Reserve Bank of Australia - Jonathan Kearns, Head of Financial Stability.

  • arrears on housing loans have risen
  • arrears are by no means at a level that poses a risk to financial stability
  • over 99 per cent of housing loans are on, or ahead of, schedule
  • loan arrears are lower in Australia than in many other advanced economies
  • arrears driven by weak income growth, house price falls, rising unemployment in some areas
  • roll-over from interest-only loans may have added to arrears, but temporary
  • says tighter lending standards might also temporarily add to arrears
  • says arrears rate could continue to edge higher for a bit longer
  • arrears should not pose a risk as long as unemployment stays low

more to come   
ForexLive

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Mon 17 Jun 2019 23:04:22 GMT

2

JP Morgan's short AUD/CHF trade recommendation

JPM citing declining economic growth confidence globally - and thus is a good indicator for defensive low-beta longs against high-beta shorts Fed easing warrants "holding a more balanced set of low-beta currencies beyond just USD". And, on the other side -  JPM single out "the antipodes" 

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JP Morgan's short AUD/CHF trade recommendation


Eamonn Sheridan
Mon 17 Jun 2019 23:04:22 GMT
Category: News
2


JPM citing declining economic growth confidence globally - and thus is a good indicator for defensive low-beta longs against high-beta shorts Fed easing warrants "holding a more balanced set of low-beta currencies beyond just USD". And, on the other side -  JPM single out "the antipodes" 

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Trade ideas thread - European session 17 June 2019
Asset 41
Mon 17 Jun 2019 22:28:04 GMT

5

The US will send an extra 1000 troops to the Middle East

The earlier report on the US response to Iran is here: (Acting) US Defense Sec Shanahan now confirming 1,000 extra troops to be sent ForexLive

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The US will send an extra 1000 troops to the Middle East


Eamonn Sheridan
Mon 17 Jun 2019 22:28:04 GMT
Category: News
5
The earlier report on the US response to Iran is here: (Acting) US Defense Sec Shanahan now confirming 1,000 extra troops to be sent ForexLive

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Mon 17 Jun 2019 22:25:28 GMT

1

El Erian on what's driving GBP (he's too polite to call Brexit a shi* show)

Via Tweet from Mohamed El-Erian, chief economic adviser at Allianz. ForexLive

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El Erian on what's driving GBP (he's too polite to call Brexit a shi* show)


Eamonn Sheridan
Mon 17 Jun 2019 22:25:28 GMT
Category: News
1
Via Tweet from Mohamed El-Erian, chief economic adviser at Allianz. ForexLive

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Mon 17 Jun 2019 22:19:41 GMT

Federal Reserve FOMC meet this week - preview

Federal Open Market Committee June 2019 monetary policy decision will be published at 1800 GMT on June 19 A quickie via Morgan Stanley: Also, Sg quickie:  

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Federal Reserve FOMC meet this week - preview


Eamonn Sheridan
Mon 17 Jun 2019 22:19:41 GMT
Category: Central Banks
0
Federal Open Market Committee June 2019 monetary policy decision will be published at 1800 GMT on June 19 A quickie via Morgan Stanley: Also, Sg quickie:  

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Mon 17 Jun 2019 22:17:03 GMT

Australian Treasurer Frydenberg says he'll introduce tax package in 1st week of parliament

The government went to the election promising tax cuts. This is the package Frydenburg is referring to. Needs the legislation to be approved by parliament. The new Parliament will assemble on Tuesday, 2 July 2019

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Australian Treasurer Frydenberg says he'll introduce tax package in 1st week of parliament


Eamonn Sheridan
Mon 17 Jun 2019 22:17:03 GMT
Category: News
0
The government went to the election promising tax cuts. This is the package Frydenburg is referring to. Needs the legislation to be approved by parliament. The new Parliament will assemble on Tuesday, 2 July 2019

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Mon 17 Jun 2019 22:10:15 GMT

1

Morgan Stanley trade of the week is long EUR/USD

This issued Monday but it may still be interest MS recommended to buy EURUSD at market - target 1.1630  - stop of 1.1100 -- The 'at market' when the note was issued was a little lower than current spot. 

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Morgan Stanley trade of the week is long EUR/USD


Eamonn Sheridan
Mon 17 Jun 2019 22:10:15 GMT
Category: News
1
This issued Monday but it may still be interest MS recommended to buy EURUSD at market - target 1.1630  - stop of 1.1100 -- The 'at market' when the note was issued was a little lower than current spot. 

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Mon 17 Jun 2019 21:43:08 GMT

Reports US is preparing to send extra troops to Middle East in response to Iran

Reuters citing 2 unnamed US officials that extra troops being in sent in response to threats from Iran. These sorts of developments should act as a positive for USD and yen flows. 

