A light one on the data docket in European trading today

• Not much on the economic calendar to start the new week

Justin Low

Monday, 22/04/2024 | 05:27 GMT-0

22/04/2024 | 05:27 GMT-0

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Market Outlook for the Week of 22-26 April

• Get economic insights for the week ahead with a spotlight on Australian inflation data, BoJ's monetary policy announcement and the U.S. PCE.

Gina Constantin

Monday, 22/04/2024 | 04:45 GMT-0

22/04/2024 | 04:45 GMT-0

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A steadier risk mood set to greet European traders today

• No major escalation in geopolitics over the weekend

Justin Low

Monday, 22/04/2024 | 04:10 GMT-0

22/04/2024 | 04:10 GMT-0

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Cryptocurrencies wait for a signal

• Bitcoin is back below $27K this new week, finding support from buyers on dips to the 200-week moving average.

ForexLive Asia-Pacific FX news wrap: A quieter weekend for geopolitics, ‘risk’ up Monday

• Forex news for Asian trading on Monday, 22 April 2024

Eamonn Sheridan

Monday, 22/04/2024 | 03:30 GMT-0

22/04/2024 | 03:30 GMT-0

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Gold has been hit lower on Monday in Asia

Eamonn Sheridan

Monday, 22/04/2024 | 03:20 GMT-0

22/04/2024 | 03:20 GMT-0

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Vietnam's Central Bank is to cancel Monday's gold auction due to a lack of interest

• But the auction will take place on Tuesday

Eamonn Sheridan

Monday, 22/04/2024 | 03:05 GMT-0

22/04/2024 | 03:05 GMT-0

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BMO forecast a rate cut from the Bank of Canada, but trim back on the number of cuts

• BMO project 75bp of cuts in 2024 and the same in 2025

Eamonn Sheridan

Monday, 22/04/2024 | 02:41 GMT-0

22/04/2024 | 02:41 GMT-0

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Allianz Global Investors see USD/JPY likely as high as 158, but wary of intervention risk

• Likes Japanese stocks also

Eamonn Sheridan

Monday, 22/04/2024 | 02:10 GMT-0

22/04/2024 | 02:10 GMT-0

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There are no speakers from the US Federal Reserve due today, FOMC Blackout period

• During the blackout Fed officials do not speak publicly

Eamonn Sheridan

Monday, 22/04/2024 | 01:49 GMT-0

22/04/2024 | 01:49 GMT-0

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The stock market has helped crypto

• Bitcoin recovery is painfully slow, and local resistance remains at $27.5K

PBOC Loan Prime Rates (LPR) remain unchanged at today's rate setting, as expected

• LPRs set at 3.45% for the one-year and 3.95% for the five-year

Eamonn Sheridan

Monday, 22/04/2024 | 01:16 GMT-0

22/04/2024 | 01:16 GMT-0

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PBOC sets USD/ CNY reference rate for today at 7.1043 (vs. estimate at 7.2359)

• PBOC CNY reference rate setting for the trading session ahead.

Eamonn Sheridan

Monday, 22/04/2024 | 01:15 GMT-0

22/04/2024 | 01:15 GMT-0

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South Korean trade intensity increased in the first 20 days of April

• Exports and imports both higher y/y

Eamonn Sheridan

Monday, 22/04/2024 | 00:46 GMT-0

22/04/2024 | 00:46 GMT-0

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AUD, NZD, CAD popping higher vs. USD

• No major geopolitical developments over the weekend after a busy Friday.

Eamonn Sheridan

Monday, 22/04/2024 | 00:15 GMT-0

22/04/2024 | 00:15 GMT-0

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PBOC is expected to set the USD/CNY reference rate at 7.2359 – Reuters estimate

• The slightly lower USD should make the PBoC breathe a little easier today

Eamonn Sheridan

Monday, 22/04/2024 | 00:13 GMT-0

22/04/2024 | 00:13 GMT-0

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US-China trade war ramping up: China slaps a 43% tariff on widely-used US chemical

• Propionic acid

Eamonn Sheridan

Sunday, 21/04/2024 | 23:35 GMT-0

21/04/2024 | 23:35 GMT-0

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Bitcoin set for a deeper correction

• The price is failing to push up from that local support, which now passes near $27K

UK Rightmove House Price Index +1.1% m/m in April (prior + 1.5%)

• UK property website Rightmove April 2024 survey of asking prices

Eamonn Sheridan

Sunday, 21/04/2024 | 23:08 GMT-0

21/04/2024 | 23:08 GMT-0

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ICYMI: Morgan Stanley forecast 75 bp or rate cuts from the European Central Bank in 2024

• Also expect limited policy divergence between the Fed and ECB

Eamonn Sheridan

Sunday, 21/04/2024 | 22:41 GMT-0

21/04/2024 | 22:41 GMT-0

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US futures markets open for the week, equity indexes (ES & NQ) open up, oil down

Eamonn Sheridan

Sunday, 21/04/2024 | 22:15 GMT-0

21/04/2024 | 22:15 GMT-0

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Tesla slashed prices in the US, Europe and China over the weekend

• TSLA is trying to address plunging sales

Eamonn Sheridan

Sunday, 21/04/2024 | 21:42 GMT-0

21/04/2024 | 21:42 GMT-0

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Bank of Japan Governor Ueda says Bank will cut back on buying JGBs "irrespective" of data

• And will raise rates if inflation goes up

Eamonn Sheridan

Sunday, 21/04/2024 | 21:27 GMT-0

21/04/2024 | 21:27 GMT-0

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IMF's Gopinath says high U.S. deficits fueling demand, global growth, higher rates & USD

• She is not wrong

Eamonn Sheridan

Sunday, 21/04/2024 | 21:12 GMT-0

21/04/2024 | 21:12 GMT-0

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Ether and Bitcoin seek local support

• A break below $26.7K could put more pressure on Bitcoin.