- Australian jobs report is due Thursday, 16 February 2023 - preview
- Canada bans all research funding with Chinese military and state security institutions
- European Central Bank President Lagarde is speaking on Wednesday, 15 February 2023
- Japan PM Kishida spoke on his selection of Uead as new BOJ head - "the best"
- RBA Gov. Lowe says not at the peak for rates yet, unsure how high they go
- Goldman Sachs says Russian oil sold for significantly more than quoted prices, up to US$25
- PBOC 1 year MLF unchanged rate of 2.75%
- PBOC sets USD/ CNY reference rate for today at 6.8183 (vs. estimate at 6.8196)
- RBA Gov Lowe says there is a risk the Bank has not yet raised interest rates enough
- RBA Gov Lowe - says inflation is way too high
- TD have ramped their RBA terminal rate forecast much higher: 4.35% (prior 3.85%)
- Walmart has lifted its average hourly pay rate for workers
- Goldman Sachs CEO Solomon says business sentiment has picked up, inflation still a risk
- ICYMI - JP Morgan CFO forecasts Fed Funds to around 5.5%
- Deutsche Bank's bullish EUR/USD view: 3 structural underpinnings
- Hong Kong's central bank has once again intervened in the forex market
- ICYMI: US January CPI, headline hot, core warm. Responses centre on Fed higher for longer.
- Goldman Sachs says don't look to the Bank of Japan as the biggest driver of USD/JPY
- Forexlive Americas FX news wrap 14 Feb: US CPI moves up 0.5% but market digests the news
- Oil - private survey of inventory shows much larger build than was expected
- Trade ideas thread - Wednesday, 15 February 2023
- US equity close: Tech FOMO outweighs inflation report
There have been small gains for the US dollar during the session here. EUR, GBP, AUD, NZD, CAD, CHF and even yen are all a touch softer against the USD. Local markets digested the US CPI data, there was not a lot else of impact.
Reserve Bank of Australia Governor Lowe gave testimony in front of a parliamentary committee today. On interest rates he said he thought they had further to rise but couldn’t say by how much. Both comments seem right. He covered a wider range of topics also (see bullets above).
From the People’s Bank of China we had an addition of funds via a Medium Term Lending Facility at an unchanged rate. This is strongly suggestive of no change to come for Loan Prime Rates to be set by the Bank on the 20th of the month.
While on central banks, the Hong Kong Monetary Authority intervened in the USD/HKD rate again today, the second day in a row. The HKD has fallen to the weak end of its permitted trading band and the HKMA is taking action to support it (buy HKD, sell USD)
The private survey of oil inventories showed a much larger build than was expected, providing a headwind to oil.