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Reports US is preparing to send extra troops to Middle East in response to Iran


Eamonn Sheridan
Mon 17 Jun 2019 21:43:08 GMT
Category: News
0
Reuters citing 2 unnamed US officials that extra troops being in sent in response to threats from Iran. These sorts of developments should act as a positive for USD and yen flows. 

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Mon 17 Jun 2019 21:39:08 GMT

American Chamber of Commerce says the US and China need to get back to negotiating table on trade

Chairman of the ACC says the two countries need to reboot negotiations.  - The Osaka G20 meeting is the perfect opportunity (G20 meeting in Japan is June 28 and 29)

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American Chamber of Commerce says the US and China need to get back to negotiating table on trade


Eamonn Sheridan
Mon 17 Jun 2019 21:39:08 GMT
Category: News
0
Chairman of the ACC says the two countries need to reboot negotiations.  - The Osaka G20 meeting is the perfect opportunity (G20 meeting in Japan is June 28 and 29)

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Mon 17 Jun 2019 21:30:16 GMT

1

Brexit - British Chambers of Commerce survey shows UK firms look to cut investment by the most in 10 years

BCC survey results released overnight.  Business investment forecast to drop 1.3% y/y in 2019 +0.4% in 2020 On GDP: - 2019 1.3% (BCC citing a lift in stockpiling by companies before the (original) Brexit deadline in March BCC Director General Adam Marshall

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Brexit - British Chambers of Commerce survey shows UK firms look to cut investment by the most in 10 years


https://az705044.vo.msecnd.net/20190617/gbp-chart-2019-lows.png Eamonn Sheridan
Mon 17 Jun 2019 21:30:16 GMT
Category: News
1
BCC survey results released overnight.  Business investment forecast to drop 1.3% y/y in 2019 +0.4% in 2020 On GDP: - 2019 1.3% (BCC citing a lift in stockpiling by companies before the (original) Brexit deadline in March BCC Director General Adam Marshall

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Mon 17 Jun 2019 21:23:40 GMT

Brazilian conglomerate Odebrecht has filed for bankruptcy protection

Seeking to restructure $US13 billion in debt - Brazilian engineering group Proceedings grew out of political corruption investigations ForexLive

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Brazilian conglomerate Odebrecht has filed for bankruptcy protection


Eamonn Sheridan
Mon 17 Jun 2019 21:23:40 GMT
Category: News
0
Seeking to restructure $US13 billion in debt - Brazilian engineering group Proceedings grew out of political corruption investigations ForexLive

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Mon 17 Jun 2019 21:20:22 GMT

ICYMI - India's new retaliatory tariffs on the US

An ICYMI on another trade war escalation this time US-India. - A new set of Indian tariffs on 28 US products kicked in on Sunday - New Delhi says the higher duties are in retaliation for US tariffs on steel and aluminum imposed last year The further background to this is India has a big surplus in trade with the US for goods. And a smaller surplus in services. The new tariffs are seen as small and symbolic. but they could raise the ire of you-know-who (tweeter in chief). 

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ICYMI - India's new retaliatory tariffs on the US


Eamonn Sheridan
Mon 17 Jun 2019 21:20:22 GMT
Category: News
0
An ICYMI on another trade war escalation this time US-India. - A new set of Indian tariffs on 28 US products kicked in on Sunday - New Delhi says the higher duties are in retaliation for US tariffs on steel and aluminum imposed last year The further background to this is India has a big surplus in trade with the US for goods. And a smaller surplus in services. The new tariffs are seen as small and symbolic. but they could raise the ire of you-know-who (tweeter in chief). 

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Mon 17 Jun 2019 21:03:21 GMT

New Zealand Westpac Q2 consumer confidence: 103.5 (prior 103.8)

Westpac's quarterly survey for NZ consumer sentiment. A small fall from Q1.  WPAC citing a slowing economy - 'households are feeling it'. - weaker offshore economy Very minor NZD response, a tic or two lower. 

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New Zealand Westpac Q2 consumer confidence: 103.5 (prior 103.8)


Eamonn Sheridan
Mon 17 Jun 2019 21:03:21 GMT
Category: News
0
Westpac's quarterly survey for NZ consumer sentiment. A small fall from Q1.  WPAC citing a slowing economy - 'households are feeling it'. - weaker offshore economy Very minor NZD response, a tic or two lower. 

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Mon 17 Jun 2019 20:49:14 GMT

8

Trade ideas thread - Tuesday 18 June 2019

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 - Tuesday 18 June 2019


Eamonn Sheridan
Mon 17 Jun 2019 20:49:14 GMT
Category: News
8
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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Mon 17 Jun 2019 20:45:47 GMT

1

ICYMI: Stanley Fischer says Powell will not be renominated if Trump is re-elected in 2020

Stanley Fischer is former Vice Chairman of the Federal Reserve. He spoke with media over the weekend and made the bold prediction: - Trump won't renominate Powell for another term as the Fed's chair if re-elected

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ICYMI: Stanley Fischer says Powell will not be renominated if Trump is re-elected in 2020


https://az705044.vo.msecnd.net/20190617/yellen.png Eamonn Sheridan
Mon 17 Jun 2019 20:45:47 GMT
Category: Central Banks
1
Stanley Fischer is former Vice Chairman of the Federal Reserve. He spoke with media over the weekend and made the bold prediction: - Trump won't renominate Powell for another term as the Fed's chair if re-elected

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Mon 17 Jun 2019 20:35:48 GMT

1

US military releases new images of mine being removed from side of Japanese tanker

Not this again? Yep. US military says Iranian forces removed a mine from the side of the oil tanker. Releases a new set of pics.  Let's see if I can track 'em down.

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US military releases new images of mine being removed from side of Japanese tanker


Eamonn Sheridan
Mon 17 Jun 2019 20:35:48 GMT
Category: News
1
Not this again? Yep. US military says Iranian forces removed a mine from the side of the oil tanker. Releases a new set of pics.  Let's see if I can track 'em down.

Asset 24 View More
Mon 17 Jun 2019 20:30:58 GMT

3

Mexican President says Mexico could win trade war with the Uited States

Mexico's president Lopez Obrador says the country could win trade war with the US - But that would be a pyrrhic victory it does not seek --- A Pyrrhic victory is a victory that inflicts such a devastating toll on the victor that it is tantamount to defeat. Someone who wins a Pyrrhic victory has also taken a heavy toll that negates any true sense of achievement.  Thanks …. 

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Mexican President says Mexico could win trade war with the Uited States


Eamonn Sheridan
Mon 17 Jun 2019 20:30:58 GMT
Category: News
3
Mexico's president Lopez Obrador says the country could win trade war with the US - But that would be a pyrrhic victory it does not seek --- A Pyrrhic victory is a victory that inflicts such a devastating toll on the victor that it is tantamount to defeat. Someone who wins a Pyrrhic victory has also taken a heavy toll that negates any true sense of achievement.  Thanks …. 

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Mon 17 Jun 2019 20:12:01 GMT

Here is what’s on the economic calendar in Asia today - RBA minutes

Scroll down for the Reserve Bank of Australia! ! 2100 GMT New Zealand Westpac Q2 consumer confidence - prior 103.8 2315 GMT Reserve Bank of Australia's Jonathan Kearns, Head of Financial Stability, speaking. At a property-related conference. Stay tuned for some comments from this one. The RBA have recently switched to an easing cycle.

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Here is what’s on the economic calendar in Asia today - RBA minutes


https://az705044.vo.msecnd.net/20190424/rba-aud.png Eamonn Sheridan
Mon 17 Jun 2019 20:12:01 GMT
Category: News
0
Scroll down for the Reserve Bank of Australia! ! 2100 GMT New Zealand Westpac Q2 consumer confidence - prior 103.8 2315 GMT Reserve Bank of Australia's Jonathan Kearns, Head of Financial Stability, speaking. At a property-related conference. Stay tuned for some comments from this one. The RBA have recently switched to an easing cycle.

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Mon 17 Jun 2019 19:56:55 GMT

1

ForexLive Americas FX news wrap: Empire Fed falls most on record

Forex news for New York trade on June 17, 2019: Markets: - Gold down $2 to $1339 - WTI crude down 57-cents to $51.94 - US 10-year yields up 0.7 bps to 2.09% The Empire Fed isn't often a market mover but it certainly raised some eyebrows today as it fell to the worst level since Oct 2016 in the swiftest one-month fall on record. The drop raised some fresh concerns about the US economy and hurt USD/JPY. The NAHB number also hurt sentiment.

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ForexLive Americas FX news wrap: Empire Fed falls most on record


//az705044.vo.msecnd.net/20190617/2019-06-17_15-56-40.png Adam Button
Mon 17 Jun 2019 19:56:55 GMT
Author: Adam Button
Category: News
1
Forex news for New York trade on June 17, 2019: Markets: - Gold down $2 to $1339 - WTI crude down 57-cents to $51.94 - US 10-year yields up 0.7 bps to 2.09% The Empire Fed isn't often a market mover but it certainly raised some eyebrows today as it fell to the worst level since Oct 2016 in the swiftest one-month fall on record. The drop raised some fresh concerns about the US economy and hurt USD/JPY. The NAHB number also hurt sentiment.

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Mon 17 Jun 2019 19:44:56 GMT

5

A rare fledgling EUR uptrend is forming - BAML

A look at what the euro chart is telling BAML For bank trade ideas, . Bank of America Merrill Lynch Research discusses EUR/USD outlook and "Cumulative EUR/USD price action had reset to flat, offsetting depreciation of the last 3 months. The broader USD trend has faltered and rolled over, with the MAA breadth reverting to just +2 after briefly capping at +9 in April, consistent with USD selling we saw in our proprietary flows. "The short-dated SDR flows in EUR/USD leaned more toward calls last week on the back of a robust pickup in volumes. with rising MAA, supported by bullish Up/Down vol and Residual Skew," BofAML notes. 

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A rare fledgling EUR uptrend is forming - BAML


Adam Button
Mon 17 Jun 2019 19:44:56 GMT
Author: Adam Button
Category: News
5
A look at what the euro chart is telling BAML For bank trade ideas, . Bank of America Merrill Lynch Research discusses EUR/USD outlook and "Cumulative EUR/USD price action had reset to flat, offsetting depreciation of the last 3 months. The broader USD trend has faltered and rolled over, with the MAA breadth reverting to just +2 after briefly capping at +9 in April, consistent with USD selling we saw in our proprietary flows. "The short-dated SDR flows in EUR/USD leaned more toward calls last week on the back of a robust pickup in volumes. with rising MAA, supported by bullish Up/Down vol and Residual Skew," BofAML notes. 

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Mon 17 Jun 2019 19:29:42 GMT

9

GBP/USD sits at six-month low with CPI to come

UK CPI is due Tuesday Cable is down only 50 pips today but the decline is doubly disappointing because it comes after a sharp fall on Friday and because it broke through the May 31 support level. That's an area that should have provided some decent support ahead of the FOMC meeting.

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GBP/USD sits at six-month low with CPI to come


//az705044.vo.msecnd.net/20190617/cable-d.png Adam Button
Mon 17 Jun 2019 19:29:42 GMT
Author: Adam Button
Category: News
9
UK CPI is due Tuesday Cable is down only 50 pips today but the decline is doubly disappointing because it comes after a sharp fall on Friday and because it broke through the May 31 support level. That's an area that should have provided some decent support ahead of the FOMC meeting.

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Mon 17 Jun 2019 18:51:23 GMT

1

Crude stumbles to late 1% loss

All the selling was at the end of the day WTI crude is stuck inside its recent range but today's fall was disappointing all-the-same. Crude had been flat or slightly lower for much of the day but slumped to $51.59 from $52.30 in the past hour and finishing at a session low.

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Crude stumbles to late 1% loss


//az705044.vo.msecnd.net/20190617/2019-06-17_14-49-47.png Adam Button
Mon 17 Jun 2019 18:51:23 GMT
Author: Adam Button
Category: News
1
All the selling was at the end of the day WTI crude is stuck inside its recent range but today's fall was disappointing all-the-same. Crude had been flat or slightly lower for much of the day but slumped to $51.59 from $52.30 in the past hour and finishing at a session low.

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Mon 17 Jun 2019 18:31:14 GMT

BOC's Schembri doesn't comment on economy or interest rates

Comments from BOC Deputy Lawrence Schembri: He will take questions from the audience later. I'll have the highlights, if there are any. ForexLive

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BOC's Schembri doesn't comment on economy or interest rates


Adam Button
Mon 17 Jun 2019 18:31:14 GMT
Author: Adam Button
Category: Central Banks
0
Comments from BOC Deputy Lawrence Schembri: He will take questions from the audience later. I'll have the highlights, if there are any. ForexLive

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Mon 17 Jun 2019 18:19:49 GMT

ECB's Draghi doesn't touch on monetary policy in comments

Comments from Draghi in Sintra, Portugal: Draghi said some platitudes about Martin Feldstein, talked about bettering the eurozone and then interested the IMF's Blanchard.

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ECB's Draghi doesn't touch on monetary policy in comments


//az705044.vo.msecnd.net/20190617/draghi-june-17.png Adam Button
Mon 17 Jun 2019 18:19:49 GMT
Author: Adam Button
Category: Central Banks
0
Comments from Draghi in Sintra, Portugal: Draghi said some platitudes about Martin Feldstein, talked about bettering the eurozone and then interested the IMF's Blanchard.

Asset 24 View More
Mon 17 Jun 2019 17:57:01 GMT

3

Facebook and JPMorgan help lift Bitcoin above $9000

Bitcoin up 10% today Bitcoin is having a big day. It hit $9420 today, climbing more than 10% and reaching the best levels since May 2018. It's been a remarkable run since early April with prices up more than 127%.

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Facebook and JPMorgan help lift Bitcoin above $9000


//az705044.vo.msecnd.net/20190617/2019-06-17_13-51-17.png Adam Button
Mon 17 Jun 2019 17:57:01 GMT
Author: Adam Button
Category: Cryptocurrency
3
Bitcoin up 10% today Bitcoin is having a big day. It hit $9420 today, climbing more than 10% and reaching the best levels since May 2018. It's been a remarkable run since early April with prices up more than 127%.

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