yuan

China Securities Journal with the piece, a note on China should be alert to risks regarding yuan depreciation. Yuan has fallen in the past week or two (chart below is offshore yuan, CNH ...  a rising USD/CNH is a depreciating CNH) but its difficult to think this has Chinese authorities too concerned, its barely retraced some of its 2020 gains.  Still, maybe its a signal the recent fall will not be allowed to accelerate. 

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China financial press says China should be alert to the risks of a falling yuan


https://az705044.vo.msecnd.net/20210623/cnh-depreciation.png Eamonn Sheridan
Wed 23 Jun 2021 00:25:30 GMT
Category: Central Banks
0
China Securities Journal with the piece, a note on China should be alert to risks regarding yuan depreciation. Yuan has fallen in the past week or two (chart below is offshore yuan, CNH ...  a rising USD/CNH is a depreciating CNH) but its difficult to think this has Chinese authorities too concerned, its barely retraced some of its 2020 gains.  Still, maybe its a signal the recent fall will not be allowed to accelerate. 

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Tue 22 Jun 2021 23:57:59 GMT

BOJ minutes - inflation pick up likely to lack strength

Bank of Japan April meeting minutes, full text is here Yen is not bothered, barely moving. As I said earlier, the minutes are preceded by the 'Summary of Opinions' by many weeks. 

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BOJ minutes - inflation pick up likely to lack strength


Eamonn Sheridan
Tue 22 Jun 2021 23:57:59 GMT
Category: Central Banks
0
Bank of Japan April meeting minutes, full text is here Yen is not bothered, barely moving. As I said earlier, the minutes are preceded by the 'Summary of Opinions' by many weeks. 

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Tue 22 Jun 2021 23:41:14 GMT

CBA now forecasting the RBA to hike rates from November 2022

Commonwealth Bank of Australia shifting their projected hike schedule forward alongside other major Australian banks that have already done so.  Says the Reserve Bank of Australia to hike beginning in November 2022. CBA citing (bolding mine):

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CBA now forecasting the RBA to hike rates from November 2022


https://az705044.vo.msecnd.net/20190604/australia-big-four-nab-anz-cba-westpac.png Eamonn Sheridan
Tue 22 Jun 2021 23:41:14 GMT
Category: Central Banks
0
Commonwealth Bank of Australia shifting their projected hike schedule forward alongside other major Australian banks that have already done so.  Says the Reserve Bank of Australia to hike beginning in November 2022. CBA citing (bolding mine):

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Tue 22 Jun 2021 23:32:52 GMT

1

Japan is considering tighter regulation of foreign interests in tech, defence firms

Japan media, Yomiuri, with the report (via Reuters). I wonder if this is aimed at China specifically?

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Japan is considering tighter regulation of foreign interests in tech, defence firms


Eamonn Sheridan
Tue 22 Jun 2021 23:32:52 GMT
Category: News
1
Japan media, Yomiuri, with the report (via Reuters). I wonder if this is aimed at China specifically?

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Tue 22 Jun 2021 23:10:58 GMT

Bank of England monetary policy meeting Thursday 24 June 2021 - preview

Earlier previews of the June BoE meeting can be found here: Adding in this from UBS now (in brief from a longer note): BoE Gov Bailey:

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Bank of England monetary policy meeting Thursday 24 June 2021 - preview


https://az705044.vo.msecnd.net/20191220/andrew-bailey-boe.png Eamonn Sheridan
Tue 22 Jun 2021 23:10:58 GMT
Category: Central Banks
0
Earlier previews of the June BoE meeting can be found here: Adding in this from UBS now (in brief from a longer note): BoE Gov Bailey:

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Tue 22 Jun 2021 23:00:37 GMT

Australia Markit preliminary PMI (June) Manufacturing 58.4 (prior 60.4) & Services 56.0 (prior 58.0)

Australian data - the Markit preliminary PMIs for June 2021 Manufacturing 58.4Services 56.0Composite 56.1 Solidly in expansion for all these.  Markit commentary:

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Australia Markit preliminary PMI (June) Manufacturing 58.4 (prior 60.4) & Services 56.0 (prior 58.0)


https://az705044.vo.msecnd.net/20210622/australia-pmi-gdp-23-june-2021.png Eamonn Sheridan
Tue 22 Jun 2021 23:00:37 GMT
Category: News
0
Australian data - the Markit preliminary PMIs for June 2021 Manufacturing 58.4Services 56.0Composite 56.1 Solidly in expansion for all these.  Markit commentary:

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Tue 22 Jun 2021 22:24:15 GMT

Oil - OPEC+ meeting next week - murmurs of an increase in supply (from August)

The Organization of the Petroleum Exporting Countries and allies (aka OPEC+ ... the long story short is the important players are Saudi Arabia from OPEC and Russia from "+") next meet on July 1.  The cartel and its pals have begun to return more oil to the market (2.1m barrels brought back in from May to July) and mutterings are about already that next week will bring a further ease back in supply restrictions. 

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Oil - OPEC+ meeting next week - murmurs of an increase in supply (from August)


https://az705044.vo.msecnd.net/20210622/brent-chart-forexlive.png Eamonn Sheridan
Tue 22 Jun 2021 22:24:15 GMT
Category: News
0
The Organization of the Petroleum Exporting Countries and allies (aka OPEC+ ... the long story short is the important players are Saudi Arabia from OPEC and Russia from "+") next meet on July 1.  The cartel and its pals have begun to return more oil to the market (2.1m barrels brought back in from May to July) and mutterings are about already that next week will bring a further ease back in supply restrictions. 

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Tue 22 Jun 2021 21:43:20 GMT

1

Semiconductor shortage is getting worse - new record high wait time for chips

: Via a Bloomberg report on Tuesday US time, citing  Chip lead times, the gap between ordering a semiconductor and taking delivery The generally accepted recipe for inflation (there are others) is:

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Semiconductor shortage is getting worse - new record high wait time for chips


https://az705044.vo.msecnd.net/20210428/tsmc.png Eamonn Sheridan
Tue 22 Jun 2021 21:43:20 GMT
Category: News
1
: Via a Bloomberg report on Tuesday US time, citing  Chip lead times, the gap between ordering a semiconductor and taking delivery The generally accepted recipe for inflation (there are others) is:

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Tue 22 Jun 2021 21:23:19 GMT

6

White House says Powell's testimony shows Biden's economic plan is working

A statement from the White House: Wow.  Initial thought: "Well, they would say that, wouldn't they?" Thought 2: "Maybe the WH won't comment on Fed policy, but economic Headkicker in Chief, US Treasury Sec. Janet Yellen, certainly will if need be." 

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White House says Powell's testimony shows Biden's economic plan is working


https://az705044.vo.msecnd.net/20190114/0-yellen.png Eamonn Sheridan
Tue 22 Jun 2021 21:23:19 GMT
Category: Central Banks
6
A statement from the White House: Wow.  Initial thought: "Well, they would say that, wouldn't they?" Thought 2: "Maybe the WH won't comment on Fed policy, but economic Headkicker in Chief, US Treasury Sec. Janet Yellen, certainly will if need be." 

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Tue 22 Jun 2021 20:56:46 GMT

5

Trade ideas thread - Wednesday 23 June 2021

Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so:         

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Trade ideas thread - Wednesday 23 June 2021


Eamonn Sheridan
Tue 22 Jun 2021 20:56:46 GMT
Category: News
5
Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so:         

Asset 24 View More
Tue 22 Jun 2021 20:45:26 GMT

9

Fed's Daly says the Fed is not even talking about rate hikes. So, the Fed is talking about rate hikes?

Mary Daly is head of the San Francisco Federal Reserve branch, she spoke on Tuesday US time, main points here: This one stuck out to me: I'm old enough to remember when a taper discussion wasn't even on the table, and yet here we are. Tee hee. Its clenched bum time around the FOMC table right now, awaiting evidence for their prior that inflation is temporary ... and if that evidence does not arrive hold on for the "its time to talk about talking about a rate hike"  news cycle. 

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Fed's Daly says the Fed is not even talking about rate hikes. So, the Fed is talking about rate hikes?


https://az705044.vo.msecnd.net/20170524/kaplan.png Eamonn Sheridan
Tue 22 Jun 2021 20:45:26 GMT
Category: Central Banks
9
Mary Daly is head of the San Francisco Federal Reserve branch, she spoke on Tuesday US time, main points here: This one stuck out to me: I'm old enough to remember when a taper discussion wasn't even on the table, and yet here we are. Tee hee. Its clenched bum time around the FOMC table right now, awaiting evidence for their prior that inflation is temporary ... and if that evidence does not arrive hold on for the "its time to talk about talking about a rate hike"  news cycle. 

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Tue 22 Jun 2021 20:36:31 GMT

1

ICYMI - PayPal and Visa have invested US$300m into Blockchain Capital's fundraising

Blockchain Capital is a venture capital firm that focuses on ... have a guess ... blockchain (and cryptocurrency). Paypal statement: Visa says  More support for the increasing institutional interest in blockchain technology. 

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ICYMI - PayPal and Visa have invested US$300m into Blockchain Capital's fundraising


https://az705044.vo.msecnd.net/20210622/btc-chart-paypal.png Eamonn Sheridan
Tue 22 Jun 2021 20:36:31 GMT
Category: Cryptocurrency
1
Blockchain Capital is a venture capital firm that focuses on ... have a guess ... blockchain (and cryptocurrency). Paypal statement: Visa says  More support for the increasing institutional interest in blockchain technology. 

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Tue 22 Jun 2021 20:32:58 GMT

Private oil survey data shows large draw in headline crude oil inventory

And a build for gas and distillate products.  The inventory data from the private survey is out now, official data follows Wed. morning (US time) The numbers via Twitter:

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Private oil survey data shows large draw in headline crude oil inventory


https://az705044.vo.msecnd.net/20210622/oil-stocks.png Eamonn Sheridan
Tue 22 Jun 2021 20:32:58 GMT
Category: News
0
And a build for gas and distillate products.  The inventory data from the private survey is out now, official data follows Wed. morning (US time) The numbers via Twitter:

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Tue 22 Jun 2021 20:08:12 GMT

ForexLive Americas FX news wrap: Crypto goes on a wild ride

Forex news for North America trading on June 22, 2021: Markets: - WTI crude oil down 24-cents t o$72.88 - US 10-year yields down 2.0 bps to 1.468% - Gold down $6 to $1770 The FX market was lively today as the dollar continues to give back gains, particularly against the commodity currencies but it was crypto that stole the show.

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ForexLive Americas FX news wrap: Crypto goes on a wild ride


//az705044.vo.msecnd.net/20210622/2021-06-22_16-07-42.png Adam Button
Tue 22 Jun 2021 20:08:12 GMT
Author: Adam Button
Category: News
0
Forex news for North America trading on June 22, 2021: Markets: - WTI crude oil down 24-cents t o$72.88 - US 10-year yields down 2.0 bps to 1.468% - Gold down $6 to $1770 The FX market was lively today as the dollar continues to give back gains, particularly against the commodity currencies but it was crypto that stole the show.

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Tue 22 Jun 2021 20:07:15 GMT

NASDAQ index closes at a record high

Major indices higher. S&P falls short of it record high   The S&P index got to within two points of its all-time record high at 4257.11. The high price reached 4255.84.

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NASDAQ index closes at a record high


Greg Michalowski
Tue 22 Jun 2021 20:07:15 GMT
Category: Technical Analysis
0
Major indices higher. S&P falls short of it record high   The S&P index got to within two points of its all-time record high at 4257.11. The high price reached 4255.84.

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Tue 22 Jun 2021 20:02:49 GMT

Here is what’s on the economic calendar in Asia today - PMIs kick off & an RBA speaker

Preliminary PMIs on the data agenda for the session today, Wednesday 23 June 2021  2350 GMT minutes of the April Bank of Japan meeting. 2300 GMT Australia Markit preliminary PMIs for June

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Here is what’s on the economic calendar in Asia today - PMIs kick off & an RBA speaker


https://az705044.vo.msecnd.net/20180213/luci-ellis-rba.png Eamonn Sheridan
Tue 22 Jun 2021 20:02:49 GMT
Category: News
0
Preliminary PMIs on the data agenda for the session today, Wednesday 23 June 2021  2350 GMT minutes of the April Bank of Japan meeting. 2300 GMT Australia Markit preliminary PMIs for June

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Tue 22 Jun 2021 19:39:23 GMT

1

US stocks moving toward highs as the day works toward the close

NASDAQ index on track for a record close. S&P index looks to test its all-time high As the the stock trading day works toward the close, the NASDAQ index is trading at a new all-time high at 14269.77. That took out the previous all-time high price at 14211.57

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US stocks moving toward highs as the day works toward the close


//az705044.vo.msecnd.net/20210622/2021-06-22_12-29-52.jpg Greg Michalowski
Tue 22 Jun 2021 19:39:23 GMT
Category: Technical Analysis
1
NASDAQ index on track for a record close. S&P index looks to test its all-time high As the the stock trading day works toward the close, the NASDAQ index is trading at a new all-time high at 14269.77. That took out the previous all-time high price at 14211.57

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