- Goldman Sachs have outlined a scenario taking the S&P500 to 3150. Morgan Stanley see 3400.
- Japan's Matsuno says desirable for currencies to move in line with fundamentals
- We'll be getting a China interest rate indication this week
- PBOC sets USD/ CNY reference rate for today at 6.7182 (vs. estimate at 6.7172)
- USD/JPY round number alert - hits 135 (highest in 24 years)
- Goldman Sachs S&P500 forecast scenarios - median recession takes it to 3150
- New Zealand forecasts show a downward revision to the growth outlook over the coming years
- South Korea June exports (1st 10 days of the month) climb 14% per working day y/y
- US President Biden to visit Saudi Arabia in July
- Financial Times survey forecasts a US recession in 2023
- German Chancellor Scholz, Italian PM Draghi & France's President Macron will go to Ukraine
- Its FOMC world series of poker week. Three of a kind (3*25=75bp) beats a pair (2*25=50bp).
- Federal Reserve speakers coming up on 13 June 2022 (yes, really!) - Brainard
- Libya government says its losing 1.1mn barrels of oil output every day
- Trade ideas thread - Monday, 13 June 2022
- El-Erian on US CPI inflation says "we may well get to 9%"
- Asian timezone market holidays today - Australia is out
- Monday morning open levels - indicative forex prices - 13 June 2022
- Cryto suffers a hellish weekend
- China COVID - Beijing, is experiencing a "strongly explosive" COVID-19 outbreak
- Newsquawk Week Ahead: Highlights include FOMC, BoE, RBA, BoJ, China data
- What's on the US economic calendar in the week ahead: June 13-17
- Bank of Japan intervention watch: Is the yen in a free fall or not? That's the question.
- Forexlive Americas FX news wrap: Another hot inflation report sens the dollar soaring
The US inflation data release on Friday prompted a sell off in bonds and equities and a bid for the USD. That all continued here in Asia.
USD/JPY rose to 135, its since stalled just under. Statement s from Japan ( Ch i ef cabinet secretary Matsuno ) attempted to verbally support the yen but there has been no actual intervention in the market and the comments were not indicative it is imminent yet.
T he USD climbed elsewhere also. EUR, AUD, NZD, GBP, CAD all lower. USD/CHF is little changed.
D ata flow was barely existent. There was nothing from central bankers speaking. Curiously, despite the Fed blackout ahead of Wednesday’s Federal Open Market Committee (FOMC) statement Vice-Chair Brainard is on the speaking circuit today (a pre-recorded speech, see bullets above).
Equities slumped further. A pretty bleak Monday, in all.
Bitcoin, and other crypto was slammed over the weekend. It emerged on Monday (Asia time) from Celsius Network that they had stopped (the statement from the firm said paused) “all withdrawals, Swap, and transfers between accounts.” Ugly s tu f f . BTC/USD hit lows on the session circa USD26,600.