- Goldman Sachs blame rising interest rates for the fall in the S&P500 so far this year
- China PMIs are on the data docket for Thursday
- Federal Reserve speakers agenda for Wednesday, 29 June 2022 - Powell, Mester, Bullard
- Australian data for May Retail Sales: +0.9% m/m (expected +0.4% m/m)
- PetroChina may sell Australian, Canadian assets to stem losses
- ICYMI - Another Cryptocurrency exchange teeters
- PBOC sets USD/ CNY mid-point today at 6.7035 (vs. estimate at 6.7018)
- Federal Reserve Chair Powell is speaking Wednesday, 29 June 2022 - ECB summit
- Here's why betting against the BOJ is a 'widow maker' trade
- Morgan Stanley maintains a bullish CHF bias over the coming weeks
- Japan data: May Retail Sales +0.6% m/m (vs. +1.0% expected and +1.0% previously)
- Kuroda says Japan core CPI above 2% almost all due to international energy price increase
- UK data - June shop prices +3.1% y/y (prior 2.8%), Highest since Sep 2008.
- US Deputy Commerce Secretary Graves says US clear response on China tariffs is coming soon
- Here's why other central bankers laughed at Reserve Bank of Australia Governor Lowe
- Mark Carney says the risk of a recession in the US and globally is “uncomfortably high”
- G7 discussions with China and India on Russian oil price cap were "positive"
- South Korea media report BoK will consider a hefty rate hike if inflation hits 6%
- ICYMI - ECB's Wunsch said 200 bps rate hikes needed "relatively fast", a "no brainer"
- Recapping China's confidence in the economy - even while sticking with zero covid
- Oil inventory survey shows a large draw, much larger than expected
- Minerd says Bitcoin is going to US$8K
- Forexlive Americas FX news wrap: Manufacturing and consumer confidence deteriorate
It was a light session for news and data, and for movement across major FX rates.
There is very little net change overall.
Oil has lost some ground during US evening futures trade and into Asia.
On the data front the item of note for Australia was May retail sales, which put in another strong growth performance despite rising inflation (volumes were strong) and weakening consumer sentiment. The Reserve Bank of Australia meet next week for their next interest rate hike. The strength of this indicator triggered some renewed chatter of a 75bp hike, but consensus still sits around +50bp.
We had comments reported from Bank of Japan Governor Kuroda. These were from an event on June 26 (see bullets above). Kuroda once again insisted that inflation in Japan is mainly being driven by international energy prices and that he sees no need to divert from the Bank’s very accommodative monetary policy. USD/JPY is little changed on the session.
WTI:
