- The Reserve Bank of Australia is "a relative late-comer to the hiking game"
- Japan chief cabinet secretary Matsuno comments on the BOJ meeting this week
- RBA explainer on how it carries out monetary policy
- ICYMI - Shanghai orders mass COVID testing each weekend until the end of July
- China house price index for May -0.1% y/y (prior +0.7%)
- Australian employment report for May. Unemployment rate 3.9% (expected 3.8%)
- US Department of Energy has requested a meeting with refiners to discuss prices by June 21
- PBOC sets USD/ CNY mid-point today at 6.7099 (vs. estimate at 6.7092)
- Australia inflation expectations (Melbourne Institute’s June survey) 6.7% (prior 5.0%)
- PREVIEW: BoE rate decision and minutes due Thursday 16th June 2022
- China will set up a centralised iron ore buyer to counter the dominance of Australia
- Preview of the Bank of England meeting Thursday, 16 June 2022 - rate hike into a recession
- Exxon invested more than US$50bn in the past 5 years - tells Biden to pull his head in
- Japan trade balance for May:Yen -2384.7bn vs. expected -2022.6bn
- ICYMI - Its a huge option expiry coming up for US stocks on Friday 17 June
- South Korean authorities say they'll strengthen efforts to stabilize the FX market
- New Zealand Q1 GDP contracts: -0.2% q/q (expected +0.6%)
- HKMA (Hong Kong's 'central bank') intervention to support the HK dollar
- June FOMC done and dusted, +75bps. Next up is the July meeting. Key date.
- Morgan Stanley are now looking for a higher Fed interest rate peak, around4%
- Fitch expect economic conditions in New Zealand to be broadly stable over the next 2 years
- ICYMI: Biden willing to use Defense Production Act to bring down gasoline prices
- Bank of England policy meeting coming up Thursday, 16 June 2022 - preview
- FOMC rate hike analyst response: 75bp 'mega step'
- Trade ideas thread - Thursday, 16 June 2022
- Update on the ECB's fragmentation addressing bond scheme - it'll come with conditions
- US stocks end higher as markets get comfortable with higher rates
- Forexlive Americas FX news wrap: Fed hikes 75 basis points but relief rally emerges
It was a mixed performance for the USD here during the Asian timezone following the Federal Open Market Committee (FOMC) decision to raise the Fed Funds rate by 75bps Wednesday afternoon US time. USD/JPY added on points to trade back to circa 134.70 and is back just under 134.50 as I post. USD/CHF followed a similar pattern.
Otherwise it was fairly mixed with, net, not a lot of change. NZD/USD dropped on the release of the Q1 GDP data. This showed a surprise contraction, dropping 0.2% q/q. In the hours following NZD/USD retraced all of its loss and moved higher, back above 0.6300. Its just under the figure as I update.
The other data of note during the session was a solid Australian employment report. There is nothing in it to dissuade the Reserve Bank of Australia from its hiking path as it battles to contain inflation.
Stay tuned, Bank of England policy decision coming up today, preview (and more in the bullets above):
BoE rate moves this year:
